Arizona Tax Credits - Explained
Will you fill out a 2015 Arizona Tax Form?
For a change, you decide how your tax dollars are spent.
You can support CDO with a donation and get every penny back as your credit for your state taxes. CDO High School, CDO sports programs, fine arts programs, IB, Odyssey of the Mind and more use Tax Credits to support their efforts. You don't have to have a child in school to use your Tax Credit but you need to have a tax liability of at least the amount donated.
Remember, the Arizona School Tax Credit is a Genuine "Two-fer." If you contribute to the Arizona School Tax Credit, that money might also be a "Tax Deduction" on your Federal Income Tax form. See your tax adviser or refer to Arizona Law (A.R.S. 43-1089.01) for additional details.
This is how it works:
You fill out the CDO Tax Credit form and give up to $200 (single) or $400 (married couple) and when you fill out your taxes you take that exact amount and apply it to what you owe to Arizona.
Here is the link for info about Tax Credit including links and forms.
OK, So how does your Tax Credit actually work?
- Just bring in/mail form and donation to the CDO bookstore, 25 W. Calle Concordia, Tucson, AZ 85704. Please designate your tax credit for CDO HIGH SCHOOL. Checks will be deposited and the money is immediately available for our school. When you use your visa, it takes longer for the money to get into CDO's account. If you want to support a specific club or activity, fill that out on the form.
- Then, when you fill out your 2015 Arizona tax return, you can subtract the amount of your contribution up to $200 maximum ($400 for married couples filing a joint tax return) from what you owe in taxes for the year.
It's not just a deduction; it's a credit. Feel free to donate a portion of your tax credit every few months to make it easier on your budget. $100/month for 4 months gets you the full married credit and supports CDO without hitting your budget too hard while you wait to apply it to your state taxes.
Couples can donate up to $400 and individuals can donate up to $200.
Ask friends and family members to use their tax credit dollars to help support CDO programs.
Attached is the printable form for Tax Credit donations. Print and mail or drop off:
