Tax Deduction Information
Gifts to WKAR are tax deductible to the extent allowed by law. Until December 31, 2011 gifts to public broadcasting are eligible for a State of Michigan Tax Credit. The credit expires on December 31, 2011.
The State of Michigan Tax Credit allows 50% of the net value of your gift (maximum amounts apply and vary according to your personal tax situation) to be returned to you.
Meanwhile, WKAR is able to use your entire donation for the acquisition and broadcast of the programming you have come to admire, respect and support.
Thank-You Gifts and Your Tax-Deductible Contribution
IRS guidelines require that the value of any goods/services received in connection with your gift must be deducted from the gross amount of your contribution to determine the amount eligible for tax advantages and employer matching gift programs.
Every thank-you gift has a "fair-market value." That gift value will be deducted from the gross amount of your contribution when deterimining the tax-deductible portion of your contribution.
The tax receipt you receive from MSU University Development will detail your contribution, the fair market value of your selected gift, and the resulting deductible amount.
If you wish your entire contribution to WKAR to be tax-deductible, be sure to indicate at the time of your contribution that you do not wish to receive a thank you gift.
Charitable gift tax advantages vary by individual
We suggest you check with your tax advisor to maximize the value of your support of WKAR.