The Isanti County News http://isanticountynews.com The Isanti County News covers community news, sports, current events and provides advertising and information for the cities of Cambridge, Isanti, and Braham, Minnesota and their surrounding areas. Fri, 27 Feb 2015 18:55:09 +0000 en-US hourly 1 Anderson http://isanticountynews.com/2015/02/27/anderson-2/ http://isanticountynews.com/2015/02/27/anderson-2/#comments Fri, 27 Feb 2015 18:55:09 +0000 http://isanticountynews.com/?p=119221 Laura Hemsworth and Logan Anderson, of Isanti, announce the birth of their daughter, Delilah Mae Anderson. She was born on January 20, 2015 at Mercy Hospital Coon Rapids. She weighed 7 pounds, 10 ounces and was 20-1/4 inches long.
Delilah has a very excited sister, Sophie.
Grandparents are Tina Anderson of Isanti, Patrick Anderson of Isanti, and Tim and Sandie Hemsworth of Isanti.

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LeRoy A. Nelson, Jr. http://isanticountynews.com/2015/02/27/leroy-a-nelson-jr/ http://isanticountynews.com/2015/02/27/leroy-a-nelson-jr/#comments Fri, 27 Feb 2015 18:54:32 +0000 http://isanticountynews.com/?p=119218 LeRoy   A.  Nelson, Jr.

LeRoy A. Nelson, Jr., age 71, of Isanti died February 25, 2015 at home.
LeRoy was born December 29, 1943 to Arthur and Delores (Carlson) Nelson in Litchfield. He was raised in Mora and graduated from Mora High School. LeRoy joined the Marine Corps in 1963. LeRoy was honorably discharged in 1966. Upon returning to Minnesota he married Sandra Fredin on March 2, 1968. They made their home in Blaine, Ham Lake and then in early 90’s they moved to rural Isanti.
LeRoy’s passion was working in the shop on cars, he even raced a few back in the day. He also enjoyed sitting on the dock fishing.
LeRoy is survived by his wife, Sandra; two children, Dana (Brian) Ness and Darin (Angela) Nelson; grandchildren, Whitney Wies, Ethan (Kendra) Wies, Chase Nelson, Devin Nelson; great-grandchild, Jack Wies; several nieces and nephews, other relatives and a lot of friends.
Besides his parents, he is preceded in death by step-dad, Carrol Joseph Nelson and sister, Marlys Hudson.
A celebration of life will be held on Saturday, March 7, 2015 from noon to 5 p.m. at the family business in Isanti. Arrangements with Strike Funeral Homes.

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Bombers, Bluejackets win playoff openers http://isanticountynews.com/2015/02/27/bombers-bluejackets-win-playoff-openers/ http://isanticountynews.com/2015/02/27/bombers-bluejackets-win-playoff-openers/#comments Fri, 27 Feb 2015 16:55:47 +0000 http://isanticountynews.com/?p=119215 BASKETBALL UPDATES:  Braham, seeded No. 3 in the Section 5AA North, opened the 2015 boys basketball playoffs by downing No 6 Foley 76-47 at home Feb. 26. The Bombers will have a hard battle in the next round as they take on No. 2 seed Maple Lake on Saturday, Feb. 28 (3 p.m.) at the St. Michael-Albertville gym. The Irish knocked off Mora 75-42 Thursday night.

More winners in the 5AA North were top-seed St. Cloud Cathedral (79-42 over Spectrum) and No. 4 Annandale (68-57 over Milaca).

C-I BOYS BEAT RANGERS

With a solid shooting night from the arc, No. 6 seed Cambridge-Isanti defeated No. 3 Forest Lake 52-51 in when the Section 7AAAA boys basketball quarterfinals were played Feb. 26. Nate Cox scored 14 for the Bluejackets, with Collin Terwilliger scoring 12, Kyle McDonald 10 and Jake Harding 9.

The Bluejackets advance to the Tuesday, March 3 section semifinals, with an 8 p.m. game against No. 2 seed Andover at the North Branch gym. The 6 p.m. semis will see No. 1 seed & defending champ St. Francis against No. 5 Duluth East. The Saints beat Coon Rapids 92-62, and the Greyhounds worked past Blaine 60-53 in their quarterfinal wins.

BRAHAM GIRLS SEEDED NO. 5 IN 5AA

The Braham girls basketball squad (15-10) was seeded in the No. 5 slot for next week’s Section 5AA North tournament. The Bombers will open at No. 4 St. Cloud Cathedral (9-16) at 7 p.m. Thursday, March 5.

The winner moves on to the March 7 North semifinals at STMA against either No. 1 seed Annandale (19-6) or No. 8 Spectrum (7-18). In the other bracket half, Foley (19-6) is the No. 2 and Milaca (14-10) is the No. 3 seed.

