The end of the year brings with it the holidays and time for renewal and celebration. It also is the time for Arizonans to consider their tax liabilities as they head into the 2019 tax season.
The Arizona Charitable Tax Credit is popular among many state residents because it reduces a person’s tax liability dollar for dollar, down to zero. And the impact is significant on the approximately 700 charities that benefit from tax credit donations in the state.
The tax credit is a highly impactful resource for Arizonans by providing a direct tax credit, not just a deduction on taxable income,” said Collette Kamps, a financial and tax expert at Henry + Horne. “Taxpayers keep more of their tax dollars local by donating up to $400 for a single person or $800 for couples filing jointly to qualifying nonprofits. If the donor’s tax liability is less than the total donation, the remainder can be held over to the next tax year. It’s a win-win for both the taxpayer and our Arizona nonprofit community.”
Organizations like Mobile Mini are raising awareness of the tax credit benefit to employees. “As residents of the state, our employees pay taxes every year so the tax credit affords them an opportunity to help vulnerable families during the holidays,” said Mobile Mini Senior VP and Chief Counsel Chris Miner. “We want our Mobile Mini employees to contribute back to their communities and make a positive difference. This is one of the best ways because it doesn’t cost them anything. That’s a powerful incentive, and we are hearing from employees that they are responding by giving through the tax credit.”
The Charitable Tax Credit is truly a force multiplier for the hungry, the homeless and the abused. A New Leaf offers an information resource on its tax credit page, along with the ability to make a donation. It’s simple. It’s easy. And it’s quick.
Thank you to all of our supporters for considering this unique way to give. Because of you children find family, the abused find safety, the homeless find shelter, and veterans find peace.