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Let the State of Michigan and Federal Government refund a portion of your gift to MCREST!
Michigan has made it possible for you to qualify for a special tax credit based on your gift to support us. |
Tax credits have greater value than tax deductions because they are a reduction of the tax you are required to pay, not a reduction of income that is subject to taxation.
A tax credit is an amount equal to 50% of your gifts, within established limits. Gifts to MCREST that qualify for the Michigan State Tax Credit total $200 for single individuals and up to $400 for married couples filing jointly.
Gifts of amounts lower than the established limits may also qualify for the Michigan State Tax Credit.
When you add your federal tax deduction, your gift to MCREST costs you even less!
The net cost of your gift is amazingly much lower than the size of your gift!
| Two examples of tax savings for gifts to MCREST |
|
SINGLE (Individual) |
MARRIED
(Filling Jointly) |
| |
|
|
|
| Your Gift Amount |
|
$200.00 |
$400.00 |
| MI Tax Credit |
|
-100.00 |
-200.00 |
| Federal Tax Savings |
|
-56.00 |
-112.00 |
| |
|
|
|
| Your NET COST of Gift |
|
$44.00 |
$88.00 |
| |
|
|
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For more information about how your gift can help the homeless, call us at 586-415-5101.
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and major credit cards.*
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2006 MCREST. All rights reserved.