Tax Benefits

COLORADO CHILD CARE CONTRIBUTION TAX CREDIT

Give to Roundup River Ranch. Take advantage of the Colorado Child Care Contribution Tax Credit. What a great idea all the way around!

Contributions to Roundup River Ranch are eligible for standard charitable contribution deductions as allowed for both state and federal income taxes. In addition, you may also be able to take advantage of the Colorado Child Care Contribution Tax Credit. This is a great way for you to maximize your giving to Roundup River Ranch while reducing the after-tax cost of your gift. This credit is not valid for stock transfers, gifts in-kind, or gifts made through a foundation or donor advised fund.

Here are some quick things you should know:

As a licensed childcare program, Colorado taxpayers who contribute to Roundup River Ranch may be able to decrease the after-tax cost of gifts by more than 50%. 

The table above provides an example of how the tax credit can be applied and is subject to change according to tax laws. Please consult your tax advisor regarding the tax-deductibility of your gift.

Figures in the table are based on a 32% Federal tax bracket with itemized deductions and take into account the state and Federal loss of charitable deductions as a result of the childcare credit on the state income tax return. Also assumed is that the maximum level of deductible state taxes has been reached for federal purposes.

Standard Limitations:

1. Credit is allowed at 50% of donation amount.
2. The credit allowed shall not exceed $100,000 per year.
3. The credit allowed shall not exceed the tax liability for the year. 
4. Credits may be carried forward for up to 5 years.
5. Credit is not valid for stock transfers, in-kind donations or gifts made through a foundation or donor advised fund.

For additional information, please visit www.colorado.gov or contact Kathryn Weller, Vice President of Advancement, at kweller@roundupriverranch.org or call 970.524.5720.

As with all charitable donations, please consult your tax specialist or accountant. 

SAVE ON YOUR TAXES AND HELP
CHILDREN WITH SERIOUS ILLNESSES.

Charitable IRA Rollover

If you’re 70-1/2 or older, transferring funds from your IRA may provide a way to make a generous gift to Roundup River Ranch while reducing your overall tax burden. You may transfer up to $100,000 per year directly from a traditional or Roth IRA, avoid reporting the distribution as income, and have an immediate impact on children living with serious illnesses. If your spouse has a separate IRA, he or she is also eligible to make a charitable IRA rollover gift. The amount of the transfer will not be included in your taxable income, and the transferred amount counts toward the IRA’s required minimum distribution.

To learn more please contact Director of Development, Cathy Ethington at cathy@roundupriverranch.org or 414.418.7328.

Dr. David Cohen, who also gives generously of his time to Roundup River Ranch by serving on the Board of Directors and the Medical Advisory Committee, said that he has been taking advantage of the option to give from his IRA for longer than he can recall.

“My financial advisors told me, ‘It’s by far and away the best way for you to give to Roundup River Ranch,’” he said. “For example, if my minimum required distribution from my IRA in a year is $100,000, I can give $10,000 of that to Roundup River Ranch without incurring the income tax on that portion, so it saves me taxes.”

In addition to tax savings, Dr. Cohen also enjoys seeing firsthand the impact of his gifts on the children and families Roundup River Ranch serves.“We heal the souls of campers,” he shared. “They don’t feel like they are just kids with a disease after spending time at camp. The transformation to their health is just remarkable.”