Friends,
Continuing with the theme from last week of education, we thought sharing an article about the positives of the Georgia GOAL Scholarship Program would be of great benefit. Since 2008, state residents have been able to provide families in our state with access to better educational opportunities for their children. Tax credits are being rewarded to donors via the Education Expense Credit law. The program aims to increase access to high quality educational opportunities for Georgia’s youth from kindergarten up to 12th grade. Additionally, to secure your 2025 GOAL tax credit, you must submit your application before the end of 2024. GOAL will handle all remaining steps in the process until your contribution is due in mid-March 2025.
Four important items about the Georgia Scholarship Program include:
All Georgia taxpayers are eligible to receive a 100% state income tax credit in exchange for their contributions to Georgia GOAL.
The married filing jointly tax credit can be up to $5,000, an individual pass-through owner has a $25,000 limit, and C corps, trusts, or an electing pass-through have a tax credit limit of 75% of annual tax liability.
You may designate where (which participating institution) your GOAL contribution will be used to provide K-12 scholarships to eligible students.
GOAL has awarded 7,963 scholarships in north Georgia, 31,185 scholarships in metro Atlanta, 16,209 scholarships in middle Georgia, and 17,257 scholarships in south Georgia.
Our local clients may be interested as you can designate the specific private school to receive your contribution. Schools close to our office such as Wesleyan, Cornerstone, Mount Pisgah and Perimeter School all participate in this program.
Let us know if you are interested in discussing the GA GOAL Program.
Matt and Andrew