How the Arizona Charitable Tax Credit Works
- By making an investment in New Pathways for Youth, you are driving change in our community, guiding youth as they transform their lives. As if that weren’t rewarding enough, you can get those dollars back on your taxes! This year, due to the tax filing deadline extension, a contribution made before May 17 can go toward a credit on your 2020 tax filing. Make the AZ Charitable Credit Now
1. You get your money back!
Tax Credits reduce your taxes dollar-for-dollar as a credit (not a deduction). In other words, a donation of up to $800 to NPFY will be applied as a credit on your state tax return. Choose to give your tax dollars directly to help NPFY save lives.
2. Everyone Qualifies
No need to itemize! Everyone who files income taxes in Arizona can claim the credit, simply by making a contribution to NPFY!
3. Take Multiple Tax Credits
In the same year, you may take advantage of multiple tax credits: the Charitable Tax Credit, Public School Tax Credit, Private School Tuition Credit, the Foster Care Credit, and more.
4. Up to $800 in Credit
Couples filing jointly can now give any amount up to $800 maximum (individuals can give up to $400). Any donation amount up to the maximum is appreciated.
5. New in 2020 – Deduct even if you don’t itemize!
If you are not itemizing on your 2020 taxes, the CARES Act allows for an additional, “above-the-line” deduction for charitable gifts made up to $300 (for both single taxpayers and those filing jointly). For this deduction, you must have made your contribution by Dec. 31, 2020.