Haiti Donations Could Lower 2009 Taxes

By now, everybody is aware of the sheer devastation inflicted on the people of Haiti by a massive earthquake that struck 9 days ago.  It has been estimated that in excess of 200,000 people have been killed or are still missing.  The global outpouring of aide & donations are setting records daily.  However, in an effort to reward those that have made donations to Haiti–as well as provide an incentive to those that have not–a bi-partisan bill is being introduced by the Leaders of the House Ways & Means Committee that would allow for donations made between January 12 and February 28 to count toward your 2009 taxes, thereby potentially lowering 2009 tax liabilities.

“This measure provides an immediate benefit for those who have already given and incentive for those who are considering a charitable contribution,” Committee Chairman Charles B. Rangel, D-NY, said in a prepared statement.

Similar legislation was passed in 2005 to boost contributions in the aftermath of the Indian Ocean tsunami that occurred in late 2004. Typically, charitable contributions count toward the year in which they are made. The current measure would mean taxpayers don’t have to wait until next year to claim the benefit on their 2010 tax returns.

Haiti Disaster Relief.
The disaster in Haiti has caused widespread suffering and a medical emergency. A wonderful charity, Doctors Without Borders, is on the front-line providing vital medical care. Please join Hewitt Business Consultants in our support for emergency medical care for the men, women, and children affected by the earthquake in Haiti.

There are many organizations, charities & relief funds you can donate to.  Click here to see some of your available options.

For additional tax information contact Hewitt Business Consultants at (919) 341-1585 or email laurice@hewittbusinessconsultants.com.