26

Dec

2019

2019 Arizona Tax Credits

2019 Arizona Tax Credits

As you may know, there are a variety of different Arizona tax credits you may take advantage of. Listed below are some of the most common credits.

Contributions to Qualifying Charitable Organizations

An individual who makes a cash donation to a qualifying charitable organization can receive a tax credit of up to $400 for single, head of household and married filing separately taxpayers or $800 for married filing jointly taxpayers. You have until April 15, 2020 to make cash contributions that can be claimed as a credit on your 2019 tax return. For complete list of qualifying charitable organizations, please visit https://azdor.gov/sites/default/files/CREDITS_2019_qco.pdf

Contributions to Qualifying Foster Care Charitable Organizations

An individual who makes a cash donation to a qualifying foster care charitable organization can receive a tax credit of up to $500 for single, head of household and married filing separately taxpayers or $1,000 for married filing jointly taxpayers. You have until April 15, 2020 to make cash contributions that can be claimed as a credit on your 2019 tax return. For complete list of qualifying charitable organizations, please visit

https://azdor.gov/sites/default/files/CREDITS_2019_qfco.pdf

School Tax Credits for Individuals

An individual can claim up to three school tax credits per year: one for contributions to public schools and two for contributions to private school tuition organizations. You have until April 15, 2020 to make cash contributions that can be claimed as a credit on your 2019 tax return. A credit of up to the following amounts is available for 2019:

  • Public School Credit: up to $200 for single, head of household and married filing separately taxpayers or $400 for married filing jointly taxpayers.
  • Private School Tuition Credit: up to $569 for single, head of household and married filing separately taxpayers or $1,138 for married filing jointly taxpayers.
  • Certified School Tuition Organization Credit: up to $566 for single, head of household and married filing separately taxpayers or $1,131 for married filing jointly taxpayers.

For more information and a list of schools and school tuition organizations, please visit

https://azdor.gov/sites/default/files/REPORTS_2019_sto-i-list.pdf

Credit for Donations to the Military Family Relief Fund

An individual who makes a cash donation to the Military Family Relief Fund can receive an Arizona tax credit of up to $200 for single, head of household and married filing separately taxpayers or $400 for married filing jointly taxpayers. Total donations qualifying for the credit are capped at $1 million each year. To find out if the cap has been reached, visit https://dvs.az.gov/mfrf. Note: as of September 23, 2019, the yearly cap for online donations was reached and only a short donation window remains open for mailed-in-checks. The credit will be available again in 2020.

If you have any questions, please contact our office and one of our staff will be happy to assist you.

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