Housing Assistance Corporation Blog

Tax Credits Ideal for Year-End Giving

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

tax credits homepage.jpg

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

Take Advantage of HAC's Tax Credits This Holiday Season

Posted by Chris Kazarian on Mon, Dec 05, 2016 @ 01:10 PM

Tax Credits (December 2016).png

With the holiday season here, donating to HAC is one way to ensure those in need are cared for at a time of year when they could use it most. Especially with colder temperatures coming, HAC’s work can make a major difference in the lives of those struggling to get by and who may be working two or three jobs just to remain in their apartment or home.

Thanks to HAC’s tax credits, you can make your holiday gift to HAC go further this year. The tax credits are for those who donate over the $1,000 threshold and are either new donors or who double their donations from last year.

In return for your donation, you will receive half back in tax credits. This is on top of the federal tax deduction you are allowed to declare for charitable giving.

Aside from the tax benefits, you can be confident that your gift may be helping a neighbor in need, someone who may be one paycheck away from homelessness. Your gift could help them remain in their apartment and off the streets. And isn’t that what the holiday season is all about?

For more information about HAC’s tax credits, click this link or contact Margaret Benaka at mbenaka@haconcapecod.org or 508-771-5400, ext. 272.

Tags: Fundraising, Tax Credits, Community Investment Tax Credit Program, charitable giving, holiday giving

Tax Credits Put Money Back in Your Pocket!

Posted by HAC Staff on Fri, Sep 30, 2016 @ 05:46 PM

taxes.jpg

HAC has a limited amount of tax credits available as an incentive to increase your donation to support the agency’s housing programs on Cape Cod and the islands. The state put the tax program in place to encourage people to give more to organizations like HAC than they have in the past.

Tax credits are available only for those who donate over $1,000 with the goal of getting new donors and having current donors double their donation as they will receive half back in their taxes next year. So for those donating:

  • $1,000, you will receive $500 in tax credits back.
  • $5,000, you will receive $2,500 in tax credits back.
  • $10,000, you will receive $5,000 in tax credits back.
This credit is on top of the federal tax deduction you are allowed to deduct from your taxes.

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.

The best part of the program is that it allows your dollars to go further in supporting HAC’s mission.

For more information or to reserve your tax credits contact Margaret Benaka at mbenaka@haconcapecod.org or at 508-771-5400, ext. 272.

Tags: Tax Credits, donations, Community Investment Tax Credit Program

HAC Awarded $150,000 in Tax Credits

Posted by Chris Kazarian on Mon, Apr 25, 2016 @ 02:41 PM

fb-logo.jpg

Are you thinking about donating to HAC? There’s an exciting opportunity for you to make your donation go even further while putting additional dollars in your pocket next tax season.

This opportunity, provided through the state’s Community Investment Tax Credit (CITC) program, offers incentives to individuals, businesses and foundations that donate over $1,000 to organizations like HAC.

Here’s how it works: if you donate $1,000 to HAC, you will receive $500 in tax credits that will be refunded to you in your taxes. If you donate $5,000, you would receive $2,500 back. And for a $10,000 donation, you would receive $5,000.

This credit is on top of the federal tax deduction you are allowed to deduct from your taxes.

HAC currently has just over $177,000 in tax credits - $150,000 of that was awarded to HAC last month – that are available to those looking to support our housing programs on Cape Cod and the islands.

If you are interested in learning more about the tax credit program, click this link or contact Margaret Benaka at 508-771-5400 ext. 272 or at mbenaka@haconcapecod.org

Tags: Tax Credits, donations, Community Investment Tax Credit Program