If someone told you that you could give your Georgia State Income Tax money to St. Jude School rather than to the State of Georgia, would you do it?
That is exactly what the GRACE Scholars program does!
The GRACE (Georgia Residents Assisting Children’s Education) Scholars program offers families the opportunity to access a faith-based, academically strong, and community-based Catholic education in the state of Georgia. GRACE Scholars Inc. provides children from families with financial need in grades K-12 with tuition assistance to be used at approved Catholic schools. St. Jude is one of those schools. Your donations not only assist children in receiving a Catholic education; but you also obtain a state income tax credit for your support! Tax payers in the state of Georgia receive a credit against their Georgia income tax liability in an amount equal to the actual amount contributed up to $1,000 per tax year for an individual or $2,500 for a couple filing a joint return.
How much can I donate?
· A single taxpayer can “redirect” up to $1,000 per year.
· A married couple filing jointly can “redirect” up to $2,500.
· A married couple filing jointly, that pays AMT (alternative minimum tax) can “redirect” up to $ 2,500 and save $725 (due to a tax savings of $3,225 for both federal and state).
· A “C’ Corporation can “redirect” up to 75% of their total Georgia state tax liability.
· Partnerships, LLCs, and Sub-S corporations are subject to the owners’ individual limits.
How do I do this?
Go to the GRACE Scholars website and fill out the necessary forms. When filling out the forms, the Taxpayer ID is 26-3237980. Here are some lingks to help redirect your taxes to GRACE Scholars:
The contribution process is easy.
Get approved for a tax credit online.
Learn how to give shares of stock or mutual funds.
Check out the awesome tax advantages for ‘C’ corporations, LLCs taxed as corporation, taxable trusts and fiduciary accounts.
See if your company matches gifts.
Get tax filing guidance.
Remember to mark St. Jude the Apostle Catholic School as your recipient!
For more information, please call St. Jude the Apostle School at 770-394-2880 and ask for Patty Childs, Principal at ext. 422.