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| Tax Credit frequently asked questions |
What is a tax credit?
A tax credit is a dollar-for-dollar reduction in your Arizona income tax liability.
In other words, you subtract the amount of your contribution to your Pointe
School as a direct credit against the amount of tax liability. For example,
suppose you are married and filing jointly and owe $1,000 in state income
taxes. When you donate $400 to a Pointe School, you receive a credit for
that exact amount on your Arizona income tax return. As a result, you will only
owe the state $600 on your return.
Is it a tax deduction?
No. You receive a tax credit on your Arizona income tax return for your
contribution. A tax credit is much more valuable to you than a tax deduction.
Who is eligible?
This tax credit is available to all Arizona individuals who pay state
income taxes, regardless of whether or not they have children in school.
Do I have to itemize?
No. You do not have to itemize deductions in order to take advantage
of the Arizona tax credit for your contribution to your Pointe School of
your choice. However, in order to receive the tax credit you must file Arizona
Form 140 (the longer tax return form).
Why should I give money to a Pointe School?
With limited school funding, students do not always have the opportunity to participate in a wide variety of extracurricular activities. School tax credit donations
can provide Pointe School students with opportunities such as after-school tutoring programs, after school athletic opportunities, after school arts instruction
(band, choir, theatre) and student clubs or other education or recreational activities which supplement the school's academic programs. In addition, the funds
can help to pay for uniforms and equipment for various extracurricular activities. Simply put, tax credit donations make possible a wide variety of learning
opportunities and experiences that our students might not otherwise have.
Why should I participate?
This program allows you (rather than the Arizona legislature) to control how your tax dollars are spent. You can direct a portion of your tax dollars directly to
your Pointe School, where the money will be used to support a variety of beneficial programs for the students. Since all of your contribution will be returned to
you when you file your taxes (up to the maximum annual limitation), there is no out-of-pocket expense to you for participating.
What does the school do with the money?
Your tax credit donations can be used for School tax credit donations can provide Pointe School students with opportunities such as after-school tutoring
programs, after school athletic opportunities, after school arts instruction (band, choir, theatre) and student clubs or other education or recreational activities
which supplement the school's academic programs.
Can I use my credit card to make a donation?
Yes. Credit/Debit Card contributions can be made at each Pointe Schools site.
Can I designate what the money is spent on?
Yes. You have the option of designating the specific extracurricular activity your donation will support. Please download, complete, and submit the Pointe
Schools Extra-Curricular Tax Credit Form with your contribution.
Do I have to donate the full $200 or $400 all at once?
No, you can choose to donate up to the $200 or $400 limit in installments during the calendar year or you can donate it at one time. If you do not wish to
donate the full amount, any amount you choose would be valuable to our students and appreciated by our schools. Just make sure the check(s) are brought
to the school, or postmarked if mailed, no later than December 31. Remember,
When is the deadline?
Your contribution must be delivered or postmark it by December 31st.
I'm ready to donate. Now what do I do?
Simply download, complete, and submit (deliver to the school office or mail) the Pointe Schools Extra-Curricular Tax Credit Form with your contribution.
Remember to make your check payable to the Pointe School to which you are donating and deliver or postmark it by December 31st. The school will mail you
a receipt to use in your tax preparation soon after they receive your donation.
A tax credit is a dollar-for-dollar reduction in your Arizona income tax liability.
In other words, you subtract the amount of your contribution to your Pointe
School as a direct credit against the amount of tax liability. For example,
suppose you are married and filing jointly and owe $1,000 in state income
taxes. When you donate $400 to a Pointe School, you receive a credit for
that exact amount on your Arizona income tax return. As a result, you will only
owe the state $600 on your return.
Is it a tax deduction?
No. You receive a tax credit on your Arizona income tax return for your
contribution. A tax credit is much more valuable to you than a tax deduction.
Who is eligible?
This tax credit is available to all Arizona individuals who pay state
income taxes, regardless of whether or not they have children in school.
Do I have to itemize?
No. You do not have to itemize deductions in order to take advantage
of the Arizona tax credit for your contribution to your Pointe School of
your choice. However, in order to receive the tax credit you must file Arizona
Form 140 (the longer tax return form).
Why should I give money to a Pointe School?
With limited school funding, students do not always have the opportunity to participate in a wide variety of extracurricular activities. School tax credit donations
can provide Pointe School students with opportunities such as after-school tutoring programs, after school athletic opportunities, after school arts instruction
(band, choir, theatre) and student clubs or other education or recreational activities which supplement the school's academic programs. In addition, the funds
can help to pay for uniforms and equipment for various extracurricular activities. Simply put, tax credit donations make possible a wide variety of learning
opportunities and experiences that our students might not otherwise have.
Why should I participate?
This program allows you (rather than the Arizona legislature) to control how your tax dollars are spent. You can direct a portion of your tax dollars directly to
your Pointe School, where the money will be used to support a variety of beneficial programs for the students. Since all of your contribution will be returned to
you when you file your taxes (up to the maximum annual limitation), there is no out-of-pocket expense to you for participating.
What does the school do with the money?
Your tax credit donations can be used for School tax credit donations can provide Pointe School students with opportunities such as after-school tutoring
programs, after school athletic opportunities, after school arts instruction (band, choir, theatre) and student clubs or other education or recreational activities
which supplement the school's academic programs.
Can I use my credit card to make a donation?
Yes. Credit/Debit Card contributions can be made at each Pointe Schools site.
Can I designate what the money is spent on?
Yes. You have the option of designating the specific extracurricular activity your donation will support. Please download, complete, and submit the Pointe
Schools Extra-Curricular Tax Credit Form with your contribution.
Do I have to donate the full $200 or $400 all at once?
No, you can choose to donate up to the $200 or $400 limit in installments during the calendar year or you can donate it at one time. If you do not wish to
donate the full amount, any amount you choose would be valuable to our students and appreciated by our schools. Just make sure the check(s) are brought
to the school, or postmarked if mailed, no later than December 31. Remember,
When is the deadline?
Your contribution must be delivered or postmark it by December 31st.
I'm ready to donate. Now what do I do?
Simply download, complete, and submit (deliver to the school office or mail) the Pointe Schools Extra-Curricular Tax Credit Form with your contribution.
Remember to make your check payable to the Pointe School to which you are donating and deliver or postmark it by December 31st. The school will mail you
a receipt to use in your tax preparation soon after they receive your donation.
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