Tom Herman
speaker
200 appearances
3 recordings
1 series
first heard Jan 2020
last heard Sep 2022
Tom Herman’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsNo recordings in the last 12 months.Older appearances are listed below; set an alert to hear about the next one.
Appearances
In those cases, you would not be able to deduct the full market value.
So pay close attention to the holding period of stocks you're thinking about giving to charity.
That's a very popular technique, especially around this time of year.
take a look at your portfolio take a look at stocks that you've got that are worth less than you paid for them and consider selling them especially if you're going to sell them anyway if you sell them you can use those losses for tax purposes a capital loss can be used to absorb your capital gains on a dollar for dollar basis and
If your losses are bigger than your gains, you can deduct in most cases up to $3,000 each year against your wages and other ordinary income.
That's why a lot of people go through their portfolio around this time of year and dump losers.
As you said, it's called harvesting their losses.
to offset their gains or use that $3,000 gain against ordinary income.
It's $1,500 if you're married and filing separately, but in most cases it's $3,000 and that's a very valuable tactic.
Donor-advised funds are a very popular and very simple way to donate to charity.
In a typical case, you donate cash, stock, or other assets to the fund.
You get a federal income tax deduction immediately for that year, assuming that you itemize your deductions.
Then you can advise the fund to dole out your gifts to your favorite qualified charities either now or in the future.
You don't have to decide now.
Meanwhile, the money can grow tax-free.
Many funds have no required minimum accounts.
It's another big advantage.
But one other caution on these funds, there is a special rule this year where contributions to donor advised funds don't work.
This year, for 2020, there is a special new deduction of as much as $300 for taxpayers who make cash contributions like checks to charities and who claim the standard deduction for this year.
Donor advised funds are not part of that.
Showing 101–120 of 200 · page 6 of 10
← Previous
Next →