Did you know you can choose where your Arizona state tax dollars go? Instead of paying the state, you can direct those funds to support foster kids, schools, or local charities, all through Arizona’s tax credit program. Every dollar you donate comes straight off what you owe the state.
For example, if you owe $1,400 in taxes and you donate $1,200 to a qualified charity, then you’ll only pay $200 to the state. And you can spread your giving across different categories and organizations.
It’s simple to do too. You check your eligibility, pick your charities, and make sure you keep your receipt for taxes.
Even if you don't live in Arizona, this episode may be worth a listen because many states offer charitable giving incentives. Check with your state's Department of Revenue, tax agency, CPA, or financial advisor to see what opportunities may be available where you live.
Key Takeaways:
Links and resources mentioned:
Ready for the next step?
Disclaimer:
The information discussed in this podcast is for educational and informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, investments, or financial instruments. Always consult with a qualified financial advisor, attorney, or tax professional before making any investment decisions. The hosts and guests of this podcast are not responsible for any actions taken based on the information presented. Always consult your CPA or tax professional regarding your specific tax situation.