https://abs.twimg.com/emoji/v2/... draggable="false" alt="✳️" title="Stern mit 8 Strahlen" aria-label="Emoji: Stern mit 8 Strahlen"> Stock Investor Tips https://abs.twimg.com/emoji/v2/... draggable="false" alt="✳️" title="Stern mit 8 Strahlen" aria-label="Emoji: Stern mit 8 Strahlen">

There was a lot of commotion about how much President Trump paid in federal income tax recently

Most financially literate people know that (if done correctly) this is legal

There is also a “tax hack” you can implement through stocks https://abs.twimg.com/emoji/v2/... draggable="false" alt="👀" title="Augen" aria-label="Emoji: Augen">

[Thread]

https://abs.twimg.com/emoji/v2/... draggable="false" alt="◽️" title="Weißes durchschnittliches kleines Quadrat" aria-label="Emoji: Weißes durchschnittliches kleines Quadrat">Charitable Contributionshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="◽️" title="Weißes durchschnittliches kleines Quadrat" aria-label="Emoji: Weißes durchschnittliches kleines Quadrat">

*Donating to charity is tax-deductible

*Most folks donate cash to charity and then write it off on their taxes

*A more efficient way to reduce your taxes is through donating stocks https://abs.twimg.com/emoji/v2/... draggable="false" alt="💡" title="Elektrische Glühbirne" aria-label="Emoji: Elektrische Glühbirne">

https://abs.twimg.com/emoji/v2/... draggable="false" alt="◽️" title="Weißes durchschnittliches kleines Quadrat" aria-label="Emoji: Weißes durchschnittliches kleines Quadrat">Why Do It?https://abs.twimg.com/emoji/v2/... draggable="false" alt="◽️" title="Weißes durchschnittliches kleines Quadrat" aria-label="Emoji: Weißes durchschnittliches kleines Quadrat">

*There are 3 major benefits:

https://abs.twimg.com/emoji/v2/... draggable="false" alt="1️⃣" title="Tastenkappe Ziffer 1" aria-label="Emoji: Tastenkappe Ziffer 1"> No capital gains tax needs to be paid for the appreciation you earned since you bought the stock

https://abs.twimg.com/emoji/v2/... draggable="false" alt="2️⃣" title="Tastenkappe Ziffer 2" aria-label="Emoji: Tastenkappe Ziffer 2"> The total market value of your stock at the time of donation is tax-deductible

https://abs.twimg.com/emoji/v2/... draggable="false" alt="3️⃣" title="Tastenkappe Ziffer 3" aria-label="Emoji: Tastenkappe Ziffer 3"> Can donate more $ value instead of giving cash

https://abs.twimg.com/emoji/v2/... draggable="false" alt="◽️" title="Weißes durchschnittliches kleines Quadrat" aria-label="Emoji: Weißes durchschnittliches kleines Quadrat">What’s the Catch?https://abs.twimg.com/emoji/v2/... draggable="false" alt="◽️" title="Weißes durchschnittliches kleines Quadrat" aria-label="Emoji: Weißes durchschnittliches kleines Quadrat">

*You would have to sell a “winner”
(works best if you were intending to sell the stock in the first place)

*You can only donate stock(s) worth up to 30% of your adjusted gross income (AGI)

https://abs.twimg.com/emoji/v2/... draggable="false" alt="🔅" title="Niedrige Helligkeit Symbol" aria-label="Emoji: Niedrige Helligkeit Symbol">Conclusionhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🔅" title="Niedrige Helligkeit Symbol" aria-label="Emoji: Niedrige Helligkeit Symbol">

*Donating a stock versus cash to charity can provide benefits for both you and the organization

*There are more details to consider that maybe Money Twitter’s resident tax expert @AskForTaxAdvice can provide via a more detailed thread https://abs.twimg.com/emoji/v2/... draggable="false" alt="😁" title="Grinsendes Gesicht mit lächelnden Augen" aria-label="Emoji: Grinsendes Gesicht mit lächelnden Augen">