If you select the Child Care Tax Credit option on the donation form, you will receive the necessary document at the beginning of the year to enable you to apply for this on your taxes. Here is a sample of what it can do to your donation.
Your gift: $1000
Federal Tax Savings (assumed 24% tax rate): ($240.00)
Colorado Tax Savings (4.63% tax rate): ($46.30)
Colorado Income Tax Credit (50%): ($500.00)
Your out-of-pocket contribution: $213.70
Talk to your accountant or CPA to learn more!
Your gift
Federal Tax Savings (assumed 24% tax rate)
Colorado Tax Savings (4.63% tax rate)
Colorado Income Tax Credit (50%)
Your out-of-pocket contribution:
Talk to your accountant or CPA to learn more!
$1000
($240.00)
($46.30)
($500.00)
$213.70