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Get fast write-off for Haiti relief

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in Small Business Tax

A new federal law bolsters charitable donations for emergency aid and rebuilding efforts in Haiti.

Under the “Haiti Assistance Income Tax Incentive Act,” you can deduct donations made this year, as long as they were made before March 1, 2010, on your 2009 return instead of waiting to deduct them on your 2010 return (which won’t be filed until sometime next year).

The new law also allows use of phone bills as proof of donations made via text message.

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