Why Donating Stock to Your Church Can Be a Smart Charitable Move

Giving back to your church is a meaningful way to support its mission and strengthen your community. While many people donate cash or write checks, there’s another option that can offer significant financial benefits: donating stock. At Raymond & King CPAs PLLC, we’re here to help you understand how donating stock can be a tax-savvy and impactful way to support your church while enhancing your financial strategy.

How Donating Stock Maximizes Tax Benefits
One of the biggest advantages of donating stock instead of cash is the potential tax savings. For example, imagine you purchased $5,000 worth of stock a few years ago, and it’s now worth $10,000. If you were to sell the stock, you’d owe capital gains tax on the $5,000 profit. However, if you donate the stock directly to your church, you avoid paying capital gains tax entirely. Even better, you can claim a charitable deduction for the full $10,000 fair market value of the stock on the date of the donation. This way, the church receives the full value of your gift, and you maximize your tax savings—a win-win for everyone involved.

For many donors, this approach also allows them to give more generously than they might otherwise. Instead of writing a check for $5,000, the after-tax equivalent of selling the stock, you’re able to give the full $10,000. Your church can use these resources to support its programs, outreach, and mission, making a greater impact on the community.

Making the Process Simple
Donating stock might sound complicated, but it’s easier than you think. Most churches have systems in place to accept stock donations, and your financial advisor or CPA can help guide you through the process. At Raymond & King CPAs PLLC, we work with individuals in Michigan’s Thumb region to make stock donations seamless and stress-free. We ensure the process aligns with your financial goals while supporting the causes that matter most to you.

Conclusion:
Donating stock to your church is a powerful way to make a meaningful impact while maximizing your tax benefits. At Raymond & King CPAs PLLC, we’re passionate about helping individuals and families in Michigan’s Thumb region make informed financial decisions that align with their values. If you’re considering donating stock to your church, contact us today for personalized advice and guidance.

Ready to learn more about the benefits of donating stock? Call Raymond & King CPAs PLLC at (989) 635-3113 or visit www.raymondking.cpa to schedule a consultation. Let’s work together to make your charitable giving as impactful as possible.