Why it matters: Supporting youth and child advocates requires community support
A charitable heart in Arizona can reap rewards that go beyond knowing we are making a difference in our community. Thanks to the Qualified Foster Care Organization tax credit program, Arizona tax payers have an opportunity to take advantage of a dollar-for-dollar tax credit and save on their Arizona state taxes.
Simply donate to a QFCO, note the organization’s QFCO number (10010 for VOICES) keep your receipt and then include it in your tax preparation. The tax credit threshold is adjusted annually for inflation.
Tax Year 2023:
- $587 single, married filing separate or head of household
- $1,173 for married filing jointly
This can apply for donations made in 2023 or donations made January 1, 2024 – April 15, 2024 if being claimed on the 2023 Arizona income tax return.
It is important to note that a QFCO tax credit can be claimed in addition to other tax credits, such as as those made to a Qualified Charitable Organization (QCO), Public Schools or tax-deductible donations such as those made to cultural or animal welfare organizations.
To learn more visit: Arizona Department of Revenue
*Always speak to your Tax Advisor
