Community funding, business sponsorships and individual donations are critical for Seeds of Learning. Please consider a financial gift to help our program flourish.
Colorado residents: your donation can go even further through the Income 35: Child Care Contribution Credit. Taxpayers, including individuals, corporations, and other business entities, that make a monetary contribution to eligible child care providers in Colorado may qualify for an income tax credit of up to 50 percent of the total contribution.
To qualify you must have a Colorado tax liability equal to or greater than the credit. In addition, if you itemize deductions on your Federal tax return, there is another tax benefit.
For example, for those in the 25% Federal tax bracket, a $1,000 donation would result in a $750 saving: $500 on Colorado taxes and $250 on Federal taxes.
At the end of the year, Seeds of Learning will furnish you with a DR 1317 tax credit certification. Be sure to discuss this with your tax preparer and supply them with this document, as evidence of your donation.
This Colorado tax law is a win-win for those who support quality child care and those who provide early education.
Seeds of Learning uses generous donations to continue to educate at-risk children and care for toddlers, while donors like you are rewarded with an excellent tax break.
NOTE: certain conditions must be met each year to take advantage of the credit. Please check with your tax advisor for the most current information.