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A new law allows taxpayers who itemize to deduct on their 2004 tax returns certain contributions to charities to aid the victims of the tsunami even if the contribution was made during January 2005. For more information, see New Law Encourages Tsunami Relief Contributions.

Generally, contributions are deductible for the year in which they are actually made.

Contributions to domestic, tax-exempt, charitable organizations that provide assistance to individuals in foreign lands qualify as tax-deductible contributions for federal income tax purposes provided the U.S. organization has full control and discretion over the uses of such funds.

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