The 5AA South top seeds are Watertown-Mayer (19-6), Providence Academy (14-9) and Minneapolis Patrick Henry (14-12).

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Higher Estate Taxes: Bad Idea http://isanticountynews.com/2015/02/27/higher-estate-taxes-bad-idea/ http://isanticountynews.com/2015/02/27/higher-estate-taxes-bad-idea/#comments Fri, 27 Feb 2015 16:30:03 +0000 http://isanticountynews.com/?guid=166e080a538263d9ac8752407ec3536e Boosting the tax on inherited wealth is a perennial goal of some politicians. And while the White House’s latest plan to boost the levy on estates faces a dim future in a GOP-controlled Congress, the concept will continue to pop up. There’s a lot wrong with this idea.

President Barack Obama’s budget wants to see an increase in the rate of what some call the death tax from 40% to nearly 60%, when you apply his proposed higher capital gains tax of 28% to what’s left after paying the death levy.

Under current law, when you inherit an asset and wish to sell it, you figure out what’s called your basis. When your parents, or whoever bequeathed you the asset, were alive, the basis was what they originally paid for it. If you inherit your parents’ home, you can bet it’s worth more upon their death than they paid for it. For you as the heir, current law says the basis rises to the property’s fair market value – what it would sell for today.

But under the new proposal, when you inherit an asset, your basis will simply be the decedent's original basis.

Example: Dad buys a house for $10,000. He dies and leaves it to you. The fair market value on the date of death is $100,000, which is the new basis. You sell it for $120,000. Under current law, you have a capital gain of $20,000 (sales price of $120,000 less step-up in basis of $100,000).

Under the Obama plan, you have a capital gain of $110,000 (sales price of $120,000 less original basis of $10,000). If you live in a state with high property values, this could result a substantial tax burden. In California, a state with very high home prices, the average beneficiary would probably be forced to sell their parents' home just to pay the taxes due.

I believe this proposal has very little chance of becoming law. Change that to I hope this proposal has very little chance of becoming law.

The Obama plan contains exemptions for some households, but an enormous number of people still would get slammed. The whole reason we have step-up in basis is because we have a death tax. If assets are liable for tax when Dad owned them, it’s unfair to treat them as liable for tax again when the inheritor sells it. This adds yet another redundant layer of tax on savings and investment. It's a huge tax hike on family farms and small businesses.

This is like a second tax. The first one has a top tax rate of 40% and a standard deduction of $5.3 million ($10.6 million for surviving spouses). Conceivably, an accumulated capital gain could face a 40% death tax levy and then a 28% capital gains tax on what is left. That equals an integrated federal tax of just under 60% on inherited capital gains.

Note that Dad’s original purchase of stocks, bonds and property with after-tax dollars. In other words, Dad earned money and paid taxes on those earnings. With the money he had, after he paid Uncle Sam, he (and perhaps Mom) bought the asset the beneficiary now must pay taxes upon Dad’s death. I know, it’s capital gain taxes. However, when I sell asset that has appreciated, I pay capital gain taxes.

If this proposal – or something like it – becomes law, and my wife and I die, my daughter confronts a very large tax burden.

When I choose to sell an asset, I normally pay capital gain taxes. I can do some tax planning accordingly. Under the Obama proposal, my daughter cannot take advantage of any planning options to attempt tax reduction that would be available to me, if alive.

Follow AdviceIQ on Twitter at @adviceiq.

Phillip Q. Shrotman is founder and president of Principal Planning Service, Inc. in Long Beach, Calif. He was a professor in the Business Division at Long Beach City College for over 29 years, where he held the position as Coordinator for Financial Planning and Insurance for the college. He holds a Community College Instructors Credential from the University of California at Los Angeles and a master’s from the University of San Francisco. He also holds the profession designations of General Securities Principal of the Financial Industry Regulatory Authority (FINRA), Series 7 and 24. He has appeared as a guest on KABC Talk Radio and various television and radio programs.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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Boosting the tax on inherited wealth is a perennial goal of some politicians. And while the White House’s latest plan to boost the levy on estates faces a dim future in a GOP-controlled Congress, the concept will continue to pop up. There’s a lot wrong with this idea.

President Barack Obama’s budget wants to see an increase in the rate of what some call the death tax from 40% to nearly 60%, when you apply his proposed higher capital gains tax of 28% to what’s left after paying the death levy.

Under current law, when you inherit an asset and wish to sell it, you figure out what’s called your basis. When your parents, or whoever bequeathed you the asset, were alive, the basis was what they originally paid for it. If you inherit your parents’ home, you can bet it’s worth more upon their death than they paid for it. For you as the heir, current law says the basis rises to the property’s fair market value – what it would sell for today.

