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Tax Credit Information Click here to print a tax donation form. State law allows Arizonans to contribute up to $400 to public schools for extra curricular activities, and then deduct that amount directly from their state income taxes through a tax credit. Contributions must be postmarked by December 31 of the year to which you want to apply your tax credit. Individuals and couples filing jointly may take advantage of this tax credit (maximum of $200 can be deducted per tax return, or couples filing a joing return may deduct a maximum of $400). At the Tempe Union High School District, cash or checks will be accepted at high school campus bookstores. Each school will issue a receipt, to be included with your tax information, at the time of the donation. All school contributions will remain at the school and each school site will determine the allocation of funds. Some schools may provide more specific activity or department allocation areas (contact the school to verify). Frequently Asked Questions What is the difference between a tax credit and tax deduction? The Girls Thunder Volleyball program has a few fund raising activities. These funds are used to support the team, equipment, banquet, awards, trips, etc. Other fund raisers include: booster/family memberships, t-shirt sales, or other items. Is this tax credit only available to parents with students in school? No, this tax credit is available to any Arizona taxpayer, regardless of whether or not they have children in school. If I get a refund from the state, will I still benefit from this tax credit? Yes, your refund will increase by the amount you contribute. For example, you have paid $400 in state taxes during the year through payroll deductions, and you are receiving a $100 refund. You have also made a $200 contribution to a school and are receiving a $200 tax credit. You would then receive a $300 refund. What do I submit with my taxes as proof of this contribution? You must submit the receipt from the school. Once you have given your contribution to the school representative, a receipt will be provided to you for tax purposes. If you mail in the completed tax credit deposit form with your contribution, a receipt will be mailed to you. I have been donating money to schools for years, what's the difference? Contributions to schools have always been tax deductible. A tax deduction allows you to subtract the amount of a contribution from the amount of your taxable income. The new law allows a tax credit, which is subtracted from the amount of taxes you owe. Can I choose which extra curricular activities my money should benefit? Yes, you can indicate areas of allocation, such as a student club or activity. Are all Arizona schools participating? No, only public schools that charge fees for extra curricular activities are eligible for the tax credit. Tempe Union implemented a $1 extra-curricular Activity Fee, effective September 10, 1998. In June 2002, the district began charging a fee for some extra-curricular activities. The fee is now $25. These fees qualify for the tax credit program. When can I participate? Right Now! All you need to do is write a check and fill out the form and mail it to the school of your choice, postmarked by December 31 to take advantage of the tax credit for this year. Arizona Department of Revenue Guidelines
Parents! Click here to print a tax donation form. Send comments to mollywest@cox.net |