Comments on: Pension Protection Act Effects on Donations http://www.bargaineering.com/articles/pension-protection-act-effects-on-donations.html personal finance blog with anecdotes, advice and commentary. Sun, 22 Nov 2009 02:01:03 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: CK http://www.bargaineering.com/articles/pension-protection-act-effects-on-donations.html/comment-page-1#comment-42554 CK Tue, 14 Nov 2006 20:41:07 +0000 http://www.bargaineering.com/articles/pension-protection-act-effects-on-donations.html#comment-42554 So I can't deduct my old socks for 100 dollars a pair anymore? They are really great socks though. So I can’t deduct my old socks for 100 dollars a pair anymore? They are really great socks though.

]]> By: moneysmartlife http://www.bargaineering.com/articles/pension-protection-act-effects-on-donations.html/comment-page-1#comment-42342 moneysmartlife Tue, 14 Nov 2006 02:45:18 +0000 http://www.bargaineering.com/articles/pension-protection-act-effects-on-donations.html#comment-42342 Tax laws are never simple. Former Congressman Steven Symms said, "When Congress talks of tax reform, grab your wallet and run for cover." I touched on these changes recently in <a href="http://www.moneysmartlife.com/2006/11/10/a-quick-guide-for-last-minute-tax-strategies" rel="nofollow"> "A Quick Guide for Last Minute Tax Strategies"</a>. It sounds like the change for donated property only applies to donations made after Aug. 17, 2006; how's that for a random date? Also, if the non-cash contributions are more than $500, you have to fill out an additional form to claim the deduction. Tax laws are never simple. Former Congressman Steven Symms said, “When Congress talks of tax reform, grab your wallet and run for cover.” I touched on these changes recently in “A Quick Guide for Last Minute Tax Strategies”.

It sounds like the change for donated property only applies to donations made after Aug. 17, 2006; how’s that for a random date? Also, if the non-cash contributions are more than $500, you have to fill out an additional form to claim the deduction.

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