Thinking of moving to Arizona? Go ahead, make that move! It is time to take that plunge. Give in to the magic of exploring the caverns of the Grand Canyon and trace the winding Colorado River. It is a life-changing decision and one we do not want you to regret in the future. That is […]
As taxpayers, one way or another, we wonder where our taxes go to or if our hard-earned money is, indeed, used correctly. Fortunately, the State of Arizona offers various tax credit programs, one of which is through school donations. A tax credit, also known as a tax incentive, allows individual or corporate taxpayers to subtract […]
Az Tax Deductions and State Income Tax Credits provided to apply against increased excise taxes imposed by county governments to the qualified taxpayers. These credits depend on the taxpayer’s income available for each year. The primary goal of the tax credit is to provide financial assistance in the form of tax relief to disabled and […]
Arizona is one of the country’s best states when it comes to tax credits for donating to charitable institutions. As a taxpayer in Arizona, you have a unique opportunity to direct your tax money to charities you support and believe in. Making a donation upfront will get you back every dollar in the form of […]
Arizona’s School donation tax credit program for private schools has four separate tax credits, two for individuals and two for corporations. These donations are made to qualifying school tuition organizations. An original individual credit is given to students with disabilities who go to preschool and K-12. A Switcher credit made by individuals are scholarships primarily […]
It is unfortunate that several Arizona taxpayers are unaware that they can help students who struggle financially with their education simply by making donations to schools and other non-profit organizations. In doing so, taxpayers also help themselves because they get reductions in their tax liabilities. And this is all because of the Arizona State Charitable […]
Charitable giving is one great way to express one’s compassion and show camaraderie, particularly within a community. The State of Arizona shows their appreciation to citizens who are so inclined to share with their fellowmen that they passed a law on it, the Arizona Qualifying Charitable Tax Law. This law does not merely reward charity-giving […]
Any taxpayer would want their payment for income tax reduced. A tax credit makes this possible since it reduces the amount of income subject to tax; hence, reducing the amount of tax you have to pay, generally. All the taxpayer has to do is understand what a tax credit is, its different types, know which […]
Every year, people pay taxes. These taxes paid by local citizens is what employees from the local and the national government receive as a pay to execute their duties.
According to the U.S. Treasury, charitable organizations that are exempted for a tax deduction, are non-profit organizations that pursue philanthropic and civic activities. With that being said, not all non-profit organizations have tax exemption benefits. They must comply with the requirements demanded by the Internal Revenue Service (IRS). There are a series of preconditions to […]