Tax Credit

How does it work?
You write a check to AAL before December 31^st. The school will mail you a receipt with the school's tax code. Then when you file your 2007 state tax return you deduct the amount you contributed.

What if I owe money at tax time?
If you owe the State money , you owe less by the amount you contributed.

What if the State owes me money?
If apart from your contribution, the State owes you money, you get that back plus what you contributed. So you are not really donating money, you are simply re-allocating how tax money owed to the State is used- by "loaning"  it to the school until you file your return and get it back. In fact, if you participate, you get to deduct it from your Federal return  if you itemize, meaning you get a minimum profit return of 15%. With the Federal deduction allownace, you are also getting good interest on your "loan."

Who can contribute?
The only requirements are that you live in Arizona, have taxable income, and that you would like to re-allocate your tax dollars this way.

What about paperwork?
There is very little paperwork. AAL will mail you a receipt. You use that receipt when you file your state return, using Form 140. You do not have to itemize.

What if I don't have much or any tax liability for 2007?
The credit can only reduce your tax liability to zero, but any unused amount may be carried forward for as many as five consecutive taxable years.

Can I split the money between schools?
Yes

What is the benefit of donating?
You can help students realize the positive and empowering effects of activities that challenge the mind and body. Also, your donation allows AAL to redirect the money it spends on extracurricluars costs to academics and teacher support.

What if I have more questions?
You can contact AAL at (520) 940-3784. They can answer any other questions you may have.