Wednesday, November 2, 2011

2011 = Final year for Michigan charitable tax credits


Beginning in 2012, the Michigan tax code will include elimination of charitable tax credits.  In order to take advantage of the tax credits before it's too late, Michigan residents (and businesses) have until the end of the year to make a contribution.  Currently, the Michigan Income Tax or Michigan Business Tax codes allow for up to a 50 percent return on that investment.  Gifts and sponsorships to public radio, colleges and universities, libraries and museums, homeless shelters and food banks also will be ineligible for state tax credits after Dec. 31.

For the full article, click here.

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