The Race is on for 2014 GOAL Tax Credits!
You can make an incredible difference
Become part of an influential group of Georgia taxpayers that understands the incredible value of Georgia’s education tax credit program. With growing numbers and increasing urgency each year, Georgians are claiming the available education tax credits to make a difference in our community. This year, all of the 2013 tax credits were claimed by early May!
We hope that you will “getin line” early for your 2014 tax credit in order to continue to ensure that our school community may benefit from this program.
The $58 Million Education Tax Credits for 2014 will go fast
Nearly $1 million of tax credit applications are already pending for 2014. The reality is that the entire amount will likely be gone before next summer. Your willingness to make your contribution early is essentialfor your tax dollars to make a differencefor the school and community you believe in.
We are good stewards of your tax dollars
Last year, Westwood parents, grandparents, faculty, friends, and alumni contributed over $105,000
to GOAL . Thanksto this generoussupport, we were able to offer GOAL Scholarships to 63 deserving families. Westwood School is working hard to provide a premier education and make it affordablefor many years to come,but we need your help.
The simplest ways to contribute are:
To apply online go to:
To mail your application in (all forms available in the Westwood office or on GOAL website):
1. Sign page 2 of the Georgia Form IT-QEE-TP1.
2. Complete and sign the GOAL Tax Credit Form. We will complete your Form IT-QEE-TP1 from the information on the Tax Credit Form.
3. Return all forms to either:
Paige Johnson or GA GOAL Scholarship Program
Westwood School Five Concourse Parkway, Ste. 200
PO Box 528 Atlanta, GA 30328
Camilla, GA 31730
Georgia Education ExpenseTax Credit
Through the Georgia EducationExpense Tax Credit, the state has created an incredible opportunity for taxpayers to redirect a portion of their stateincome tax liability to improve pre-k through 12th grade educational opportunities in Georgia. Individual and corporate taxpayers are eligible to receive a Georgia incometax credit (not a mere tax deduction)for contributions made to the Georgia GOAL Scholarship Program.The amounts contributed are used to provide scholarships to students to enroll in accredited private schools.
Georgia GOAL Scholarship Program
GOAL is a qualified Student Scholarship Organization (SSO) that places the highest priority on operating in an effective, efficient, and ethical manner.
§ EFFECTIVE:GOAL is Georgia’s leadingstudent scholarship organization, providing scholarships to closeto 6,000 Georgia students. To date, withthe help of its 121 participating schools, GOAL has raised$54 million from over 23,000 individual and 250 corporation contributions
§ EFFICIENT: Under Georgia law, GOAL is required to obligate at least 90% of itsannual revenues forthe provision of scholarships. Instead,GOAL has obligated a total of 94% of its revenuesfor scholarships sinceits inception in 2008.
§ ETHICAL: GOAL is a 501(c)(3) non-profit organization, operating in a transparent and accountable manner, with an independent Boardof Directors of eleven members
Tax Credit LimitsBased on FilingStatus
§ Single individual or head of household – $1,000
§ Married couplefiling a jointreturn – $2,500
§ Married couplefiling a separatereturn – $1,250
§ C corporation or Trust – 75% of annualGeorgia income tax liability
§ S corporation shareholder, LLC member, or partnership partner– pro-rata ownership share of the pass-through entity’s contribution, not to exceedlimitations on individuals and married couples
Information on Receiving the State Income Tax Credit
§ There is a cap of $58 million of available education expense tax creditsfor 2014
§ To contribute for a taxcredit:
– Taxpayer completes and signs Form IT-QEE-TP1,available in the Westwood office or on GOAL website
– Taxpayer sends Form and contribution check (or creditcard info) to GOAL
– GOAL sendstaxpayer’s paperwork to Georgia Department of Revenue for approval
– GOAL processes contribution once approvalis received and sends taxpayerrequired paperwork to claim the credit
Contributions to GOAL are also deductible for federal income tax purposes
For more information, see www.goalscholarship.org or contact
Lisa Kelly, President, at 770-828-4031 or [email protected]