Give and get back
|2020 Contribution limits for Arizona credits|
|Qualifying Charities||$400||$800||Apr. 15|
|Foster Care||$500||$1,000||Apr. 15|
|Public Schools||$200||$400||Apr. 15|
|Private Schools (STO)||$1,173||$2,365||Apr. 15|
|Military Families||$200||$400||Dec. 31|
Arizona offers five kinds of "dollar-for-dollar" charitable donation credits, so here's a great way to do some good for the community and for yourself at the same time.
You get a dollar off your state tax for each dollar you donate, up to the program limit. Under new federal rules, however, those donations generally no longer count as charitable contributions on your federal return.
Feeling generous? You can donate for more than one of the tax credits. In fact, you can give for all four tax credits, if your tax situation allows.
Contributions that are within the limits but more than your tax carry over to future years.
It's not often you can end up on the winning end of a tax law, and four of the credits allow donations up to Apr. 15. Do yourself a favor and tell the state legislature how to spend some of its budget by checking out these Arizona tax credits.
You may donate conveniently online to charitable organizations and for private schools at AzTaxCreditFunds.com or The Arizona Tax Credit Site. For just Tucson organizations, visit TucsonTaxCreditFunds.com