School donations help area, taxpayers alike

When you go to the grocery store with a coupon for $1 off a product, the $1 is deducted at the checkout from the total price. This is the way the Idaho State Tax Rebate works when you give to an accredited educational entity.

If you pay income taxes to the state of Idaho, a couple can give as much as $400 to the school of their choice and when you figure the tax you owe to the state before April 15, you can deduct $200 from the amount due plus use the donation if you itemize on state and federal returns. Depending on your income, this credit can cost you as little a $40. You don’t find deals this good in many places.

A single person can donate $200 for a $100 rebate and a corporation can donate $2,000 and receive a rebate of $1,000.

I have never understood why our school board and school administration have not encouraged you to do this. If enough of us did this, it would keep huge amounts of money in Bonner County which we would not send to Boise.

You must make this school rebate contribution by Dec. 31, 2010.

Questions: If you do your own taxes, watch for the credit on the Idaho state form line 25, on Form 40 or ask an accountant.

POLLY and HENRY MIRE

Sagle