Childcare Contribution Tax Credit
We are licensed by the Department of Human Services as a child care center. A donation to TLC Learning Center may qualify you, as a taxpayer, for a 50% State of Colorado tax credit, in addition to the normal state and federal deductions for the donation. For more information, please contact your CPA or financial adviser for the specifics of these significant potential tax savings.
Here’s an example…
An individual in the 25% federal income tax bracket who makes a $1000 contribution to TLC will obtain a reduction in their combined federal and Colorado income taxes of around $800. Simply put, this means that a $1000 donation to TLC will have an after-tax cost of about $200.
Visit the Colorado Department of Revenue for more information on this tax credit, or download our tax credit flier. The video below provides an overview of how much your after-tax donation could cost, as well as the benefits of contributing to childcare in Colorado.