As a team of financial advisors who is passionate about educating their clients and creating personalized financial strategies, HCR Wealth provides insight about the benefits of donating to charitable organizations. Generally, by year’s end, investors will choose to donate to their favorite charities by means of cash or stocks.
Donors often opt to donate cash as a habit to decrease their taxable income. By reducing their taxable income, their overall tax liability will also decrease. This option is a consistently viable one but donating stocks in lieu of cash can also be beneficial for both the charitable organization and the philanthropist.
Benefits of Donating Stocks
For charitable donations given by means of stocks, taxpayers who itemize their deductions at the end of the year can potentially reduce their tax liability; the amount is contingent upon the tax laws applicable for that year.
Another benefit of donating stocks is that removing them from the investor’s portfolio can help to avoid the hefty federal capital gains tax which can be as high as 20%. Medicare imposes a 3.8% tax rate on capital gains as well, not to mention some states who charge their own percentage. Donors will release the tax liability and potentially give the charity more money by getting the full market value of the stocks.
Providing sound financial advice to its clientele is a central tenet of HCR Wealth Advisors’ philosophy, especially when clients are dealing with the vicissitudes of life. Even when you are in a favorable position with the means to donate, having a registered investment advisory firm assist you when you are making pivotal decisions provides an invaluable peace of mind.
This article is provided for informational purposes only and should not be interpreted as investment advice.
Brian Torchin loves the health care industry. He started out by earning a Bachelor’s of Exercise Science from the University of Delaware. He applied his knowledge in the field of chiropractic medicine. During his many years in the medical field, Brian noticed a peculiar thing that made it hard for medical professionals to find work. Many of the jobs in the health care field are not advertised. This makes searching for work in the health care industry challenging. Brian Torchin saw an opportunity and started his own company, HCRC Staffing to serve the medical community.
HCRC Staffing offers employers access to a full range of qualified candidates that are available for hire. There are many advantages to employers who use HCRC Staffing. HCRC Staffing has qualified medical professionals at every level ranging from front desk receptionists, nurses, doctors, dentists and everything in-between, including specialists.
They offer a fast response time to an employer’s request for a list of qualified job candidates. HCRC Staffing uses intensive phone interviews to pre-screen job candidates before referring them to an employer. There are no up front fees. This is a risk free opportunity for an employer to interview all of the qualified applicants at no cost. An employer only has to pay a fee for the people that the actually hire.
HCRC Staffing also offers many advantages to people seeking work in the medical field. When a medical professional comes to HCRC Staffing they have access to thousands of job openings listed by hundreds health care companies across the country. This saves job seekers a lot of time when searching for quality work that suits their experience level and salary requirements.
According to Product Hunt, Brian Torchin has used his many years of experience in the medical field to turn HCRC Staffing into a truly unique employment resource. In developing HCRC Staffing, Brian Torchin created a highly-trained group of medical professionals who can serve as consultants to help clients with every aspect of the hiring process, including contract negotiations.
HCRC Staffing serves clients in all 50 states. HCRC Staffing also serves clients in Canada, Australia, Asia and Europe. They offer extended office hours to accommodate their overseas customers.