· This is a tax credit, not an itemized deduction!
· If you work for a large corporation, they may double your gift! Check with your company.
· Check with your accountant but you can also claim a federal tax write off.
· The amount of your state income tax for the year will be reduced by the full amount of your donation!
· Don’t forget that you can give to this and to public schools maximizing your credit up to $1400 for a married couple.
ONE REALLY NICE THING: TEMPE SCHOOLS CREDIT UNION WILL GIVE YOU A NO INTEREST LOAN IF YOU WANT TO GIVE TO THIS AND DON'T REQUIRE PAYMENT BACK UNTIL AFTER YOU GET YOUR TAX RETURN!!
For privacy reasons, ACSTO is not permitted to inform us of your donation so we thank you in advance!
SUPPORT A STUDENT AT NO COST TO YOU!!!
We are truly grateful our children have been able to receive a Christ-centered education because of generous Arizona state tax payers who direct their state income taxes to support education.
As a tax a payer, you will receive a dollar-for-dollar state tax credit for every dollar contributed to our much needed funding (up to $500 for singles, and $1000 if married filing jointly). This also qualifies as a charitable deduction on your Federal Income Tax Return.
The following examples illustrate how the Arizona Tuition Tax Credit works, and why your tax credit contributions can help our family…at no cost to you!
· Most people have taxes deducted through payroll deductions. Anything paid to the State over and above taxes owed will increase the size your tax return.
· The program works in addition to the public school extracurricular activities and work poor tax credit.
· The law changed this year allowing you up to April 15th to donate for the 2010 tax year. I recommend determining your tax liability and to see what the actual and maximum benefit to you will be and donating just prior to doing your taxes. Let me know if you need a reminder phone call at a certain date!
To help, all you need to do is the following:
1. Determine the amount of tax dollars you want to redirect.
2. Fill out the attached form and recommend one of our children for a scholarship
Caleb, Josiah, Elaina, or Abner Ingegneri at Gilbert Christian School
3. Claim on your tax return!
ACSTO will mail you a receipt documenting the amount you gave. If you have further questions, you may reach us at 480-495-3501. We appreciate your consideration in supporting our family and Christian education. For more information about the statute you can also visit http://www.acsto.com/.
REMEMBER WHEN YOU DONATE TO SPECIFY CALEB, JOSIAH, OR ELAINA OR ABNER AT GILBERT CHRISTIAN SCHOOLS . NEW FOR 2010 TAX YEAR. YOU HAVE UNTIL APRIL 15TH TO DONATE.
As a tax a payer, you will receive a dollar-for-dollar state tax credit for every dollar contributed to our much needed funding (up to $500 for singles, and $1000 if married filing jointly). This also qualifies as a charitable deduction on your Federal Income Tax Return.
The following examples illustrate how the Arizona Tuition Tax Credit works, and why your tax credit contributions can help our family…at no cost to you!
· Most people have taxes deducted through payroll deductions. Anything paid to the State over and above taxes owed will increase the size your tax return.
· The program works in addition to the public school extracurricular activities and work poor tax credit.
· The law changed this year allowing you up to April 15th to donate for the 2010 tax year. I recommend determining your tax liability and to see what the actual and maximum benefit to you will be and donating just prior to doing your taxes. Let me know if you need a reminder phone call at a certain date!
To help, all you need to do is the following:
1. Determine the amount of tax dollars you want to redirect.
2. Fill out the attached form and recommend one of our children for a scholarship
Caleb, Josiah, Elaina, or Abner Ingegneri at Gilbert Christian School
3. Claim on your tax return!
ACSTO will mail you a receipt documenting the amount you gave. If you have further questions, you may reach us at 480-495-3501. We appreciate your consideration in supporting our family and Christian education. For more information about the statute you can also visit http://www.acsto.com/.
REMEMBER WHEN YOU DONATE TO SPECIFY CALEB, JOSIAH, OR ELAINA OR ABNER AT GILBERT CHRISTIAN SCHOOLS . NEW FOR 2010 TAX YEAR. YOU HAVE UNTIL APRIL 15TH TO DONATE.
Saturday, December 1, 2007
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3 comments:
ACSTO is great. Thanks for putting this together. We have received our money back from the state every year!
I love seeing the pictures and information about my beautiful nephews and niece! I am working on giving my ACSTO this year. I love being able to give toward the kids education and getting all the money back at the same time:D} Great blog!
Love You,
Carrie
Well done! Thank you, this Blog is a neat way to spread the voice and learn more about ACSTO.
Many blessing!
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