26 Jan 2012

Looking for 2011 Tax Relief? There's Still Time

By Rick Martin
Tips for Saving on Your Income Tax

If you're just beginning to think about your 2011 income tax return, you've got a late start - but it's still not too late to cash in on some savings.

"A lot of the deductions associated with the economic stimulus package will disappear in 2012, so if you want to take advantage of them, you've got only until Dec. 31," says Jessica James, CPA and author of Justice for None (www.AuthorJessicaJames.com), an insider look at IRS tactics in a tax fraud investigation and trial.

But, she says, there's still plenty of time for some other measures to ease your share of the tax burden. Now is also a good time to resolve to start earlier in 2012 to minimize that year's tax bill. Here are some tips for both 2011 and 2012 savings:

• Contribute to retirement accounts. If you haven't already put money into your traditional or ROTH IRA account for 2011, you've got until April 17 to do it. If you have a Keogh or SEP (Simplified Employee Pension Individual Retirement Arrangement for businesses), and you get a filing extension to Oct. 15, you've got until then to make your 2011 deposits. The maximum IRA contribution for 2011 is $5,000, or $6,000 if you're 50 or older by the end of the year. For self-employed people, the maximum for SEPs and Keoghs for 2011 is $49,000.

• Don't fear the home office deduction. In the past, many tax filers didn't claim a home office deduction because it was seen as an IRS red flag. But the requirements and forms have been clarified so people can do that properly - and not make mistakes that can lead to an audit. Also, the rules have been expanded so more people can claim the deduction. If you use a home office exclusively for business, even if you don't meet your clients there, you're eligible. For instance, a handyman who does his work other people's houses can claim the deduction if he does his paperwork at his home office. Another change is that, in the past, if you claimed 10 percent of your home as an office, that amount would not be included in the $250,000 tax-free profit from the home's sale that's allowed for an individual by the IRS. Be sure to make your claim reasonable, or it will get questioned; a $25,000 home office deduction for a business with $50,000 annual gross revenue is not reasonable.

• Maximize your Flexible Spending Account. The Health Care Act will limit the maximum you can put into these pre-tax medical expense accounts in 2013. So 2012 is the last year to use an FSA to pay for orthodontics and other large medical expenses using pre-tax earnings. A medical expense flexible spending account, or FSA, allows you to use before-tax earnings to pay for medical or health care expenses not covered by your health insurance. Assuming a 25 percent tax rate, you avoid $25 in taxes for every $100 you spend from your FSA.

• Need to sell an investment? Next year may be the time. The Tax Relief Act maintains the tax rate cap on capital gains and dividends at 15 percent through 2012. In 2013, the cap for capital gains will increase to 20 percent and for dividends, 39.6 percent. The Health Care Act also created a 3.8 percent Medicare tax on investment income, effective in 2013. Given those scheduled increases, plan to take advantage of the rates next year.

James is an author pseudonym used because she fears her novel may provoke IRS retaliation. It's a fictionalized account of her experience as a minor player swept up in an IRS probe that included anyone associated with the primary target, a corporation. She says that, though she was innocent of any wrongdoing, she was coerced into accepting a plea deal by the IRS, which was bent on amassing adjudications of guilt to justify the investigation's expense. She pled guilty to a count of falsifying a tax return and continues to work as a CPA.

About Jessica James

Jessica James is a CPA and the author of a novel, Justice for None, about her experiences as a minor target in a major federal tax fraud case.  After her ordeal, she decided to write about it as a warning to others who think they can take on the government and win.

26 Jan 2012

2012 Daddy Daughter Dance

By Kenneth Asta
daddy daughter

Friendly reminder as we are almost full... register today to reserve your spot!


Click here for more information and registration instructions.

You are personally invited to register early for our popular Daddy Daughter Dance.

We want to reserve your spot today.... What a great Gift!

Daddy Daughter Dance

An evening filled with charm, fun and dancing awaits you and your special girl at this special event. You will enjoy dancing, buffet dinner, prizes and more! "Daddy" can be an Uncle, Grandpa, or any special person. Daughters of all ages will enjoy the evening full of entertainment and take home a gift too.  *Pictures available on sight for an additional fee. This makes for a great gift.

 

Sunday, February 19th

from 5:30 pm - 8:00 pm

Event held at the River Center, Mississippi River Hall

136 E. Third, North Building, Davenport

PRE-REGISTRATION ONLY-NO TICKETS SOLD AT THE DOOR!!!

