Colorado Child Care Contribution Tax Credit

Give to Roundup River Ranch. Take advantage of the Colorado Child Care Contribution Tax Credit. What a great ideal 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%. 
  • For tax years 2016 through 2021, you will be able to claim 100% of the remaining and additional accrued credits.  

Colorado Child Care Contribution Tax Credit Table

 

 

 

 

 

 

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 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. Figures are based on recent IRS regulation changes.

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.

 

 

 

Other ways to save on your taxes, please visit our IRA Charitable Rollover webpage.


For additional information, please visit www.colorado.gov or contact Director of Development, Cathy Ethington at cathy@roundupriverranch.org or 414.418.7328.

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

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