CO Child Care Tax Credit: Donate to Cal-Wood and Save on Your Taxes

Posted by on Nov 30, 2015 in Blog, News and Events

Did you know that making a monetary contribution to Cal-Wood may qualify you to claim an income tax credit?
Cal-Wood Education Center is a licensed Colorado Child Care Provider. The Colorado Child Care Contribution Tax Credit is available to both corporations and individuals. Colorado taxpayers may claim a state income tax credit of 50% of the total contribution. This means your tax deductible donation not only receives your normal deduction, it’s also eligible for a 50% dollar for dollar tax credit with the state of Colorado. We encourage you to consult with your tax advisor to get a clearer picture of how this tax credit will affect your unique situation.

This is an opportunity to make a bigger impact with your giving and donate more than you might donate otherwise. For example, if you were thinking of donating $500 to Cal-Wood, you could decide to increase your donation to $1000 and receive a $500 credit to use toward your state taxes.

Donations made to support Cal-Wood’s youth programs are 100% eligible for this credit. We will use your donation to provide scholarships for low-income youth who need to experience the mountains at Cal-Wood.

 

Important Note Regarding Online Donations
If you are donating online through the Colorado Gives website and want your donation to be eligible for this credit, be sure to direct your donation to: “Program.” Also choose “Yes” for the dropdown item that says:
“I would like this donation to be considered for Enterprise Zone Tax Credit and/or Child Care Tax Cre.”

CGD 2015_Master

 

QUESTIONS?

Contact your tax advisor. For specific questions that need to be directed to us, please contact our development department at 303-449-0603 x 5.

Also, visit the Colorado Department of Revenue’s website:
https://www.colorado.gov/pacific/sites/default/files/Income35.pdf 

 

 

 

Please like & share:

Do you love Cal-Wood? Please spread the word!