January is Collection Month

by admin on January 11, 2013

We all go through most of January with the sense that the holidays are over, the kids are back in school and our mailbox gets filled up with all of our important tax information. Hence I call it collection month. We go to the mailbox and pull out all of those important documents and put them in our favorite tax collection method. For me, it is a shoe box. After all of the documents are in, we either work on our taxes or we have someone that prepares them for us.  It is always an interesting event – taxes.

We all have the hope that we will see a return, or at the very least be close to zero that we owe. For the state of Arizona we are lucky that we have options that reduce our tax burden dollar for dollar.  Read below and/or click on this link to learn much more..

  • Arizona Private School Tuition Tax Credit Law, A.R.S. Section 43-1089 allows individuals to re-direct their State income tax to School Tuition Organizations, like Az4Education to provide private scholarships to private school students in Arizona. Keeping the “School Choice” alive and well.
  • The amount that you want to donate is very personal. The Tax Credit law allows a married couple that files jointly to take up to an annual credit of $2006 or $1003 filing as a single taxpayer. This is a dollar for dollar reduction in your tax you owe the State.

As you are going through you taxes and you see that you owe the state some money, you can do a couple of things. At the end, you can write the state a check for the amount that you tax burden is. Or you can, donate to us (or other STO’s) to reduce that tax burden dollar for dollar. For our STO, almost all (minus credit card fees and minimal operating expenses) of that money goes directly to student scholarships. All of us at Az4Education are volunteers, not a salary is given out!

So, it is up to you. Write a check to the state or donate it!

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