Confused about the Arizona Tax Credits?
The State of Arizona doesn’t make it clear and easy. It took a while for us to understand it also!
Here are the details:
The Arizona Foster Care Tax Credit allows you to give up to $587 per individual or $1,173 per couple filing jointly each year to a Qualifying Foster Care Organization (QFCO) and receive a dollar-for-dollar credit on your state tax obligation.
Reference Mesa United Way’s Umbrella QFCO Code 17326 on your tax return to receive your Foster Care Tax Credit. Retain a copy of your electronic donation receipt to prove your contribution and consult your tax professional with additional questions.
Additionally, the Arizona Charitable Tax Credit allows you to give up to $470 per individual or $983 per couple filing jointly each year to a Qualifying Charitable Organization (QCO) and receive a dollar-for-dollar tax credit on your state tax obligation.
Reference Mesa United Way’s Umbrella QCO Code 20726 on your tax return to receive your Charitable Tax Credit. Retain a copy of your electronic donation receipt to prove your contribution and consult your tax professional with any additional question.
Here is the Kicker:
You are allow to STACK the tax credits and take advantage of more than one credit: The Foster Care Tax Credit, Qualified Charity Tax Credit, The Private/Public School Tax Credits, etc.
Through Mesa United Way, you can contribute up to $1,057 as an individual or $2,156 as a couple if you STACK both of the tax crdits.
Use the widget to the right to securely give:
More of a visual learner?
This video provides a good explanation of the Arizona Tax Credits: