The Tax Resources Blog

Posts Tagged ‘news’

Income Tax News 2009

Question: Isn’t some telethon for Haiti aid airing soon? Is everyone in for the free ride on magic carpet.?

Early Tax Deduction for Haiti Relief Passes Congress

http://www.businessweek.com/news/2010-01-21/early-tax-deduction-for-haiti-relief-passes-congress-update3-.html

The Tax Cuts will expire next go round. then what?

If you or I donated 500 to goodwill in 2010, and we want the deduction for 2009 we can’t do it. Its fraud/illegal. That simple.

But Obama’s looking to “allow” any 2010 haiti donations to be deducted of the 09 returns?

Good Morning America had a ticker banner run this morning – said Obama’s looking to sign an order where Americans can deduct off their 2009 Income Taxes any donations made to Haiti.

The Haiti Earth Quake occurred in Jan 2010.

Taking a 2010 donation in tax-yr 2009 constitutes TAX fraud. That simple.
Interesting since they ultimately want to limit charitable deductions in the future.
You can make IRA and 401K contributions up until tax day for the prior year. However disaster donations are for the applicable year.

Answer: moron

google HAARP

Chong Eng debate on Income Tax (1 of 3) – Malaysia News