Put your Chanukah gelt to good use. And save taxes, too!

Put your Chanukah gelt to good use. And save taxes, too!

A. YEAR-END TAX SAVINGS

With the end of the calendar year quickly approaching, it’s a great time to think about supporting Adath Israel AND to do so in a tax-efficient way!

Making donations before December 31st is an excellent way to reduce taxes and we’ve made it easy for you.

To make your online donation, just click HERE or call the office at (416) 635-5340 (301) before December 31st so you can receive your 2021 charitable receipt…and reduce your taxes!

B. DONATING SHARES OF STOCK: THE ULTIMATE WIN…WIN…WIN!

By donating publicly traded securities that have increased in value during these record-high days of the stock market, the tax savings can be tremendous.

Donating securities directly to Adath Israel will eliminate paying ALL capital gains tax on those shares AND you will receive a charitable tax credit for the full present-day value of the shares.

There is no better win-win and it’s as easy as 1-2-3!

  • STEP 1: DOWNLOAD & COMPLETE THE TRANSFER FORM [Click HERE]
  • STEP 2: SEND THE TRANSFER FORM TO YOUR BROKER/ADVISOR
  • STEP 3: SEND A COPY OF THE TRANSFER FORM TO ADATH ISRAEL

Just like that, you’ll eliminate the capital gains tax on the donated shares AND receive a charitable tax credit for the fair market value of the shares.

Here’s an example of how this works and the tax savings you can receive for every $10,000 worth of shares donated, assuming a tax rate of 50%:

We encourage you to speak with your financial advisor to determine which stocks create the best financial benefit for you.  If you have further questions, please call our office at (416) 635-5340 (Ext 301).

Chag Urim Sameach!

*Figures shown are for illustration purposes only. Actual tax savings arising from charitable donations will vary from donor to donor and depend on the donation amount, actual cost of the shares, sale price, and the donor’s tax rate. Charitable receipts are determined by the closing price of the shares on the day they are RECEIVED in Adath Israel’s brokerage account.

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