Dear Editor,
Have you considered donating to the New Explorers Learning Center through Teens Inc.? Here are some things to consider.
Did you know that it matters who you donate to for tax purposes? In fact, if you donate to help fund the...
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Dear Editor,
Have you considered donating to the New Explorers Learning Center through TEENS, Inc.? Here are some things to consider.
Did you know that it matters who you donate to for tax purposes? In fact, if you donate to help fund the new Nederland preschool, not only do you help our local families with small children in Nederland and surrounding areas, it helps provide employment opportunities in our community, retains students for our local public schools, and nourishes young hearts and minds.
In addition, because you are supporting child care in Colorado, you may be eligible to receive a state tax credit.
“Taxpayers that make a qualifying monetary contribution to promote child care in Colorado may claim an income tax credit equal to 50% of the total qualifying contribution. The maximum credit allowed for a tax year is $100,000. Taxpayers may carry forward any excess up to 5 years”. (tax.colorado.gov). For more information, see https://tax.colorado.gov/sites/tax/files/Income35.pdf Colorado Department of Revenue FYI publication Income 35: Child Care Contribution Credit or ask your tax preparer.
Thanks to Jake Schrader and Brandon Raffel from Accounting Specialties in Nederland
for providing this general tax advice.
Jen Karowe
TEENS, Inc. Board of Directors, President