But under the new proposal, when you inherit an asset, your basis will simply be the decedent's original basis.

Example: Dad buys a house for $10,000. He dies and leaves it to you. The fair market value on the date of death is $100,000, which is the new basis. You sell it for $120,000. Under current law, you have a capital gain of $20,000 (sales price of $120,000 less step-up in basis of $100,000).

Under the Obama plan, you have a capital gain of $110,000 (sales price of $120,000 less original basis of $10,000). If you live in a state with high property values, this could result a substantial tax burden. In California, a state with very high home prices, the average beneficiary would probably be forced to sell their parents' home just to pay the taxes due.

I believe this proposal has very little chance of becoming law. Change that to I hope this proposal has very little chance of becoming law.

The Obama plan contains exemptions for some households, but an enormous number of people still would get slammed. The whole reason we have step-up in basis is because we have a death tax. If assets are liable for tax when Dad owned them, it’s unfair to treat them as liable for tax again when the inheritor sells it. This adds yet another redundant layer of tax on savings and investment. It's a huge tax hike on family farms and small businesses.

This is like a second tax. The first one has a top tax rate of 40% and a standard deduction of $5.3 million ($10.6 million for surviving spouses). Conceivably, an accumulated capital gain could face a 40% death tax levy and then a 28% capital gains tax on what is left. That equals an integrated federal tax of just under 60% on inherited capital gains.

Note that Dad’s original purchase of stocks, bonds and property with after-tax dollars. In other words, Dad earned money and paid taxes on those earnings. With the money he had, after he paid Uncle Sam, he (and perhaps Mom) bought the asset the beneficiary now must pay taxes upon Dad’s death. I know, it’s capital gain taxes. However, when I sell asset that has appreciated, I pay capital gain taxes.

If this proposal – or something like it – becomes law, and my wife and I die, my daughter confronts a very large tax burden.

When I choose to sell an asset, I normally pay capital gain taxes. I can do some tax planning accordingly. Under the Obama proposal, my daughter cannot take advantage of any planning options to attempt tax reduction that would be available to me, if alive.

Follow AdviceIQ on Twitter at @adviceiq.

Phillip Q. Shrotman is founder and president of Principal Planning Service, Inc. in Long Beach, Calif. He was a professor in the Business Division at Long Beach City College for over 29 years, where he held the position as Coordinator for Financial Planning and Insurance for the college. He holds a Community College Instructors Credential from the University of California at Los Angeles and a master’s from the University of San Francisco. He also holds the profession designations of General Securities Principal of the Financial Industry Regulatory Authority (FINRA), Series 7 and 24. He has appeared as a guest on KABC Talk Radio and various television and radio programs.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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Cambridge Campus presents, ‘Comedy Triple Feature’ http://isanticountynews.com/2015/02/26/cambridge-campus-presents-comedy-triple-feature/ http://isanticountynews.com/2015/02/26/cambridge-campus-presents-comedy-triple-feature/#comments Fri, 27 Feb 2015 01:05:12 +0000 http://isanticountynews.com/?p=119137 See a picture slideshow at the end of the article.

Anoka-Ramsey Community College is proud to announce the student-actors cast in its production of “Comedy Triple Feature,” a trio of short one-acts at the Cambridge Campus.

Performances will be held at 7:30 p.m. on Feb. 26, 27 and 28, and at 2 p.m. on March 1 in the Juanita and Charles Peterson Community Room at the Cambridge Campus. Tickets are $8 general admission; $4 for seniors (Sunday only). For more information, visit AnokaRamsey.edu.

Anoka-Ramsey Community College Faculty member Lisa Weaver is directing.

“We are very excited about the show here at the Cambridge Campus — it’s sure to be a silly, fun romp,” Weaver said. “After directing the dark and brooding, ‘A View from the Bridge’ last fall and a murder mystery last year, I wanted to do something light and fizzy. We are laughing a lot and having fun in rehearsals. The students in the show bring unique talent and great ideas.”

More about Comedy Triple Feature

Laugh and sigh your way through three acts that mash-up of music, dance and comedy while looking at love, dating and marriage.

Act 1: “The Proposal” by Anton Chekhov

Everything that can go wrong does go wrong when a nervous hypochondriac wants to ask his neighbor for her daughter’s hand in marriage.

Act 2: “Here We Are” by Dorothy Parker

Newlyweds headed to their honeymoon destination have an unexpected and hilarious conversation on their journey.

Act 3: “The Sure Thing” by David Ives

Two strangers meet in a coffee shop. Is it love at first sight? Maybe, if they can keep going back to the beginning every time one of them makes a misstep.

