Pelham-Windham News 2-26-2010

Pelham - Windham News
10 - February 26, 2010
nullindham nullhools Rank Above
heat
food/
clothing
Maintaining Your
entertainment
Average in Regional Assessment nullesting
savings
taxes
Piece of the Pie by Barbara O’Brien Another segment of nullnullAP testing is the from one year to the nenull. A difference of one
shelter
Each autumn, students attending assessment of Adenullate nullearly Progress (Anull) to three percent is not signinullant and can be
grades three through eight in public made by indinulldual schools. Anull targets are attributed to tnullo or three children monullng in
401K or IRA?
schools throughout the sinullnullnullEngland set on an annual basis by the nullited States or monullng out of the school district, hanullng a
W.F.Boutin EA – Total Tax Solutions LLC
states participate in the nullnullEngland nullpartment of Education under null nullild nullft bad testing day, or missing one nullestion. A
nullmprehensinulle Assessment Program, more nullhind legislation. Adenullate nullearly Progress is difference of four to nulle percent, honullnuller,
Last week we discussed the beneﬁts of deferred compensation plans commonly referred to as nullEnullAP.null nullhis based on prenulletermined indenullscores, nullhich can be more indicatinulle of curriculum andnullr
such as the 401K. We saw how it affects the income tax return by
assessment randomly selects and tests items increase annually. nullilson said it becomes instruction differences, student motinullation nullth
lowering AGI and taxable income. Matching contributions from an
that are included in gradenullenullel enullectations increasingly difnullult each subsenullent year to the test or specinull test nullestions, and should
employer increases the value of such a plan. Other beneﬁts of the
in the areas of reading, language arts, meet these indenullscores, nullhich, ultimately, be further renullenulld for the cause, nullilson said.
401K, not previously mentioned, are the higher contribution caps as
mathematics, and nulliting. enullect all schools to achienulle an indenullscore As all nullnullAP tests are administered each
opposed to an IRA, $16,500 for 2009 and an additional $5500 as a
Assistant Superintendent Ronullnne nullilson of nullnull As the indenullsystem is currently nulltober, the results represent the performance
catch-up amount for taxpayers over 50, (these totals do not include
employer contribution.); some employer 401K plans allow for qualiﬁed
recently presented the results of nullnullAP testing formulated, schools are enullected to reach an of students at the prenullous grade lenullel.
loans which are not taxable (if you should leave the company’s employ
done this past nulltober in the nullindham School indenullscore of nullnullby the nullnullnullnullnullschool nullor enullmple, fourthnullrade scores actually
before the loan is repaid it can become an early distribution, fully
nullstrict to School nullard members. nullindham year. nullor the current school year, the indenull represent honullnullll students learned thirdnull
taxable with penalties). Some issues that may be considered a negative
continues to hold steady nullth an anullerage of score is set for all schools at null for reading and grade content the prenullous school year.
are 401K plans only allow distributions in the case of hardship or after
nullnullercent higher pronulliency than the State null for math. nullen asnulld honullbest to help the students
age 59 1/2. The penalty on an early distribution is not wavered for anullerage in both reading and math, nullilson Schools that do not meet the renullired indenull nullho are achienullng the enullected lenullel of
education expenses or ﬁrst time home purchases as they would with a said. score each year are listed as nullchools in nulled pronulliency, nullilson said a philosophy of
traditional IRA. The 401K is not very “liquid” when funds are required.
According to the graph, nullhich nullas of nullpronullement.null Presently, nullindham nullnter nulleach and renulleachnullis being employed.
Taxpayers who do not wish to “place all of their eggs in one basket”
presented by nullilson, nullindham students School is the only school in the district that is Appronullmately null to null students per grade
may want to consider the possibility of contributing to both a 401K
in grades three through eight achienulled an designated as a school in need of impronullement lenullel are falling into this category. nulle need
plan and an IRA.
nullnullercent pronullient score in reading, as (in the area of reading, specinullally). nullhe to enullaluate honullthese subnullroups are doing
An IRA has contribution limits of $5000 for 2009 with a catch-up
compared to the onullerall State performance of problem, according to nullilson, is that there year to year,nullshe said.
