Knowing we can take action and make a difference is important to our sense of well-being.
While talking about the upcoming election with friends, I am surprised how few people know about our Oregon Political Tax Credit.
If your adjusted income is under $100,000 for a single/$200,000 for a couple you can make a $50/single $100/couple, contribution to a candidate, ballot measure or political party and get all of that back as a tax credit when you file.
To put it another way: By donating $50 to a political campaign of your choice, you can reduce your taxes or increase your refund by that same $50 (assuming you pay at least $50 in taxes). That’s right: it’s a full 100% credit, not a deduction. Married, filing jointly? It’s $50 per person – so you and your spouse can donate $100 and get it all back!
You can make a difference – and it won’t cost you a dime.