6 - March 30, 2012 | Hudson - Litchfield News Arnone- continued from front page


Piece of the Pie Maintaining Your


State of NH Returns


W.F.Boutin EA - Total Tax Solutions LLC The State of New Hampshire may not have an income tax return that affects every citizen of the state, but they do have two returns which affect many taxpayers, the DP-10, Interest and Dividends Tax Return, and the DP- 8, Low and Moderate Income Homeowners Property Tax Relief. The DP - 8 is not a tax return, but is a form that can be filed by low to moderate income taxpayers to receive relief from the burden of the additional State Education Property Tax. (Note: The DP-300, Gambling Winnings Tax Return that was born on 7-1 2009 was repealed in 2011, may it rest in peace.) The Form DP – 8 cannot be submitted prior to May 1 and no later than June 30 of each year to the NH Dept. of Revenue Administration. To qualify, you must own a homestead subject to the state education property tax; you must have resided in the homestead on April 1st of the prior year for which the claim for relief is made; your AGI, as submitted on your Federal Income Tax Return, must be less than $20,000 for the single filing status or less than $40,000 for the married and head of household filing status. You are not required to have filed a Federal Return to qualify, but you must calculate what income you did have as it would have appeared on the federal return, had you filed. A good majority of the citizens that do qualify for this relief are not required to file a Federal Return. Taxpayers, who feel like they may qualify for this relief, should seek assistance in completing these forms so that they do not add income, such as Social Security Income, to their calculations and lower the amount to which they are entitled. We are available in May to assist taxpayers in making these calcula- tions and preparing the forms for submission. The DP- 10, Interest and Dividends Tax Return affects taxpayers who


receive interest and dividends in excess of the exemption amount allowed by state tax law. Each taxpayer receives an exemption of $2400 for the filing status single or head of household, and $4800 for married filing joint. An additional exemption is allowed for taxpayers 65 or older of $1200 and those considered to be legally blind an additional $1200. The tax rate on interest and dividends that exceed the exemptions is 5%. We have found that taxpayers who are required to file this NH Form are usually in a high 25% to 28% tax bracket on their federal return. Not only is the income from these investments being taxed at a high federal rate, but usually are affecting other areas of their federal return causing an additional tax burden. I usually suggest looking into changing the investments to NH municipal bonds, which earnings would be tax free on the federal and state returns. The bond interest rates on the surface are usually lower than other investments but when the tax burden is factored into the equation, they actually result in a higher interest yield. If you find yourself in this predicament, you can use the following formula to determine if a non-taxable municipal bond is equal to the interest from a taxable investment or taxable bond. The formula is: the interest rate paid by the taxable investment, multiplied by (1 minus the taxpayer’s tax bracket percentage) equals the interest paid after tax. Example: Mary is in a 25% tax bracket. She receives 5% interest on her CD investment, which is taxable on her federal return. She would like to know if investing in a municipal bond that offers only 4% interest is to her advantage. Her calculation is .05 (1-.25) = .0375. Her 5% interest after tax is equal to 3.75%. Her investment in a municipal bond at 4% will give her more money and not affect other areas of her federal income tax return. If not taxable on the state as well, additional savings will be realized. This sums up this year’s articles for “Maintaining Your Piece of the Pie”. I hope that they have been informative and that I have achieved my goal of attempting to make the tax code a bit less confusing. I am available year round to answer any tax questions that may arise.


Have a tax question? E-mail taxquest@totaltxsolutions.com 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.


Statistically, Arnone’s stay in Cougar country will have lasting impressions. She virtually owns the record books, ranking in the top two of 20 different, individual and career offensive/defensive categories, not to mention finishing third in career blocked shots with 71, three behind second place, Kate Westervelt, class of 2005. Among the school records that she owns outright are: 1,010 career rebounds; 323 rebounds in a season; 20 rebounds in a game (three times); 30 blocked shots in one season; most career two point field goals (462); and best field goal percentage for a single season as well as career, 48 percent and 46 percent, respectively. Her 1,211 career points placed her second all-time, just 96 points behind former teammate and 2011 grad Kristen Hrubowchak. Arnone’s basketball prowess was not only exhibited under the tutelage of head coach Shawn Flynn. Playing AAU hoops for the New England Shooting Stars, under the guidance of Coach Dennis Reed, Arnone and her mates captured the National Championship in Orlando, FL, in the summer of 2010. In saying it was one of the best basketball decisions she has ever made, Arnone attributes her development as a ‘different kind of player’ to the AAU program. Although her talents flourished at Division III Campbell under Coach Flynn, Arnone was a low post player that dominated the paint and subsequently the boards against lesser talent. At the collegiate level, she realizes her height will cause her game to morph into a style that takes her further away from the hoop; “I used AAU to start to work on ball handling, improving my shot and all other aspects of the game other than rebounding and posting-up.” At the end of January, Arnone committed to a small college located in Norton, MA. After visiting the campus of the four year liberal arts institution, and speaking to basketball coach Melissa Hodgdon, as well as with the college’s dean and a biology professor, Arnone felt Wheaton was the place for her to pursue her academic as well as basketball interests. An honor student at Campbell, Arnone is also a four year member of the Student Council; serving as the organization’s


