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Salem Community Patriot
March 19, 2010 - 5
nullre nulltters to tnull Editor
nullntinnulld nullom page 3
that is beinnullusednullhe inullores the fact number of his fanullorite charities. nullhese his tarnullt audience well by holdinnullup the
Maintaining Your
that the nullpublican Party in nullashinnullon ornullninulltions do enullraordinary work in the Nanull swastika and Communist hammernull
has used that process onuller Democratic nullited States and abroadnullhelpinnullstudentsnull andnullickle cards while delinullerinnullhis
Piece of the Pie
opposition null out of the null times that nulleteransnulland countless others in neednullnull screednullunderstandinnullthat his easily led shelter
it’s been implemented since its nullnull nullama stated. null’m proud to support their crowd will null alonnullwith almost anythinnull
enactment. Sonullplease nullnulle the Stradinullarius work.null that comes out of his mouthnullas lonnull
a break. nullinallynullas nullnullNnullS’ Glenn nullck as it’s accompanied by an emotionally
Tax Benefits for Education
nullrack nullama’s nullnerous decision last continues to mine the depths of rampant charnulld nullsual or two. Nenuller mind how
W. F. Boutin EA – Total Tax Solutions LLC
weeknullnaminnullthe recipients of the null.null idiocynullennullndered by his rantinnull alonnull disinnullnuous his whole passion play is to
million he receinulled for last year’s Nobel with most of the rest of what passes for anyone with a scintilla of sense. The IRS Tax Code allows for numerous tax advantages pertaining to
Peace Prinullnullshowed his wide rannull of modern consernullatinulle ideolonullnullenullen his nullmember when one of America’s main education mostly for post-secondary expenses. The advantages include:
interests in areas that could most use some own fans and supporters are wonderinnull claims to fame from both manullr political
the taxability of educational assistance received by taxpayers or their
nullancial assistancenullas well as reconullinulld lately what he’s tryinnullto sell. nullhe parties was to attempt to succeed at the two
dependents in the form of scholarships, grants, fellowships, qualified
how important hinuller education in today’s nullpublican Party’s ofnullial nullown Crier’snull nullusticesnullmentioned abonullenull Practicinnull
education reductions and employer provided education assistance. Tax
America is to the nullneration currently latest diatribes anullinst the Christian Christiansnullalonnullwith enulleryone elsenullwould
deductions such as the tuition and fees deduction and student loan
aduatinnullhinull scnull hool. nuller half of the Church for adnullocatinnullnullocial nullsticenull do well to inullore nullck’s nulleachinnullnullnullas
interest deduction that are found in the adjustments section of the Form
money nullnullnullnullnull is nullinnullto sinulldifferent and nullconomic nullsticenullwould be nullst the well as the antinullumana emanatinnullfrom
1040 and lower the AGI on the income tax return. However they are
subject to phase-out limitations for high income tax brackets. And last,
nulloups that nullancially aid incominnullcollenull bleatinnullof another nullofynullmarnullnalinulld the rest of his rinulltnullinnullmedia aidesnullenull
the business deduction for work related expenses that are taken on SCH
students. nullhe nulleteran’s Administration’s media wannabe in a nation peopled by camp. nullt’s pay more attention to what
A as a miscellaneous deduction subject to 2% of the AGI. Tax credits
nullisher’s Housenulla domicile facility for informed citinullns who studied facts instead their real anullatar preached nullnullnullyears
that are allowed by the tax code for education include the Hope Credit
families of nullA patientsnullwill receinulle of lyinnull slonullneerinnullblather. nullt in the anull. nullybe start with Jesus’ Sermon on
and the Lifetime Learning Credit. Both are non-refundable credits that
nullnullnullnullnullredressinnullin a small way the modernnullay null of Anullunfortunatelynullwe are the nullunt if you’re feelinnullambitious. null
are subject to phase-out limitations.
hunull cuts made by the prior presidential linullnnullin a country that makes millionaire insteadnullnullst keep it simpler by tryinnullto (Note: One of the provisions of the ARRA was “The American
administration on nulleteran’s hospitals and superstars out of foolsnullas lonnullas said lonulle your neinullbor a little more. Opportunity Credit” available for tax years 2009 and 2010.
benenulls. nullama also donated nullnullnullnull fools inundate their ranullnnull with a suitable It basically expanded and renamed the existing Hope Credit making it
to the Haiti rebuildinnulleffort. All of amount of hatred for their fellow man.
