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Prescott LIVING Magazine
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Home Special Sections Wealth Management

Keeping Tax Donations in Your Community

December 5, 2017
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In August 2016, five organizations united in a collected effort to educate and inform individuals on how they could redirect their Arizona tax dollars to make a difference in their local communities. Greater Prescott Area Tax Credit Coalition now has 17 organizations and continues to educate the community on practicing informed decision-making and having greater control over how their tax dollars are spent. Their mission is simple: to keep charitable donation monies local to support and strengthen essential social services needed by the greater Prescott area.
The coalition is diverse in its members, who represent various missions that capture multi-faceted needs of our local community. Members include Arizona Children’s Association, Boys & Girls Club of Central Arizona, Boys to Men Mentoring, Catholic Charities Community Services, Expeditionary Learning Academy, Hozhoni Foundation, The Launch Pad Teen Center, Northland Cares, Northpoint, Prescott Farmers Market, Prescott Free Clinic, Prescott Habitat for Humanity, Prescott Meals on Wheels, Prescott Unified School District, U.S. Vets, West Yavapai Guidance Clinic, Yavapai Casa for Kids Foundation, Schutte & Hilgendorf PLLC-CPAs and Arizona Community Foundation of Yavapai County.
The coalition focuses on education around tax credits – the amount of money a taxpayer is able to subtract against a tax liability that is owed to the state. Tax credits are designed to encourage or reward certain types of behavior that are considered beneficial to the economy, environment, or to further any other purpose the government deems important. Tax credits generally save taxpayers more money than deductions, as deductions only reduce the amount of your income that is subject to tax, whereas credits directly reduce your tax bill. A tax credit is a dollar-for-dollar reduction of the income tax you owe.
For example, if you owe $1,000 in Arizona taxes, but are eligible for an $800 tax credit, your net liability drops to $200. Tax liability can be dispersed into several categories to include qualifying charitable organizations, qualifying foster-care charitable organizations, public schools (includes public charters) and private school tuition organizations. Tax credit limits are not for the total year, but rather for each specific type of category. It’s possible to receive a $1,800 total credit by donating the maximum amount to each of the aforementioned categories. Contributions that exceed one’s tax liability can be “rolled over” into subsequent years and applied to future tax liability. Visit prescottareataxcredit.com/ for more information.
Check with your tax advisor to verify qualification.

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Come & enjoy the local scene in Prescott Arizona!

Prescott Living Magazine

15 hours ago

Prescott Living Magazine
OUT & ABOUT — Thank you to Karen Shaw for sending in these shots of Jerome and the San Francisco Peaks on a beautiful winter day! We publish reader photos in every issue of Prescott LIVING. Send in your best shots by email to photos@roxco.com. Photos should be taken by you, anywhere in the Greater Prescott area. Selected photos will appear in print and on our social media channels.#jeromeaz #prescott #northernaz #sanfranciscopeaks ... See MoreSee Less

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Prescott Living Magazine

24 hours ago

Prescott Living Magazine
Arizona State Senator Ken Bennett will read a proclamation in memory of Dr. Billie Orr on Wednesday, Feb. 1st at 1:15 p.m. on the Senate floor. The session will be livestreamed at www.azleg.gov/liveproceedings. Here is the text of the proclamation. . . . Recognition In Memory of Dr. Billie OrrWHEREAS, Dr. Billie Orr served the citizens of Prescott on the City Council from 2015 until 2021 and during that time as mayor Pro Tempore from 2017 until 2020; andWHEREAS, she was a member and past President of the Republican Women of Prescott; andWHEREAS, Dr. Billie Orr Founded the Mayor’s Commission on Well-Being for the City of Prescott; andWHEREAS, Dr. Billie Orr served as City Council Liaison for several City Boards and Commissions during her tenure as Councilmember; and WHEREAS, she served as a Board Member of Arizona Town Hall, Prescott Western Heritage Foundation and Yavapai Big Brothers Big Sisters; andWHEREAS, Dr. Billie Orr was an active Rotarian, serving on Rotary Clubs in the Phoenix area and in Prescott; and WHEREAS, she was a big fan of pickleball and helped Prescott Build outdoor courts for its citizens; andWHEREAS, prior to her service in Prescott, Dr. Billie Orr was active in Arizona education for more than twenty-five years; and WHEREAS, Dr. Billie Orr served the citizens of Arizona as Arizona’s Associate Superintendent of Public Instruction; andWHEREAS, under her leadership, Arizona created state academic standards that were ranked among the best in the nation; andWHEREAS, in earlier years she taught in the Madison District in Phoenix and was the Principal of Kiva School in Scottsdale; andWHEREAS, Dr. Billie Orr was a dedicated and longtime public servant to the citizens of Arizona who brought a positive and caring aspect to her service, inspiring many who worked with her; andWHEREAS, Dr. Billie Orr will be greatly missed by her many friends in Prescott and throughout Arizona; andNOW, THEREFORE BE IT RESOLVED, our heartfelt condolences and prayers go out to her husband Bob, their children and grandchildren and all family members.. . . ... See MoreSee Less

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