Tax Attorneys Â» Illinois Â» Decatur. Decatur, Illinois Tax Attorneys. Find the Right Lawyer Now. The government of Decatur, Illinois collects taxes from its residents in order to pay for general public services, like police and fire departments, libraries, hospitals, and public transit. In Decatur, Illinois, taxes are derived from different sources.
Can I donate stock to charity? Giving stock, instead of cash, as a donation can greatly benefit both parties. You will find that most charities, hospitals, schools and other nonprofit organizations will accept stock as a gift or donation. If the stock has increased in value from the time of purchase, the owner can avoid paying the capital gains tax by donating the security to another party.
It now has appreciated to $10,000 and you wish to gift the entire amount to your favorite charity. If you sold the stock in order to write a check to charity, you would pay 15% in capital gains tax on the stock appreciation. In this example, the stock appreciation is $8,000.ext, look for highly appreciated stock. You should be able to see a gain/loss report from your custodian. Check this list for some of the categories that are out of balance, and see how much they have appreciated. This step of choosing highly appreciated stock is what allows you to save money on your taxes.