Donors may now gift shares of stock directly to the Twin Lakes Association through virtually any brokerage firm. This is a new and valuable option the TLA was able to set up in time for 2024 charitable gifts. If you intend to donate this way, do not wait until the last minute, as a gift of stock may take several days to clear. For instructions on how to do this, contact Bill Barton right away at 914-645-3881 or email him at bill10708@gmail.com.
Giving shares is a tax-efficient way to support the TLA, which has seen its budget explode higher with the discovery of invasive hydrilla. By donating shares that have appreciated, you avoid paying any capital gains tax and get the full value of the charitable contribution for tax purposes. The TLA is free to sell the shares immediately and avoid paying any capital gains tax on the proceeds.
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