The tragedy in Haiti has left us all wondering: what can we, as accountants, do to help?
The American Institute of Certified Public Accountants (AICPA) has been encouraging CPAs to donate to the AICPA's disaster relief fund, CPAs in Support of America Fund Inc. The Fund was created after 9/11 and has aided victims of Hurricane Katrina as well. To donate, Click Here.The House of Representatives has also stepped in by passing a recent legislation for Haiti earthquake relief. Taxpayers who make charitable contributions to the victims of the earthquake in Haiti by March 1, 2010 are eligible to receive tax deductions on 2009 tax returns rather than waiting until next year.
To qualify for these tax deductions, donations must be:
- Monetary - checks, credit cards, and donations made by text messages or phone are acceptable - marketable securities are not.
- Itemized on tax returns.
- Given to charities that have some US affiliation.
- Given to legit charities.
For receiving, we give. And for giving, we receive. Help make a difference.
- Ruba Ayyat, Marketing
Cohn, Michael. "Haiti Donations Could Be Deductible This Tax Season." www.webcpa.com. January 20, 2009. <http://www.webcpa.com/news/Haiti-Donations-Could-Be-Deductible-This-Tax-Season-53035-1.html>
"AICPA Urges Help for Haiti Earthquake Victims." www.webcpa.com. January 19, 2009. <http://www.webcpa.com/news/AICPA-Urges-Help-Haiti-Earthquake-Victims-53026-1.html>
"CCH Tax Briefing: Haiti Earthquake Relief." tax.cchgroup.co. January 20, 2010. <http://tax.cchgroup.com/Legislation/HaitiEarthquakeRelief.pdf?pacp-attached=1&pacp-SITESERVER=ID=faa06e76518b2dc4a29b012ae8086a90>