The 10 Best-Performing Stocks: January 2023

by | Jan 12, 2023

Kicking off the year with a review of your investment portfolio? If your New Year’s resolution is to invest better or you just want to keep track of market trends, a closer look at the best-performing stocks may give you a sense of which sectors or individual stocks could perform well in the future.

While past success doesn’t guarantee positive future outcomes, the stocks listed below have outperformed the S&P 500 Index, a stock market benchmark for the broader market which tracks the performance of roughly 500 companies trading on U.S. exchanges.

What Should You Do With Appreciated Stock?

When you hold stocks that have appreciated in value since the date of purchase, you have several options. First, you can hold them to see if they’ll increase in value further. Of course, that’s a risk you have to be willing to take. If you’re less inclined to hold, you have a couple of alternatives, including:

  • Selling some (or all) your shares of the stock and taking the gains in cash
  • Selling the stock, then reinvesting the gains into other assets
  • Donating the stock to your favorite charity

Are There Tax Benefits for Donating Stocks?

Donating some of your appreciated stocks can be a tax-savvy way to make a positive difference in the world while reducing your tax burden. If you sell a stock, you’ll be liable for paying capital gains taxes, which can be as high as 20% on long term investments held for at least a year. 

But by directly donating some or all of the appreciated stock before you sell, you won’t have to pay capital gains tax on the shares that you donated. (That’s because, for tax purposes, the IRS and tax collecting agencies in several other countries treat stocks as property, which is not subject to the same rules as cash donations.) 

The bottom line is that, by donating stock directly, you may have less to owe the IRS and more to donate to a charity. Doing so can be a smart way to offset some of your total capital gains liability for the fiscal year.

How to Donate Stocks and Other Non-Cash Assets

Investors that wish to donate stock shares or cryptocurrencies to registered charities can browse thousands of nonprofits listed on The Giving Block’s philanthropy platform. 

Discover the benefits of donating stocks to charitable causes.

Disclaimer: This post is informational only and is not intended as tax advice. For tax advice, please consult a tax professional.

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