Now Is the Time to Use a Charitable Remainder Trust

“As the stock market falls and inflation rises, some people need more cash now to meet rising costs. They often have a quandary, however, since their investments, even with a decline in value over a year ago, still have large unrealized capital gains. If they sold now, they would have to pay federal capital gains taxes of at least 23.8% for stocks (or 31.8% for artwork and collectibles), plus state income taxes. The result is that either they sell now at a lower value, and pay the tax, or hold the investment with hopes that it will recover before their costs outpace their income.” Read more from Wealth Management here.

3-minute read

(Source: Wealth Management)