Hudson - Litchfield News | March 9, 2012 - 13 Lady Broncos Lose in Playoffs
Piece of the Pie Maintaining Your
The Value of Fringe Benefits (Part 1)
utin EA - Total Tax Solutions LLC Many employers offer their employees a fringe benefit package.
Brittney Lambert has to jump for two over Nashua’s Eden Tomaszewski and Emily Boots
Tori LaRoche goes around Nashua’s Emily Boots for a lay up in first quarter play.
by Sue LaRoche On Wednesday, February 29, the number 11 seed Lady Broncos played in their first and only playoff game for this season as they dropped a very close contest 43-41 to the number six seed Nashua North on the road. The Alvirne squad played hard from beginning to end, but missing some easy shots and being out rebounded by North put an early end to the Broncos’ playoff hopes.
Alvirne led for most of the game holding a 10-8 lead after the first quarter, a 24-20 lead at the half and a 35-34 lead at the end of three quarters. The difference proved to be a 9-6 scoring edge in the final quarter by North. With eight seconds remaining, the Broncos were down by two points and Coach Steve Tracy called his final timeout to draw up a play which did get the desired result with an open shot but North was able to block the baseline jumper with time running out on the Broncos. The Broncos had a good night shooting as they hit 43 percent of 2-point shots and 38 percent of 3-point shots. Alvirne hit for five 3-point
shots and held Nashua to three treys. Coach Tracy felt as though the rebounding was what made the difference in the game as North out rebounded Alvirne 38-23 and scored 16 second chance points off those rebounds.
“I really felt that we outplayed them tonight, with the exception of the boards,” explained Tracy who felt that this “was a successful first step in rebuilding. For a young and inexperienced team starting four sophomores and with the first two off the bench usually freshmen, we were a close to .500 team.” Tracy is enthused about the effort put forth by his players, as “We were only a minute away from advancing into the quarterfinals.” Sandi Purcell had a great all around game for the Broncos, controlling the point, shooting and defending as she led the team with 13 points (including three threes). Senior Maya Desfosses added nine points (one three) and four rebounds as she played in her final contest as a Bronco. Brittney Lambert led the team with nine rebounds and tossed in seven points and Tori LaRoche added six points and some solid defense. Venessa Jacques contributed some great defense off the bench and added four
Trying to pass into the paint is a tough task as shown on the face of Alvirne’s Brittney Lambert
These packages can range from elective deferral plans such as 401K, Thrift Savings Plans, 403B tax sheltered annuity plans, or cafeteria/section 125 plans that offer a menu of benefits that can be purchased with pre-tax dollars. Some employers offer benefits which are completely paid for by the employer such as adoption assistance plans, dependent care assistance, educational assistance that are excludable within certain established limits from the employee’s earned income. When these benefits are paid for from the taxpayer’s salary on a pre-taxed basis, taxpayers are able to lower their gross income, AGI and taxable income. In the majority of cases, this will save the taxpayer considerable tax dollars. There are the exceptions for individuals within a particular income bracket and filing status that actually will lose tax dollars from partaking in these benefit plans. A seasoned tax professional should be able to explain if participa- tion in these types of plans is beneficial for your particular circumstances. Elective deferral plans are savings plans geared for your retire- ment. These deferrals are not subject to income tax until you receive distributions from the plan at some future point in time. The intent is that you will be in a lower tax bracket at the time of retirement or at the same level. Many employers also offer a contribution match up to a certain percent of the employee’s salary, for those who participate in such a plan. Let’s look at an example of how this all works. John, a single taxpayer, has gross income from wages of $82,000. According to the tax tables he is in a 25% tax bracket. He has no other income. After we deduct his standard deduction and personal exemption in 2011, his taxable income is $72,500, of which $38,000 is still in the 25% tax bracket. His employer offers a 401K plan that allows him to contribute up to 10% of his salary with an employer match of up to 5%. John elects to contribute 10% of his salary or $8200. His employer will match up to 5%, so he will receive the additional amount of $4100 tax free to work towards his retirement. This $12,300 only cost John $6150.00 since if he had not deferred the $8200, he would be paying $2050 in federal taxes on this income (he is in a 25%tax bracket and he would not have received his employer match). Ironically, John also had some education expenses to deduct this
Bronco Freshman Emily Barry is pushed after a shot in the paint.
points. The Broncos ended the season with a record of 7-11 and graduates two seniors, Maya Desfosses and Jessica Underwood.
Alvirne vs. Winnacunnet
Alvirne’s High School Center #33 Jim Tomaswick goes up strong for two points after making an offensive rebound while
Winnacunnet High School players #4 Patrick Lamprey, #15 David
#23 Seth Edwards, and #12 Spencer Kennedy fight for position in Friday nights boys varsity basketball game at Alvirne High School on March 2.
year. The phase out range for a single person for this credit is between $80,000 and $90,000 in 2010. Before he deferred some of his income to his retirement fund, his AGI was the same as his wages $82,000, so part of his credit was not allowed. By contrib- uting to his 401K, he has lowered his gross income and his AGI to $73,800. He will now be allowed full credit for his education expenses.
As stated before, each taxpayer’s situation is different based upon other information on their particular income tax return. A change in one area of the return can affect several other areas, so when making decisions, the total picture must be reviewed.
Next week: The 401K or IRA?
Have a tax question? E-mail firstname.lastname@example.org
About Total Tax Solutions: W.F. Boutin EA registered Total Tax Solutions in the State of NH as a LLC in the summer of 2006 after 10 years experience working for a major tax preparation company and 8 years of teaching various tax courses. The company mission is to deliver an excellent customer service experience year around, to offer knowledgeable advice so that clients can make informed decisions regarding their financial future, and to provide this service with integrity, confidence and professionalism.
Members of the Alvirne JV Cheer squad performed for the Bronco’s Boys JV Basketball game vs. Winnacunnet High School on Friday, March 2. Members are from left to right, bottom row: Krysta Balser, Jackie Spearing, Kastle Bukala,
Alexis Goldsack, Taylor Johnston, Tara Painter, Felica Moran-Polo. Top row: Alex Hoskins, Kellie Meas, Deanna Hamilton, Taylor Harron, Asia Patterson, Emily Brianas, Paula Quiroga, Nichelle Rambeau, Kaili Rozier, Haley Shreib
Youth Wrestling State Championships
submitted by Steve McClure Nick Milinazzo, a Hudson seventh grader, placed second in his weight class at the NH Middle School Wrestling State Championships. Cameron McClure (furthest to right), a Hudson sixth grader, stands on the podium to accept second place in his weight class at the NH state tournament. The event was recently held at Campbell High School in Litchfield.
Both athletes wrestle for
the Tyngsborough, MA, Youth Wrestling program. They have qualified for the New England Youth Wrestling Championships to be held in Nashua on March 10.
Shawn Jasper Selectman
Paid for by Shawn Jasper 83 Old Derry Rd, Hudson, NH
Cameron McClure n M Basket
Located across from Stop & Shop and Dunkin Donuts
Stop & Shop Pano’s
(603) 595-7827 225 Lowell Road Open Mon-Sat Closed Sundays ’ B
e a s
Photo by Matt Parker
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