What is a tax credit?
A tax credit is a dollar for dollar reduction on the taxes you owe, as opposed to a deduction that reduces the gross income on which your taxes are calculated. The tax credit program through which you donate determines the credit amount.
Which tax credits are currently available?
Catholic Charities of Denver participates in several tax credit programs that enable you to:
- Give generously
- Receive up to 50%* in tax credit from the State of Colorado
- Multiply your initial gift
|Read more about Child Care Tax Credit||Read more about Enterprise Zone Tax Credit|
*Note: Minimum Gift Amounts:
The tax credits noted above require a minimum gift amount, as indicated:
- Child Care Tax Credit: Minimum gift of $500
- Enterprise Zone Tax Credit: Minimum gift of $250 to Denver's Samaritan House, or minimum gift of $100 to either The Mission in Larimer County, or The Guadalupe Community Shelter in Weld County.
*Note: Tax credit percentages vary by program: The Child Care Contribution Credit (CCCC) has been deferred (but not eliminated) for gifts in 2013. In 2013, taxpayers can claim 50% of their available credit. In 2014, taxpayers can claim 75% of any remaining available credits. And in 2015, all remaining available credits can be claimed.