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Your Tax Dollars Don’t Wait For The State To Fund Education Give them to the state and…Give them to SHS and… Let lawmakers distribute Hope a portion is.

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Presentation on theme: "Your Tax Dollars Don’t Wait For The State To Fund Education Give them to the state and…Give them to SHS and… Let lawmakers distribute Hope a portion is."— Presentation transcript:

1 Your Tax Dollars Don’t Wait For The State To Fund Education Give them to the state and…Give them to SHS and… Let lawmakers distribute Hope a portion is allocated to schools Hope your child benefits Designate the funds as you choose (see back) Know exactly where your money is going See your taxes directly benefit your child Rarely do we get to choose exactly how our tax dollars will be spent, so don’t let the opportunity slip away!! Giving our tax dollars directly to SHS shows the legislature that education is important to us. And here’s more good news… many employers match the tax credit contributions of their employees – effectively doubling the contribution!!! Please ask if your employer participates. Remember that tax credits can be any amount up to $400* and can be paid in a lump sum or incrementally. More information on back. Please contact the school office (731-7103) with questions or for further information. You have a choice regarding your tax dollars!! Take Charge Of * Single or Head of Household is a maximum credit contribution of $200. TAXES Arizona taxpayers can give up to $400* of their state taxes directly to Sahuaro High School. Cut out the government “middle man” and put your taxes to work for our students! This is not a “donation” but an opportunity to reroute a portion of your state taxes to directly benefit your child!! A tax credit contribution doesn’t cost anything extra. You’re simply paying some of your taxes directly to SHS instead of to the state! There are a variety of ways to directly benefit our students. (See list of options on back.) Any AZ taxpayer may participate. Would your friends & family be willing to help our kids? It’s fast and easy!! 1.Complete the Tax Credit form (download or complete online at http://www.tusd1.org/contents/distinfo/aztaxcredit/index.asp ). 2.Write a check for the amount you would like to contribute (or pay online with a credit card). 3.Take or mail your check & completed form to SHS (or complete and pay online) before December 31, 2009. You will be given or mailed a receipt. 4.Keep your receipt in a safe place! By law, the school can not provide replacement receipts. 5.Calculate your state taxes to reflect your tax credit, and calculate your federal taxes to show the same amount as a donation. 6.Attach your receipt to your state tax return. Reduce your state tax bill (or increase your state refund) by the amount of your Tax Credit contribution.

2 New amount of your tax refund600 New amount of AZ state taxes owed100 Tax Credit Contribution 400plus Tax Credit Contribution400 minus Tax refund due to you 200 Adjusted state taxes due500 Taxes already paid 1,200minus Taxes already paid500minus AZ taxes owed 1,000 AZ taxes owed 1,000 If you're DUE A REFUND If you OWE state taxes This is how it works…. You can participate whether you OWE taxes are DUE A REFUND New amount of AZ taxes owed600 New amount of AZ taxes owed988 100% dollar-for-dollar credit 400minus 3% of $400 donation12 minus AZ taxes owed 1,000 AZ taxes owed1,000 Tax Credit Tax Deduction By participating in this program, taxpayers receive a state tax credit, not a tax deduction; however, they can claim the amount of their contribution as a donation on their federal taxes. All examples shown here are calculated on a $400 contribution at the most common Arizona tax bracket (3%). Figures are fictional, used solely to demonstrate the tax credit concept. Results will vary based on contribution amount, tax bracket, and amount of taxes owed. For questions regarding their specific circumstances, participants should consult their tax professionals. Difference Between a Tax Deduction and a Tax Credit Following is a list of all SHS activities qualified by state law to receive tax credit contributions. Participants may direct their contributions to any one or more of these activities. Athletic Fund (general) Band Baseball Boys’ Basketball Girls’ Basketball Choir Boys’ Cross Country Girls’ Cross Country Dance Drama Fine Arts (general) Football Boys’ Golf Girls’ Golf Mock Trial Orchestra Boys’ Soccer Girls’ Soccer Softball Speech/Debate Spirit Line Boys’ Swimming Girls’ Swimming Boys’ Tennis Girls’ Tennis Boys’ Track Girls’ Track Boys’ Volleyball Girls’ Volleyball Wrestling Specific Club (must be a chartered SHS club and participant must designate by club name) Sahuaro General Fund (provides flexibility to support any of the above at Principal’s discretion) For more information, please contact the school office at 731-7103.


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