Did you know you can help Arizona teens in foster care? Tax credits make this EASY!
Arizona Tax Credit
Because of the Arizona Charitable Tax Credit, you are able to redirect your state tax dollars to Chandler T.R.A.C.
This is equivalent to FREE money and is one of the easiest ways to contribute!
Click on the donate button above to donate today. Follow the quick, easy steps to make your donation by April 15th, 2018. Any donation amount up to $1,000 ($500 if single) will be a tax credit for your 2017 Arizona state tax return.
Note: This opportunity is a TAX CREDIT which is a dollar-for-dollar reduction of your taxes. This is NOT a TAX DEDUCTION, which simply lowers your taxable income. Consult your tax adviser on claiming the tax credit on AZ Form 352.
There are several popular credit programs, including:
- Contributions to Qualifying Charitable Organizations
- Contributions to Qualifying Foster Care Charitable Organizations
- Public School Tax Credit
- Private School Tuition Tax Credit
All tax credits can be utilized each year; Chandler T.R.A.C. falls under number two.
- Donations to Qualifying Charitable Organizations and Qualifying Foster Care Charitable Organizations are claimed as separate credits with separate limitations for each. In the past, the limits for the two types of organizations were combined into one.
- The maximum credit limits have increased.
- Qualifying Charitable Organization Limits: $400 single / $800 married
- Qualifying Foster Care Charitable Organization: $500 single / $1000 married
- Contributions can be made until April 15th of the following year. Previously, all contributions for the given year were due by December 31st. There is now more time to make contributions, just like traditional deductions.
- The Foster Care Credit form is now separate (Form 352). There is now Form 321 for regular organizations, Form 352 for foster care organizations, and Form 301 containing a summary of all credits taken.
Arizona Charitable Tax Credit
A tax deduction is what most people think of when it comes to writing something off on their taxes. Deductions lower your taxable income, so the amount you receive back is just a fraction of the deduction (equal to the percentage of your marginal tax bracket).
A tax credit, however, is a dollar-for-dollar reduction of your income tax liability. That means a $1,000 tax credit saves you exactly $1,000 in taxes. In other words, the state of Arizona pays you back 100% of your donation, making the donation at no-cost to you.
Other ways to donate
The best way to make a donation is by writing a check payable to Crossroads Nazarene Church and write “T.R.A.C. Donation” in the memo. Send checks to Crossroads Nazarene Church 2950 W. Ray Rd. Chandler AZ. 85224. You will receive a year-end tax statement from Crossroads for your tax records to receive a tax deduction.
You can certainly also use the donate button above to donate to us with a credit card through Hope & A Future and designating Chandler T.R.A.C.; however, it will be a traditional tax deduction instead of a tax credit since you won’t be filing an Arizona tax return.
By all means please do!!! The best way is to make the tax credit donation in its full amount by clicking on donate, then write a check for the remaining balance you would like to donate to Crossroads Nazarene Church. Mail to Crossroads Nazarene Church 2950 W. Ray Rd. Chandler AZ 85224. Please write T.R.A.C. in the memo. You will receive a year-end tax statement from Crossroads for your tax records to receive the tax deduction.
You can certainly also use the donate button above to donate the entire amount with a credit card; however, the donation amount above the tax credit limit will be considered a traditional tax deduction.
If you are from out-of-state then please follow the instructions from the question above regarding out-of-state donations.
If you will be filing an Arizona tax return and want to take advantage of the state tax credit, then you’ll need to write the check to Hope & A Future and designating Chandler T.R.A.C. since they are the qualifying foster care charitable organization that we partner with. Contact us and we’ll get you the appropriate information so that you can take advantage of the tax credit and still contribute to our camp.