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Charitable Giving

Writer's picture: Jordan RobertsJordan Roberts

We help clients support their favorite charitable causes in a tax efficient manner. I have a client who donates roughly $5,000* per year to a particular charity. Previously he had been donating from his checking account, like most people. However, I noticed that he had some stock in a taxable brokerage account that had doubled in value. So, we set up a donor advised fund and donated $10,000 of the appreciated stock to the fund. His cost basis in this stock was only $5,000, so we doubled his charitable impact (and income tax deduction) at the same cost to him. Everyone wins. hashtag#charity hashtag#giving hashtag#tax




*figures modified to protect privacy

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Parallel Financial, LLC is a member firm of The Fiduciary Alliance, LLC which is a registered investment adviser. A copy of The Fiduciary Alliance’s current written disclosure statement discussing The Fiduciary Alliance’s business operations, services, and fees is available at the SEC’s investment adviser public information website www.adviserinfo.sec.gov or from The Fiduciary Alliance upon request. This website is for informational purposes only and should not be construed as investment advice or a recommendation to buy or sell any security or other investment, or to undertake any investment strategy. Opinions expressed herein are solely those of The Fiduciary Alliance, unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant, or legal counsel prior to implementation.

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