Tax Credits Calculator
Tax Credits can help you make a larger gift than you ever thought possible!
Do you pay income taxes? (to the state of Missouri and the IRS)?
Do you believe Missouri Baptist Children's Home or the state will use your money better in a way that honors God?
Consider this Sample Tax Credit Gift. (For a $1,000 gift from someone in a 39.6% tax bracket)
|Source of Tax Benefit||Value of Tax Benefit|
|State Tax Credit||(50%)||$500|
|State Income Tax Deduction||(6%)||$60|
|Federal Income Tax Deduction||(39.6%)||$396|
|TOTAL TAX BENEFITS
(GOVERNMENT'S PORTION OF GIFT)
Gift provides $1,000 worth of ministry, $956 came from taxes.Only $44 came out of the donor's pocket.
For more information call 1-800-264-6224