Tax Credits

Tax Credits

Donations to Synergy Services are fully tax-deductible. Synergy Services has the Missouri Maternity Home and Domestic Violence Center Tax Credit Program available.Contributions of $100.00 or moredonated during 2022/2023 are eligible for this program.In addition to all standard deductions for charitable giving, you may be able to reduce your total income tax burden to the state of Missouri.

As of July 1, 2022 the amount of credit a donor receives tax is seventy cents per dollar of the contribution.The amount the taxpayer can claim shall not exceed the amount of the taxpayer's Missouri State Tax Liability and is limited to $50,000 per taxable year. Contact your tax advisor regarding how charitable deductions and tax credits may benefit you.

Synergy Services is grateful for your contribution.We are glad to be able to offer the tax credits, which are a “win-win” situation for both of us.We realize that we succeed with the high level of services to our clients due in part to community support.Thank you for being part of that support.

What is a tax credit?

A tax credit is a sum subtracted from the total amount a taxpayer owes to the state. For example, when you donate $1,000 to Synergy and request a tax credit, $700 will be deducted from your MO tax liability, like cash.

Unlike deductions and exemptions that reduce taxable income, credits directly reduce taxes owed. The value of the credits is subtracted from the total amount of owed taxes.

Who is eligible?

Any individual or business who pays taxes in Missouri.

What is the minimum gift amount?

The state requires a minimum donation of $100 or more to obtain tax credits.

What if I don’t itemize my deductions?

You don’t have to itemize your deductions to use a Missouri tax credit. If your state taxes were withheld, you may qualify for a refund after submitting the tax credits.

What can this tax credit be applied to?

Income, Corporate Franchise Tax, Bank Tax, Insurance Premium Tax.

For more information, contact Teri Laverty at tlaverty@synergyservices.org. Contact your tax advisor regarding charitable deductions and how tax credits may benefit you.