Arizona Tax Credit Info
Cashing in on the AZ tax credit with Grand Classroom
Keep in mind that you may use multiple tax years to pay for a student adventure!
Aunts and Uncles, Grandparents, friends and neighbors can all contribute!
Click here to find out about the $200/individual or $400/joint Arizona tax credit for field trip participants! Instead of sending your tax money to Phoenix, you can use it to pay for your child's educational field trip! Arizona allows individual state income taxpayers to receive a TAX CREDIT of up to $400 for contributions made to public schools which support extracurricular activities! Married couples may claim a combined total of $400 when filing jointly. Single people may claim a total of $200. The credit can be claimed on personal income taxes only. The TAX CREDIT is available to all taxpayers whether or not they have children in the public schools.
Next spring, simply claim your tax credit of up to $400 for married couples filing jointly or $200 for individuals on your state income tax return. For more information log on to: Arizona Tax Credit Info. A tax deduction allows you to subtract the amount of a contribution from the amount of your taxable income. If you work in the state of Arizona and pay state taxes, the tax credit will save you dollar for dollar up to $400 for married couples filing jointly or up to $200 for individuals. A tax credit is subtracted from the amount of taxes you owe.
Steps for Arizona schools and parents to take to use AZ tax credits to pay for a Grand Classroom Student Adventure
- Connect lead teacher with the school business office ASAP.
- Distribute AZ tax credit forms to parents so their tax dollars can subsidize the Grand Classroom student adventure.
- Between the teacher and business office, come up with a plan to collect tax credit checks from parents and send to Grand Classroom to deposit in student’s accounts before the last payment for the trip is due. Please keep in mind that parents must be making payments to Grand Classroom until the total amount owed is paid for the trip.
- Note to teachers and business office: Make sure the business office has a plan to pay down the Grand Classroom accounts before parents have to pay the balance that the tax credit is intended to cover. (This becomes the biggest issue here)
- Once the parent gives the school their check, the business office will notify Grand Classroom and send an itemized roster including each student’s name and amount to deposit in each child’s account. Grand Classroom will issue an invoice to the school for payment.
- Save receipts from the business office for your tax records!
- Once the AZ tax credits are used to subsidize the student adventure, enjoy the trip and consider using this payment method again next year!
a. Each school district has their own tax credit forms, and each business office pays Grand Classroom on different schedules.
b. Some business offices allow tax credit payments in person with cash, or online with credit card or check.
a. Each business office will do this step differently, depending on school and district. Each lead teacher will notify parents of the business office plan for payment. Some schools make payments once a week, and others in one big check with a roster and amount per student.
b. Ensure the business office collects AZ tax deduction checks from parents with enough time to pay down accounts before it starts conflicting with a parent’s anticipated payment schedule. Ideally this step will be done several months before the last payment is due (parents want to know when this tax credit applies and rely on it). This last step is important because parents want to use their tax credits –usually right away.