Couples will be admitted beginning at 5:30pm

FEE: $40.00 per couple

$20 for each additional child

 

Click here for more information and registration instructions.

 

26 Jan 2012

Easter talk at GAHC!

By Kelly Lao

GAHC is proud to host the talk: Easter Traditions in Germany presented by Kathlyn Hofmann on Sunday February 26, 2012 at 2pm at the German American Heritage Center, 712 W. 2nd St. Davenport, IA 52802. This presentation will acquaint you with German Easter traditions - some similar - some different from the way Easter is celebrated in the USA. 

Special highlight is a series of slides: "Osterbrunnen," elaborately decorated wells and fountains found in the Franconia area of northern Bavaria. Kathlyn lived in Germany for 27 years teaching German and ESL for the DoDEA School System. Since 2009, she has taught several beginning and intermediate German language classes at the GAHC. Free with admission.

25 Jan 2012

MOLINE FOUNDATION ANNOUNCES SCHOLARSHIP APPLICATION DEADLINE

By Linda Martin

The Moline Foundation announces February 15 as the deadline to apply for the Clem T. Hanson scholarship. Residents of Moline School District No. 40 are eligible to apply for the four year college scholarship based on scholarship, financial need and extracurricular activities. Students should contact their counseling office at Moline High School, Alleman High School or Black Hawk College for an application. The three Hanson scholarship award winners will be chosen by a local scholarship selection committee and notified of their selection by May 1, 2012. They will receive $1,500 annually for the next four years with an annual renewal based on satisfactory progress in their post-secondary education.

Since 1985, over 100 students have received the Hanson Scholarship Funds as a result of an endowment fund established through the generosity of Clem T. Hanson (1901-1985), a former Moline businessman and community leader. He was the founder of Hanson Advertising Agency in Moline and was a co-founder of HON Industries in Muscatine. Mr. Hanson also served as president of Moline Rotary in 1952 and was a volunteer for Boy Scouts, Arrowhead Ranch and United Way. The Clement T. Hanson Memorial Scholarship Fund was established with the Moline Foundation by his family, following the death of Mr. Hanson on July 17, 1985.

The Moline Foundation, founded in 1953, is a community foundation which provides grants to health, human services, education, community development, the arts and other charitable organizations which benefit the citizens of Moline and the surrounding area. For more information, contact Joy Boruff, Executive Director, at (309) 736-3800. The Moline Foundation receives and administers charitable gifts and has assets of approximately $16 million.

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25 Jan 2012

Opera in Davenport!

By Kelly Lao

Davenport- The German American Heritage Center and SAU Music Dept. are proud to present The Des Moines Metro Opera's 2 hour performance in English of Mozart's The Magic Flute on Tuesday February 7th at 7pm at the Rogalski Center at Saint Ambrose University, located at 518 West Locust St. Davenport, IA.

Mozart's delightful commentary on love, forgiveness, tolerance and the brotherhood of mankind has become one of the most beloved operas in all the repertory. Filled with star-studded queens, dragons, bird-catchers, heroes and heroines and noble priests, The Magic Flute is a spectacular potpourri of worldly and heavenly delights all set with sublime enchantment to some of Mozart's greatest music! One of our most popular shows, The Magic Flute returns to OPERA Iowa after an absence of ten years and is the perfect opera to delight and dazzle audiences of all ages. Sung in English with piano accompaniment. Show lasts approximately 2 hours.

Tickets are $15 for General Admission, $25 for Premium seating, and free for students with I.D. Tickets are available at the German American Heritage Center at 563-322-8844 and at 712 West Second St. Davenport, IA. Visit our website www.gahc.org for more information. This event is made possible by the Riverboat Development Authority.
25 Jan 2012

Chris Koza headlines Cool Beanz Coffeehouse

By Youa Vang
Minneapolis indie-rock artist, Chris Koza is headlining Cool Beanz Coffeehouse on Wednesday, February 15, 2012.  Heading out on the road, Chris will be performing pieces from his solo endeavors The Dark Delirious Morning, A Friend of a Friend, Patterns, and Exit Pesce, which you can stream here: www.chriskoza.com/discography