Cast List:

The Proposal

Kathy Cole (North Branch): Madame Chubukov

Camille Miller (North Branch): Natalia, her daughter

Timothy Belkholm (Cambridge): Lomov, their neighbor

Here We Are

Bradley Becker (North Branch): He

Cassandra Fiskewold (North Branch): She

Sure Thing

Ben Kietzman (North Branch): Bill

Kacie Lien-Rubbert (Braham): Betty

• Crew

Stage Manager: Hannah Seline-Wagner (Cambridge)

Sound Design: Hannah Seline-Wagner (Cambridge)

Costume Design: The Ensemble

Costume Assistant: Whitney Greenwaldt (North Branch)

Scenic Design: Travis Collins (California)

Technical Crew: Justin Canterbury (Zimmerman)

Cast of “The Proposal.” Photos by Brielle Bredsten Cast of “Here We Are.” Cast of “Sure Thing.” Pictured are all cast members, along with the crew members. ]]>
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Pork Chop Dinner at St. John Lutheran Church, Weber http://isanticountynews.com/2015/02/26/pork-chop-dinner-at-st-john-lutheran-church-weber/ http://isanticountynews.com/2015/02/26/pork-chop-dinner-at-st-john-lutheran-church-weber/#comments Fri, 27 Feb 2015 01:00:03 +0000 http://isanticountynews.com/?p=119135 The Mission Society of St. John is hosting its 18th Annual Pork Chop Dinner-Silent Auction on Feb. 28 at St. John Lutheran Church, Weber.

The dinner is from 5-7 p.m. The menu consists of pork chops, mashed potatoes, vegetable-coleslaw-pickles, buns-butter, coffee-milk and pie. Tickets are $10 for adults; $6 for children ages 6-12; and children 5 and under are free.

Bidding closes at 6:45 p.m. with a door prize drawing. (Need not be present to win). All proceeds benefit the upcoming Mission trip to Laredo, Texas.

St. John Lutheran Church is located 6 miles east of Isanti on County Road 5, then 1-1/2 miles south on County Road 12. For donations or other information, call St. John at 763-444-5988.

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Money Moves for Gen Y (Pt. 1) http://isanticountynews.com/2015/02/26/money-moves-for-gen-y-pt-1/ http://isanticountynews.com/2015/02/26/money-moves-for-gen-y-pt-1/#comments Thu, 26 Feb 2015 22:00:02 +0000 http://isanticountynews.com/?guid=9def41a3879f5e3e79f210504ce4f88e Some young adults seem stuck: Baby boomers took the best of what’s available and those nearing middle age always stand in line just ahead of millennials. If you’re a millennial, born between 1980 and 2000, you just need to change habits and work harder on your finances.

Among good moves:

Set at least one financial goal for this year. This goal must be fairly substantial yet doable in the remaining months of 2015.

Point is, if you successfully achieve one goal, you can achieve others. Start slow and work up. I also review my goals every quarter.

Create a three-year plan. A plan differs from a goal because you set an objective – usually several objectives at the same time. You also allow yourself a specific amount of time to accomplish them and create a series of steps to make them happen.

Have as many individual goals within your plan as you like. For example, your plan can include getting out of debt, starting or increasing your retirement savings or building an emergency fund of six months’ expenses. Set the plan for three years and create strategies for achieving each objective within that time.

Write your plan, even type it. Then you refer to it regularly until your action steps become second-nature.

Save for retirement right now. A lot of people feel overwhelmed at the money needed to set up a retirement plan. But starting one is pretty easy.

Sign up for your employer-sponsored retirement plan at work. If your job doesn’t offer a plan, set up an individual retirement account such as a Roth IRA, which provides tax-free growth and allows you to contribute up to $5,500 a year.

You can fund either with payroll deductions automatically taken out of your paycheck. Your contribution can be small; just get started now.

Nudge your plan contribution. If you currently save 6% of your pay – typically about the maximum to take advantage of your employer’s matching contributions, if any – increase to 7% this year. Next year, increase to 8%, and so on.

Expanding your contributions in small increments usually means you hardly notice the drop in your paycheck, particularly if you get annual pay raises of at least 2%.

Tune out doom and gloom. The world always tells us to worry. Be concerned, not worried, and sufficiently concerned to take action that makes the worries go away.

Pay off one credit card and then one more. If you carry a lot of debt, you probably already realize that you won’t get out of it anytime soon – and you don’t have to.

Pick one of your credit cards and plan how to pay it off as soon as possible. Start with the card with the smallest balance. Once you pay off that first card, target another, possibly the card with the second-smallest balance.

Once you pay off two cards, your debt cutting snowballs. Keep going until all of your credit cards are paid off, even if it takes several years.

