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›WK Publications
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The IRS set the standard mileage rate at 50 cents per business mile driven for 2010.
To Convert or Not to Convert? Converting a traditional IRA to a Roth IRA might benefit certain taxpayers. Download our brochure here.
IRS TAX TIP: Ten Facts About Claiming Donations Made to Haiti
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2010 Haiti Relief Contributions Allowed on 2009 Tax Returns Charitable contributions are usually deductible in the year they are made, but a new law recently signed by President Obama allows donors who make cash charitable contributions to aid Haiti earthquake victims before March 1, 2010, to elect to accelerate the income tax deduction to their 2009 tax return. This law is intended to encourage earthquake-related charitable donations and is similar to the 2005 legislation that pertained to Indian Ocean tsunami relief donations. The new election allows individuals to claim an itemized charitable deduction and also applies to corporations and others who claim charitable deductions. The law also provides some record-keeping requirement relief for contributions made through text-messaging services. For these contributions, a telephone bill identifying the name of the applicable charity, the date of the contribution, and the amount of the contribution will substantiate the charitable deduction. Please notify your WK tax advisor if you wish to deduct eligible contributions on your 2009 tax return. If you have questions regarding the deductibility of donations in support of Haiti earthquake victims or other charitable contributions, please contact us at (573) 442-6171 or (573) 635-6196. Click here to view the article in PDF format. |
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Columbia, MO (573) 442-6171 | Jefferson City, MO (573) 635-6196 | information@williamskeepers.com Member, PKF North American Network | Copyright © 2008 Williams-Keepers LLC
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