GA Qualified Education Expense Tax Credit
Take Credit for Helping Kids
Use your Georgia tax dollars to fund scholarships at TFS!
Tallulah Falls School offers a college preparatory education to students for much less than other independent schools thanks to the generosity of our friends, families, alumni… and Georgia taxpayers. You can join other Georgians who help provide need-based financial aid for students at Tallulah Falls School. By redirecting some of your state tax dollars, you help us provide financial assistance to more than 70% of our 460 students who require assistance to fund their education at TFS. Your contributions to this program are vital to our being able to provide that support!
Every Georgia Taxpayer Is Eligible
The tax credit is available to all State of Georgia tax payers, regardless of whether they have children in school. Contributions from businesses are welcome and also qualify for a tax credit.
Tallulah Falls School partners with the Georgia GOAL Scholarship Program to process and administer scholarship contributions.
It’s Your Choice
The amount you donate — up to $1,000 (or $2,500 per married couple filing jointly) — will be the amount you may claim as a state tax credit. For example, if you donate $1000, your state tax credit would be $1000. You may donate less than $1,000 and be eligible to receive the state tax credit in the amount of your donation. You may split your donation between more than one private school, however, you will still qualify for a maximum state tax credit of $1,000 (or $2,500 per married couple).
Know the Difference
This is a tax credit, not a tax deduction. A tax credit is a dollar-for-dollar reduction in the actual tax owed. For example, if you owe $900 in state income taxes and you donate $400 to TFS, you may subtract the $400 from your tax bill and pay the state just $500. A tax deduction only allows you to subtract the amount of a contribution from the amount of your taxable income, which does not benefit you as greatly as a tax credit.
The $58 million state cap for tax credits was exceeded on January 1, 2016, so no additional 2016 tax credits will be allowed. Georgia GOAL will begin accepting tax credit applications for the 2017 tax year on June 1, 2016.
Click on the link below to access the Georgia GOAL application form, which you may complete online:
For additional information or help in filing for your tax credit, please contact:
Tallulah Falls School
P.O. Box 10
Tallulah Falls, Georgia 30573