The new federal tax law has changed its regulations on credits for Alabama scholarship fund donations and you can learn about the updates during morning and afternoon webinars this Wednesday.
Ely is a tax attorney and partner with Bradley and also serves as a counsel to AOSF. Stalcup, a CPA and founding member of Wilkins Miller, LLC, also will be on the call. Stalcup serves on the AOSF board of directors.
The webinars will be from 10 a.m. to 10:30 a.m. and 2 p.m. to 2:30 p.m. on Wednesday, Feb. 7.
RSVP and specify your preferred time by emailing Bri Jackson at firstname.lastname@example.org. Upon responding, you will be sent call-in information.
Ely and Stalcup will be discussing the new federal tax law, its implications for individuals who pay Alabama income tax, how it relates to Alabama Accountability Act tax credits, as well as the benefits of tax credits versus charitable deductions, the impact to Alternative Minimum Tax taxpayers, and ultimately, how donating to AOSF can save taxpayers money.
They will be available during and following the presentation to answer questions. Ely recently published an article about the new law in the Birmingham Business Journal, “Alabamians get another reason to fund tax credit scholarships.”
The AOSF empowers families to choose the school that best fits their child’s unique educational needs. AOSF is a 501(c)3 non-profit organization that provides scholarships to low-income, K-12 children who are not succeeding in their current environment.
Scholarships are funded by the donations of corporate and individual Alabama income tax liability for a dollar-for-dollar tax credit. AOSF currently funds nearly 2,000 students in more than 30 Alabama counties.