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Good News for Donations To Haiti

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discocrisco01 Donating Member (524 posts) Send PM | Profile | Ignore Sun Jan-17-10 05:31 PM
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Good News for Donations To Haiti
From the http://www.buffalonews.com/nationalworld/state/story/924562.html">Buffalo News

"The state’s U. S. senators have proposed temporarily lifting limits on tax deductions for charitable contributions aimed at helping earthquake victims in Haiti.

Sens. Charles E. Schumer and Kirsten E. Gillibrand, both Democrats, said they would introduce legislation that would lift the limits in hopes of encouraging people to contribute to Haitian relief efforts.

Under current law, a taxpayer can take a deduction only for up to 50 percent of income a year. That means donors cannot avoid taxes by giving away all their income in a specific year. For corporations, tax deductions are limited to 10 percent of their income.

That is some good news because the Haitian economy has a LOT of rebuilding to do.
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BunkerHill24 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jan-17-10 05:41 PM
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1. We also need to call on debt forgiveness. nt
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peacetalksforall Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jan-17-10 05:42 PM
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2. Yes.
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shireen Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-18-10 03:47 AM
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3. +1
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