See More: Monthly Tax Tips

Monthly Tax Tips

Non-Cash Assets: An Option for Satisfying Year-End Charitable Giving

Gelman, Rosenberg & Freedman CPAs is a member of CPAmerica International, an association of CPA and consulting firms that provides industry knowledge including insightful articles, to help member firms serve clients and other individuals and organizations.

Oct 3, 2012

Is it time to start thinking about year-end charitable gifts and bequests – but you’re short on cash?

Have you considered non-cash asset contributions?

When most people think about donating non-cash assets, they generally consider the donation of appreciated stock only, but you should also consider the following:

  • Real estate
  • Closely held stock
  • LLC and partnership interests
  • Life insurance and annuities
  • Mineral interests
  • Restricted stock
  • Stock options
  • Collectibles/art
  • Intellectual property

Satisfying year-end charitable gifts and bequests with non-cash assets requires satisfying substantiation provisions of the IRS Code and is subject to certain limitations. Please consult your tax adviser for additional details.

This tax tip contributed by:

Phillip D. Beaman, CPA
Shareholder 
Monroe Shine & Co., Inc.

Andreas is an ace in the hole for us.  We not only leverage his expertise to monitor our investments around the world, but we view his biggest asset as the ability to facilitate learning and capacity building across all of our partnerships.  

Michael Letta |  Chief Financial Officer
charity: water