Set bills for auto pay. More than just annoying, paying bills can strain your emotions if your budget is tight. Spare yourself the aggravation and set up your bills for automatic payment from your bank account. You do have to do this with each creditor but once most or all are set up this way, you enjoy more time for everything else – not to mention a lot less stress.

Create financial affirmations. Affirmations are brief sayings that resonate with you. They can deal with the benefits of certain actions, helping you to create a mindset to achieve a goal or simply restate your plan. Some examples: “In five years (or four, or three – your choice) I will be free of debt,” or “I’m a saver, not a spender.”

Write these down and place them in areas of your home you go to frequently. For example, placing affirmations on your bathroom mirror guarantees that you see them every day.

Read at least one good financial book. Ideally, you read one every month. If you usually fall short of that, settle for getting through just one good money book, no matter how long that takes. Investigate and read as many as possible, and become a regular follower of a few financial blogs.

Volunteer. Sometimes a little perspective goes a long way in getting the upper hand on your finances. Helping people who are in worse situations than you can make you realize your good fortune.

Drop a free-spending friend. If undisciplined spenders dominate your social circle, they might unintentionally sabotage your efforts at greater financial responsibility. In a potentially major step in your financial independence, find a few new friends who spend more conservatively.

Teach your kids about money. Maybe you want to shield your young kids from the sometimes-harsh realities of personal finance. But if your parents did that with you, you may struggle with the result even now.

Make your kids aware of money’s effect on their lives as early as possible. An allowance is a good start, particularly one tied to chores.

(Our next article looks at controlling spending and credit, as well as ways non-financial improvements can help your money management.)

Follow AdviceIQ on Twitter at @adviceiq.

Jeff Rose, CFP, is the founder of Alliance Wealth Management in Carbondale, Ill., and also is the founder of the website Good Financial Cents and Life Insurance by Jeff.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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Some young adults seem stuck: Baby boomers took the best of what’s available and those nearing middle age always stand in line just ahead of millennials. If you’re a millennial, born between 1980 and 2000, you just need to change habits and work harder on your finances.

Among good moves:

Set at least one financial goal for this year. This goal must be fairly substantial yet doable in the remaining months of 2015.

Point is, if you successfully achieve one goal, you can achieve others. Start slow and work up. I also review my goals every quarter.

Create a three-year plan. A plan differs from a goal because you set an objective – usually several objectives at the same time. You also allow yourself a specific amount of time to accomplish them and create a series of steps to make them happen.

Have as many individual goals within your plan as you like. For example, your plan can include getting out of debt, starting or increasing your retirement savings or building an emergency fund of six months’ expenses. Set the plan for three years and create strategies for achieving each objective within that time.

Write your plan, even type it. Then you refer to it regularly until your action steps become second-nature.

Save for retirement right now. A lot of people feel overwhelmed at the money needed to set up a retirement plan. But starting one is pretty easy.

Sign up for your employer-sponsored retirement plan at work. If your job doesn’t offer a plan, set up an individual retirement account such as a Roth IRA, which provides tax-free growth and allows you to contribute up to $5,500 a year.

You can fund either with payroll deductions automatically taken out of your paycheck. Your contribution can be small; just get started now.

Nudge your plan contribution. If you currently save 6% of your pay – typically about the maximum to take advantage of your employer’s matching contributions, if any – increase to 7% this year. Next year, increase to 8%, and so on.

Expanding your contributions in small increments usually means you hardly notice the drop in your paycheck, particularly if you get annual pay raises of at least 2%.

Tune out doom and gloom. The world always tells us to worry. Be concerned, not worried, and sufficiently concerned to take action that makes the worries go away.

Pay off one credit card and then one more. If you carry a lot of debt, you probably already realize that you won’t get out of it anytime soon – and you don’t have to.

Pick one of your credit cards and plan how to pay it off as soon as possible. Start with the card with the smallest balance. Once you pay off that first card, target another, possibly the card with the second-smallest balance.

Once you pay off two cards, your debt cutting snowballs. Keep going until all of your credit cards are paid off, even if it takes several years.

Set bills for auto pay. More than just annoying, paying bills can strain your emotions if your budget is tight. Spare yourself the aggravation and set up your bills for automatic payment from your bank account. You do have to do this with each creditor but once most or all are set up this way, you enjoy more time for everything else – not to mention a lot less stress.

Create financial affirmations. Affirmations are brief sayings that resonate with you. They can deal with the benefits of certain actions, helping you to create a mindset to achieve a goal or simply restate your plan. Some examples: “In five years (or four, or three – your choice) I will be free of debt,” or “I’m a saver, not a spender.”

Write these down and place them in areas of your home you go to frequently. For example, placing affirmations on your bathroom mirror guarantees that you see them every day.

