Spring is upon us. It’s the season where colors return to our world’s pallette, cleaning gets a little deeper, and children start to see the glimmer of hope that is the end of the school year off in the distance. For children in foster care, though, it’s often hard to look past the challenges of one single day, let alone an entire season. Although the number of children in foster care in Arizona has decreased significantly since 2017, from about 18,000 to now about 14,000, their numbers are on the rise again. If this concerns you, don’t worry, you’re not alone. The good news is, you can make an impact right now through the Arizona Foster Care Tax Credit.
If you made a donation to Agape Adoption Agency and you have not filed your 2019 taxes yet, you can take advantage of this right away. This point in the calendar is also a great time to plan your charitable giving for the rest of the year. If you’re thinking about being a first-time donor, we’ve added some handy FAQ’s
What is the Arizona Foster Care Tax Credit?
It is a dollar-for-dollar tax credit, that will reduce your total owed amount of Arizona state tax by up to $1,000 for joint filings, and up to $500 for single or separate filings.
Isn’t it just like any other tax deduction?
No, it’s not a tax deduction. The Arizona Foster Care Tax Credit reduces the amount of state tax you owe. HOWEVER, you may also be able to claim any contributions to Agape on your Federal taxes as well, which is an additional advantage.
How do I participate?
Step 1: Make a financial donation to Agape Adoption Agency of Arizona. We will provide you with a receipt.
Step 2: *Download this form from the Arizona Department of Revenue Website: https://azdor.gov/forms/tax-credits-forms/credit-contributions-qualifying-foster-care-charitable-organizations (*NOTE: the form for tax year 2020 should be available in mid-January of 2021)
Step 3: Fill out the form and – this step is important – in the space for Qualifying Foster Care Charitable Organization Code, write down Agape’s code: 10031.
We are so grateful for all of you who have given to Agape Adoption Agency of Arizona, and equally as grateful for all of you who are considering giving for the first time. Of course, if you feel your heart leading you to become a foster or adoptive parent, we would love to get to know you.
Happy spring!
