PAGE 8 NEIGHBORS NEWSPAPER FEBRUARY 2010
Happy New Year!!!! It’s Tax Time
By Lee McCollum you were unemployed during 2009, the
your company offers these plans, take full
Yes, it is tax time. A beautiful time of first $2,400 of unemployment compensa-
advantage to reduce your taxable income.
the year for those of us who love crunch- tion is excluded from your income.
If you have a large refund, don’t give
ing the numbers, giving tax advice, and • The American Opportunity Credit
the Federal Government a tax free loan,
of course preparing Tax Returns. There modifies the existing Hope Credit for tax
increase your allowances and take more
are plenty of reasons for you to be happy years 2009 and 2010 making the credit
money home each pay period. It’s your
about tax season this year because the available to a broader range of taxpayers.
money! Why would you let the govern-
government is offering several tax credits If you are a student, make sure to ask your
ment use your money all year and give
and favorable tax changes to help ease our preparer for the maximum credit possible.
it back to you at tax time, interest free?
tax burden, but living in California is also • 2009 New Car Tax Credit for cars
Use more of your refund dollars toward
a reason to be not so happy. purchased between February 17, 2009
your retirement plans and children’s col-
and December 31, 2009. The credit is lege education savings. The right mix
Happiness is the tax changes that may limited to the taxes on vehicles with a
may reduce your taxable income, increase
benefit you, such as: purchase price up to $49,500.You will be
your retirement savings, and still give you
• The Homebuyer’s Credit has been able to take this credit whether you use
about the same “take home” pay each pay
extended and now includes current hom- itemized deductions or standard deduc-
period.
eowners. First time homebuyers can re- tions. This credit will begin to phase out
ceive up to $8,000 and Move-up/Repeat at $125,000 of income for individuals and
Happy Tax Season to all, and to
Lee McCollum homebuyers can receive up to $6,500. $250,000 for joint filers. all many Happy Refunds.
• Unemployment Compensation: If • Residential Energy Efficiency cred-
its are available if you improved your *Lee McCollum is a Registered Tax Pre-
home with windows, doors, water heat- parer in Temecula, CA. You may contact
ers, roofs, heating and air conditioning, him at (951) 719-3840 or email him at
and insulations just to name a few.
McCollumL@hdvest.net. He is accepting
• Making Work Pay Credit for indi- new clients.
viduals up to $400.00 and for working
married couples, up to $800.00.
• The definition of a Qualifying Child
has been expanded so that more people
will qualify for dependent exemptions
Integrity
and credits. PUBLIC INVITED
• The Additional Child Tax Credit
Affordability
income thresholds have been lowered to
TO OPEN
qualify for additional child tax credits.
Guaranteed Results
• Earned Income Credit will now
REHEARSAL
qualify up to three children in 2009.
Saturday, February 6
make the right move
Now, the bad news. Happiness is not 2:30 p.m. to 5:00 p.m.
living as residents of California this year.
The state of California has reduced the
Have you ever wondered how profes-
dependent exemption from $309 per de-
sional musicians put together a concert?
pendent in 2008, to $98 (Ouch!!!) per de-
What’s the role of a conductor in shaping
pendent in 2009. Be prepared to receive
the performance? How do musicians col-
Solutions for Small Business
a smaller refund or pay taxes to our great
laborate to create great music? How do
state this year.
music, lighting, sound, and staging come
Make sure you are getting the maxi-
together?
C R E AT I V E S O L U T I O N S T O C O M P L E X P R O B L E M S
mum refund this year by taking advantage
To answer these questions, the Gold-
Did you know the U.S.Department of Labor defines small business as
of ALL tax credits and tax law changes
en Valley music society presents an open
“500 or less employees”? Whether you’re a big small or a little small,
available to you. If your tax person does
rehearsal of the California Chamber Or-
making the right move is critical.
not discuss these tax benefits with you,
chestra on Saturday afternoon, February
ask them or find another tax person who
6 at 2:30. The orchestra will be rehearsing
Spickler & Associates has worked with Fortune 500 companies
will make sure you get the maximum re-
for that evening’s concert. Attendees will
to very small businesses.
fund or lowest tax bill. Tax software pro-
have the opportunity to watch and listen
grams are designed to help you get maxi-
as Artistic Director Warren Gref rehearses
• Business Startup and Formation • Capital Buying and Decision Models
mum refunds. If you are using a program
the orchestra, soloists, and singers. In ad-
• Business Planning • Strategic Planing
such as Turbo Tax and you are unsure if
dition to the California Chamber Orches-
• Brand and Market Development • E-Commerce/Ebay you qualify for a credit, give them a call
tra, the program features the Temecula
• Human Resources • Retail Optimization or talk with a local preparer* who may be
Valley Master Chorale and the Murrieta
able to help you.
Valley High School Women’s Chorus.
If you have a large tax bill, ask your
The program is free and includes
SPICKLER &
preparer to help you reduce your federal
the Faure Requiem, and Four Songs for
and state allowances so that more taxes
Women’s Chorus, 2 Horns, and Harp by
ASSOCIATES
are taken out of your paycheck. You may
Brahms. Tickets for the evening concert
need to consider other tax strategies to
are available at the box office, by calling
C O N S U L T I N G
help reduce your taxable income. In-
866-653-0696, or at www.temeculathe-
creasing contributions to your 401-K or
ater.org. The concert begins at 7:30 in the
Geoffrey S. Spickler
similar retirement plan can reduce tax-
Old Town Temecula Community Theater,
951.816.9628 •
Gspickler@gmail.com
able income as well as using a Flexible
42051 Main Street, Temecula, CA.
Contact us today to learn more about our services 951.816.9628
Spending or Dependent Care account. If
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