With the tax law changes, you might be wondering how to make the smartest charitable gifts. Here are some ideas:
Donate appreciated stock.
With the stock market at or near all-time highs, give your appreciated stocks to a nonprofit like Monroe Foundation, Inc. and eliminate capital gains tax.
Name us as a beneficiary of retirement plan assets like an IRA.
These assets are taxable when distributed to a loved one but are tax-free when given to a nonprofit.
Give from your IRA (if age 70½ or older).
Regardless of whether you itemize your taxes, this gift helps you fulfill your required minimum distribution and is not considered taxable income.
Give real estate.
Appreciated real estate may be subject to capital gains tax unless donated to charity or transferred to a charitable trust.