Give Yourself Some Tax Credit
It costs you nothing but makes a huge impact on the lives of AZ families
If you owe the state of Arizona, say, $413 in unpaid taxes, you can give a credible nonprofit $400 and pay the state $13. This is because our state allows dollar for dollar tax credits for Qualifying Charitable Organizations. Taxpayers – whether they itemize or not – are given an opportunity in our state to make contributions to nonprofit organizations or schools to provide basic needs for AZ families who are struggling. This is a simple reduction of the amount of taxes owed, dollar-for-dollar. The power to choose where your tax dollars go is given to the taxpayer in this program.
There has been a lot of unnerving discussions going on in nonprofits across our country as of late because the doubling of the standard deduction in 2018 means that many less Americans will itemize. Without itemizing at a federal level, a majority of donations simply won’t be made. The AJ Food Bank relies very heavily on individual donors. We are urging our regional taxpayers to take one minute to make a donation to us and deduct it off the bottom line of state returns. No itemizing necessary.
The state has supported nonprofits in this way to keep them from becoming a liability and asking for money from legislators down the road. There are hundreds of schools and nonprofits from which to choose on the state’s websites. We are listed as the Apache Junction Reach Out, Inc dba Apache Junction Food Bank and we count on this income annually.
Arizona residents have until April 15 to make donations to their favorite charities. The maximum credit allowed is $800 for a married couple and $400 for a single person. More information about how easy it is help locally in this way is at www.azdor.gov/tax-credits