Clarksville Hosts Second Annual Sports Festival
Clarksville, TN – The Clarksville Department of Parks and Recreation held its second-annual Clarksville Sports Festival on Saturday, March 17th, at the Foy Fitness Center on the campus of Austin Peay State University. The day-long festival was a celebration of sports and athletics in Clarksville and Montgomery County and featured not only clinics, sports demonstrations and interactive areas, but also seminars and even an exposition area where over 20 of Clarksville and Montgomery County’s athletic and outdoor clubs, businesses and organizations provided information to the community.
Clarksville Department of Parks and Recreation Director Mark Tummons congratulates members of the Clarksville Badminton Club on their victory
Miller-Motte invites you to “See Your Future Career” in Your Dream Job
Clarksville, TN – Have you dreamed about an exciting, new career? If someone told you that you could talk to professionals who are already working in that dream job, would you take them up on the offer? Miller-Motte Technical College (MMTC) wants to help you do just that.
Meet employers and professionals in various healthcare, business, beauty, and legal careers. Ask them all the insider questions you have always wanted to know at the “See Your Future Career” event on Wednesday, March 21st, 2012 from 3:00pm until 7:00pm. [Read more]
The Power of Women at Customs House Museum
Clarksville, TN – Customs House Museum celebrated Women’s History Month with The Power of Women on Saturday, March 17th. The day featured fabulous food, original jewelry, artworks, poetry, music and advice on investing, beauty, estate planning, and owning your own business.
The Choppin’ Block, represented by Jennifer Davis and Brenda Sykes, began the day with a brunch fit for a queen. In addition to juice and Mimosas, the buffet held French toast casserole; an egg-spinach-mushroom-onion casserole; petite Danishes; mixed berry, blueberry and strawberry muffins; and array of fresh fruits including grapes, orange slices, strawberries, honey dew melon, and cantaloupe. An entire room on the second floor of the museum was dedicated to getting to know the other participants while enjoying a delicious feast.
One of the wonderful exhibits currently at the Customs House Museum
Oscar Wilde Goes to Trial at the Roxy Regional Theatre in “Gross Indecency”, March 21st-24th
Clarksville, TN – Beginning March 21st, the Roxy Regional Theatre will delve deeper into the life and times of the man who penned such classics as The Picture of Dorian Gray and The Importance of Being Earnest, with a limited run of “Gross Indecency: The Three Trials of Oscar Wilde” in theotherspace, the Roxy’s 50-seat black-box theatre located upstairs.
In three short months, Oscar Wilde, the most celebrated playwright and wit of Victorian England, was toppled from the apex of British society into humiliation and ruin. [Read more]
Keeping Track of Expiring and New Tax Provisions
Clarksville, TN – A number of significant federal income tax provisions expired at the end of 2011, a fact that might be easily overlooked with so much attention being focused on the “Bush tax cuts” that are still in effect, but scheduled to expire at the end of 2012. And new Medicare-related taxes, effective in 2013, have received surprisingly little coverage.
Of course, new legislation could always extend some or all of these provisions, but here’s a quick summary of how things stand.
Already expired
- Alternative minimum tax (AMT)— A series of temporary legislative “patches” over the last several years has prevented a dramatic increase in the number of individuals subject to the AMT–essentially a parallel federal income tax system with its own rates and rules. The last such patch expired at the end of 2011. Unless new legislation is passed, your odds of being caught in the AMT net greatly increase in 2012, because AMT exemption amounts will be significantly lower, and you won’t be able to offset the AMT with most nonrefundable personal tax credits.
- Qualified charitable distributions— This popular provision allowing individuals age 70½ or older to make qualified charitable distributions of up to $100,000 from an IRA directly to a qualified charity expired at the end of 2011. These charitable distributions were excluded from income and counted toward satisfying any required minimum distributions that you would have had to take from your IRA for the year.
- Bonus depreciation and IRC Section 179 expense limits — If you’re a small business owner or self-employed individual, you were allowed a first-year depreciation deduction of 100% of the cost of qualifying property acquired and placed in service during 2011; this “bonus” depreciation drops to 50% for property acquired and placed in service during 2012, and disappears altogether in 2013. For 2011, the maximum amount that you could expense under IRC Section 179 was $500,000; in 2012, the maximum is $139,000; and in 2013, the maximum will be $25,000.
- State and local sales tax— If you itemize your deductions, 2011 was the last tax year for which you could elect to deduct state and local general sales tax in lieu of state and local income tax.
- Education deductions— The above-the-line deduction (maximum $4,000 deduction) for qualified higher education expenses and the above-the-line deduction for up to $250 of out-of-pocket classroom expenses paid by education professionals both expired at the end of 2011.
