December 23, 2009

The Bulletin -- December 23, 2009 (#1022)

PAT RUSSELL OF ABBOTT, FRENYEA, RUSSELL AND COFFEY DISCUSSES THE CHANGES TO THE 2009 TAX SEASON.

Program: Pat Russell, Changes in Tax Structure for 2010

Pat Russell of Abbott, Frenyea, Russell and Coffey highlighted several changes that will affect the 2009 tax season. Brought on in part by the recession and the country’s current economic state, Russell explained that some of the modifications are temporary. For example, anyone on unemployment can receive a credit of up to $2,400 on their taxes in 2009. Where COBRA is concerned, employers are able to receive a credit of up to 65%. Those who are 70 1/2 years or older are traditionally required to begin drawing on their IRA’s and retirement accounts. However, because of the recession, the government has waived this requirement for 2009.

Other changes to the 2009 tax season include sales tax deduction on purchases of new vehicles or mobile homes, an extension of the First Time Homebuyer credit until 4/30/10, Energy Credits for non-business energy efficient property, and Estate Tax will be eliminated for 2009. Russell also noted that in 2010 people will be able to convert regular IRA’s to Roth IRA without paying tax. Instead, half of the taxes will be paid in 2011 and half in 2012.
For those who make charitable donations be sure to get them in by 12/31/09 in order to receive your deduction.

This Week:

Bonnie encouraged a round of applause for Stan Ransom and Peter Cadieux for the wonderful job they did with the holiday program at Lake Forrest.
First Thursday will be held at Geoffrey's Pub Jan. 7 at 5 p.m.
The League of Women Voters distributed a guide on recycling. Please spread them around.
A special thanks was given to the club’s secret “Tomato Santa” who made sure every salad would get a tomato. Any tomatoes not eaten will be donated to the food shelf.
There is no meeting scheduled for 12/30.
Dues will be due at the end of January, so please be prepared to pay as soon as you receive your invoice.
01/13 the club will be taking a fieldtrip to the Plattsburgh Aeronautical Institute.
The Membership Committee, which normally meets on the second week of the month will be meeting on 1/20 (11am).
Their will be a Board Meeting on 01/25 at CCC Dining Hall at Noon.
The Elk’s staff was presented with the annual collection for their hard work. They split $828 among them all.

Visiting Rotarians: Pat Russell from the Sunrise Club

Guests: Carol Blakeslee-Collin (Stan Ransom) and Pete Grosskopf (John Seiden)

Fines: Bill Rowe ($4) paid for by Bob Kidwell; Rod Giltz ($1-all pay), Kit Booth ($2), Courtland Wood ($2).

Auction Items: Past President Steve Frederick auctioned off a Samuel D. Champlain doll (retail $275—according to Steve) to Keith Tyo for $25. A Champy doll went for $60 to Bill Rowe.

ON BEHALF OF THE CHRISTMAS BUREAU, VICKI MARKING WAS PRESENTED WITH A CHECK FROM THE CLUB BY PRESIDENT BONNIE.

Announcements:

John Seiden saw “Stan (Stupinski) the Accordian Man” do his Christmas Extravaganza at the Fourth Ward.
Howard Lowe’s first granddaughter arrived last night—Ella Ford, 6lb 11oz.
Peter Cadieux will celebrate his first Christmas without his daughter, Gretta, who is getting on a plane tomorrow for Japan and Australia.
Bonnie’s daughter Darcy was selected at Ithaca College as the Outstanding Undergrad in Health Education.
Anyone who would like to join the Convention Committee as a volunteer, go to www.hocvolunteers.com. Be sure to mark It will be Saturday June 9th (event desk, first shift) and June 20th (event desk first shift). They need 72 volunteers to fill the need. Please help if you can.

Bonnie’s Bucks:

Past Pres. Marty Mannix had $10 for Mission of Hope whcih is celebrating 10 years. He passed along some info about an upcoming event at Olive Ridley’s

50/50: There are 52 cards left in the deck and the pot is worth $500. Erik Eaglefeather and drew the 7 of diamonds.

Another Candle Burning For: Tim Kononan (12/27), John McGaulley (12/27), Sonia Long (12/28), Kevin Killeen (12/30).

Food Shelf—Elle Berger:

Elle thanked everyone for their generous contributions leading up to the holidays. November turned out to be Bonnie’s highest month so far with the help of many special donations. Elle gave kudos to Kyle Brister, Cathy Forget and Bill Rowe for their help with the committee.

Oct. Cash Checks Total SA* FS*
$298 $80 $378 $229 $149

Nov. $295 $285 $580 $148 $432

* SA = Salvation Army FS = Food Shelf

Did You Know…?
Bill Gates announced in January 09 a new award of $255 million in support of Rotary's campaign to rid the world of polio, raising the amount committed by the Bill & Melinda Gates Foundation to $355 million.