Read at least one good financial book. Ideally, you read one every month. If you usually fall short of that, settle for getting through just one good money book, no matter how long that takes. Investigate and read as many as possible, and become a regular follower of a few financial blogs.

Volunteer. Sometimes a little perspective goes a long way in getting the upper hand on your finances. Helping people who are in worse situations than you can make you realize your good fortune.

Drop a free-spending friend. If undisciplined spenders dominate your social circle, they might unintentionally sabotage your efforts at greater financial responsibility. In a potentially major step in your financial independence, find a few new friends who spend more conservatively.

Teach your kids about money. Maybe you want to shield your young kids from the sometimes-harsh realities of personal finance. But if your parents did that with you, you may struggle with the result even now.

Make your kids aware of money’s effect on their lives as early as possible. An allowance is a good start, particularly one tied to chores.

(Our next article looks at controlling spending and credit, as well as ways non-financial improvements can help your money management.)

Follow AdviceIQ on Twitter at @adviceiq.

Jeff Rose, CFP, is the founder of Alliance Wealth Management in Carbondale, Ill., and also is the founder of the website Good Financial Cents and Life Insurance by Jeff.

AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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Local woman arrested in connection with home invasion http://isanticountynews.com/2015/02/26/local-woman-arrested-in-connection-with-home-invasion/ http://isanticountynews.com/2015/02/26/local-woman-arrested-in-connection-with-home-invasion/#comments Thu, 26 Feb 2015 21:23:11 +0000 http://isanticountynews.com/?p=119209

The Chisago County Sheriff’s Office, along with the Lakes Area, Wyoming and North Branch police departments, responded to a home invasion in the 32500 block of Lofton Lane in north Chisago Lake Township at 3:49 a.m. Thursday, Feb. 26.

According to a press release from the Sheriff’s Office:

The home owner, who occupies the upper living quarters of the single family residence, was reportedly held against his will by three individuals. Also held, once discovered in the home, were a woman and her two children who rent the basement.

The woman, or the complainant in this case, was able to send a text message to a friend who, in turn, contacted law enforcement. Upon their arrival, authorities were able to safely remove the woman and her children from the residence, while the suspects were still upstairs with the home owner.

Ultimately, the trio of suspects was taken into custody with no injuries sustained. They were transported to the Chisago County Jail and booked for first degree burglary, false imprisonment and various other felony charges.

The suspects, all from Minnesota, were identified as Keith Michael Vandekamp, 40, of Vadnais Heights; Mark Joseph Engebrit, 36, of Andover; and Kristin Kay Ingram, 26, of Isanti.

One of the suspects was an acquaintance of the home owner, said Sgt. Berg of the Sheriff’s Office.

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Finding Every Deduction http://isanticountynews.com/2015/02/26/finding-every-deduction/ http://isanticountynews.com/2015/02/26/finding-every-deduction/#comments Thu, 26 Feb 2015 20:00:03 +0000 http://isanticountynews.com/?guid=131106aa6f9793c32c42620a4b870ead Every possible tax deduction can help when your money is tight. Yet many available legal deductions go unclaimed each year simply because most taxpayers still don’t know the breaks exist. From eyeglasses to airline baggage fees, you might qualify for at least one often-forgotten deduction – and maybe more than one.

The Internal Revenue Service allows you to take the cost of certain items, known as itemized deductions, off your tax bill if you qualify. You should itemize deductions if they add up to more than your standard deduction, the IRS advises.

Itemizing also makes sense if you can’t use the standard deduction. Did you have large uninsured medical and dental expenses, or casualty or theft losses? Or pay interest or taxes on your home? Or have large unreimbursed employee business expenses? Or make large charitable contributions?

For filing your taxes, you itemize deductions on IRS Schedule A. If you itemize, don’t overlook these categories:

Job-hunting. Did you spend out-of-pocket to travel to interviews, or shell out for stationery for resumes and cover letters? Deducting these items can make a big dent at tax time.

You don’t have to be officially unemployed, either: Expenses that you incur searching for a better job, even while fully employed, qualify. Other applicable deductions include food and lodging for overnight stays, cab fares and fees you pay to employment agencies.

Moving. If that new job is your first job, you may be able to deduct incurred moving expenses. To qualify, your first job must be 50 or more miles from your previous job or residence, and you must work full-time for about 39 of the first 52 weeks in your new location.

If you qualify to deduct the cost of moving and if you drove your own vehicle for the move, deduct 23.5 cents a mile plus parking and tolls. If you kept excellent records and receipts, you can instead deduct actual driving expenses such as gas and oil.

To calculate this deduction, use IRS Form 3903.

Medical items. You probably realize that you can deduct necessary medical items like wheelchairs and hearing aids. Guess what? While designer eyeglasses, contact lenses or magnifying devices from your local drug store may not seem like medical devices, the IRS does allow these deductions.

