Military Family Relief Fund Archives - Blau Company Accounting & Tax Preparation

Arizona Military Family Relief Fund

Edit: As of Friday, December 13, the AMFRF has hit it's maximum contribution limit of $1,000,000, and the credit is no longer available for 2013. Donations to the Military Family Relief Fund, a fund dedicated to the support of Arizona's deployed soldiers, are eligible for dollar-for-dollar reductions of Arizona State income tax. State law caps contributions to the fund to $1,000,000 per year. The Department of Veteran's Services will provide you with a receipt that will confirm your donation qualified. We recommend this contribution be made EARLY in the year, in order to ensure the contribution will qualify. Contributions up [...]

November 19th, 2013|Personal Tax|Comments Off

Arizona Tax Credits

We would like to remind you of the tax credits available for charitable contributions to certain causes. Arizona tax credits are available to reduce your tax liability dollar-for-dollar, but are not refundable. Unused contribution credits roll forward to future years. A taxpayer who makes $1,800 of eligible contributions but has only a $400 liability will reduce their liability to $0 and have $1,200 available for future years. You will find your 2011 State of Arizona tax liability on Form 140 Line 24. If you have any questions, please contact our office. […]

July 5th, 2013|Personal Tax|Comments Off