If you want to save money on your taxes, you should consider donating to charity. The Arizona Charitable Tax Credit gives you the unique opportunity to donate to charitable causes and receive either a credit to reduce your tax liability or a reimbursement to increase your tax refund.
There are over 2,000 charitable organizations across the state that qualify. These include nonprofit organizations that Arizona charitable tax credit provide health care services, education, hunger relief and assistance to the homeless.
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Each of them gets funding through the Arizona Charitable Tax Credit. This means that you can use your money to donate to a cause that matters to you. This could mean anything from a soup kitchen to an animal shelter. To qualify, you must be a resident of Arizona and make a donation to an organization in the state.
The Arizona Charitable Tax Credit works very much like a donation. You donate directly to a qualified organization. This could be through a check or in cash.
As soon as you make the donation, the organization files its own return for the donation. When this is done, your return will include a donation and the amount that you contributed. This is known as the Arizona Charitable Tax Credit.
The value of the credit depends on the total amount that you donated. This is determined based on the amount that you donated and the tax bracket that you were in.