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Idaho has a unique tax credit opportunity specifically for contributions to schools. Gifts to Sacred Heart Catholic School qualify for a 50% tax credit (a reduction in the actual tax you owe). If you itemize your taxes, a donation to Sacred Heart allows income tax deductions on your state and federal returns, plus a 50% Idaho income tax credit for up to $500 for individuals and $1000 for couples filing jointly.

  • Idaho Married Couples filing jointly may take up to 50 percent of a $2,000 gift (a tax credit of $1,000)
  • Idaho Individuals may take up to 50 percent of a $1,000 gift (a tax credit of $500)
  • Idaho Corporations may take up to 50 percent of a $10,000 gift (a tax credit of $5,000)

To maximize the impact of the Idaho education tax credit, consider a multi-year pledge. A gift of $10,000, given in increments of $2,000 per year over five years, would be an actual cost of only $1,720 during this entire five-year period.

Donation to SHSFederal DeductionState DeductionIdaho CreditNet Tax BenefitNet Cost of Donation
$2000$240$138.50$1,000$1,378.50$621.50
$1,000$120$69.25$500$689.25$310.25
$500$60$34.63$250$344.63$155.37
$350$42$24.24$175$241.24$108.76
$250$30$17.31$125$172.31$77.69
$125$15$8.66$63$86.66$38.34