Cash: A Popular Gift

Charitable gifts are most often made in the form of cash and checks. Cash gifts are convenient for many people and are easily recorded through canceled checks and receipts. Remember that it is important to save all receipts to assure maximum tax savings.

Giving Depreciated Property

If you have stock or other property that has decreased in value, you will normally save more in taxes by selling them and giving the proceeds to Junior Achievement. You may then be able to claim a capital loss on your tax return. You can also deduct the cash proceeds you give as a charitable gift. The result can be to enjoy tax deductions that amount to more than the current value of the asset.

Examples cited above are for illustration purposes only and should not be construed as tax advice. For information and counsel on current tax laws, especially as they pertain to charitable giving, please consult an attorney, tax professional or the IRS.

Junior Achievement is a 501(c)(3) charitable organization, to which contributions are tax-deductible to the extent permitted by law. Gifts are processed by and receipts disbursed by PayPal.