Tax Credit Donation
Investing in Children Doesn't Cost You a Dime
Beginning in 2016: April 15 (for previous tax year)
Forms to File
AZ Form 321 & Instructions (QCO) https://azdor.gov/forms/tax-credits-forms/credit-contributions-qualifying-charitable-organizations
Maximum Credit for Any Tax Year.
Single or head of household: $400 (Qualifying Charitable Organization)
Married filing jointly: $800 (Qualifying Charitable Organization)
- You end up having no tax liability,
- You overpaid during the year and are receiving a refund, or
- You owe additional state taxes because not enough withholdings occurred during the year from your paychecks.
If you fall into #2 or #3, wou will pay Arizona state income taxes. Taking advantage of the tax credit allows you either to increase the amount of refund you receive from the state or decrease what you owe to the state. It also allows a say in where your tax payment actually goes.
A: Of course, Sunshine Acres Children’s Home will accept donations in any amount. New legislation in 2016 now means the most you can give that will qualify for the tax credit is:
- $400 – Single Filer
- $800 – Married Filer
A: Anyone can invest in our Miracle in the Desert. Anyone who pays Arizona state taxes, whether you itemize or not, single or married, can qualify for the tax credit.
A: You must give before tax filing deadline for the tax credit to apply to the current tax year.
A: No! We do not receive government support for the children and though we are donor-funded, we do not conduct fundraising/solicitation for ourselves. As a 501(c)3 nonprofit organization, every contribution is valuable and necessary for our continued success. Our success depends entirely on generous individual, foundation and corporate donors and still today, we do not turn children away for financial reasons.
A: Yes. Tax deductions are expenses, including charitable donations, that reduce your total taxable income and therefore the amount of tax you pay. A tax credit is different: A tax credit allows you to redirect 100 percent of the amount designated (up to $400 for taxpayers filing jointly and $200 for individual taxpayers), dollar-for-dollar, to the areas you choose.
Additionally, if you itemize your taxes on your U.S. federal tax return, you may be able to claim your donation as a federal tax deduction, thus lowering the amount of federal tax you’ll pay to the IRS.*
We encourage you to check with your professional tax advisor for advice on your personal tax situation and to learn how charitable giving to Sunshine Acres may specifically benefit you.
For more detailed information regarding the Tax Credit program, please call the Arizona Department of Revenue at 602.255.3381 or 800.352.4090 or visit www.azdor.gov.