The Free Loan at the Jewish Federation is a 501(c)(3) non-profit organization and is a Qualifying Charitable Organization. Individuals and couples who pay income taxes to the State of Arizona can redirect their hard-earned tax dollars to benefit qualifying non-profit organizations like The Free Loan at the Jewish Federation, earning a valuable tax credit. Individuals may contribute up to $400 and married couples filing jointly may contribute up to $800.
By making your contribution to The Free Loan at the Jewish Federation by April 15th (or when you file your taxes, whichever comes first) you may qualify for a tax credit in the current tax year.
Charitable Tax Credits differ from tax deductions because they are fully tax-refundable. They will either reduce the total personal Arizona state income tax you owe or increase the state income tax refund you receive, dollar-for-dollar. If the total credit earned is greater than the total tax owed this year, the remaining unused credit can be applied to future state tax returns for up to five years.
The maximum tax credit you can claim is based on your personal tax situation and whether you file a joint or individual tax return. Please consult your financial advisor or tax preparer to determine your eligibility and how you can put your tax dollars to work in this truly meaningful way.
Use QCO Code 20483 on your tax return.
Couples filing jointly - $800 maximum
Individual filing - $400 maximum