We are pleased to participate in the Community Investment Tax Credit (CITC) program awarded by the Department of Housing and Community Development (DHCD). We still have remaining funds available for 2017. Time is running out to make your contribution to receive your tax credit benefit for this year.

The CITC program has leveraged nearly $27 million in charitable contributions to approximately 700 projects across the State.

What are CITCs and how does it benefit you?

Community Investment Tax Credits support 501(c)(3) nonprofit organizations by awarding allocations of State tax credits for use as incentives to attract contributions from individuals and businesses to benefit local projects and services.

We are very excited to be able to offer the program benefits to our donors as an incentive to attract contributions f or our Jefferson Street Project. The tax credits earned offset the amount of Maryland State taxes you owe at the end of the year. In addition, if you itemize deductions the amount is also included on your Federal taxes.

"This program is the best charitable tax planning opportunity available to Maryland taxpayers. I’ve personally contributed myself this year. The math varies a little depending on your tax bracket and county of residence. A taxpayer in the highest tax brackets can almost get all their contribution back in tax benefits. Below is an example of a $1,500 donation for someone in the 25% federal bracket, it only really costs them $257." - Ryan Bergey, Bergey & Company, P.A.

EXAMPLE:

Donation Amount	$1,500
MD Tax Deduction (7.9%)	$118
FED Tax Deduction (25%)	$375
MD Tax Credit	$750
Net Donation Amount	$257

Interested in receiving tax credits on your 2017 tax returns? Contact Andrea Canon at (410) 208-4440 ext. 2 or send her an email at acanon@habitatworcester.org.

Additional Tax Benefits for 2017 - Gifting Stock

Looking for a way to offset your capital gain losses? Gifting appreciated stock is one of the most effective means of tax savings available.

The benefits of gifting appreciated stock:

The satisfaction of knowing your money is invested in a cause important to you.
Capital gains taxes on the stock are avoided.
You will be eligible to receive an income tax charitable deduction for the full fair-market-value of the stock at the time of the gift.

Questions about donating your stocks or bonds? Contact Jeremy Meyer at Jeremy.meyer@cipadvisor.com or call (757)787-4279 ext. 106