amount of an additional $1000 for taxpayers 50 or older. Contribution
amounts are limited to earned income. Loans are not permitted on IRA
nullnullercent pronulliency in reading. null the area are some students (subnullroups), such as those School Superintendent nullrannullnullss sent a
plans. They are more “liquid” because amounts can be withdrawn at
of mathematics, nullindham students achienulled a enrolled in Special Education programs or nullho message to students and their parents. nullhe
any time, however distributions from a Traditional IRA will be fully
pronullient rating of null percent in math, nullhile are on nulldinulldual Education Plans (nullPs), nullho single best thing you can do to impronulle test
taxable, unless the IRA contains non-deductible contributions. These
the State anullerage nullas rannulld at nullnullercent are not meeting the minimum nullnullAP indenull scores is to read,nullnullss said. nullou hanulle to read
distributions will increase the AGI, taxable income and possibly the tax
pronulliency in mathematics. score and are, therefore, lonullring the onullerall during your free time at home. nullm talnullng nullst
bracket on the tax return. Unless an exception to the penalty applies, nulltnullen nullnull and nullnull, nullindham score for an entire school. an hour of reading enullery night at home.null
such as distributions for ﬁrst-home purchases or education expenses, a students increased their percent of pronulliency nullilson said that nullhen nullnullAP testing nullas After listening to nullss’ recommendation,
10% penalty is also imposed on the early withdrawal (the same as with
in reading by three percent, nullhile the initiated, results of the nullst year shonulld that School nullard member nulleff nullstic said, nullust to
a 401K).
pronulliency lenullel in math stayed the same. null schools statenullde nullre considered to be clarify nullhat null. nullss said about reading enullery
When discussing IRA plans we need to distinguish between the
nullring this same period of time, students schools in need of impronullement. nullust a fenull night on your onull timenullenulling is not reading
Traditional and the Roth.
statenullde increased their scores in reading and years later, as the minimum renullired indenull or nullitingnull
Contributions can be made to both plans in the same year, but the total
in math by tnullo percent in each of these tnullo scores hanulle risen annually, the number of nullindham nullgh School students nullll begin
amount contributed cannot exceed the contribution limit or earned
areas of the curriculum. schools listed as nulleeding impronullementnullhas participating in nullnullAP testing nenull year,
income for the year. Contributions to a Traditional IRA may be
deductible on the income tax return. Whether it is deductible depends
nullen School nullard members nullestioned gone up to nullnullfacilities statenullde. At this nullhen the nenullhigh school has a nullnior class
upon income, ﬁling status and if you are already a participant in an
the importance of any results achienulled on rate, nullilson said, nullnullentually, enullery school in in attendance. nullrrently, there are only
employer’s retirement plan.
nullnullAP tests, nullilson enulllained that it does nullnullnullmpshire nullll be a nullchool in nulled of freshmen and sophomores attending nullindham
All individuals can always contribute the maximum limit to a
become a part of a student’s ofnullial transcript. nullpronullement.’null nullgh. nulluniors and seniors continue to attend
Traditional IRA, providing the earned income rule is met; but if it is not
nullolleges do loonullat the results,null ilson said. nullhe best nullay to renullenullnullnullAP results, classes at Salem nullgh School under a tuition
deductible in full on the tax return, taxpayers must keep track of their School nullard members said it seems to be nullilson enulllained, is to follonullchildren’s agreement nullth that tonull.
basis (non-deductible) portion, since it will not be taxable when difnullult to motinullate students to try their best progress from grade to grade. nullhis nullll shonull
distributions are taken (Form 8606 is used to keep track of these after
on these tests. honullstable a particular group of students is
tax contributions).
Contributions to a Traditional IRA can be made for the current tax
year up to the due date of the income tax return. This is an important
Pnullnulls nullt nullalent
tool for taxpayers who owe additional tax on their return. They have
the ability to contribute to an IRA and lower their taxable income or
submitted by
tax bracket for the preceding year, providing it is deductible.
Presentation of nullry Anullademy
Distributions from a Traditional IRA are fully taxable on the income tax
nullhe nullst graders at Presentation of Mary
return. Contributions to a Roth IRA are never deductible. Contributions Academy in nulldson proudly performed
to a Roth IRA may also be limited based upon your income, ﬁling a talent shonullin front of an audience of
status and if you contribute to another IRA. With a Roth IRA, a
their peers, parents, grandparents, and
distribution of the contribution amount is never taxable. The earnings
some of the sisters nullho reside at PMA.
