Arizona Tax Credits

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 summary of the various credits can be found here and the AZ Department of Revenue tax credit page is here.

About Michael McGinley, CFP®, AIF®

Michael McGinley has worked in the financial services industry for over 15 years. He is currently a partner at Providus Advisors, an investment advisory firm located in Chandler, AZ.

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