Tax Deductions That Benefit Your Kids

How to maximize your tax returns, benefit your child’s classroom, and improve your local school.

Unlike other countries, the American tax code gives generous tax deductions to encourage people to give to nonprofits. The tax deductions allow taxpayers to direct their money to causes they care about, instead of all your taxes going to the government. By making a donation to your local school, you can make a direct contribution to your community and it’s a chance for you to have a voice on issues that matter to you. You can vote with your money, not just with the ballot.

In addition, many companies have a corporate social responsibility program that offers to match their employee’s donation dollar to dollar, up to a certain amount. All you have to do is submit the paperwork (the school will offer you a thank you letter as receipt) to your employer after you have made the donation.

Who wins:

You – You get a nice tax deduction for the tax year

Your child – You can specify the donation to go to your child’ classroom, which helps to benefit your child directly

Your classroom teacher – Did you know that the average K-12 teacher spends $600 or more a year out of their own pockets on school supplies alone? Your help would be much appreciated and make you a valued partner in your child’s classroom.

Your school – If you use the corporate matching gift program, the school also will get the matching dollars of your donation. The school can use this money to help improve health, safety, and student programs for the school community.

Your employer – The tax benefit of an employee matching gift program is a tax deduction on the company’s earned annual income.

Here is a quick chart showing you the difference between donating to the school directly and donating to the school PTA:

DonationTo SchoolTo PTA
Tax DeductibleYesYes
Can specify for particular classroomYesNo
Can specify for particular projectYesNo
Contributes toward advocacy on behalf of children and familiesYesYes
Contributes toward community building events like Spring Festival and Movie NightsYesYes

PTAs frequently provides funds to school administration for such basics as books, computer equipment, not to mention extras such as playground equipment and water fountains. However, the main goal of the PTA is to improve the relationship between the students and its families with the school, and PTA budgets can only be ratified and approved by PTA members.

You can have a real impact on the lives of people in your communities. Speak up and vote with your tax dollars. Maximize your tax deduction and community impact by making a donation to Oliveira or PTA and use corporate charitable matching programs if your employer has one.

For more information on how to donate to Oliveira PTA, please see our donation page.