Tax Benefits
Denver Montclair International School is a 501(c)3 nonprofit organization and independent school that fulfills the highest education standards of the United States. All gifts to DMIS are fully tax-deductible.
Some gifts may allow you to take a special Colorado state tax credit. With that tax credit, a $1,000 donation may provide you as much as $825 in tax savings for a net cash outlay of only $175 (see the chart below).
Colorado Child Care Contribution Tax Credit
|
25% Bracket |
28% Bracket |
33% Bracket |
35% Bracket |
|
| Level of Donation |
$1,000.00 |
$2,500.00 |
$5,000.00 |
$10,000.00 |
| Federal Tax savings |
$250.00 |
$700.00 |
$1,650.00 |
$3,500.00 |
| Colorado State Savings |
$45.00 |
$112.50 |
$225.00 |
$450.00 |
| Colorado Credit |
$500.00 |
$1,250.00 |
$2,500.00 |
$5,000.00 |
| Total “out-of-pocket” cost |
$205.00 |
$437.50 |
$625.00 |
$1,050.00 |
For more information, you also can visit the Colorado Income Tax Website .
Please note: This information is not intended to be used as tax advice. DMIS, DMIS PTA and DMIS Board of Trustees are not responsible for tax deduction claims. Please consult your tax advisor for more information.
