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Resources

  • Did you know that by donating to M.I.K.I.D. you’re eligible to receive a dollar-for-dollar Arizona tax credit?
    The State of Arizona offers an income tax credit to people who support qualifying charitable organizations. Formerly known as the Working Poor Tax Credit, this allows donors like you to receive a dollar-for-dollar state tax credit for making a financial contribution to M.I.K.I.D. This tax credit is in addition to any public or private school tax credits you may be claiming.
  • How much can I claim?
    Each year, taxpayers filing as “Single” or “Head of Household” may claim up to a $421 tax credit, while taxpayers filing as “Married Filing Joint” may claim up to $841 annually.
  • Is M.I.K.I.D. an Eligible Charity for the tax credit?
    Yes, please go to here to download the list of all eligible charities in Arizona for the tax credit.
  • Can you tell me more about the Arizona and Colorado Tax Credit?
    ARIZONA Check out some videos we found that explain the Arizona Tax Credit. Video 1 Video 2 COLORADO Who can claim the Charitable Contribution Subtraction? A taxpayer who both makes qualifying charitable contributions and claims the standard deduction on their federal income tax return for the same tax year can claim a Colorado charitable contribution subtraction for a portion of their contributions. What Charitable Contributions qualify for the subtraction? A contribution must meet the qualifications applicable to the federal charitable contribution deduction in order to be eligible for the charitable contribution subtraction. Contributions of both money and property can qualify for the subtraction, but the contribution must be made to a qualified organization to be eligible for the subtraction. Please see IRS Publication 17, Chapter 24 and IRS Publication 526 for additional information regarding qualifications. How to calculate the Charitable Contribution Subtraction? The charitable contribution subtraction is calculated by subtracting $500 from the total amount of the qualifying contribution made by the taxpayer during the tax year. For example, if a taxpayer who is eligible to take the charitable contribution subtraction made several qualifying contributions totaling $1200 during the tax year, the taxpayer could claim a charitable subtraction of $700. Additional information regarding federal rules can be found in the IRS Publication 17 and 526. How to claim the Charitable Contribution Subtraction? Make a charitable donation to MIKID HERE. MIKID will send you a written acknowledgment to document your donation and support your charitable contribution. Report your charitable contribution subtraction by entering the appropriate amount on the applicable line (“Qualifying Charitable Contribution”) of your Colorado income tax return. For tax year 2016 and later, the subtraction is claimed on the Subtractions from Income Schedule (Form DR 0104AD). For part-year residents and nonresidents, the subtraction is entered on the appropriate form (Form DR 0104AD), but the subtraction is not entered on the subtractions line on the Part-Year Resident/Nonresident Tax Calculation Schedule (Form 104PN). Visit here for additional information on the Charitable Contribution
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