Are you looking for ways to reduce your tax burden while supporting a good cause? If you live in Boise, Idaho, you may be eligible for tax incentives when donating to nonprofit projects. For example, a joint filing couple can claim one. Idaho has a separate tax credit for donations to educational and cultural organizations. Donations to Boise State University are eligible for a 50% tax credit, which is a reduction in the actual tax you owe.
If you itemize your taxes, a donation to the state of Boise allows you to deduct income tax on both your state and federal returns, in addition to the 50% tax credit in Idaho. Idaho also allows you to donate money or assets to certain organizations that focus on youth and rehabilitation, while reducing the amount of Idaho income taxes you owe. Contributions to educational entities, such as Idaho Public Television, may qualify for the Idaho education tax credit. Friends of Idaho Public Television is a non-profit 501 (c) () (charitable) organization and accepts tax-deductible donations designated to support public television programs and productions. Donating to nonprofit projects in Boise, Idaho can be a great way to reduce your tax burden while supporting a good cause. Be sure to check with your local tax advisor or the IRS website for more information on the specific tax incentives available in your area.