If you were to sell the securities you might owe capital gains tax, but if you contribute these securities directly to a charitable organization such as the parish, you may totally avoid the capital gains tax but still get a tax deduction for the full value of the securities. If you were to do this before the end of the year, this may be a convenient way to pay your 2014 pledge without using cash, but get a 2013 deduction.
For those of you over 70½ years young who have IRA accounts, there may also be advantages in making a contribution directly from your IRA.
If these methods of making a gift are of interest to you, please contact our parish treasurer, Jackie Graham, through the church office. Jackie can help you through the process, which is not complicated.
As with any action having financial and income tax implications, always check with your financial, tax, or legal advisor first, to make sure it is appropriate for you.