Arizona has a number of tax credits available for Arizona residents, including dollar for dollar credits. For example, if you contribute $200 to a charity that qualifies under the Working Poor Tax Credit, you may qualify to receive a $200 tax credit (See Arizona Form 321). Some 2017 tax credits are even available for contributions made during January 1, 2018 through April 16, 2018, such as contribution to Private School Tuition Organizations.
As a married individual, I receive almost $2,300 in dollar for dollar tax credits and I’m able to make donations to charities I love to support. I strongly support the YWCA’s financial literacy program for woman, and I donate to the YWCA each year. As a mom, I also support education and make an annual donation to my child’s public school and to the private school tuition program for my church. The Arizona Department of Revenue maintains a list of charities that qualify for the various state credits. I highly recommend researching these credits if you are looking to reduce your tax exposure. Remember the contributions may also qualify as a charitable donation on your federal tax return.
A list of Arizona tax credits is available on the Arizona Department of Revenue’s website: www.azdor.gov/Forms/Credits.aspx.
Laura M. Trujillo
Disclaimer: This blog is for information purposes only. Legal advice is provided only through a formal, written attorney/client agreement.