Guest column: Taking care of our own; tax season on the horizon

In Coconino County, we look after each other and care for our neighbors. Giving to nonprofit and charitable organizations provide invaluable services that benefit the community and those in need. They depend on contributions to fund their vital programs and they often fill a gap where government can’t.

People should always consult with a tax advisor regarding their own personal tax situation prior to giving. I would like to make you aware of some tax credits you can ask your tax advisor about.

There are three tax credits offered of note that can help local communities like Williams. These include — Qualifying Charitable Organization Tax Credit (formerly known as the “working poor” credit), the Qualifying Foster Care Charitable Organization Tax Credit and the Arizona Public/Charter School Tax Credit. They require a dollar-for-dollar match.

If you choose to contribute to these you can either pay your Arizona income taxes at the end of the year and let the State of Arizona determine where your taxes will go, or you can designate up to a certain amount of your taxes to go specifically to a qualifying charitable organization and schools. Tax credits are dollar-for-dollar reductions in a person’s tax liability and thus more valuable than deductions, which reduce the income on which taxes apply. In a sense, you have some control to keep the money you would pay in taxes in your community and for the people of your community. Donors have until April 15, 2018 to make contributions for your 2017 tax return for these specific tax credit programs.

You can find more information about the amounts you can donate up to for each credit at the links below.

For a list of qualifying organizations for the Qualifying Charitable Tax Credit, visit https://www.azdor.gov/Portals/0/RefundCredits/CertifiedCharities2017.pdf.

For a list of qualifying organizations for Qualifying Foster Care Charitable Organization Tax Credit, visit https://www.azdor.gov/Portals/0/RefundCredits/CertifiedFosterCareCharities2017.pdf

For the school tax credit (for K-12 public/charter AZ schools), visit https://www.azdor.gov/ReportsResearch/SchoolTaxCredit.aspx

The few organizations in Williams that are Qualifying Charitable Organizations eligible for the dollar-for-dollar tax credit include Williams Habitat for Humanity, Coconino County Community Services which provides programs like Meals on Wheels, as well as Northern Arizona Council of Governments which also helps our aging population.

There are many nonprofit organizations in the community that may not be dollar-for-dollar tax credit Qualifying Charitable Organizations; however, donating to them may make you eligible for tax deductions. To name just a few of the nonprofit organizations in Williams, some include The Greater Williams Community Fund, United Way Kinder Camp program, 4-H, American Legion, Rotary, Arizona State Railroad Museum, Lions Club, Little League Baseball, American Youth Football, Save Meant to Rescue, Friends of the Williams Aquatic Center, Williams Alliance for the Arts and Yes I Can.

Nonprofit organizations are dedicated to the public good, working to improve lives and strengthen communities and the economy. I hope you consider helping these programs that do so much for our community.

For the school tax credit (for K-12 public/charter AZ schools), visit https://www.azdor.gov/ReportsResearch/SchoolTaxCredit.aspx

The few organizations in Williams that are Qualifying Charitable Organizations eligible for the dollar-for-dollar tax credit include Williams Habitat for Humanity, Coconino County Community Services which provides programs like Meals on Wheels, as well as Northern Arizona Council of Governments which also helps our aging population.

There are many nonprofit organizations in the community that may not be dollar-for-dollar tax credit Qualifying Charitable Organizations; however, donating to them may make you eligible for tax deductions. To name just a few of the nonprofit organizations in Williams, some include The Greater Williams Community Fund, United Way Kinder Camp program, 4-H, American Legion, Rotary, Arizona State Railroad Museum, Lions Club, Little League Baseball, American Youth Football, Save Meant to Rescue, Friends of the Williams Aquatic Center, Williams Alliance for the Arts and Yes I Can.

Nonprofit organizations are dedicated to the public good, working to improve lives and strengthen communities and the economy. I hope you consider helping these programs that do so much for our community.

Sincerely,

Matt Ryan

Coconino County Supervisor, District 3

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