nulllliam Fnull nullessens nullnulllem
available to a broader range of taxpayers; including many with higher
the remainder will be nullinnullto a larnull nullcknullas usualnullshowed that he knows
incomes and those who have no tax liability. [Up to 40% of the amount
of the credit for which you are eligible is refundable]. It also adds
required course materials to the list of qualifying expenses and allows
Pentucket Bank nullmes
the credit to be claimed for four post-secondary education years instead
of two. Many of those eligible will qualify for the maximum annual
credit of $2,500 per student.)
nullCnullirman and Cnullef Enullnull ecutive nullnuller
The tax code provides for education savings programs in the form of
Coverdell ESA plans and qualified tuition plans (also known as QTP’s or
submitted by nullinullbeth Cote a leader in the community and welcome the opportunity to continue
Section 529 plans). Neither of these saving programs allow for a present
At its nullnullh Annual nulletinnull Pentucket nullnk’s nullard of to lead Pentucket nullnk on its onnullinnullnullurney to nullancial success
tax reduction in the form of deductions or pre-tax benefits. They do
Corporators nulloted to elect nullendall C. Smith as the Chairman of the and community supportnullnullsaid Scott Cotenullpresident and newly
allow the taxpayer to invest funds with earnings growing tax free.
nullardnullwhile Scott D. Cote was promoted to Chief nullecutinulle nullnuller appointed Cnull.
Distributions remain tax free for qualified expenses. The Education
Savings Bond program allows for qualified bonds to grow tax free and
nullnullnullin addition to his role nullith null years of enulleriencenull
remain tax free when cashed in to pay for qualified education expenses.
as the nullnk’s President. nullen Scott has an enullensinulle
This program is subject to phase-out limits. Finally we have the
Smith will replace nullmund J. backnullound in administrationnull
exception from penalties for the early withdrawal of Traditional IRA
Cote as the Chairman of the commercialnulland consumer
funds when used for qualified education expenses. Remember, the
nullard of nullrustees. null Cote will lendinnull branch operationsnull
penalty may be wavered, but the distribution will still be taxable. This
remain as a member of the marketinnull and community transaction will raise the AGI, taxable income and possibly increase the
nullard of nullrustees. support. He nullined the nullnk tax bracket in the year of distribution which can affect other areas of the
nulltnullinnullChairman nullmund in nullnull and was appointed return.
J. Cote statednullnullen is an icon President in nullnull. As President
Needless to say, we can not do justice to explain all of these programs
in the local community. As the and Chief nullecutinulle nullnullernullhe
to their fullest potential in this short space; however we would like to
nullnk’s ambassadornullnullen will is responsible for the daynullonullay
mention a few pertinent details.
remain actinullely innullolnulled in the operations of the nullnk.
The definition of the terms qualified expenses; eligible educational
communities that Pentucket nullnder Scott’s directionnull
institution and eligible student, though used in most of the programs
vary to some degree.
nullnk sernulles.null Pentucket nullnk Pentucket nullnk’s lenullcy of
The majority of these programs pertain to post-secondary education
has enullibited a stronnullhistory enullellence and community
only. The Coverdell ESA and qualified tuition reductions provided by
of nullowth onuller the last null sernullce will continue and he
some eligible educational institutions are also geared for primary and
yearsnullwith assets nullowinnull will lead the nullnk to many new
secondary education.
Kendall Smith
from nullnull million in nullnull achienullements in the cominnull
Scott Cote
If you are already at an income level that would disallow your use of
to nullnull millionnullas of yearnull yearsnullnullstated nullen Smithnull
the credits, deductions or programs that are subject to phase-out
end nullnull. And durinnullnullnullnullthe nullnk continued to witness record Chairman of the nullard. limitations or feel that the possibility exists of being at that level in the
nullowthnullorinullnatinnullnullnull million in commercial loans and nullnull nulltablished in nullnullnullPentucket nullnk is a mutual community future when your dependents are ready for this phase of their education,
million in mortnullnull lendinnull and attractinnullnullnullmillion in deposits. bank offerinnulllocal decisionnullakinnull As a mutually chartered banknull
then you should consider partaking in the savings programs such as the
null additionnullPentucket nullnk maintains the numbernullne deposit Pentucket nullnk has no shareholdersnullpays no dinulldendnulland will not
Coverdell and QTP (529) plans.
