Giving Smarter: How to Give More Without Spending More Words: Dan KamysWhen you donate to a cause you care about, how you give can be as important as how much you give. The Masonry Foundation's "Donation Impact Maximizer" shows you how to make your donation go further. The secret is giving stocks or other assets directly instead of selling them first. This saves you money on taxes and gives more to the charity.The Common Way People Donate (and Lose Money):Let's say you have stock worth $20,000 that you want to donate.Most people sell the stock first and then give the cash to the charity.Selling that stock can cost you a lot in taxes. For a $20,000 stock, you might pay around $2,150 in capital gains tax.This means the charity only gets $17,850. The rest of your intended donation goes to the government.A Better Way to Give:Instead of selling the stock, you can donate it directly to a qualified charity like the Masonry Foundation.You avoid paying any capital gains tax.The charity, being tax-exempt, can sell the stock for the full $20,000 and doesn't have to pay taxes on it.This simple change means the charity gets the full value of your donation—in this case, an extra $2,150 to support its work.What's in It for You?This method is a win-win for both you and the charity.You pay zero capital gains tax on the donated asset.You can still get a tax deduction for the full market value of the stock at the time you donate it.This means you give a bigger gift to the charity and get a better tax break, lowering the actual cost of your donation.Giving assets directly is a smart financial move that helps both you and the cause you support. It's a simple process that usually just involves talking to a financial advisor and filling out a form. By thinking about how you give, you can make sure your generosity has the biggest possible impact.About: Industry News