Hurry! Reserve Tax Credits Before They’re Gone!

Did you know that we have 50% tax credits available for donations of $100 or more to LifeHouse Crisis Maternity Home? What this means for you is once you make your donation, you will receive half of the gift amount back on your Missouri state taxes, and you can still claim your normal federal and state charitable deductions for the full amount of the gift.

Gifts made by check, credit card, or stocks, bonds and securities are eligible for this credit.

Claiming Tax Credits is Easy. Here’s how it works:

  1. Make a contribution to LifeHouse of $100 or more;
  2. A Maternity Home Tax Credit Application will be mailed to you with your gift acknowledgement; complete, sign and return the application to LifeHouse;
  3. LifeHouse will complete its portion of the application and forward it, along with supporting documentation, to the Missouri Department of Social Services.
  4. The Missouri Department of Social Services will provide a Certificate of Tax Credits to you.
  5. File the Certificate with your next Missouri Tax Return to claim the credit.

Example 

Tax credits can result in a savings of up to 75% of the value of your donation.  Here is an example for a donation of $1000 by an individual in the 28% federal tax bracket.*

Missouri Tax Credit (50%)                                                                             -$ 500
Federal Tax Deduction (28%)                                                                        -$ 280
Missouri Tax Deduction (6%)                                                                        -$   60

Federal Tax on State Savings in Year Two                                                 +$140

Total Tax Benefit                                                                                                 $700

Net Cost to Donor                                                                                               $ 300

*This example is for illustration only. Benefits vary depending upon your tax bracket, so please consult your tax advisor to learn how tax credits will work for you. 

The gift provides $1,000 worth of ministry, but $700 comes from taxes, and only $300 comes out of the donor’s pocket!

Please consider making a tax credit gift to LifeHouse and help continue this priceless investment in the women and babies who reside there. Missouri’s Maternity Home Tax Credit program offers an opportunity for individuals, businesses, our state government and LifeHouse to work together on behalf of our community.

For more information, contact Maureen Jersak at (417)720-4213 or mjersak@ccsomo.org.

We have a limited number of tax credits for 2014 so reserve yours today!

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