School tax donation deadline nears
Yuma's Education Scholarship (YES) Fund for Kids, Inc. is looking to remind the community that the tax donation deadline for 2012 is Dec. 31.
The YES Fund for Kids is a local school tuition tax-exempt charitable organization started in 2003 accepting donations to go toward private K-12 schools in Yuma. Taxpayers will receive a dollar-for-dollar tax credit against their Arizona state income tax owed for their donation.
In 2012, a new “switcher” tax credit was created doubling the amount couples and individuals can donate to private schools.
“The tax law allows Arizona taxpayers to make donations each year to Yes! Fund for Kids, which then provides tuition scholarships to families in need,” stated the organization. “A married couple filing jointly can make a donation up to $2,006 and a single taxpayer's donation can be up to $1,003.”
Donations made by April 15 may be applied to either the current or preceding taxable year and will be considered to have been made on the last day of that taxable year for state tax purposes. For federal tax purposes it is deemed a deduction in the year in which it is given.
Contributors may indicate on their donation card the student and school to which they wish to donate. Donations can be made at www.azyesfund.org or mailed to 4027 S. Navel Ave., Yuma AZ 85365. For additional information visit the website or contact 314-0033.
Sarah Womer can be reached at swomer@yumasun.com or 539-6858. Find her on Facebook at Facebook.com/YSSarahWomer or on Twitter at @YSSarahWomer.
