12/06/2004

Do we want a dropping dollar?

Hello:

Conflicting commentaries are being written regarding the dropping value of the US dollar exchange rates vs. international currencies. It is our opinion that a gradually dropping dollar will possibly benefit the domestic economy by helping to improve the manufacturing sector, the tourism sector as well as other portions of the economy. What we would prefer to not see is a rapidly dropping dollar.

The American Jobs Creation Act of 2004, signed into law in October, appears to change the deductability of a donated vehicle as of January 1, 2005. Consider advising your donors to consult with their tax preparer now as to whether it would be more advantageous for them to donate their automobile, boat or airplane in 2004 or in 2005.

Terri G. Millson, CIMC President

Ray Dicius, GEPC LPL Branch Manager