Tax benefits

Did you know that tax savings can reduce the net cost of your gift to IUPUC?

As an Indiana taxpayer, you cab receive a tax credit of 50 percent on gifts up to $200 if filing a single return and $400 on a joint return.

A charitable deduction on your federal income taxes may be available if you itemize your expenses and deductions on the IRS Form 1040. 

Always consult your tax advisor for individual guidance based on your financial situation. Then talk to us and learn more about how a gift to IUPUC may not cost as much as you might think!

How Does It Work?

How does the tax benefit work? Here is a simple example: If you had an annual income of $40,000, filed an individual tax return, itemized your decuctions, fell into the 25 percent marginal tax bracket, and pledged a $200 gift to IUPUC in February 2011, it would have only cost you $50. Your $200 gift would be subject to a federal tax saving of $50 and, minus the Indiana tax credit of $100, your net cost would be $50 ($200-$50 = $150-$50 = $50 net).