On December 30,2008,Debbie,a Sole Proprietor,pledged to Make a $10,000 Charitable

question 28

True/False

On December 30,2008,Debbie,a sole proprietor,pledged to make a $10,000 charitable contribution on or before January 15,2009.Green Corporation,an accrual basis corporation,made a similar pledge on the same date,and the contribution was authorized by Green's board of directors.Debbie and Green Corporation,both calendar year taxpayers,can deduct these contributions in 2008.

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Definitions:

HSA

Health Savings Account; a savings account that allows individuals to set aside money pre-tax for medical expenses.

Form 8889

The tax form used for reporting contributions, distributions, and taxes related to Health Savings Accounts (HSAs).

HSA

A Health Savings Account, a tax-advantaged account used to save for medical expenses.

Health Insurance Premiums

The amounts paid for health insurance coverage, which may be tax-deductible under certain conditions.