may be taxable if certain criteria are not met. This makes the Roth IRA
nullhe students had all nullnds of talents and
a very attractive tool in ﬁnancial planning. It may not be deductible,
shonulld a great deal of creatinullty. nullhere
but is very “liquid” for emergency purposes without affecting the tax
nullre classic dancers, as nullll as a team of
return income totals. Next Week: The Value of Fringe Beneﬁts (Part 2)
Have a tax question? E-mail taxquest@totaltxsolutions.com
some of the best breanullancers enuller seen at
the Academy. A great nullariety of talent made
for a funnulllled shonullnullth singers, special
basnulltball and soccer monulles demonstrated,
and thrilling gymnastics that nullould certainly
nulln a gold medal. Some of the rising stars
brought laughter to the room nullth their
nullnullnullelling and comedy snullts. nullhis nulle
young group of entertainers certainly added
a special treat during the man
Diamond Dreams Comedy Fundraiser
y celebrations
that toonullplace during nulltholic Schools Pnull nullalent Shonullnullreakdancers Christopher nullan nullattanullnullathin Carnullnneaunulland Collin nullonnellnull
nulleenull
nullund Enullinullent nullnated to New nullgh nullhool
by Barbar
Sat., Ma
a O’Brien
r. 20
nullindham Endonullent sponullsperson nullane School nullard members accepted the
nullhrough the generosity of area donors,
6:30-11:00
nullrpenter presented a donation of null,nullnull donation from nullindham Endonullent, nullth
as nullll as the dedication of the members of to purchase eight additional soundnullac sincere gratitude, by a nullote of nullto null All
the Kings Courtnullindham Endonullent for nullmmunity
Joey Carroll Jeanne Sullivan-T
channels, plus a recei
oomey Dave Decker
nuller. nullrpenter said
Alana Susko
nulloting in fanullor of the gift nullre nullairman
Ad222 Central St., Hudsonnullancement, another signinullant gift has the enullipment nullll be used mostly for plays nulluce Anderson, nullce nullairman Minull
been ginullen to nullindham nullgh Sc
Benefitting Hudson Heat 14U Softball
hoolnulla at the high school, but can also be used for nulltem, nulleff nullstic, Ednullard Gallagher, and
facility that opened to students this past any type of presentation, including public nullphne nullenyon.
as they participate in the Diamond Dreams National Invitational
September.
and are enshrined in the National Y
meetings.
outh Softball Hall of Fame
null nulleping nullth the signinullance of this
nullrrently, nullindham Endonullent Prior to the donation, the high school had pronullct, the nullindham Endonullent for
members are conducting the nullpital Comedy Show~Dinner~Heasinullsoundnullac cds& Tahannels. ils~Rnullaﬄith the donation e~ Silent Auctinullmmunity on Adnullancement is raising funds
nullmpaign for the nulline TArts, a pronullct that ickets $20 contact Mimi 882-1618 or yarimim@gmail.comof eight more additional soundnullacs, the through the nullnull school year to include
has already begun reaping benenulls for school has the full complement (null) of nullhat facilities and enullipment beyond those
nullindham nullgh School students. nullring is needed to achienulle the best sound nullality supplied by the school bond. nullheir focus is
the nullebruary null school board meeting, and resolution. on three main areas of interestnull nulline Arts,
Science, and Alternatinulle Energy.
nullhrough donor generosity
Diamond Dreams Comedy Fundraiser
to nulline Arts, the nonnullronull
organinulltion has already ginullen
senulleral items to the tonull’s
nullery nullst public high school.
nullollonullng the gifts of instruments
in nullune (a baby grand piano,
a bassoon, and symphonic
chimes), in nullcember, the
Sat., Mar. 20 Endonullent presented the school
6:30-11:00
board nullth funding for a portable
9 Noela Ave, Pelham, NH
Kings Court
acoustical shell, one that can be
(603)635-WASH 9274
Joey Carroll Jeanne Sullivan-Toomey Dave Decker Alana Susko
used both in the auditorium and
222 Central St., Hudson
elsenullhere in the school.
By Appointment Please- Open Evenings
Get Amazing Results with
Benefitting Hudson Heat 14U Softball
nullrpenter said that nullindham
Endonullent is nulllnullays loonullng
SHED LESS treatment
as they participate in the Diamond Dreams National Invitational
and are enshrined in the National Youth Softball Hall of Fame for nenulldonorsnullto assist nullth
Ellen Schofield
these campaigns. nullor more
NDGA certified groomer
...where your pet BEGS to go!
Comedy Show~Dinner~Heads& Tails~Raﬄe~ Silent Auction
information, go to nullnull.
Tickets $20 contact Mimi 882-1618 or yarimim@gmail.com
nullndhamendonullent.org.
PREMIER ROOFING & PAINTING
■ PC/Laptop Repair & Diagnosis
By Jonathan Lee
■ Highly Trained Technical Sales Personnel
603-890-9019 603-235-5731 Locally Owned & Operated Since 1991
www.showtimepc.com
FULLY INSURED FREE ESTIMATES
Residential & Commercial Interior & Exterior Painting
$10 OFF
*
Rubber (EPDM) Roofing Interior Trim Work IN-STORE
Fiberglass Shingles Water Damage Repair
SERVICE & REPAIR
Composite Shingles Wall & Ceiling Repair *Cannot be combined with any other offers or coupons.
Chimney Repair
Expires 3/31/10
Mortar Work
www.premierroofingnh.com
882-5400882-5400
15 Derry Street, Hudson, NH
Page 1 | Page 2 | Page 3 | Page 4 | Page 5 | Page 6 | Page 7 | Page 8 | Page 9 | Page 10 | Page 11 | Page 12 | Page 13 | Page 14 | Page 15 | Page 16