According to the IRS, if you gave to a charity providing earthquake relief in Haiti you can claim the deduction on your 2009 tax return if you choose. In order to get the deduction for the 2009 year you must itemize your deductions (use Schedule A) and have made a cash contribution after January 11, 2010 and before March 1, 2010; so there is still time to make a donation and get a deduction on your 2009 tax return.
The new law only applies to cash contributions as opposed to property contributions. The IRS will accept as proof of the contribution any receipt indicating a contribution of cash to Haiti during the allowed timeframe, including your phone bill if the contribution was made via the phone by text message.
As a note, many states do not yet conform to this new law (including California) so if they do not conform, the contribution will not be allowed in 2009 for the state, but would be deductible for the state in 2010.
One of the easiest ways to make a contribution is by phone by texting “HAITI” to 90999 to donate $10 to the American Red Cross relief for Haiti.
For more information on this topic visit our news room at http://www.mlbinc.com/news78.htm
Tags: Donations, Haiti, Tax
This entry was posted by Richard Rogers, EA on Tuesday, January 26th, 2010 at 8:42 am and is filed under Deductions, For Individuals. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
About The Author
Richard Rogers has been working as a tax professional for over six years and has been working with small businesses for over 20. As an enrolled agent, he routinely represents the interests of taxpayers before the Internal Revenue Service and Franchise Tax Board. He works in a tax practice that focuses on the special needs of individuals and small businesses.
Richard currently is employed in a private tax practice where he helps people and businesses resolve their tax issues, minimize their tax liability, and plan for their financial future. While Richard does most types of tax returns including individual, he specializes in small business returns including C-Corporation, S-Corporation, Partnership and LLC returns.
Richard also has a strong background in accounting, management, and information systems as he worked as a CFO and CIO for a software development company for 12 years.
Richard earned a bachelor’s degree in Business Administration from San Diego State University with in emphasis in Information Systems. He also taught business courses at the university. He currently stays abreast of tax law changes through continuing education, seminars, and research via the Internet.
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