Tag: Flagstaff Charities

AZ Daily Sun: Working Poor Tax Credits Loom Large

| December 6, 2015
AZ Daily Sun: Working Poor Tax Credits Loom Large

Starting, this year, though, there is less pressure on schools to rake in as many extracurricular donations as possible before Dec. 31. That’s because the deadline for taking a tax credit has been changed from the calendar year to Tax Day – April 15. Not so, however, for the working poor tax credit – donations that qualify for a tax credit must be made by Dec. 31. A credit, unlike a deduction, is applied in full to taxes owed on a dollar-for-dollar basis. It can be taken each year based on donations before Dec. 31, up to $200 for an individual and $400 for a couple, just like the public school tax credit…

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