Back in March, we covered the reporting and record-keeping requirements for non-cash charitable contributions.
Now we will focus on how you can determine how much your charitable contribution is worth. What is the true value of that nearly-new suitcase or the blouse you’ve owned for twenty years?
The first thing that you must consider is the condition of the object...
Well, it’s official folks! The Senate passed the resolution to allow taxpayers who itemize the option to deduct qualified cash donations to earthquake relief efforts in Haiti on their 2009 tax returns.
H.R. 4462 is now on its way to President Obama, and he’s expected to sign it shortly.
For those of you who may have missed...
The U.S. House of Representatives voted today on H.R. 4462, a bill proposing to accelerate the income tax benefits for charitable cash contributions for the relief of victims of the earthquake in Haiti. Introduced by Ways and Means Committee Chairman Charles B. Rangel (D-NY) and Ranking Member Dave Camp (R-MI), along with 154 additional original...
