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:
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A married couple filing a joint return can redirect up to $2,500 of their income tax payments to GA DOR through GASSO.
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A married couple filing a separate return can redirect up to $1,250 (each) of their income tax payments to GA DOR through GASSO
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A single individual can redirect up to $1,000 of his or her income tax payments to GA DOR through GASSO.
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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.
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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
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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.
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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.
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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.
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the SSO will award the amount paid by minus processing fee to Al-Furqan Academy as scholarship.
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GASSO will provide taxpayer a Tax Receipt.
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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.