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« The advertising value of taxes | Main | Tax relief for disaster victims »

Monday, May 12, 2008

Help needed for natural disaster victims

Man, I did not want to have to write about the need for charitable donations, but Mother Nature is just not being very maternal.

TornadoSo far this year, the U.S. has been hit by a near-record number of killer tornadoes that has left almost 100 people dead and their families devastated not only by the property damage, but by the much more costly personal loss of loved ones.

Weather experts say that the 98 tornado-related deaths make 2008 the deadliest year thus far for twisters since 1998 and the seventh deadliest since modern record keeping began in 1950.

We're just now in the prime twister month, and if the outbreaks continue, 2008 could record the most tornadoes since 1950. "We are on a pace that continues a record number" of twisters, said Greg Forbes, severe weather expert at The Weather Channel.

Donations can help: There is nothing we can do to ease the pain of those who've lost family and friend in a natural catastrophe. But we can try to help meet their other post-disaster needs.

If you can spare it, call or go to a relief organization's Web page and make a tax-deductible donation.

Both the American Red Cross and Salvation Army are taking contributions and, in many cases, you get a say in where your financial assistance will be used.

If you want to expand your generosity beyond U.S. borders, both nonprofits also are accepting donations to help survivors of Cyclone Nargis, which hit Myanmar (Burma) a week ago, and the 7.8 magnitude earthquake that rocked southwestern China overnight.

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Thanks, Kay, for reminding people how to donate to help disaster victims. Let me add that they do NOT need STUFF. Cash donations are the only real benefit, as STUFF requires someone to sort through it, transport it, and distribute it.

I lost a relative in the Seneca, Missouri area Mother's Day and I worked seven years for FEMA (back when FEMA worked). I thought I understood what people were going through as a result of natural disasters, but now I can say I really understand.

And a big thanks to all of you reading Kay's wonderful blog who donate to help others.

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July 2008

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Tax Calendar

  • tax season 2008

    The first filing deadline has come and gone. But if you got an extension, mark Oct. 15 on your calendar. Until then, stick around. We'll help you finally finish your 1040 and keep an eye on the other tax dates below.

    July 1: You're halfway through the year. Now's the perfect time to make some midyear tax moves that could cut your 2008 IRS bill.

    July 4: Celebrate your independence from tax hassles. Hire a tax professional now to help get your tax life in shape.

    July 10: Does your job include tips? If so and you received $20 in tips in June, use Form 4070 to report them today to your employer.

    July 16: Are your kids at day camp while you work? You might be able to use that expense to claim the child and dependent care credit. dependents on your tax return.

    July 23: If, however, your kids have summer jobs, make sure they understand their tax responsibilities.

    July 24: You can help your youngster get a nest egg head start by helping him or her open a Roth IRA with some of those summer earnings..

    July 31: Speaking of retirement plans, if you have a retirement plan (other than a SEP or SIMPLE IRA) with more than $100,000 file a Form 5500 or Form 5500 EZ by today. Need more time? File an extension and move the deadline to Oct. 15.

    July Small Business Tax Calendar: Key filing, deposit and record keeping dates your company needs to know.

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