Giving to charity. Qualifying donations constitute one of the most common ways that Americans gain tax deductions. Many other acts of charity also qualify.

You can deduct such out-of-pocket expenses as the cost of paint and poster board for a school fundraiser, for example, or the cost of delivering meals or chauffeuring other volunteers, for example. Mileage deductions are at a rate of 14 cents per mile plus parking and toll fees.

Generally, deductions of more than $250 for individual donations require a written acknowledgement from the charity.

Military service. Members of the National Guard or military reserve may deduct travel expenses for attending drills or meetings; you must travel more than 100 miles from home on an overnight trip. Applicable deductions include lodging, meals and 56 cents per mile plus parking and toll fees.

Jury duty. Your employer may be one of the many that pays employees during jury duty but requires employees to turn over jury pay later as recompense. To even things out, you can deduct the amount you give to your employer.

In such cases, the write-off goes on line 36 of your IRS Form 1040, the line totaling up deductions. Add your jury fee total to your other write-offs and write “jury pay” directly to the left.

Baggage fees. The American traveling public rarely recognizes these fees, which can add up quickly. If self-employed and traveling on business, you can tag on those costs as legitimate deductions.

Home energy conservation. Many tax credits for energy-saving home improvements expired but the most valuable credits still exist until 2016. These can effectively refund 30% of the cost of alternative energy upgrades such as solar hot water heaters and geothermal heat pumps.

Loan interest. In most cases, you can only deduct mortgage or student-loan interest if you’re legally required to repay the debt. If you’re a non-dependent student who still receives help from mom and dad, your parents’ generosity may help at tax time in a different way.

If mom and dad pay your loans, the IRS treats the money as a gift to you, the child, who in turn used the money to pay the debt. A non-dependent child can qualify to deduct up to $2,500 of student-loan interest paid. Note: Mom and dad cannot claim the interest deduction.

To get the most out of your tax deductions, stay organized and do your research. No one likes getting audited – though if the IRS does red flag you, some costs of professional advice to defend yourself are, in fact, deductible.

Follow AdviceIQ on Twitter at @adviceiq.

Kimberly J. Howard, CFP, CRPC, ADPA, is a Certified Financial Planner and the owner of KJH Financial Services, a Fee-Only practice located in Newton, Mass. and Denver (781-413-4879). Please visit us at www.kjhfinancialservices.com or email Kim at kim@kjhfinancialservices.com. Follow on Twitter at @kimhowardcfp.
 
AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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Every possible tax deduction can help when your money is tight. Yet many available legal deductions go unclaimed each year simply because most taxpayers still don’t know the breaks exist. From eyeglasses to airline baggage fees, you might qualify for at least one often-forgotten deduction – and maybe more than one.

The Internal Revenue Service allows you to take the cost of certain items, known as itemized deductions, off your tax bill if you qualify. You should itemize deductions if they add up to more than your standard deduction, the IRS advises.

Itemizing also makes sense if you can’t use the standard deduction. Did you have large uninsured medical and dental expenses, or casualty or theft losses? Or pay interest or taxes on your home? Or have large unreimbursed employee business expenses? Or make large charitable contributions?

For filing your taxes, you itemize deductions on IRS Schedule A. If you itemize, don’t overlook these categories:

Job-hunting. Did you spend out-of-pocket to travel to interviews, or shell out for stationery for resumes and cover letters? Deducting these items can make a big dent at tax time.

You don’t have to be officially unemployed, either: Expenses that you incur searching for a better job, even while fully employed, qualify. Other applicable deductions include food and lodging for overnight stays, cab fares and fees you pay to employment agencies.

Moving. If that new job is your first job, you may be able to deduct incurred moving expenses. To qualify, your first job must be 50 or more miles from your previous job or residence, and you must work full-time for about 39 of the first 52 weeks in your new location.

If you qualify to deduct the cost of moving and if you drove your own vehicle for the move, deduct 23.5 cents a mile plus parking and tolls. If you kept excellent records and receipts, you can instead deduct actual driving expenses such as gas and oil.

To calculate this deduction, use IRS Form 3903.

Medical items. You probably realize that you can deduct necessary medical items like wheelchairs and hearing aids. Guess what? While designer eyeglasses, contact lenses or magnifying devices from your local drug store may not seem like medical devices, the IRS does allow these deductions.

Giving to charity. Qualifying donations constitute one of the most common ways that Americans gain tax deductions. Many other acts of charity also qualify.

You can deduct such out-of-pocket expenses as the cost of paint and poster board for a school fundraiser, for example, or the cost of delivering meals or chauffeuring other volunteers, for example. Mileage deductions are at a rate of 14 cents per mile plus parking and toll fees.

