Jerry Coon, Enrolled Agent Charitable contributions As we near the end of the year, in addition to the festivities associated with the Christmas holiday, tax professionals across these United States of America are doing their best to get the word out to their clients and the tax-paying public that December 31, 2009 is, for the most part, the cut-off date to make changes that will affect the 2009 tax return. Last week I discussed the Roth IRA conversion issue. This conversion must take place by December 31 to be considered a part of the 2009 tax return. In a previous week, I discussed the sales tax deduction available for purchasing a new vehicle. This vehicle must be purchased by December 31 to get that sales tax deduction on this year’s tax return. For taxpayers who are paying real estate property taxes, the treasurer of the collecting agency must stamp the property taxes as paid in 2009 for them to be deductible on the 2009 tax return. I bring that up because not all township offices are open daily. Don’t wait until 5 p.m. on December 31 to drop off a check at the township office and expect it to be stamped as received on December 31, especially if the office closes at noon. Don’t mail a check on December 31, expect it to be delivered on January 4 and still be marked as paid as of December 31 just because it has a December 31 postmark. As a courtesy, in both of these scenarios, the treasurer may stamp it as paid in 2009 because it was in the drop-off box before midnight or was mailed before January 1, but why depend upon the treasurer’s courtesy for a deduction? Take the time to bring the payment into the office during regular business hours and get the receipt stamped or mail the check so it is received at the offices before the end of the year. Last year, I discussed that strange court case in Texas concerning charitable contributions. A couple’s return was audited for charitable contributions and the deductions were disallowed even though the couple had checks to prove every cent of their deduction. The one piece of information they were missing at the audit was […]
The Rockford Chamber of Commerce (RCC) is currently accepting nominations for their Business of Distinction awards. The nomination process is open to the community to give everyone the opportunity to nominate and honor the RCC area businesses. The RCC serves the City of Rockford and Algoma, Cannon, Courtland and Plainfield townships. Nominations are being accepted through December 30, 2009. RCC member businesses are listed on www.rockfordmichamber.com in the Membership Directory. Awards will be given out in the following categories: Business of the Year, Retail, Service, Construction, Manufacturing, and New Business. Business of the Year 2008 award winner John Decker of John Decker Chevrolet said, “To be the recipient of the Rockford Chamber of Commerce’s Business of the Year award last year was probably the most important award I have ever received. On top of that, to be nominated by my business peers was quite an honor.” The nomination form and award descriptions are available at www.rockfordmichamber.com/events. The awards will be given out at the RCC annual meeting, which will be held on Friday, Jan. 29, 2010, at Wolverine World Wide Inc. corporate headquarters. The mission of the Rockford Chamber of Commerce is to proudly promote business, tourism and community in the greater Rockford area.
Meechum among new Rockford Rotarians Rob Meechum remembers playing in Rockford’s Rotary Park (off Fremont Street) as a boy, but didn’t know anything about the organization. Now he is among several new members inducted into the service club recently. As an adult, the lifetime Rockford resident wanted to find a way to be more involved with the community. He decided to look into the Rotary Club. “I had no idea Rotary was an international organization. I had no idea the role it plays in providing safe water around the world,” he said. Meechum said Neil Blakeslee (long-time Rotarian) pulled him aside and told him if he was there to improve his business, he was there for the wrong reason. “I joined because I wanted to do more for the community, but I realize it’s bigger than that,” Meechum said. “Once people find out what it is all about, more people are going to want to become involved. I believe there are lots of people looking to give more than what they are doing. Rockford Rotary is a great opportunity for that.” Rockford Rotary Club meets Tuesdays at noon at the Rockford Community Cabin, 220 N. Monroe St. It is part of Rotary International, a worldwide service organization. Professionals are invited to be guests and find out more about the organization.
BADGES EARNED—Brownie Troop 3551 from Crestwood Elementary School earns “make-it, eat-it” badges at Blythefield Country Club with Chef Jeff Hiler. The girls made caramel apples and pizza. Pictured are (front, l–r) Claire Froumis, Sydney McCreery, Anna Hodsdon, Sophia Stauffer, Dana Brouse; (back) Lauren Kostus, Rachel Gamm, Sydney Reinke, Regan Dalton, Ashlee Wheaton, Baylie Jenkins, and Nicole Alexander.