Disclaimer: This information is not to be taken as tax, accounting, or legal advice, but is provided for informational purposes only.
Who is Ryan House?
Ryan House was founded in 2003 to provide essential respite and pediatric palliative care for families navigating a life-limiting diagnosis after the Cottor family received a similar diagnosis for their youngest son Ryan. They had been living in England and received similar care at Helen House but were unable to find a similar organization when planning their move back to Arizona. With the help of family, friends, and exceptional community leaders and organizations, grass-roots efforts led to the founding of Ryan House. Your generous donations offer hope, courage, love, care, and friendship to children and families navigating unimaginable journeys.
What is Arizona Charitable Tax Credit?
Arizona provides a few opportunities to individuals for tax credits, one being the Arizona Charitable Tax Credit. A tax credit means that you will receive a dollar-for-dollar credit (up to the maximum allowable amount) on your Arizona state taxes for the amount you donate to a qualifying charitable organization like Ryan House. For example, if you donate $400 to Ryan House, your state tax liability will be reduced by $400.
While there is no minimum donation amount required to receive a tax credit, there are maximum dollar amounts that can be donated per fiscal year. For 2020, individual filers can donate up to $400 to receive a $400 credit and joint filers can donate up to $800 to receive an $800 credit.
*Please note that Arizona Charitable Tax Credit donations are separate from Public School Tax Credits and School Tax Credit Organizations. This means that you can donate up to the allowable amount for Arizona Charitable Tax Credits AND one or both of the other state tax credit options listed above to maximize the tax credits on your tax return.
What if my donation exceeds my tax liability?
Tax credit donations are nonrefundable and cannot exceed your tax liability. However, if you end up donating the maximum amount, $400 for individual filers and $800 for joint filers, and your tax liability is less than that amount, the extra funds can be carried forward for up to five years. In other words, you can apply those funds to your next years tax return to receive your dollar-for-dollar tax credit.
How do I receive a tax credit for my donation?
Every charity has a numerical code. When you make a donation, Ryan House will email you a receipt and send you a thank you note with the amount of your donation and our QCO code. Whether you file your taxes yourself electronically or you go to an accountant, you will be asked for that code. Provide that code, the amount donated, and a copy of your receipt or thank you note to receive your tax credit. *Please note that this tax credit is claimed on Form 321.