Child Care Contribution Tax Update!
Your donation to CASA of Larimer County and the Harmony House qualifies for the Child Care Contribution Tax Credit (50% state tax credit in addition to the standard Federal and State income tax deductions). For more information, consult your tax adviser and see the FYI Income 35 Document from WWW.colorado.gov.
The effect of the credit is that half of your donation to CASA and the Harmony House is offset by a reduction of your Colorado income taxes. You will still be able to claim your full contribution as a charitable deduction on your Federal and State income tax returns if you itemize deductions.
Examples of the total impact on your taxes are shown in the chart below. As always, you should consult with your tax advisor to determine how the credit will affect you personally.
In-kind contributions of property (non-monetary donations) do not qualify for the credit. [§39-22-121, C.R.S.]