Charitable Contributions
Making a difference while receiving Arizona tax credits
If you are donating this year, ensure your gift goes to a qualified charity. Log on to CharityNavigator.org to evaluate the charity you are considering to support. You can receive tax credits on your Arizona return when making donations to certain qualified charitable organizations, qualified foster care organizations, public schools, private tuition organizations, Horses with Heart, and the AZ Military Family Relief Fund.
Qualifying Charitable Organizations (QCO) and Qualifying Foster Care Charitable Organizations (QFCO): As of 2016, individuals can receive tax credits for both as they are no longer linked. QCO’s aid Arizona working poor residents who either receive Temporary Assistance of Needy Families benefits, are low income, or are children who have a chronic illness or physical disability. The maximum credit for single or head of the household for QCOs is $400 while QFCO is $500. If you are married filing jointly, the maximum credit for QCOs is $800 while QFCO is $1,000. The tax form required for QCO is AZ Form 321. The tax form required for QFCO is AZ Form 352. For qualifying organizations, CLICK HERE . Contributions made to an eligible QCO and/or QFCO between January 1, 2020 and April 15, 2020 may be claimed as a credit on either your 2019 or 2020 tax return.
Public Schools: Individuals can receive a tax credit for contributions or for paying fees in support of standardized testing, career certification assessment, extracurricular activities or character education programs. The maximum credit allowed is $400 for married filing joint filers and $200 for single, heads of household and married filing separate filers. The tax form required is AZ Form 322.
Private School Tuition Organizations: If you chose to contribute to a private school tuition organization that provides scholarships or grants to qualified schools, the maximum credit allowed is $1,110 for married filing joint filers and $555 for single, heads of household and married filing separate filers. The tax form required is AZ Form 323.
Military: The Arizona Military Family Relief Fund (MFRF), is a fund that provides financial assistance to the families of currently deployed service members and post-9/11 Military and Veteran Families. Unfortunately, the fund is closed for 2019 as donations have already met the $1M maximum. To consider this donation for 2020, CLICK HERE.
Horses with Heart (HwH), is a non-profit 501(c)(3) charitable organization based in Chino Valley, Arizona. They help transform the lives of disabled children and adults — including U.S. military veterans — as they gain confidence, dignity, and independence by riding trained horses under the direction of highly-credentialed staff. Their mission is to provide a safe, therapeutic equine experience for people with disabilities that fosters their confidence and dignity while challenging each participant to develop independent skills at their own level of ability. Under Arizona law, your dollar-for-dollar tax credit could be up to $400 for a single person, $800 for a married couple filing jointly. To consider this donation: CLICK HERE.
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John Fitzgerald
Phone: (480) 947-5300
Fitzgerald Wealth Management
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Scottsdale, AZ 85254
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