Get IA Form 322 2014-2023

Arizona's public-school tax credit program allows taxpayers to get a dollar-for-dollar credit on their taxes for donating directly to a public district or charter school. Donors do not have to donate to their own child's school or to the school nearest their home.

The Arizona State Tax Credit program allows you to make a donation to an eligible organization and receive a dollar-for-dollar credit against Arizona state taxes owed. ... In general, you must make your tax credit donations by April 15, 2019, in order for them to apply to the 2018 year.

The allowable current year's credit for contributions to QFCOs remains the same as the prior tax year. For 2018, the maximum current year's credit is: $500 for single and head of household taxpayers. $1,000 for married taxpayers filing a joint return.

The charitable donation deduction allows you to lower your taxable income for donations or gifts to qualified, tax-exempt organizations. To get the deduction, you must file Form 1040, the form you use for an individual or joint income tax return. You also must itemize your deductions on Schedule A on Form 1040.

Individual tax credits and deductions allow parents to receive state income tax relief for approved educational expenses, which can include private school tuition, books, supplies, computers, tutors and transportation. Tax credits lower the total taxes a person owes; a deduction reduces a person's total taxable income.

A. It is a tax credit of up to $2,500 of the cost of tuition, fees and course materials paid during the taxable year. Also, 40% of the credit (up to $1,000) is refundable. This means you can get it even if you owe no tax.

An education credit helps with the cost of higher education by reducing the amount of tax owed on your tax return. If the credit reduces your tax to less than zero, you may get a refund. There are two education credits available: the American opportunity tax credit (AOTC) and the lifetime learning credit (LLC).

The tuition and fees deduction disappears entirely for AGI above $80,000 and $160,000 for single and joint filers, respectively. If you qualify, the tuition and fees deduction allows you to exclude up to $4,000 of qualifying expenses from your income, so the exact benefit depends on your tax bracket.

With the American Opportunity Tax Credit (AOTC), you can get an annual credit of $2,500 per eligible student for qualified education expenses, such as tuition. And if your tax liability is low and you do not owe the IRS, you can get up to 40 percent of the credit in cash refunded to you.

The Tuition and Fees Deduction The deduction for tuition and fees is not available for the 2018 tax year. Those are the taxes you file in early 2019. ... If your modified adjusted gross income is above $80,000 (or above $160,000 for joint filers), you can't qualify for the deduction.

For 2018, the maximum current year's credit is: $500 for single and head of household taxpayers. $1,000 for married taxpayers filing a joint return.

The AZ family income tax credit is based on filing status, number of dependents and maximum income limits. For example: A husband and wife with 4 or more dependents, Arizona adjusted gross income (from Form 140A, line 12 or Form 140, line 42 minus lines 38, 39, 40, 41) would need to be $31,000 or less.

Arizona has a relatively low and flat personal income tax structure with rates ranging from 2.59 percent to just 4.54 percent. ... To pay for state and local government services, Arizona derives nearly half (48 percent) of its tax revenue from sales and excise taxes far above the national average of 35 percent.

Single taxpayers now will pay 3.34% on earnings between $26,501 and $53,000, down slightly from 3.36% before. Couples now pay 3.34% on earnings between $53,001 and $106,000. Single taxpayers now pay 4.17% on income between $53,001 and $159,000, down from 4.24% before.

The lowest rate, 7.6 percent, is in Huachuca City, near the Fort Huachuca military base. Other combined rates for larger cities in the state include Glendale (9.2 percent), Mesa (8.05 percent), Peoria (8.1 percent), Surprise (8.5 percent) and Tempe (8.1 percent).