Virginia Health Information Project __________________________________________ __________________________________________
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The
Virginia
Health Information Project is a project of the
Soho Center, a 37 year-old non-profit with
a successful history of
helping children and families.
Soho
Center's Director, Jeanna
Beker, discusses benefits of the
Virginia Health Information Project for Virginia families with Governor-elect, Bob McDonnell
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A
Unique Virginia-Only Tax-Saving Opportunity
As
you
plan
your personal or corporate charitable
giving, please consider supporting the Soho Center and
our innovative
health and child-related
projects.
Virginia
individuals and businesses donating to the Soho Center can
receive VA Income Tax Credits
worth
fully 40%
of their
donated amount.
These VA Income Credits can then be used - dollar for dollar
- to
pay the
donor's Virginia Income Taxes. And this is in addition
to getting
the full federal deduction for your donation. Please read below for
the details.
F i r s t : F e d e r a
l
D e d u c t i o
n s f o r D o n
o r s
As
a long-established 501(c)(3) non-profit,
tax-exempt organization, the Soho Center gratefully accepts donations
in
support of our activities. Each donation generates a tax
deduction
on the donor's federal income tax return. That's the same
deduction a donor gets for donating to any federally-recognized
non-profit. But there's more . . .
S e c o n d : A n
E x t r a
4 0 % T a x O p p o
r t u n i t y
f o r V i r g i n i
a
I n d i v i d u a l s a n d
B u s i n
e s s
D o n o r s Of
special interest to
donors that have Virginia income tax obligations is the Soho Center's long and continuing participation in the
Commonwealth's
Neighborhood
Assistance Program (NAP).
Under
this
special program, a donation of cash or securities to the
Soho Center by any Virginia corporation, partnership, sole
proprietorship, individual or couple also
generates a
Virginia Tax
Credit worth 40%
of
the amount donated. This credit can be used - dollar for
dollar - to pay your
Virginia Income Tax obligations. And this extra 40% Virginia
Income Tax Credit is in
addition to the full federal tax savings from
the donation.
Here's
an example of the benefits of this unique tax-saving benefit -
Assume a donation of $1,000* by
check or in marketable
securities. This donation would give a donor the standard
$1,000 federal deduction (worth
a tax savings of up
to approximately $350 depending on the donor's tax bracket).
In addition to the full federal
deduction, the donor would also receive
an extra $400
tax credit. The donor can then use this
credit -
dollar for
dollar - to pay their Virginia Income Tax obligations. And
this credit can
be rolled forward for up to five years.
Put
another way, a donation of $1,000 from a Virginia individual, couple,
or
business provides $1,000 of support for the Soho
Center, while
generating up to approximately $650 of tax savings for the donor - making
the net
cost of the donation approximately $350.
To make your donation by credit card or through PayPal, please Click Here. After you
make your online donation, please call us at 540-923-5012 to
get
the simple one-page form needed to file for your 40% Virginia Income
Tax Credit. If you would rather send your donation to
us directly, please call us at 540-923-5012. If you are considering a donation of $5,000 or more, please be sure to check our our special ZERO-COST donation program. This special ZERO-COST opportunity is limited to those in the 25% or greater federal tax
bracket and who pay over $2,000 in Virginia Income Tax.
Please Click Here for details on this
opportunity. |
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*
NOTE: To receive Virginia Income Tax Credits equal to 40% of
a donation, a business donor must make a contribution of at
least
$1,000. An individual or couple must make a
donation of at
least $500. Please call us at 540-923-5012 for additional
details.
For
more information on the
Soho Center, click here
to visit our extensive website.
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