Generally, deductions of more than $250 for individual donations require a written acknowledgement from the charity.

Military service. Members of the National Guard or military reserve may deduct travel expenses for attending drills or meetings; you must travel more than 100 miles from home on an overnight trip. Applicable deductions include lodging, meals and 56 cents per mile plus parking and toll fees.

Jury duty. Your employer may be one of the many that pays employees during jury duty but requires employees to turn over jury pay later as recompense. To even things out, you can deduct the amount you give to your employer.

In such cases, the write-off goes on line 36 of your IRS Form 1040, the line totaling up deductions. Add your jury fee total to your other write-offs and write “jury pay” directly to the left.

Baggage fees. The American traveling public rarely recognizes these fees, which can add up quickly. If self-employed and traveling on business, you can tag on those costs as legitimate deductions.

Home energy conservation. Many tax credits for energy-saving home improvements expired but the most valuable credits still exist until 2016. These can effectively refund 30% of the cost of alternative energy upgrades such as solar hot water heaters and geothermal heat pumps.

Loan interest. In most cases, you can only deduct mortgage or student-loan interest if you’re legally required to repay the debt. If you’re a non-dependent student who still receives help from mom and dad, your parents’ generosity may help at tax time in a different way.

If mom and dad pay your loans, the IRS treats the money as a gift to you, the child, who in turn used the money to pay the debt. A non-dependent child can qualify to deduct up to $2,500 of student-loan interest paid. Note: Mom and dad cannot claim the interest deduction.

To get the most out of your tax deductions, stay organized and do your research. No one likes getting audited – though if the IRS does red flag you, some costs of professional advice to defend yourself are, in fact, deductible.

Follow AdviceIQ on Twitter at @adviceiq.

Kimberly J. Howard, CFP, CRPC, ADPA, is a Certified Financial Planner and the owner of KJH Financial Services, a Fee-Only practice located in Newton, Mass. and Denver (781-413-4879). Please visit us at www.kjhfinancialservices.com or email Kim at kim@kjhfinancialservices.com. Follow on Twitter at @kimhowardcfp.
 
AdviceIQ delivers quality personal finance articles by both financial advisors and AdviceIQ editors. It ranks advisors in your area by specialty, including small businesses, doctors and clients of modest means, for example. Those with the biggest number of clients in a given specialty rank the highest. AdviceIQ also vets ranked advisors so only those with pristine regulatory histories can participate. AdviceIQ was launched Jan. 9, 2012, by veteran Wall Street executives, editors and technologists. Right now, investors may see many advisor rankings, although in some areas only a few are ranked. Check back often as thousands of advisors are undergoing AdviceIQ screening. New advisors appear in rankings daily.

 

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Conway A. Thompson http://isanticountynews.com/2015/02/26/conway-a-thompson/ http://isanticountynews.com/2015/02/26/conway-a-thompson/#comments Thu, 26 Feb 2015 18:55:26 +0000 http://isanticountynews.com/?p=119204 Conway   A.  Thompson

Conway A. Thompson, age 91, of Becker, passed away on February 21, 2015 surrounded by his family at the Quiet Oaks Hospice House in St. Augusta, MN.
The funeral service held at 12 p.m., Saturday, March 7, at Faith Lutheran Church in Becker, with visitation two hours prior to the service.
Conway was born in 1923 in Poskin, WI to Arthur and Myrtle Thompson. He served in the United States Navy during World War II. He was a graduate of Gustavus Adolphus College. Conway was a Secondary School Principal for the Cambridge School District for 32 years. He coached the Cambridge basketball team for 13 years, officiated at the State High School Boys Basketball Tournament and served as an Officer and President of the Minnesota High School Coaches Association. He also started the Cambridge High School Golf Program which won 10 consecutive championships and went to state. The friendship of his golf students lasted his entire life. Throughout Conway’s career as a teacher, coach and principal he always had the well being of his students first and foremost. He was a dedicated educator who went above and beyond in his quest for excellence. Conway always cared and will be dearly missed.
Conway is survived by his wife, Rhea; children, Wendy (Glenn) Smith, Heidi (Tracy) Broin, Bruce (Lori) Thompson; grandchildren, Eric (Kim) Smith, Amber (Raymond) Bonte, Bradley Thompson; great grandchildren, Vincent Smith, Sophia Smith, Luke Bonte, Zachary Bonte, Holly Bonte, Alivia Bonte and Taylor Mills.
He was preceded in death by his parents; wife, Lois Thompson; brother, Douglas Thompson and granddaughter, Brooke Thompson.
Memorials are preferred to CentraCare Hospice, Faith in Action or Quiet Oaks Hospice House.

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