Chris will also perform selections from his band, Rogue Valley. The group wrote, recorded and released a four album project depicting the seasons (I. Crater Lake, II. The Bookseller's House, III. Geese in the Flyway and IV. False Floors) in one year.  www.lostinroguevalley.com

Chris Koza performs as both a solo artist, as part of ensemble shows, and primarily with his band Rogue Valley.  His song-writing carries a strong emphasis on the lyrical and poetic elements, with styling and textures rooted in folk and Americana traditions.  It is impossible to ignore his influences through a classic and contemporary pop music lineage including the likes of The Zombies, The Beatles, Bob Dylan, Velvet Underground, Tom Waits, Jackson Browne, Greg Brown, Elliot Smith, Ryan Adams, Brendon Benson, and Fleet Foxes, to name a few.

Rogue Valley is a band born of grandiose ambition: in a single year, they have written, recorded, and successfully released four full length albums, each one sonically steeped in the season of its creation. Together, the four albums tell a sweeping story of love, loss, regret and hope that is inseparable from the geography of classic American wanderlust. The 46 songs act as chapters, standing strongly on their own, yet creating an undeniably rich experience when taken as a whole. Few bands are so productive in an entire career, yet Rogue Valley and songwriter Chris Koza have realized a breadth of ambition that is beyond simple prolificacy - the entire series stands out for its dynamism, craft, impeccable production and fantastic songwriting.

Wednesday, February 15, 2012 - Rock Island, IL

Cool Beanz Coffeehouse

1325 30th Street

Rock Island, IL 61201

AA, Free, 7 pm

309-558-0909

25 Jan 2012

Harkin, HELP Committee to Discuss Middle Class in Quad Cities

By Sen. Tom Harkin

Congressman Loebsack, area residents, others to testify

WASHINGTON, D.C.–On Friday, January 27, Senator Tom Harkin (D-IA), Chairman of the Senate Health, Education, Labor and Pensions Committee, will convene a field hearing of the Committee to discuss ways to rebuild the middle class.  Congressman Dave Loebsack will join Harkin as part of the hearing.

"For decades, the middle class has been  falling behind," said Harkin.  "Wages have not kept up with costs, and families' savings accounts have dried up along with home values and good jobs. Iowans are justifiably worried about the future.

"It does not have to be this way.  It is time to rise to these challenges and face them head-on, as a nation, by remembering what made our country great. Creating good jobs, investing in education, rebuilding our infrastructure, and preparing our workforce for the 21st Century will help to ensure that the middle class has a bright future ahead, in Iowa and around the country."

Harkin has held a series of hearings in Washington over the past year examining the causes behind the decline of America's middle class.  Last year, Harkin staff members visited all 99 counties to gather insight into the challenges facing middle class families.  This field hearing will focus on what is working in the Quad Cities to rebuild the backbone of America's economy.

HEARING: "Rebuilding the Middle Class: What Washington can learn from Iowa"

WITNESSES:
Panel I
Hon. Dave Loebsack, United States Congressman, Second Congressional District, Iowa
Panel II
Bob Allbee, Interim President, Muscatine Community College, Muscatine, IA
Skip McGill, President, United Steel Workers Local 105, Bettendorf, IA
Robert J. Fox, a Davenport resident working to maintain a middle class lifestyle for his family

DATE: Friday, January 27, 2012

TIME:

12:15 PM: Tour: Prior to the hearing, Harkin and Loebsack will tour the welding room at the Blong Center, which houses a partnership between John Deere, the local schools, and workers.

1:15 PM: Hearing begins

PLACE: John T. Blong Tech Center?, 8500 Hillandale Road, Davenport

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25 Jan 2012

TOMORROW: Braley Travels to Eastern Iowa Colleges to Host Campus Forums

By Jeff Giertz

TOMORROW: Braley Travels to Eastern Iowa Colleges to Host Campus Forums

Braley to hear about college affordability, student debt, employability in open discussions

 

Washington, DC - Beginning tomorrow, Thursday January 26th, Rep. Bruce Braley (IA-01) will embark on a two-day tour of eastern Iowa colleges and universities to host a series of open forums on the state of higher education.

 

Braley will moderate an open discussion with students, faculty, and administrators from local campuses to focus on college affordability, student financial aid, employability after graduation, and more.

 

"From affordability to mountains of student loan debt, there are unprecedented challenges facing students who want to pursue a college education," Braley said.  "I'm traveling across eastern Iowa to listen to students and educators about these challenges and to hear their suggestions for how to address them."

