Donating securities to Bull Lake Fire District Information

Charitable giving is a great way to support the causes you care about, as well as help reduce your

tax burden. Ways to give back include in-kind donations, monetary gifts and volunteering.

Donating securities and/or cash directly to Bull Lake Fire District from your non-IRA brokerage

account, IRA or other retirement accounts may potentially save you tax.

For donations to charity from a non-IRA account:

"If you donate stock that has increased in value since you bought it more than a year ago – and

if you itemize deductions -- you can take a charitable deduction for the stock’s fair market value

on the day you give it away. You’ll also avoid capital-gains taxes on the increase in value over

time, which you would have had to pay if you sold the stock then gave the charity the cash

proceeds. You can deduct the fair market value only if you hold the stock for more than a year

before giving it away. If you’ve held it for less than a year, your deduction is limited to your

In most cases, donating cost basis -- what you paid for the stock -- not the current value. appreciated s

ecurities can be a cost-effective way to benefit the charities of your choice."

For donations to charity from a IRA or retirement account:

"people over age 70½ have been able to transfer up to $100,000 from their IRAs to charity tax-

free. The gift counts as their required minimum distribution for the year, but it is not included in

their adjusted gross income. This can be a great way to avoid having to pay taxes on your RMD

if you want to support a charity, and it gives you a tax break even if you don’t itemize your

deductions."

The tax aspects of charitable giving can be complex, so it's a good idea to consult a tax

professional about your personal giving strategy.

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To donate, give transfer instructions to your advisor or brokerage firm. The information they

will need is: Bull Lake Rural Fire District; DTC # 0164; Schwab account # 7405-5969.

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