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Wednesday, September 08, 2010 ..:: About Us » Tax Deduction & Idaho Tax Credit ::.. Register  Login
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 Tax Deduction & Idaho Tax Credit Minimize

The Northwest Children's Home is a private, non-profit youth rehabilitation facility and an educational entity.  This means that tax payers who donate to our organization may qualify for tax deductions as well as tax credits in the State of Idaho.

Qualified Individual Contributions

Individuals contributing to Youth Rehabilitation Facilities (our Residential Services) can qualify for a 50% Idaho tax CREDIT limited to $100 individually and $200 when filing jointly. This rule also applies separately to Educational Institutions (our Education Centers). Here is an example of your out-of-pocket cost if you are in the 25% federal tax bracket and the 7.8% Idaho tax bracket and you deduct your donations as an itemized deduction.

Donation:                   Individual $500       Joint $500

Federal taxes saved:         ($125)               ($125)

Idaho taxes saved:             ($ 39)                 ($ 39)

Idaho tax credit                   ($100)               ($200)

Out-of-pocket cost             $236                    $136

Please consult your tax adviser as your particular circumstance may differ.

Qualified Corporation Contributions

Corporations contributing to Youth Rehabilitation Facilities (our Residential Services) can qualify for a 50% Idaho tax CREDIT limited to $500. This rule also applies separately to Educational Institutions (our Education Centers) and the tax credit is limited to $1000.  Here is an example of your out-of-pocket cost if your corporation is in the 33% Federal and state tax bracket:

Donation                                     $1500

Federal & state taxes saved   ($500)

Idaho tax credit                          ($500)

Out-of-pocket cost                      $500

Please consult your tax adviser as your particular circumstance may differ.

 


   
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