The Prescott Sunrise Lions Club, currently meeting at Waffles & More on Iron Springs at 7 a.m. each Thursday, has been servicing the Prescott, Prescott Valley and Yavapai County region for 54 years. Please come and join us as a guest if you are interested in joining and helping the community. Our main focus is kids. We help kids in Yavapai County with vision and hearing care, dental issues and other physical ailments.
Some of the non-profits we provide funds for include Youth Vision and Hearing Care, People Who Care, Camp Tatiyee – Summer Camp for Disabled Youth, Del E. Webb Family Enrichment Center, School Nurse Assistance, Yavapai Food Bank, and YEI. During the fiscal year 2018, we received contributions of more than $180,000, which goes back into this community.
In prior years, we also purchased eye scanners for the Yavapai School Nurses who travel to the schools in Yavapai County to scan kids’ eyes to determine if they need eye care of any kind and we gave funds for the Yarnell fire relief. The Prescott Sunrise Lions provides these funds by doing two main projects: Paper Recycling in Prescott Valley and Arizona Tax Credits.
Our tax credit program is going to continue this year and has grown every year since inception. Please look out for our flyers in the newspaper in September and October. Remember, Arizona tax credits are a dollar-for-dollar credit against your tax burden. There are five tax credit programs you can participate in each year and you can keep the money (that you are going to pay out anyway) local instead of paying it to the state. And you can monitor the non-profits you give to.
For example, if you do some tax planning and determine you owe $1,000 to Arizona, you can contribute $1,000 to the various tax credit programs (each has a limit) by April 15, 2020, and you will not owe anything to Arizona. If you owe $800 to the state and you contribute $1,000, you will not owe anything and you can carry forward the extra $200 to up to five future tax years and use it the next year. Please contribute, it really is a no-brainer for those who will owe the state.
So, take advantage of the other Arizona Tax Credits such as:
Arizona Military Family Relief Fund, which allows $400 Married Filing Jointly and $200 other statuses. There is a cap on this one of $1 million, so this may already be funded for 2019. So, you may want to do this as soon as possible.
The public schools, like Tri City Prep, which is $400 married filing jointly and $200 other statuses. You can contribute to this until April 15, 2020, for a 2019 tax credit.
Foster Care Tax Credit, CASA for Kids Foundation is an example that is $1,000 married filing jointly and $500 other statuses. You can contribute to this until April 15, 2020, for a 2019 tax credit.
Private school tax credit, Primavera or Sacred Heart are examples, which is $2,324 married filing jointly and $1,162 other statuses. You can contribute to this until April 15, 2020, for a 2019 tax credit. QCBN
By David A Snyder, CPA, MBA, EA
David has been in the accounting and tax business for over 19 years. His company, David A. Snyder CPA, PLLC, conveniently located in downtown Prescott, is an affiliate of E.R. Taxes, LC. He specializes in creating business plans, asset protection and tax preparation for individuals as well as corporations. To reach David call 928.445-0104 Ext.9 or email: dsnyder141414@gmail.com
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