Big time gains on Wall Street can have positive gains on our streets
Maybe you bought shares of Apple because of a crush on the iMac, before the debut of the iPhone – and the evolution of the smartphone and everything that has followed?
Perhaps you came across a fast-growing company that sold books and CDs online, and you purchased some stock when it became publicly traded in 1997?
Or that all-electric, cool-looking roadster a decade ago developed by the guy who co-founded PayPal was worth a just-for-fun investment that came with some bragging rights with your tree-hugging friends?
Congrats, you did well. Very well.
Whether it was just good luck or being a financial genius, if you bought and held on to shares of Apple, Amazon, Tesla and/or quite a few other publicly traded companies, you’ve enjoyed some hefty gains even with a sometimes-wild ride on Wall Street. Most people would do anything besides sell these highly appreciated assets, because they do not want to pay the huge tax that would be due.
Now, those shares can help pave the way for a better future for children and young adults in Nevada County. And help you avoid a big tax bite.
If you’re more concerned about paying Uncle Sam rather than living off the head-turning gains, please consider donating company shares, your IRA or mutual fund to Bright Futures for Youth.
It could be a big-time, tax-saving move.
Rather than cutting a big check to Bright Futures for Youth after selling shares of Microsoft or Walmart (among some of the 30 best-performing companies over the past 30 years), consider donating the shares directly to the organization. Then, you will avoid paying taxes on those huge gains, get a credit for a charitable donation – and you will be investing in the next generation of residents in Nevada County.
Of course, the direct-giving practice also covers real estate, which has performed very well.
Company stock, mutual fund, real estate. All are much-appreciated gifts to Bright Futures for Youth.
But, as always, please check with your accountant and/or financial adviser about your specific situation.
You can learn more about donating to Bright Futures for Youth at https://bffyouth.org/donate/. Big or small, every donation is appreciated and benefits the community.