ARIZONA TAX CREDITS, 2020 FEDERAL RETURN DEDUCTION

Arizona's Qualified Charitable Organization Tax Credit (QCO# 20446)

Receive a Dollar-for-Dollar Credit on Your Arizona Tax Return

Imagine helping children and adults with autism, down syndrome, cerebral palsy, and stroke learn to walk, speak, improve social skills, and increase independence at no cost to you with the potential of making money! It sounds too good to be true. Maybe that’s why less than one in one hundred Arizona taxpayers take advantage of this opportunity. 

 

Neurologic Music Therapy Services of Arizona/NMTSA (a 501(c) 3 organization) tirelessly works to prepare individuals, families, and the community for a positive future in which persons with acquired and developmental neurological differences can be active, contributing members within their families and society as a whole. The services and support we provide allow us to qualify for Qualified Charitable Organization Tax Credit, of which only certain qualifying non-profits are eligible. 

 

Since Neurologic Music Therapy Services of Arizona (NMTSA) qualifies for this tax credit (#20446), Arizona State Law A.R.S. 43-1088 states if you donate $400 to NMTSA as an individual or $800 to us as a couple filing jointly you may be eligible to receive a dollar-for-dollar credit on your tax return!

 

** Note: This is NOT the same as the Arizona Tuition Tax Credit. These are separate opportunities, so you can participate in both.

How Does the Qualified Charitable Organization Tax Credit Work?

To qualify for the Qualified Charitable Organization tax credit, make a contribution to NMTSA by April 15th. To do this, please select one of the options below: 

        

  1. Donate  to NMTSA. You can do this safely and securely online, or mail cash or check directly.

  2. Get a receipt. We will mail you a receipt once your gift has been received and processed. 

  3. File your taxes. You no longer have to itemize your charitable contributions. 

 

When you fill out your Arizona tax return, complete the very simple Form 321 and deduct the amount of your gift, up to $400 per individual or $800 per couple filing jointly, from what you owe in state taxes for the year. (NMTSA QCO#20446)

 

Remember to include your charitable donation on your federal tax return and you can end up getting back more than you gave! 

 

**Arizona State Income Tax Credits are available based on your income tax filing status. NMTSA is not a tax advisor. As with any financial recommendation, contact a qualified tax professional for expert advice on your specific tax situation. 

***2020 UNIVERSAL TAX DEDUCTION***

UNIVERSAL DEDUCTION:  For the more than 90% of taxpayers who no longer itemize their charitable giving, the CARES Act allows each tax return to deduct donations to nonprofits of up to $300 on their 2020 federal tax return, even if they take the standard deduction.

 

RAISING THE CHARITABLE GIVING DEDUCTION CAP:

For donors who qualify to itemize deductions, and therefore directly write off gifts to nonprofits, the current deduction cap is 60% of adjusted gross income.** Corporations are able to deduct charitable donations up to 10% of taxable income.

MAIL CASH OR CHECKS TO:

NMTSA

3221 N. 16th St, Suite 201

Phoenix, AZ 85016

Arizona's School Choice Tuition Tax Credit

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3221 N 16th Street, Suite 201, Phoenix, AZ 85016 |  (602) 840-6410