Giving Stock and Tax Deductible Giving to Individuals in Need
As we come to the end of the year (thank goodness!), we hope that generosity is at the forefront of your mind. For many people who have wealth in the stock market, 2020 has not been a bad year at all. In fact, if you are invested in tech stocks specifically, you are likely better off now than you were at the beginning of the year. However, there are still millions of people who are unemployed because of the pandemic. Take a look at the graph below; it tells a tale of two very different economic worlds after ten months of COVID-19.
People living on the red line (unemployment) are suffering. Millions of people have been severely affected by the economic fallout of this pandemic. At the same time, there are a lot of people who have done well in 2020. The people living on the green line have seen steady and significant growth in their tech stock portfolio.In this episode of the Bob & Bryan Show, Bob and I talk about a way that people living on these two lines might connect – through generosity.
Donating stock is a great way to help organizations that you care about without paying a capital gains tax. If you really want to make a difference in the ministry you love, consider donating stock this year. If you’re not convinced, just listen to how Paul Newman explains it.
You may not know it, but there is a way that you can give directly to people in need while still enjoying a tax deduction from your gift. Terry Parker, the founder of NCF, created a platform that serves as a non-profit mediator between a giver and the specific people/neighbors that a giver wants to help. The platform is called Helping Hands. Gifts made through the platform are verifiable and transparent. If there is someone specific in your life who needs a leg up, Helping Hands might be a tool that works for you.
We are adopted sons and daughters of God’s original plan. We are part of Abraham’s blessing. Everyone spends a little time on the red line and a little time on the green line at some point in their life. When we are on the green line, we should remember that we were blessed to be a blessing to our neighbors. Look around, see who needs help, get in there and do some good.
I will bless you and make your name great, so that you will be a blessing. (Gen 12:2)