Charities hoping for windfall from Arizona Tax Credit - Tucson News Now

Charities hoping for windfall from Arizona Tax Credit

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TUCSON, AZ (KOLD) - Most Arizona taxpayers probably know about tax credits for schools, but did you know you also can get credit for giving to your favorite charity?

There's a whole bunch of southern Arizona charities Arizona taxpayers can help while getting a tax credit at the same time.

But you have to hurry to get in on the deal.  You have to donate to a charity before the end of the year.

The Boys & Girls Clubs of Tucson is just one of many charities that we can donate to, then  claim that money as a tax credit.

But, you know, it's not just the club, but the kids.

"I get to be with my friends and I get to meet new people," says seven-year-old Alex Vargas who really enjoys the computer lab at his club.

 Danya Duron, 9, knows where she would be without the Boys & Girls Clubs.

"If I didn't come to this place, I would just stay at home and I would be bored," she says. 

It's thanks to donations that the clubs can operate all their programs, provide role models, and a safe place for children.

You might already be donating to the Boys & Girls Clubs, or another charity.

Are you taking the tax credit?

It's available.

"The state of Arizona offer a credit for supporting charities that help the working poor," says Tucson CPA Joseph Rose, owner of Desert Rose Tax & Accounting.

He's behind these tax credits 100%.

"You can take it as a credit to offset dollar per dollar, your tax liability on your Arizona tax form," Rose explains.

All the information, plus, the Arizona tax form you need, is online.

Take a credit of up to $400 for a married couple, and $200 per individual.

"So, if all you can afford is $25, give $25, but it's a fantastic way to support your local and southern Arizona charities," Rose says.

Rose calls it a win-win for another reason too.

You can deduct your donation on your federal tax form.

Plus, you still can donate to your local public or private school, and claim each tax credit.

You don't have to choose.

"If they give $500 to the private school tuition organizations, 200 to the public school and 200 to the charity that helps the working poor, then that can literally reduce your state tax liability $900," Rose explains. 

It's $1,800 for a married couple, filing jointly. 

That really comes in handy as charities struggle in times like these.

Just ask Lorraine Morgan of the Boys & Girls Clubs of Tucson.

"It's really important. Opportunities for funding through grants and corporate contributions and even individuals that are hard-hit by the economy are dwindling," she says. "We wouldn't survive without our donors."

That fact is not lost on anyone.

Boys & Girls Club member Danya says, "I feel thankful for the people that donate things."

You can even get the Arizona tax form online.

It's simple to fill out.

But remember, you have to make your donation before the end of the year.

More Arizona tax credit information.

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