By: Laura Walton AFC®
‘Tis the season for charitable giving and, with tax filing just around the corner, you may be able to re-direct tax dollars owed to the State of Arizona to a charity or school of your choice. Arizona offers a dollar-for-dollar credit for certain programs:
The Arizona school tax credits:
- Credit of up to $546 for 2017 ($1,092 for married taxpayers filing a joint income tax return) for contributions to a school tuition organization that provides scholarships or grants to students attending private schools.
- Credit of up to $543 for 2017 ($1,085 for married taxpayers filing a joint income tax return) for Private Learning Uplifting Students (PLUS) contributions to a school tuition organization that provides scholarships or grants to certain qualifying students attending private schools. To qualify for this additional tax credit, the Arizona taxpayer must first donate the maximum to the original school tuition organization tax credit.
- Credit of up to $200 for 2017 ($400 for married taxpayers filing a joint income tax return) for payment of fees to an Arizona public school for extracurricular activities, a character education program, standardized testing fees for college credit or readiness, preparation courses and materials for standardized testing and the career and technical education industry certification assessment.
Charitable contribution tax credit:
- A credit of up to $400 for 2017 ($800 for married taxpayers filing a joint income tax return) is also allowed for certain cash contributions to qualified charities.
Foster Care contribution tax credit:
- A credit of up to $500 for 2017 ($1,000 for married taxpayers filing a joint income tax return) is also allowed for certain cash contributions qualified foster care organizations.
Arizona Military Family Relief Fund:
- A credit of up to $200 for 2017 ($400 for married taxpayers filing a joint income tax return) is also allowed for certain cash contributions to the Arizona Military Family Relief Fund.
For complete information, deadlines and lists of eligible organizations, visit the Arizona Department of Revenue’s website or consult your tax advisor.