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November 8, 2009 12:00 am
Tax Strategies for Charitable Giving
If you’re so inclined and can afford to share your wealth, the tax law will reward you. Due to the recession, many charities are reporting that giving is down and your contributions are needed now more than ever.
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Tax Glossary
Appreciation in value
Increase in value of property due to market conditions. When you sell appreciated property, you pay tax on the appreciation since the date of purchase. When you donate appreciated property held long term, you may generally deduct the appreciated value.
