Year-End Tax Planning

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Prairie River Library District wants you to know about an expanded Idaho Income Tax Credit!

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Now you can get a Tax Credit on your individual Idaho tax return, even if you do not itemize deductions, of 50% of your donation to a qualified educational organization up to a maximum of $1,000 on a joint return (or $500 on a single return) but not to exceed 50% of your income tax liability.

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Prairie River Library District is a qualifying organization for your donation to be eligible for the tax credit.

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For example, a $2,000 donation to Prairie River Library District by a married couple would qualify for a $1,000 tax credit on a joint return, actually only costing you $1,000 or less, if you itemize deductions. But the Foundation would benefit from the $2,000 donation. Likewise, a $500 donation would qualify for a $250 tax credit. The credit may not exceed 50% of your income tax liability.

For a corporation, the tax credit is 50% of the contribution up to a maximum of $5,000 or 10% of the corporation tax liability, whichever is less.

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If you would like to support the Prairie River Library District and receive the benefit of an Idaho tax credit, donations can be mailed to: Prairie River Library District, P.O. Box 1200 Lapwai, ID 83540

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Prairie River Library District does not provide tax, legal or accounting advice.  The statements made above are for information purposes only and is not intended to, and should not be relied on for tax, legal or accounting advice.  You should consult your own tax, legal, and accounting advisors to address your specific situation