Clearly blogging about Tax relief or incentives is not an area Highbrid Nation usually excels in however this new peice of legislation in particular may affect many in the Nation who have donated or plan to donate to the Haitian relief efforts. A new bill recently signed by President Obama and dubbed House Resolution 4462 will give taxpayers the ability to retroactively post date their monetary contributions to the Haiti onto their 2009 tax return if they choose despite making the donation in 2010.

The bill specifically accommodates those donations made via text message to organizations like Wyclef’s Haiti Yele fund or the more generic Red Cross.  All you’ll need to do is make sure you keep a copy of your phone bill showing the date, time, organization name, and donation amount on file in case of audit.

In this very creative “marketing” plan encourages Americans to give, especially those philanthropic individuals with the financial power to really make a difference in Haiti.  Large charitable contributions in January are rare given the fact its virtually impossible to project how they will impact tax benefits for the still young calender year.   Even if you’re like me and only gave a $5 or $10 text donation its still something to consider especially if you itemize your tax deductions instead of taking the standard.

If you need more help with this bill or any bill I encourage you to holler at our business manger and accountant, Mustafa Hooten CPA at Park Place Management Group (212) 791-1820 x 305 .  He’s good people, a member of the Nation and will take care of your finances the right way.