Stock Donation Announcement
Stock Donation Announcement
The Muslim Society of Jersey Shore
Assalamu alaykum,
Donate stocks directly to charity to enhance your impact. This can increase your gift's value and tax deduction by avoiding capital gains taxes, which can be as high as 23.8%. The charity receives the full proceeds, maximizing funds for your preferred causes.
**Frequently Asked Questions**
**Why donate stock instead of cash?**
Donating securities held for over a year provides a full fair market value tax deduction and avoids capital gains taxes.
**What is the AGI limit for donating stocks?**
Deductions for appreciated securities are limited to 30% of adjusted gross income (AGI), while cash contributions can be up to 60% of AGI.
Your continued support is deeply valued.
Abu Hurairah (May Allah be pleased with him) reported:
The Messenger of Allah () said, "When a man dies, his deeds come to an end except for three things: Sadaqah Jariyah (ceaseless charity); a knowledge which is beneficial, or a virtuous descendant who prays for him (for the deceased)."
[Muslim].
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