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Arizona School Tax Credit
I encourage you to take advantage of a state law that provides an excellent way to support your child’s school at no cost to you. This law (ARS 43-1089.01) allows families filing jointly to donate up to $400 per calendar year to the Ahwatukee Foothills Prep (AFP) and receive a dollar-for-dollar income tax credit for the amount you donate.
For example, (a couple filing jointly) let’s say your state income tax for 2008 is $500. A $400 donation to the school would mean that the tax owed to the state becomes $100. In the same example, a $20 donation would reduce your state tax to $480.
For single taxpayers or head of household, the credit cannot exceed $200.
Your donation (payable to AFP by cash or check) must be received by December 31, 2009 to qualify for this year’s taxes. AFP will give you a receipt so you can claim the credit when you file your taxes. AFP will also notify the Arizona Department of Revenue of your donation.
It is not a requirement that the taxpayer have a child enrolled in the school, so your family, friends, and employers can also take advantage of this credit by donating to AFP.
State law requires that money donated for the credit is used for AFP’s curricular activities such as field trips, drama, music, athletics, and other programs that supplement your child’s educational experience.
If you have any questions please feel free to contact the school.Information can also be obtained from the Arizona Department of Revenue at (602) 255-3381 or at www.azdor.gov, or from your tax preparer.
Getting the income tax credit is easy and it helps the school tremendously. I urge you to join me in making a donation and taking credit for supporting AFP.
