Charitable Contributions
The Season of Giving
As we approach the end of the year, this tends to be the season of giving. The annual Giving Tuesday will start in a few weeks to kick off the season of charitable giving. The IRS has a helpful tool taxpayers can use that allows users to search charities to ensure they are tax-exempt organizations and eligible to receive tax-deductible charitable contributions. Click here to use this helpful tool.
During this season of giving, many Arizonans will be making Arizona Tax Credits, which allow income tax dollars to be redirected to many local charities. The Arizona Department of Revenue’s website provides helpful information on the available tax credits as well as the maximum amounts individuals and married couples can contribute. For more information on these tax credits, click here.
As a reminder during this season of giving, charitable donations made online though websites such as GoFundMe, YouCaring, or Fundly are typically non-deductible donations.