Monthly Archives: April 2015

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Contributions which are not deductible

Contributions are not tax deductible, as charitable, if given to any of the following: Political parties, political campaigns, or political action committees. Contributions given to individuals. Contributions to for-profit schools and hospitals. Contributions to foreign governments. Fines or penalties paid to local or state governments. The value of your time for services rendered to a… Read more »

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Take stock: make a huge difference to your favorite charity and save yourself lots of $$$

It bears repeating: an ideal asset for a charitable donation to your favorite nonprofit is stock. To be more specific, appreciated publicly traded stock that has been held for more than one year. You can receive a double federal tax benefit for gifts of stock. Under federal tax law, the [1] long-term capital gain is… Read more »

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Gifts of long term capital assets can be tax savvy

The mission of Gordon Fischer Law Firm is to promote and maximize charitable giving in Iowa. So, I have to repeat, again, that if you hold long-term capital assets, like appreciated publicly traded stock, that is an ideal asset for charitable giving. There are at least four benefits to gifting long term, appreciated, publicly traded… Read more »