Support Al-Furqan Academy with your 2020 Georgia Tax Dollars

it just takes a few minutes to submit and very little effort from you.

For more details call us at (678) 723-9461

 

Each calendar year, until the annual cap on available education expense credits is reached:

  • A married couple filing a joint return can redirect up to $2,500 of their income tax payments to GA DOR through GASSO.

  • A married couple filing a separate return can redirect up to $1,250 (each) of their income tax payments to GA DOR through GASSO

  • A single individual can redirect up to $1,000 of his or her income tax payments to GA DOR through GASSO.

  • An individual who is a member of a limited liability company, shareholder of an "S" Corporation, or partner in a partnership (pass-through entities) is allowed a Georgia income tax credit for up to $10,000 of the amount they contribute to a SSO (GASSO), so long as they would have paid Georgia income tax in that amount on their share of taxable income from the pass-through entity. 

  • Corporations can receive a tax credit for amounts contributed to the SSO Scholarship Program and many corporations have done so. For "C" corporations, the tax credit is available up to 75% of their annual Georgia income tax liability. 

 

Steps:

The taxpayer will submit his or her 2020 tax credit application using georgiasso.us/pledge-form/ . Then, SSO (GASSO) will take care of every remaining step, and will remind the taxpayer when action is required. Each step in the process is outlined below

  1. The SSO submits Taxpayer Application to DOR: On the first business day of January 2020,  They will submit the taxpayer's request for a 2020 tax credit to the DOR, a confirmation email will be sent to the donor.

  2. DOR Informs Taxpayer of Approval: Taxpayer will receive a DOR Approval Letter within 30 days after the request is submitted, indicating the amount for which he or she is approved and the deadline for making payment to the SSO.

  3. Taxpayer Makes Payment to the SSO (GASSO): When notified of DOR approval (by DOR Approval Letter or email from the SSO), taxpayer must submit payment to GASSO before his or her 60-day payment deadline.

  4. the SSO will award the amount paid  by minus processing fee to Al-Furqan Academy as scholarship.

  5. GASSO will provide taxpayer a Tax Receipt.

  6. Taxpayer Claims Georgia Income Tax Credit: When taxpayer files their 2020 taxes, he or she will take a Georgia tax credit and (if taxpayer itemizes) a federal tax deduction.