Becca Arnone pulls down one of her 1,010 career rebounds while in a Campbell uniform


Cougar head coach Shawn Flynn (left) and assistant coach Rod Hayward congratulate Arnone as she leaves the court on senior night


secretary for the past two years. After being nominated by her coach/teacher Shawn Flynn, Arnone is scheduled to receive recognition in April as CHS student of the month-representative of the “well rounded Campbell student.” In assessing her contribution on the hardwood, Flynn noted three elements that Arnone exhibited while a member of the successful basketball program; “work ethic, enthusiasm and a pretty good leadership role for others to follow.” Expounding upon Arnone’s commitment, Flynn added, “it’s a rare occasion when your best player is your hardest worker.” While competitors respected her play on the court, her contribution to the red and black hoop camp run by Flynn and his boys’ basketball counterpart, Pat Roye, influences young talent in the town of Litchfield. Flynn said of Arnone’s role as a camp counselor; “she was a huge role model” adding that he receives numerous requests by participants to be under her leadership. Taking her accolades in stride, Arnone mentioned the word ‘connections’ as being a big word to describe her life at Campbell. “I’ve met so many people in the past couple of years.” In saying that the teachers at Campbell were always supportive of her, athletically as well as academically, Arnone expressed deep gratitude for all their help in the past. Regarding the Player of the Year honors, she said humbly; “it’s a great accomplishment” noting that “it took a lot of work over the four years that led up to it.” But she was quick to acknowledge all of those that shared in her achievement including the trainer, coaches, family and especially her grandfather – “he motivates me a lot.”


Campbell High School to Represent NH at Regional Conference on High School Innovation


submitted by Patricia Waggoner, FIRST Robotics Team 3323, Campbell High School The Campbell High School FIRST Robotics Team 3323,


Potential Energy competed in the 10th annual BAE FIRST Granite State Regional on March 1 to 3. By the end of the three days, the team ranked 17th out of 50 teams. The team’s robot was last seen on March 13 shooting basketballs outside the polls.


At the competition, the team competed in 10 matches,


each match with a different alliance of three teams. There were 84 elimination matches leading up to the final rounds. Potential Energy was invited to participate in the quarter-finals by a team from Connecticut, Buzz Robotics and a team from Rhode Island, Air Strike. This three- state alliance made it to the semi-finals where they were defeated by the alliance that won the competition (Chaos from Central High School in Manchester; Riot Crew from South Portland, ME; and the Screaming Eagles from Plymouth and Gilford). The exciting and intense competition season kicked


off on January 7 when the game was revealed across the country via the NASA Website live from Southern New Hampshire University. Campbell attended the kickoff and was able to see the playing field first hand. The team worked diligently for six weeks


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Campbell High School’s FIRST Robotics Team 3323, Potential Energy team at the BAE Granite State Regional Competition


B


until the robot was bagged and tagged according to the games rules at 11:59:58 p.m. on February 21. The team roster included about 20 Campbell High School Students,12 of whom ended


up attending the competition. Team 3323 would like to thank the mentors especially Mr. Jamie Rand, Mr. CJ Chretien, Ms. Diane Angelini, Mr. Mark Lepore and Mr. Drew Brenner for all their help. Thank you to all the parents who cooked meals during the six-week build season. Team members are also grateful for the support of the school district, school administration, custodians, and other teachers and staff who helped out. In addition, the team would like to thank the 2012 build season sponsors: BAE Systems, Praxair Foundation, Inc. and Schneider Electric. Join the team at the Derry Applebee’s at 14 Manchester Road in Derry on Sunday, March 25, from 8 a.m. to 10 a.m. for an all you can eat pancake breakfast. Tickets can be purchased from any team member or at the door.


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