Spring 2010 - La Puente Home

Stretching your Donation
Understanding Deductions and Special Tax Credits
Your contributions to La Puente, whether they be financial or material,
not only keep our organization running, but they also can qualify you
for tax credits and deductions.
The Enterprise Zone of Colorado
allows Colorado citizens to
choose how a portion of their
tax revenue is appropriated.
For example, when donating to
an organization like La Puente,
through income tax credits and
deductions, the government
helps to pay part of the donation.
For example, if you contributed $500 to La Puente, 28% of that has the
potential to be refunded through federal tax deductions, while another 25%
is returned to you through a CO state tax credit. In total, you’d receive
nearly $300 back.
Donating to our PALS Children’s Program, a certified day-care center,
is another way to receive tax benefits.
Using the credit from the 50% Colorado
State Childcare Tax Credit, a donation
for $500 reduces your taxes by $423.
La Puente’s services are eligible for
these credits and deductions so long
as the individual pays Colorado taxes.
Also, make sure to itemize. Otherwise,
you won’t be able to get the full advantages
of your deductions.
Once your donation is received, a
certificate of tax credit will be mailed to
you. If you have any questions on how
this works, please call 719-589-5909.
Page 29