New Tax Break for Haiti Earthquake Contributions

This post is in: Business
No Comments

helpA new tax law lets you take a deduction for contributions made to legitimate charities benefiting the Haiti Earthquake relief on your 2009 tax return, instead of your 2010 return.

Only cash contributions made after January 11, 2010 and before March 1, 2010 are eligible.  ‘Cash’ includes donations by cash, check, credit card or text messages.

The money must be used specifically to help in relief from the Haiti earthquake of January 12, 2010.

You may take a deduction for 2009 or 2010, but not in both years.

The donation deduction is reported on your Schedule A, under charitable donations.  Remember to keep proof of payment with the date and method of payment.  And remember the payments must be made to legitimate charities.

Leave a Comment