The 2023 Arizona Tax Credit programs for individuals allow you to make a positive charitable impact while receiving a credit that reduces your Arizona income tax liability dollar for dollar. Many people like the tax credit because it allows them to keep their tax dollars in the local community. 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 $421 for single, head of household, and married filing separately taxpayers or $841 for married filing jointly taxpayers. You have until April 15, 2024, to make contributions that can be claimed as a credit on your 2023 tax return. Click here for a list of qualifying charitable organizations.
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 $526 for single, head of household, and married filing separately taxpayers or $1,051 for married filing jointly taxpayers. You have until April 15, 2024, to make contributions that can be claimed as a credit on your 2023 tax return. Click here for a list of qualifying foster care organizations.
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, 2024 to make cash contributions that can be claimed as a credit on your 2023, tax return. A credit of up to the following amounts is available for 2023:
- 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 $655 for single, head of household and married filing separately taxpayers or $1,308 for married filing jointly taxpayers.
- Certified School Tuition Organization Credit: up to $652 for single, head of household and married filing separately taxpayers or $1,301 for married filing jointly taxpayers.
Click here for a list of qualifying public schools and qualifying school tuition organizations.
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. You have until December 31, 2023 to make contributions that can be claimed as a credit on your 2023 tax return. Total donations qualifying for the credit are capped at $1 million each year. To find out if the cap has been reached, visit the Military Family Relief Fund website.
If you have any questions, please contact your R&A advisor who will be happy to assist you.
NOTE: Jessica is not on the Our Team page; please add this info at the end of the article for her
Jessica Nutbrown is a Supervisor in R&A’s Client Accounting Services division. She helps small and medium-sized businesses with a multitude of accounting needs and services.
About this Author
Deborah has been preparing tax returns for individuals and entities for 24 years. She has been a CPA for 14 years. She is currently a Supervisor in R&A’s tax division
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