Dear Friends,
I am so grateful that Poppy is able to attend Tempe Montessori School again this year.
As you may know, Arizona offers several different tax credits. These credits are a great way to lower your Arizona tax liability and take control of how your funds are spent here in the state.
Because it is a dollar-for-dollar tax credit, the net cost to you is zero. You simply have the option of paying your taxes to the state or redirecting those funds through this program. You can even recommend a student if you like.
Would you consider participating?
Here are a couple caveats that cause the most confusion. I am not asking for money, though this is out of pocket at first.
1. Dollar for dollar tax credit = meaning whatever taxes you reallocate to Poppy's school you get the refund back for each dollar (this needs to fall within two paramaters, however)
a. Must be the amount of your liability, or less (I found mine listed on last year's AZ tax form AZ-8879, line 48 **PLEASE check with your tax pro to see if this also applies for you, or where to find**
b. Must be less than the max allowed to contribute **PLEASE review link below for most up to date amount**
2. If completed when doing your taxes, the payment amount would be out of your account from that day, until you get your tax refund back. I have found that to be a couple weeks.
If you have questions, this link will provide support, or you can call Arizona Tuition Connection at 480-409-4106; they're great to work with! Once you donate, a receipt will be provided for your tax advisor.
Feel free to call me if you would like to discuss it further!
Sincerely,
Trisha
If you would like to make a tax credit donation, simply click the button above to be directed to a pre-filled donation form for Poppy!
Maximum Donation Amounts
2023 Tax Year:
$2,609 filing married jointly
$1,307 filing single