Last Day for 2008 Charitable Contributions

Today is the last day we can contribute to charitable organizations and get a deduction on our 2008 taxes. If you live in Arizona, there is a tax credit available, where you get a dollar for dollar reduction in your Arizona state tax bill for each dollar you contribute, up to a maximum amount.

Taxpayers filing as single and unmarried head of household have a maximum credit amount of $200. Taxpayers that are filing as married filing joint have a maximum credit of $400. Taxpayers filing married filing separate have a maximum credit of $200 each. In effect, donating to a charitable organization up to the maximum tax credit amount costs you nothing!

Check out the Arizona Department of Revenue website for details on the Arizona Charitable Tax Credit, including a list of qualifying Charitable Organizations.