Housing Assistance Corporation Blog

Tax Credits Ideal for Year-End Giving

Posted by HAC Staff on Wed, Dec 28, 2016 @ 04:01 PM

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As you prepare your year-end-giving, HAC has a tax credit program that can help you stretch your donation further.

The program is open to new donors and those who double their donation from the previous year. Only donations over the $1,000 threshold are eligible for the tax credits.

In return for your donation, you will receive half of it back in the form of a tax credit. This is on top of the federal tax deduction you are allowed to deduct from your taxes. So for a $1,000 donation, you will receive $500 back in tax credits. For a $5,000 donation, you will receive $2,500 back in tax credits. And for a $10,000 donation, you will receive $5,000 back in tax credits.

Those with little to no tax liability could even receive the balance of their credit back in the form of a check from the state.

Since 2014, HAC has been involved in the tax credit program which encourages charitable giving to organizations that are making a significant and positive impact in their communities.

To secure your tax credits before the end of the year, contact HAC’s Margaret Benaka at either mbenaka@haconcapecod.org or 508-771-5400, ext. 272 by noon on Friday, December 30.

Tags: Philanthropy, Margaret Benaka, Tax Credits, donations, Community Investment Tax Credit Program, charitable giving