For many families the new tax law means that charitable giving will effectively not be deductible on your federal taxes anymore (due to the doubled standard deduction).
However, there is some good news here in Colorado.
Colorado gives a tax credit towards your Colorado taxes for 50% of the amount of your donation to qualified child care centers like Kid's Camp or Preschool. See this website for an explanation on the difference between a credit and a deduction- a credit is much better! Your donation goes towards offsetting the cost of running these programs:
Although everyone's taxes are unique (it is a non-refundable tax credit, so if you don't pay Colorado taxes you won't get any money back), for most people this essentially means that for every $2 you donate you will get a refund of $1 on your Colorado taxes.
If you are interested in donating to Kids’ Camp, send your check to:
Kids' Camp- Tax Credit (Please indicate your school of choice)
If you are interested in donating to a preschool, send your check to:
Preschool- Tax Credit (Please indicate your school of choice)
They will fill out the district portion of the Colorado Form DR 1317 and send it back to you so you can submit with your Colorado Tax Return to get the credit.
See this website for more information: https://www.colorado.gov/pacific/sites/default/files/Income35.pdf
or contact the Early Childhood Council of La Plata County at (970) 247- 0760.