Just a friendly reminder to our Arizona based clients that tax credits are available for donations to various organizations, some of which must be made by year end. A tax credit is a dollar for dollar reduction in the amount of state tax owed. For example, if your state income tax for 2015 is $1,500 and you make a qualifying donation of $500, your tax liability is reduced by the amount of the credit to $1,000. If you have an interest in donating to a school or charitable organization you care about, this is a great program to partake in.
A good summary of the various credits can be found here.