House Passes Haiti Charitable Donation Law

The House of Representatives unanimously passed a law allowing individuals to take 2010 contributions toward earthquake relief in Haiti on their 2009 tax returns. I expect the Senate to pass the law very quickly, perhaps by the State of the Union address next week. I do not expect California to conform to the federal change.

Whether you should take the deduction in 2009 is another question, though. For most individuals, it won’t make a huge difference. For high income individuals, given that 2010 tax rates figure to be higher, you will likely get more bang for the buck by waiting until you file your 2010 taxes to take the deduction.

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