SFist Cares ... About Your 1040
Well, you can start by sending money to tsunami relief. In case you missed it donations you make until January 31st of this year can be counted against your deductions for 2004. As you know, because you are totally, like, up on your tax law charitable deductions can normally only be taken in the year they were made. The tsunami disaster is unique in a number of ways and this is one of the good ones.
So if you've been putting it off, for some reason we can't possibly imagine, then now is a great time to finally click that donation button. They enacted a whole new law for this one. Most of the time, SFist gets nervous when the government jumps on making new laws in the heat of the moment (ahemPatriotActahem) but this one is cool with us!
A very important detail is that your donation must be made to an American organization. None of those damned, dirty foreigners. That means American Red Cross good, International Red Cross not good (well, not for this).
Oh, one more thing... you've got to itemize. Sorry 1040EZ-ers. Check out sexy IRS Publication 3833 (PDF) for more details.
In other IRS news (because the IRS website is the funnest place ever!), keep in mind that if you intend to donate your vehicle to a charitable organization this year (2005) for a nice tax write-off... well, the rules have changed. It makes it a little less appealing we think. Basically, if it's worth more than $500 and they sell it, you can only claim the amount they sold it for not what you come up with as a fair market value. So, uh, sorry for not telling you sooner but it would have been better to have donated it last year. Oops.
Finally, have no fear SFiscans, if the grocery bag tax happens, SFist Cares will be back with some suggestions for charity-friendly alternatives. That is, if you haven't already bought appropriate SFist schwag.
Photo: US Navy, Photographer's Mate 3rd Class M. Jeremie Yoder.