Dear Valued Client,

Happy February!  It's amazing how time flies when tax season is upon us.

I am very excited to welcome a new member to our team, here at Sum of all Numbers! Paula Brogan is our new Business Development Manager.  She brings with her 20 years of experience in business development and marketing.  Please give her a warm welcome and you will all be getting to know more about her over the next few weeks.  

The themes of this month's newsletter are, of course, Haiti and Taxes. I'm sure many of you responded generously to the relief effort in Haiti, and as some of you may have heard, Congress is allowing your 2010 contributions  as 2009 deductions.  The details are in the article included in this issue.

I know that our Sum of All Numbers clients are ready for taxes, but for those of you out there who might be going through some eleventh hour anxiety, Sum of All Numbers is open for new business and working long hours during crunch time.  Don't hesitate to call if there's anything we can do to help!



Sincerely,

Holly DeVito
Sum of All Numbers

Deduction Tips for Contributors to Haiti Relief Effort
Haiti Contributions Deductible on 2009 Return - Congress has passed a bill (HR 4462) to permit taxpayers contributing to Haitian relief charities to elect to treat contributions made after Jan. 11, 2010, and before Mar. 1, 2010, as if the contributions had been made on Dec. 31, 2009. If the election is made, Haiti relief donations would be deductible on the 2009 return, not the 2010 return. (Read More)
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Tax Breaks for Charity Volunteers

If you volunteer your time for a charity, you may qualify for some tax breaks.  Although no tax deduction is allowed for the value of services performed for a charity, there are deductions permitted for out-of-pocket costs incurred while performing the services.  (Read More)
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Little-Known - But Important - Credit Card Rules for Merchants
Businesses that accept credit and debit cards must comply with privacy laws that aim to protect customer identity.  There are regulations that even the most seasoned of merchants aren't always aware of.  It's important for merchants, as well as consumers, to be aware of these little-known credit card rules to protect themselves and their information. (Read More)
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Circular 230 Disclosure, United States Treasury regulations effective June 21, 2005 require us to notify you that to the extent of this communication, or any of its attachments, contains or constitutes advice regarding any U.S. Federal tax issue, such advice is not intended or written to be used, and cannot be used, by any person for the purpose of avoiding any penalties that can be imposed by the Internal Revenue Service.
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