 

The events are free and open to local students and the public.

 

TOMORROW, Thursday January 26th, 2012

 

10:00am               Quad Cities Campus Forum

St. Ambrose University

Rogalski Center

518 West Locust St.

Davenport, Iowa

 

1:00pm                 Cedar Rapids Campus Forum

Coe College

Clark Alumni House

200 College Dr. NE

Cedar Rapids, Iowa

 

Friday January 27th, 2012

 

1:00pm                 Cedar Valley Campus Forum

University of Northern Iowa

Maucker Union, Room 109

Cedar Falls, Iowa

 

4:15pm                 Grinnell Campus Forum

Grinnell College

Rosenfeld Center, Room 101

1127 Park St.

Grinnell, Iowa

 

# # #

25 Jan 2012

Braley, Loebsack Discuss Key Flood Recovery Issues with President Obama

By Randy Stalsberg

Eastern Iowa lawmakers reiterate importance of continued support 

Washington, D.C. - Congressmen Bruce Braley and Dave Loebsack today spoke with President Obama about the importance of continued support to ensure Cedar Rapids, and all communities affected by the Floods of 2008, fully recover.  Following the floods, the Congressmen worked on a bipartisan basis with the entire Iowa delegation to secure disaster assistance to start the rebuilding process.  During their meeting with the President, Loebsack and Braley discussed the challenges many families, businesses and communities are still facing.

"Four years later, Cedar Rapids is still recovering from some of the worst flooding in Iowa history," said Braley.  "That's why Congressman Loebsack and I made sure to discuss with President Obama the challenges the people of Cedar Rapids are still facing, and urged him to ensure FEMA expedites the approval of projects to help rebuild and prevent future disasters."

"As the recovery from the Floods of 2008 continues, it is as important as ever that we don't lose sight of the needs of the families, businesses and communities that were so badly damaged," said Loebsack.  "The flood struck right at the beginning of the current economic downturn, making a bad situation even worse.  When I spoke with the President, I stressed the need for continued support in order for Iowa to rebuild stronger and more resilient than before."

# # #
25 Jan 2012

IFAA Offers Iowa Youth $97,000 in Scholarships

By Harold Hodson

News from Iowa State Fair

DES MOINES, IA (01/25/2012)(readMedia)-- College-bound Iowa youth active in 4-H and/or FFA livestock projects and current undergraduate students may apply for $97,000 in scholarships available from the Iowa Foundation for Agricultural Advancement (IFAA).

The scholarships are available to freshmen entering any Iowa two- or four-year post-secondary institution this fall or current undergraduates attending Iowa State University. Applicants must major in animal science or a curriculum in agriculture or human sciences that is related to the animal industry, according to IFAA spokesman Harold Hodson. The awards include :

• Three $5,500 one-year scholarships

• Four $5,000 one-year scholarships

• One $4,000 one-year scholarship

• One $3,000 one-year scholarship

• Thirteen $2,000 one-year scholarships

• Six $1,500 one-year scholarships

• Sixteen $1,000 one-year scholarships

• Five $500 one-year scholarships

Applications and additional information are available by visiting the Sale of Champions section of the Iowa State Fair's web site (http://www.iowastatefair.org/competition/sale-of-champions/winners-circle-scholarships/) or by calling 515/291-3941. Selection will be based on level of 4-H/FFA involvement in livestock project work, livestock exhibition and/or judging, scholarship, leadership and career plans. Applications for current undergraduate students must be postmarked by April 1, 2012 and applications for incoming freshmen must be postmarked by May 1, 2012. All materials should be sent to Winner's Circle Scholarship, c/o SGI, 30805 595th Avenue, Cambridge, IA 50046.

Winners will be announced during the 2012 Iowa State Fair annual 4-H/FFA Sale of Champions on August 18, an event sponsored by IFAA. The IFAA is a non-profit organization founded in 1988. It is comprised of agricultural enthusiasts dedicated to encouraging 4-H and FFA livestock, poultry and agricultural project members to pursue ag-related careers. IFAA scholarship funds come from a percentage of Sale of Champions proceeds, as well as Winner's Circle Club donations.

"Nothing Compares" to the 2012 Iowa State Fair, August 9-19. For more information, call 800/545-FAIR or visit www.iowastatefair.org.

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