Some tax cuts not well known Next week’s election is one of the more important elections that we have had recently. I won’t over-dramatize the situation, but this election may mean much to you and me in a variety of matters. Since I’m a tax person, I will concentrate on just the potential tax consequences of the election. I say “potential” because no matter who gets elected next Tuesday, Congress has to be prepared to either extend or not to extend the many tax breaks lumped under the title known as the “Bush Tax Cuts.” As of this December 31, most of the income tax breaks that we have come to enjoy will disappear. Congress can choose to extend all of the cuts or they can pick and choose which ones to modify or extend. Here are some of tax cuts I sincerely hope they extend, because these particular tax cuts affect not just the taxpayers earning more than $200,000 but every taxpayer who pays income tax. I have written previously about some of the more prominent Bush Tax Cuts such as the Alternative Minimum Tax and Capital Gains, but I would like to point out some of the ones that are not as well-known that nevertheless will have an effect on many taxpayers. In fact, these provisions are quite important to all taxpayers, but they have gotten practically zero publicity. First, under the Bush Tax Cuts, for taxpayers in the 10%, 15% and 25% tax brackets, there is no penalty for filing as married-joint as opposed to filing single. The married-filing-joint tax rates were exactly twice the single. For example, two single taxpayers with total incomes of $50,000 would pay exactly the same tax that two married-joint taxpayers earning $50,000 would pay. There is no incentive to file single or disincentive to be filing joint. There is no marriage penalty. If we go back to the pre-Bush Tax Cut days, there was a drastic marriage penalty that started in the 15% tax bracket and continued upward throughout the higher brackets. In addition, there was no 10% tax bracket. Without some adjusting of the tax brackets, all jointly filing taxpayers will pay more tax than two single taxpayers with the same income. The marriage penalty will […]
October 28 2010
30th Jeff Spoelma, Gene VanPutton, David Zapf 31st Fred Bartlett, Evelyn Brink, Audery Heintz, Judy Johnson, Eric Karloski, Gene VanPutten NOVEMBER 1st Pat DeGlopper-Mull, Amanda (Welch) Phipps, Nancy Simonis, Craig Williams 2nd Dennis Bandemer, Bob Clawson, Julia Laage 3rd Isabela Moyer, Royce Newman, Louise Nicewander, Kate Sickrey 4th Nicole Huber, Jorge Rodriguez, Karen TerKeurst
Noonan Aleta Clara Noonan, 98, formerly Aleta Stegenga, of Rockford and Traverse City, passed away peacefully on October 17, 2010. Aleta was born March 2, 1912, in Kent County, Mich. She was seven weeks old when her father, Albert Hoffmeyer, died, leaving her mother, Rose, to raise three children. Eight years later, Rose married Edward White, who was a great father to Aleta. In 1932, Aleta married Victor John Stegenga and they moved from Sparta to Rockford, where they raised their three children: Fred, Jack and Sharon. Aleta was always a proud homemaker and loved her family dearly. She was a member of the First Congregational Church for over 60 years. She was active in many women’s groups, including the Friendship Guild, Women’s Fellowship, Rockford Garden Club, Eastern Star, and the Stitch and Chatter Club, a group of her very dear and close friends. For several years, she and Vic were foster parents, giving little children a temporary home. Early retirement years were spent wintering in Florida, and sharing good times with her sister Hilda and husband, and her stepbrother Richard White and wife. In later years, she volunteered at Butterworth Hospital in Grand Rapids. Four years after Vic’s passing in 1975, Aleta married Guy T. Noonan of Glen Falls, N.Y. They were married for 17 years. They enjoyed their winters in Florida and summers in Rockford. Aleta is survived by her son, Fred (Ingrid) Stegenga of Yelm, Wash., and her daughter, Sharon (Henry) Finch of Traverse City. Jack, whom she dearly missed, passed away in October 2008. Also surviving are her stepbrother Richard (Gladys) White of Saginaw; seven grandchildren, Jim and Kris/Lily, Ty and Kamie, Molly, Allison and Spencer; and nine great-grandchildren, Shamane, Kelsey, Dalton, Edward, Owen, AJ, Charlie, Evan and Spencer. A private memorial service for family and close friends will be held at a later date in Rockford. Memorials may be directed to the First Congregational Church, 6105 Center Road, Traverse City, MI 49686, or to Munson Home Hospice & Palliative Care, 550 Munson Ave., Traverse City, MI 49684.
More input on mystery balls Dear Editor, I don’t know if this story has brought any further information, but my mother-in-law saw these floating balls the same night in Rockford. She took pictures and asked me to come over to check them out. She was pretty freaked also. In talking with some friends, I brought these fireballs up. They knew exactly what I was talking about. While camping in Grand Haven this summer, they witnessed these as well. They found where they were coming from along the beach. Apparently, they are plastic grocery bags that have been filled with a special kind of gas, lit on fire on the inside, tied, and then let go to float up in the air—all just for fun. Hope this helps! Lauren Hughes via e-mail Fan loved ballpark experience Dear Editor, As a 1973 RHS Alumni, I had not been to a football game in years (my boys graduated in 98 and 01). I thought the game at the Whitecaps sounded like fun and am so glad I decided to go. The football team looked great, the band looked great, but most of all, I enjoyed the drive back to Rock ford with two solid lanes of traffic in front and back of me all the way (it made me feel like what a community!). Parking – $5; ticket – $7; feeling like part of the community – priceless. I may even start going to homecoming games again this year. Ruth Reickard Rockford Alumni
Leaders of the Rockford Rotary Club are excited to announce the kickoff of this year’s fruit and nut sale. For over 30 years, area residents have looked forward to the club’s annual sale of fresh-picked, tree-ripened Indian River oranges and grapefruit. Delivery this year will be December 6. Rotary members are now contacting friends and neighbors for orders. Each year the fruit is eagerly anticipated as it offers a sweetness and freshness that can’t be found in the normal market. Fruit is picked and sorted in Florida on the weekend, shipped on Sunday, and delivered Monday and Tuesday. In addition to fruit options, Rotarians have been offering fresh-roasted cashews for several years. All these products bring a special sense of holiday anticipation to homes and make wonderful seasonal gifts. If you haven’t purchased fruit or nuts before, you are encouraged to contact a Rotarian or send your order to Rockford Rotary, Box 492, Rockford, MI 49341. Prices and quantities are as follows: • 4/5 bushel (approx. 64 oranges), $27 • 4/5 bushel (approx. 32 grapefruit), $27 • 4/5 bushel mixed fruit (half order of each), $27 • 2/5 bushel any combination of above, $20 • 1/5 bushel any combination of above, $14 • 1 pound of fresh roasted cashews, $12.50 Payment is due on delivery, so include your name, address and phone number. Deadline for orders is November 16.