Article by: Violet Michael
Beginning with the 2016 Arizona’s legislative session we saw a change to a number of Arizona’s tax credits with some increasing or separating credits into their own categories. For 2017 there was a small increase to the private school donation limits, but that was the only change.
A current list of the available credits are:
- Qualifying Charitable Organization (QCO) Tax Credit, which doubles the allowable amount of what formerly was known as the Charitable Tax Credit. Extended to the 2017 tax year, the QCO single or head-of- household credit is up to $400; for those filing jointly, it is up to $800. Like its predecessor, the QCO supports organizations providing assistance to Arizona residents who are low income, chronically ill or have physically disabled children.
If you need a recommendation we support the Central Arizona Dental Society Foundation: Central Arizona Dental Society Foundation – They provide free dental care for those that cannot afford it.
- The Qualifying Foster Care Organizations (QFCO) Tax Credit, which also is new, is similar to the QCO but is intended for foster-care community services. Extended to the 2017 tax year, the QFCO single or head-of-household credit is up to $500; for joint filers, it is up to $1,000.
Click here for a list of qualifying foster care organizationsIf you need a recommendation we support Arizonans for Children: Arizonans for Children They provide assistance to foster kids and place them with families.
- The Public/Charter School Tax Credit supports extracurricular activities that require students to pay a fee in order to participate. Taxpayers are not required to have children to take the credit, which is $200 for single or head-of-household, and $400 for joint filers.
If you need a recommendation we support Longview Elementary: Osborn School District – Select Longview Elementary It is a public school located in a low income community.
- The Private School Tuition Credit provides scholarship money to students attending private school. It is a maximum of $1,089 for single or head of household, and $2,177 for joint filers.
If you need a recommendation we support Pappas Kids Schoolhouse Foundation: Pappas Kids Schoolhouse Foundation They are a private school organization that also helps the lower income communities.
Please note: to claim one of the above credits on your 2017 Arizona tax return, contributions must be made by April 15, 2018.
- The Arizona Military Family Relief Fund (MFRF) is administered by the Arizona Department of Veterans’ Services and helps families of injured or killed service members with special expenses. Certain cash contributions to the fund qualify for a credit. The fund has an annual cap of $1-millon for refundable Arizona tax credits. Single or head-of-household taxpayers can take up to a $200 tax credit; joint filers, up to $400. MFRF 2017 Contribution Form
**** UPDATE ****
As of October 31, 2017 the fund has been filled. They will return all checks received for 2017. There are zero remaining credits for 2017 for the MFRF.