The Tax Reform Act of 2017 increased the standard deduction to $12,000.00 for individuals and $24,000.00 for couples. This has the potential to reduce the number of smaller donations to non-profit organizations without the incentive of a tax deduction.
In 2019, Arizona Youth Partnership was pleased to join the Arizona Tax Credit Coalition (ATCCC). The ATCCC is a group of non profit organizations that qualify for the Arizona Charitable Tax Credit. The group has a website at GiveLocalKeepLocal.org.
Luckily, in Arizona we have the ability to take tax credits, up to the amount of your Arizona Tax liability!
You can take as many credits as you like, UP to the amount of your tax liability.
Arizona Youth Partnership is based in Marana, Arizona and serves 11 counties in 18 locations throughout the state of Arizona.
About Arizona Tax Credit
Arizona Youth Partnership is a Qualifying Charitable Organization to accept Arizona Tax Credit donations because we are a 501(c)(3) charity that spends at least 50% of its budget on low income residents.
What’s the difference between a tax credit and a tax deduction?
A tax credit reduces your tax liability dollar-for-dollar. You can get back the FULL amount donated! Keep your Arizona state taxes local by directing your Arizona tax dollars to Arizona Youth Partnership! By making a donation to Arizona Youth Partnership as a Qualifying Charitable Organization, you may reduce the amount you owe to the state or you may increase your refund, dollar for dollar. This allows you to support Arizona Youth Partnership programs at no cost to you.
How does this work?
Anyone who pays Arizona state income tax is eligible for the credit and you’re not required to itemize deductions to claim the credit. Your primary residence must be within the state of Arizona. This credit is in addition to the school tax credits. You can make a Charitable Contribution Tax Credit donation AND a School Tax Credit. If you are unsure if you qualify for the tax credit, contact your tax advisor.
The deadline to donate to a Qualifying Charitable Organization, and take advantage of the Arizona Charitable Tax Credit on your state taxes, is April 15th, 2019.
How much can a taxpayer donate?
Couples who file jointly can reduce their state taxes by up to $800; individuals or head of household filers can claim a tax credit of up to $400. Again, this is in addition to the School Tax Credit.
You may donate any amount up to your limit and receive the credit; up to $800 if you are married and filing jointly, or $400 if you are married and filing separately or a single taxpayer or head of household. For example, if you give $100, you will be eligible for a tax credit of $100. If you give $1000, you will be eligible for up to a $800 tax credit (married, filing jointly), as well as a state tax deduction for any amount you donate over the tax credit limit.
Charitable Contribution Tax Credit Donation Documentation
Arizona Youth Partnership will send you an email immediately confirming the amount and date of your donation. This letter documents your contribution and is necessary to support your tax credit. Please make sure you include your name and home address on the donation page.