Colorado Child Care Contribution Credit

Overview
A 50% Colorado state income tax credit is available to donors who make monetary contributions to Smart-Girl, Inc.  The credit is available under the provisions of the Colorado Child Care contribution Credit, which was created to promote childcare in Colorado.  (Smart-Girl, Inc qualifies as an "after-school program.")  The donor must inform Smart-Girl, Inc at the time of the donation that he or she wishes to have the credit apply.   Such donations will be applied exclusive to Smart-Girl, Inc programs, not general operating funds.

Effect of the Credit
When you make a donation and take advantage of the credit, half of your donation to Smart-Girl, Inc will be offset by a reduction of your Colorado income taxes.  In addition, you will still be able to claim your donation as a charitable contribution.

Maximum Credit
The maximum credit you may take in one year is $100,000 (on a $200,000 gift) or your actual Colorado income tax liability for the year, whichever is less.  Any unused credit may be carried forward for up to five additional years.

Other Guidelines
Gifts must be monetary donations.  In-kind gifts, such as stock or other securities, labor equipment are not eligible.  As required by law, Smart-Girl, Inc will provide you with a signed statement of the amount of the monetary contribution eligible for the credit.  Please consult your financial advisor regarding your specific tax situation.

Here's an example of how the credit works assuming a 39% income tax bracket:

Your minimum gift amount	$500.00
Colorado state income tax credit	($250.00)
Colorado state income tax reduction	($23.20)
Federal income tax deduction* (Max rate)	($87.60)
Total tax savings	$360.80

Donate Now!

*Note: Federal tax deduction benefit is reduced because of the add-back effect of reduced
state taxes.