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Joe Jaspers, CFP®
Vice President, Wealth Management
Carolinas Telco Capital Advisors
Located at Carolinas Telco FCU
9813 South Blvd, Suite 101
Charlotte, NC 28273
Phone: 704-391-5600
Toll Free: 800-622-5305, ext. 2608
Fax: 704-556-1652
Email: joe.jaspers@lpl.com
May/June 2021
Charitable Giving: A Win-Win
Is giving to charity on your to-do list? Making a charitable donation to a nonprofit organization allows you to support a cause that's important to you and take a tax deduction.
Research the Choices
You can find information about nonprofits on Charity Navigator (charitynavigator.org) and BBB Wise Giving Alliance (give.org). These organizations help donors make informed giving decisions by evaluating charities based on their finances, governance and effectiveness. Knowing how much of your donation will go toward the charity's mission, rather than toward its administrative costs, for example, may help you decide which organization will use your funds most effectively.There are many ways, other than donating cash, to benefit a charity. Consult your financial and tax professionals for guidance.
Gift Appreciated Stock
Consider gifting shares of stock that have appreciated in value to your favorite charity. By giving appreciated stock directly to a charitable organization, you'll avoid paying capital gains tax on a sale and receive a charitable deduction for your donation. Because of its nonprofit status, the charity won't pay taxes on your gift.Set Up a Donor-advised Fund
A donor-advised fund is a tax-advantaged investment account used for charitable giving. You set up the fund by making an irrevocable donation of cash, securities, or other assets to a sponsoring organization. You're entitled to an immediate tax deduction, but you can wait to choose the charities you want to support. Your funds stay invested until you make a grant. You can designate any IRS-qualified charity, but the sponsoring organization has the final say in where your funds go.Take a Qualified Charitable Distribution
If you are age 70½ or older, you can donate up to $100,000 annually tax free from an individual retirement account (IRA) to a charity. The funds must be transferred directly from your IRA to the charity to avoid paying taxes on the distribution. Donated funds can count toward your required minimum distribution for the year.CONTACT US
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Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Carolinas Telco FCU and Carolinas Telco Capital Advisors are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Carolinas Telco Capital Advisors, and may also be employees of Carolinas Telco FCU. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of, Carolinas Telco FCU or Carolinas Telco Capital Advisors. Securities and insurance offered through LPL or its affiliates are:
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