Digital Assets
Bitcoin, Ethereum and other digital assets have appreciated exponentially since they emerged on the scene over a decade ago. Highly-appreciated assets like cryptocurrency can be a double-edged sword. Many crypto investors have seen substantial growth in their personal wealth over the years. But with that increased value comes increased capital gains taxation and the potential for extreme market volatility. As a faithful Catholic in Central Florida, there are ways for you to bypass some of that capital gain and take a substantial income tax deduction. You can donate digital assets to establish or build a Donor Advised, Reserve, or Endowment Fund. You can also use your volatile cryptocurrency to set up a gift that will reinvest in more traditionally stable assets while generating long-term payouts to you or your loved ones. By setting up a Charitable Remainder Trust you can take an income tax deduction, bypass your capital gains and receive payouts for your lifetime or a term of up to 20 years.
If this idea has piqued your interest, contact one of our Philanthropic Advisors at donorservices@cfocf.org or call 407-246-7192. We would be thrilled to help you meet your philanthropic goals and further the mission of the Catholic Church here in Central Florida.
NOTE: It is our policy that all digital assets received as gifts are sold as soon as reasonably practicable.
