Giving stock is a wonderful way to make an impact in Haiti… tax-free! As a physician, Jim Magera and his family have seen the impact that a donation to World Wide Village can make in Haiti. He has been involved with building the medical programs in Haiti and sharing the gospel with the patients he cares for on short-term medical impact trips.
“I think that giving stock is one of the most strategic ways to give to World Wide Village. By choosing to give stock directly, the money that would have otherwise gone to paying capital gains taxes, instead goes directly to helping our Haitian brothers and sisters through WWV programming. I would highly recommend this giving option as a way to maximize these important gifts.” – Jim Magera (pictured below with his daughters)
Even more importantly, with recent revisions to the tax laws, you will avoid capital gains tax that would be due if you sold the securities. Donating highly appreciated assets can reduce your overall income tax liability, eliminate capital gains tax and provide a larger donation to charity.
Qualified Charitable Distribution: If you are 70-1/2 or older, you can donate up to $100,000 per tax year directly from an IRA (Individual Retirement Account) to World Wide Village. A qualified charitable distribution (QCD) is a distribution from an IRA directly to an eligible charity, bypassing the owner of the account so it is tax-free. QCD’s count toward your required minimum distribution for the year.
For any specific questions pertaining to the donation of stocks and securities to World Wide Village, please contact Erik Lindgren, Financial Dimensions Group, Inc. at 651-294-7929, or email@example.com.