With the holiday season upon us, the last thing on your mind is Tax Day, right? The bearded man you’re likely thinking of is Santa – not Uncle Sam! But the end of the year brings the most important gifts – including one for you on April 15th.
The State of Oregon is gifting you a TAX CREDIT but you must use it before the clock strikes midnight on New Year’s Eve. In turn, consider a gift to the Oregon Optometric Public Affairs Council (OOPAC).
Oregon income tax credits are available to those who have contributed up to $50 (individual) and $100 (couple) to political action committees in Oregon such as OOPAC. That means that as an individual, you can spend up to $50 of free money for a political action committee (PAC) of your choice. This credit is only available to individuals with adjusted gross income of $100,000 or less and for joint filers $200,000 or less.
Contributions to OOPAC go to support the work you do – and the work you’re going to do – as the primary eye care provider in Oregon by navigating legislation that directly impacts you. So, if you file jointly, make a contribution to a PAC of $100, and owe Oregon income taxes of $1,000; you’re actual tax obligation will be $900. It also means that if you file jointly, make a contribution of $100, and already have an Oregon income tax refund of $1,000; you will now receive a net refund of $1,100. It’s one of the best reimbursements you’ll ever file for!