If you’re contemplating making a donation to a charitable organization before the end of the calendar year, consider showing your support for Arizona’s schools by taking advantage of dollar-for-dollar state tax credits.
Chances are, there are teachers and students in classrooms in your community right now who need your support. Cuts to education funding in our state over the last 6 years are among the highest in the nation. As a result, many Arizona school districts continue to face significant budget challenges. For some districts, the lack of financial resources has led to school closings, increased class sizes, programs being cut, and more.
According to the Arizona Republic, your donation can go to providing valuable afterschool programs and fields trips that would otherwise not be possible. “We have the classrooms, we have the space, we have the buses — we just don’t have the extra funds to be able to provide our students with more activities after school,” Marvene Lobato, Fowler Elementary district superintendent, told the Republic.
Tax credits of up to $200 for individuals and $400 for married couples are available to Arizonans who give to educational institutions. These tax credits allow you to take a dollar-for-dollar reduction on your Arizona state taxes. Visit the Arizona Department of Revenue for state tax credit details.
NOTE: Expect More Arizona is not a tax advisor. Please consult your personal tax advisor for state tax credit and tax-deductible charitable contribution details and benefits.
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