market share position within the Hanullerhill marketnulland is one of be sold. At Pentucket nullnknullall deposits are insured in fullnullwith the
For further information on these various tax benefits/programs, please
the fastest nullowinnullbanks in both Salem and HampsteadnullNew nullst nullnullnullnull per depositor insured by the nullnullnulland all deposits
visit our website @ under Seminars - Tax
Hampshirenullwhere the nullnk also has branches. abonulle this amount insured by the Depositors nullsurance nullnd nullnullnull
Benefits for Education. Next Week: State of NH Tax Returns
nullur results hanulle been achienulled by a constant focus on delinullerinnull Pentucket nullnk operates three fullnullernullce community bankinnull
Have a tax question? E-mail
enullraordinary sernullce to our customers by our team of dedicated and ofnulles in Hanullerhillnullnullssachusettsnullas well as fullnullernullce branches
talented professionals. nullthank nullen for the nulle enullmple he has set as in Hampstead and SalemnullNew Hampshire.
Central Catnulllic nullnull Scnullol nullrial Advocacy nulleam
Advances in nullck nullrial nullournament
submitted by nullynne nullierson School of nullw.
null a dramatic nullctorynullthe team from Central Catholic Hinull nullch yearnullthe nullssachusetts nullr Association competition nulldnulls
School defeated Philips Andonuller Academy in the renullonals of the students on their writinnull thinkinnull speakinnull and adnullocacy skills
to decide which team will
become state champion
and then compete at
the national lenullel. nullhis
year’s case accused the
defendants of committinnull
massinulle nullancial fraud and
charnulld the defendants
with securities fraud
and nullolations of nullarious
nullssachusetts laws.
nulleam members include
decade is a tribute to the strennullh of Central Catholic’s academic
Jeremy GarneaunullAnnulllica
pronullam and Central Catholic Hinull School’s deep commitment
to enullandinnulltheir students’ intellectual curiositynullwhile pronulldinnull
nullscarbeaunull Shaun
support to ensure their intellectual nullowthnullnullsaid Dean Coyne.
adleynull nullnullleen nullnullary
null compliment the students on their tireless work throunullout the
nullalemnull nulluen Punullisi
year denullelopinnulla stratenullnullwritinnulltheir openinnullnullclosinnullnulland
indhamnull nullcnull helle Abounull
witness enullminationsnulland honinnulltheir presentation skillsnullnullsaid
The Central Catholic nullinull School Mock nullrial nulleam poses in the Massachnulletts School of LanullConulltroomnull nulladnullAndrea nullrounnull
nullard. nullhat the students would work on this nonnullredit pronullct after
Bottom ronull Jeremy Garneanull Lanullen nullnulllisinullnullnnulllica nullnullen nullenior captainnull Michelle nullbonullRaadnullnullshlee Bkenullnull Ashlee nullrkenullColleen
schoolnullon weekendsnulland durinnullnullacations says a nulleat deal about
nullndrea MaronullnullMichelle Lescarbeanull Colleen Shea nullenior captainnull nullop ronull Shanull Bradleynullnulllie Coolinullnullnullaniel Frostnull SheanullAlie CoolidnullnullDaniel
their dilinullncenullcharacternulland intenullitynullwhich are the hallmarks of
nullmitri SkambasnullEileen nullnullearynullnullatrick Bradley nullenior captainnull nullrostnullDimitri Skambasnulland
Central Catholic’s students.null
Doggie Daycare & Training Center
Doggie Daycare
Patrick nulladley.
nullssachusetts nullr Association nullc
70 Range Rd, Windham
k nullrial competition last nullhursday
& Training Center
Central Catholic Hinull School has won the renullonal competition
ninullt in the courtroom of the nullssac
husetts School of nullw to
70 Range Rd, Windham
in null of the last null years. nullhis year’s team is coached by Ashleinull
New Year- New Insurance- New SMILE!
adnullance to the Sweet null round of the state tournament this week. nullardnulla teacher at the schoolnullnullssachusetts School of nullw
nullly null teams now remain from o
1st Day of
nuller nullnullsecondary schools
1st Day of
Professor Daniel Crawlinnullnullar Haraydanulland nullssachusetts School
Get the MOST out of your Insurance
that started this academic competitionnullw
hich is sponsored by the of nullw Associate Dean nullchael Coyne.
nullssachusetts nullr Association.
nullentral’s nullctory and success in the competition onuller the last Thinking of changing your insurance- This is the time of year when
Central Catholic’
s nenull trial
dental insurance selections are made by many people. If your
was anullinst the team from
confused or unsure what to do- please give us a call
nullrblehead Hinull School on
nullednesdaynullnullrch nullnullat the
and we’ll be glad to help you understand your coverage options!
District Court at nullssac
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March 27th


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