Author Topic: Mustachian charitable donations  (Read 885 times)

MustachIowan

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Mustachian charitable donations
« on: February 16, 2015, 10:18:41 PM »
I havenít seen any mention of how to approach charitable donations with maximum badassity, so I thought Iíd chime in with my own example.  I use stock that I purchase through my employee stock purchase plan - which is at a minimum of a 15% discount from the market price when I buy it - and then transfer the stock to a 501c3 organization.  The non-profit gets the full value of the stock, I get to deduct the full value as a donation, and yet I never pay income tax on the difference between the cost basis and the price on the day of the transfer.  In my best example, I transferred stock that I purchased for about $4,000 that had grown to be worth $10,000.  And then my company matched the $10,000!  I know I would reach financial independence sooner if I kept the money for my own stash, but honestly it felt greedy to keep the money when it could multiply into so much more good elsewhere.