Many people would like to have the ability to direct their taxes toward causes they support, including education. Fortunately, the state of Arizona allows taxpayers to do just that. Arizona tax credits allow you to direct your tax liability toward tuition scholarships for Catholic schools or charities you care about. How exactly does this work, and where do your tax dollars go? Let’s dive into the specifics behind Arizona tax credits.
How Do Arizona Tax Credits Work?
The Arizona tax credit program provides a dollar-for-dollar credit for contributions to Arizona organizations that qualify under the program. For example, if you choose to contribute $100 to a certified organization that qualifies, the state of Arizona will credit that $100 from your tax bill.
That means, in the event that you owe the state $400 at the end of the year, that amount would be reduced to $300 because you already paid $100 toward a qualifying state non-profit organization. You’re deciding where part of your tax dollars are going by supporting a cause you care about.
When it comes down to it, redirecting your tax dollars doesn’t cost you anything, as you would be paying the same amount in the form of your tax bill.
You can choose where you want to spend your tax dollars! The Arizona Department of Revenue provides a list of qualifying organizations to which you can direct your tax dollars.
Through CEA, you can direct your tax dollars to support Catholic schools throughout the Diocese of Phoenix. By directing your tax dollars, you’re actively investing in the futures of Arizona students and the state’s future workforce. 99.8% of Catholic high school students graduate, and 97% matriculate to higher education, trade school, or enter military service.
If you’re interested in learning more about directing your tax dollars to Catholic Education Arizona, don’t hesitate to reach out today. We’ll be happy to answer any questions you may have.
Posted 2/24/2023
