Donations for Haiti victims can now be deducted on your 2009 tax return rather than waiting until next year!
President Obama has signed H.R. 4462 that makes Haiti donations deductible on 2009 tax returns
For those contributions that are made on or after January 12, 2010 and not later than February 28, 2010, legislation has been approved and signed that allows eligible taxpayers to claim a deduction on their 2009 income tax returns for contributions to earthquake relief efforts in Haiti.
This legislation applies only to cash contributions and not to non-cash contributions such as food or clothing. Also, contributions to foreign organizations do not qualify for the deduction – only contributions to U.S. organizations count for the early deduction.
As with all tax-deductible contributions, documentation is required to substantiate the date and amount of the contribution. The legislation contains a provision which permits a telephone bill to be used as documentation of contributions made by text message.
For this and other tax matters, please contact our office at 321.765.8200 or visit us on the web at New Genesis Financial, LLC.
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