Q: Why is a tax credit better than a deduction?
A: A tax deduction lowers the amount of income you can be taxed on, lowering your tax liability by a certain percentage. But a tax credit is a dollar-for-dollar lowering of the amount of taxes you have to pay. So, if you owe $400 in state taxes and donate $400 to the Flagstaff Family Food Center, you will owe nothing to the state!
Q: What is the maximum contribution?
A: The maximum contribution for an individual is $400 and $800 for married couples filing jointly.
Q: When is the last day I can make my Arizona Charitable Tax Credit Contribution?
A: You must make your donation to a qualifying organization by the time you file your taxes. Tax Day is April 15, 2020.
Q: Is the Flagstaff Family Food Center a qualifying organization?
A: Yes, we sure are! That means that we were vetted by the state to ensure that over 50% of our clients served are below the poverty level and that your generous donation will go towards helping local families in need.
Q: Can I give to my child’s school and the Flagstaff Family Food Center?
A: Yes! Tax credits for contributions to Qualifying Charitable Organizations are in addition to and completely separate from the Public School Activity Tax Credit and Private School Tuition Tax Credit – you can participate in all of them in the same tax season.
You can donate up to $400 to the Flagstaff Family Food Center if filing individually or up to $800 if married filing jointly.
Put your tax dollars to work for families in need in Northern Arizona.
Remember, for every $1 you donate up to the limit, you can get $1 back.
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