Charitable contributions can be an effective way to lower taxes for the current tax year, but they don’t necessarily have to be made with cash. Charities also welcome donations of company stock, which offer a hidden bonus to donors if the shares have appreciated in value over the years. To reap the tax benefits on private stock donations, however, it’s essential to obtain a business valuation from a “qualified appraiser.” Tax benefits Since 2007, corporate stock has been the most popular type of non-cash charitable contribution. Corporate stock donations amounted to $39.6 billion in 2019, or 54.4% of all non-cash contributions for that year, according to the Summer 2022 Statistics of Income Bulletin published by the IRS. A taxpayer who itemizes can deduct the fair market value (FMV)...