Atlanta Financial Blog

Save $10,000 on Taxes by Helping Georgia’s Rural Hospitals

Julianne F. Andrews, MBA, CFP®, AIF®
April 3, 2018

When the Tax Cuts and Jobs Act of 2017 took away Georgians’ ability to deduct their paid state income taxes on their 2018 returns, it sent filers scrambling to maximize the deductions that remain. A new deduction which debuted this year offers a maximum tax credit of $10,000 and a chance to help save Georgia’s financially struggling rural hospitals.

Qualification is easy. Married, filing jointly taxpayers who donate up to $11,111 and spend about three minutes to apply for the Rural Hospital Tax Credit online can receive an offsetting tax credit of $10,000.

Since 2010, 83 rural hospitals have closed nation-wide, causing patients in rural America to wait months to see a doctor and travel considerable distances for care. Georgia has been declared “Ground Zero” for the nation’s failing rural hospital system with six acute care facilities closing since 2013 and hundreds more at risk. Georgians’ higher incidences of obesity, diabetes and hypertension, the state’s decision not to expand Medicaid and the high percentage of residents who live at or below the poverty line created the perfect storm of conditions threatening the state’s 49 rural hospital organizations.

To apply for the Rural Hospital Tax Credit, complete the one-page form that can be found on the Georgia Heart Hospital Program website. Make a maximum donation of $11,111 to any of the state’s 49 eligible rural hospital organizations. If you have no preference as to where your donation should go, let the online wizard automatically select a healthcare organization for you.

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What is the SECURE Act and does it matter to me?

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