Arizona has made some exciting changes to its various tax credits for the 2016 tax year! We hope that you will take advantage of them to help the qualifying organizations and so that you can be in control of where your tax dollars are being spent!

Contributions to Qualifying Charitable Organizations

The charitable organizations contribution credit has increased from $200 to $400 for individuals and from $400 to $800 for married taxpayers.

Contributions to Qualifying Foster Care Organizations

The credit for contributions made to charitable foster care organizations has also increased to $500 if you are single and $1,000 if you are married filing jointly.

School Tax Credits

Don’t forget about the School Tax Credits! Taxpayers can receive a tax credit for donations or fees paid to public schools in the amount of $200 for individuals and $400 if married.

Last but not least, you may also receive a tax credit for contributions to private school tuition organizations. The combined limit of this credit is $1,087 for single taxpayers and $2,173 for married taxpayers.
In Summary (click name for link to relevant AZDOR webpages):

Individual Filers Married / Joint Filers
Charitable Tax Credit $400 $800
Foster Care Tax Credit $500 $1,000
Public School Tax Credit $200 $400
Private School Tax Credit $1,087 $2,173

You now have until April 15th of the following year to make your donations for all of the above credits! Donate to help our schools, our kids, and other worthy organizations!

Visit AZ Department of Revenue for more information on these credits and more!

Contact Holdsworth Chadd Fuller CPAs, your Prescott accountants! We offer accounting and tax services and can help you.