Tax Credit Giving
Submit your 2022 GOAL Tax Credit Application today!
Tax credits are a zero cost way of supporting Heritage Academy students, and it keeps your tax dollars local.
Georgia tax payers can receive a dollar-for-dollar tax credit, up to certain limits:
- $1,000 per year for an individual
- $2,500 per year for a couple married or filing jointly
- $10,000 per year (per owner) for owners of a pass-through business (partnership, LLC or S corporation)
- Up to 75% of all state tax liability for an S corporation, LLC, or C corporation filing at the corporate level.
Tax credits are expected to go much more quickly in 2022. Apply and claim your credit today. It takes just 20 seconds! www.goalscholarship.com
Your participation in GOAL enables Heritage Academy to:
- Increase the financial aid that it can offer new students
- Increase school enrollment
- Increase the funds available to improve educational offerings
5 Steps to Take the Tax Credit:
Complete the 2022 GOAL Tax Credit Application today at www.goalscholarship.org (takes just 20 seconds!)
GOAL Submits to DOR
GOAL submits your 2021 application to the Georgia Department of Revenue (DOR) immediately, and your 2022 application on the first business day of January 2022.
Approved to Contribute
GOAL and DOR notify you of approved tax credit amount and payment deadline.
Pay GOAL by check or credit card within 60 days or DOR approval.
Take the Credit
GOAL will send you Form IT-QEE-SSO1 (tax receipt) for claiming the credit on your Georgia income tax return (Note: you will take the credit on the income tax return for the year in which you make the payment).
Business Benefits - Both a Credit AND a Deduction!
Business owners enjoy both the dollar-for-dollar tax credit and ALSO a federal tax deduction, saving tax money.
New Changes for 2022
In 2022, thanks to Georgia bill HB149, businesses who choose to file their taxes at the entity level can enjoy much greater benefits, and contribute to Heritage in a much greater way.
Georgia’s elected officials have just enacted a SALT deduction workaround for pass-through businesses. HB 149 allows your pass-through business to elect to pay state income taxes at the entity level, resulting in significant federal tax savings, as illustrated in this example.
This election also expands the positive impact your business can have through the GOAL program, as your pass-through business can now contribute up to 75% of its annual Georgia income tax liability to GOAL, resulting in a meaningful double-tax benefit of federal tax savings and a Georgia tax credit. See our one-pager entitled Benefit meets Opportunity for further detail.