Big Brothers Big Sisters of Central Missouri
has tax credits available!
Individuals and businesses interested in receiving tax credits can make a donation to Big Brothers Big Sisters of Central Missouri of $500 or more*. These tax credits are made possible through the Youth Opportunities Program. The use of tax credits allows a donor to receive the majority of their gift back at the end of the year when combining a 50% Missouri tax credit with federal and state charitable deductions. This program allows you to leverage a small net expense into a significant donation to help change the life of a child here in Central Missouri.
Example: Cash Donation
Donation: $500
| Less charitable gift deduction |
|
| State 6% |
-30 |
| Federal 35% |
-175 |
| Less 50% Missouri tax credit |
-250 |
Year end Net Donor Cost: $ 45.00
Example: Appreciated Stock Donation
Donation value (cost basis $4,000) $10,000
| Less charitable gift deduction |
|
| State 6% |
-600
|
| Federal 35% |
-3, 500 |
| Less 50% Missouri tax credit |
-5,000 |
Less capital gains tax savings (15% x $6000) -900
Year-end Net donor Cost: $0
These tax credits are available on a first come, first served basis. Tax credits may be applied to the tax year in which the donation was made or anytime within the next five tax years. To inquire about making a donation and/or to receive an application for claiming tax credits, please contact Georgalu Swoboda at 573-874-3677 ext. 201 or Georgalu.Swoboda@bigsofcentralmo.org
This serves as an example only. Individual situations may vary. Please consult your legal and tax advisors for more information on ways this program can specifically benefit you.
*Exceptions available.
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