Expiring at the end of 2012
- Federal income tax rates— After December 31st, 2012, we’re scheduled to go from six federal tax brackets (10%, 15%, 25%, 28%, 33%, and 35%) to five (15%, 28%, 31%, 36%, and 39.6%).
- Long-term capital gains rate— Currently, long-term capital gain is generally taxed at a maximum rate of 15%. And, if you’re in the 10% or 15% marginal income tax bracket, a special 0% rate generally applies. Starting in 2013, however, the maximum rate on long-term capital gains will generally increase to 20%, with a 10% rate applying to those in the lowest (15%) tax bracket (though slightly lower rates might apply to qualifying property held for five or more years). And while the current lower long-term capital gain rates now apply to qualifying dividends, starting in 2013, dividends will be taxed at ordinary income tax rates.
- 2% payroll tax reduction— The recently extended 2% reduction in the Social Security portion of the Federal Insurance Contributions Act (FICA) payroll tax expires at the end of 2012.
- Itemized deductions and personal exemptions— Beginning in 2013, itemized deductions and personal and dependency exemptions will once again be phased out for individuals with high adjusted gross incomes (AGIs).
- Tax credits and deductions— The earned income tax credit, the child tax credit, and the American Opportunity (Hope) tax credit revert to old, lower limits and (less generous) rules of application. Also gone in 2013 is the ability to deduct interest on student loans after the first 60 months of repayment.
- Marriage penalty relief— Tax changes that were originally made to address a perceived “marriage penalty” expire at the end of 2012. If you’re married and file a joint return with your spouse, you’ll see the effect in the form of a reduced 2013 standard deduction amount, as well as in lower 2013 tax bracket thresholds in the tax rate tables (i.e., couples move into higher rate brackets at lower levels of income).
New taxes effective in 2013
Two new Medicare-related taxes created by the health-care reform legislation passed in 2010 take effect in 2013:
- Additional Medicare payroll tax— The hospital insurance (HI) portion of the payroll tax–commonly referred to as the Medicare portion–increases by 0.9% (from 1.45% to 2.35%) for those with wages exceeding $200,000 ($250,000 for married couples filing jointly, and $125,000 for married individuals filing separately). The rate for self-employed individuals increases from 2.9% to 3.8% on any self-employment income that exceeds the dollar thresholds above.
- Medicare contribution tax on unearned income— A new 3.8% Medicare contribution tax is imposed on the unearned income of high-income individuals. The tax generally applies to the net investment income of individuals with modified adjusted gross income that exceeds $200,000 ($250,000 for married couples filing jointly, and $125,000 for married individuals filing separately).
Clarksville Parks and Recreation Report for March 18th, 2012
Clarksville, TN – The weekly Clarksville Parks and Recreation Department Recreation Report provides Clarksvillians with a glimpse at the activities and events that are available from the Parks and Recreation Department for them to enjoy together as a family.
This weeks highlights include:
- Let’s hear it for the Girls
- Baseball, Blastball®, Softball & T-ball Youth Recreation Leagues
- Stroller Time
- Water Fitness Instructor Course
- Movies in the Park
Clarksville Parks and Recreation’s awards second-annual Coach of the Year Award
Clarksville, TN – The City of Clarksville Parks & Recreation Department along with Legends Bank awarded the Legends Award – Coach of the Year Award to Clarksville High School wrestling coach, Jeff Jordan last night at the second-annual Legends Award Coaches’ Banquet held at William O. Beach Civic Hall in Veterans Plaza.
Clarksville High School wrestling coach, Jeff Jordan was awarded the Legends Coach of the Year Award.
Fort Defiance Interpretive Center to host book signing with Author Tom McKenney
Clarksville, TN – The Fort Defiance Interpretive Center, located at 120 Duncan Street, will host its second book signing event Tuesday, April 17th from 5:00pm to 8:00pm.
Fort Defiance Interpretive Center, Clarksville TN.
The Clarksville Civil War Roundtable’s next meeting is March 21st, 2012
The 96th Meeting
Clarksville, TN – The next meeting of the Clarksville (TN) Civil War Roundtable will be on Wednesday, March 21st at the Bone & Joint Center, 980 Professional Park Drive, right across the street from Gateway Medical Center. This is just off Dunlop Lane and Holiday Drive and only a few minutes east of Governor’s Square mall. The meeting begins at 7:00 pm and is always open to the public. Members please bring a friend or two – new recruits are always welcomed.
The meetings topic is “General James Longstreet – Modern General” [Read more]
Rivers and Spires promises excitement for all
Clarksville, TN – It’s hard to believe another year has passed and we are gearing up for the 10th annual Rivers and Spires Festival, April 19th-21st. As usual there will be tons of free concerts, entertainment and activities.
But, because it is our birthday, and we think a big one, the Festival has a few surprises up its sleeve, but you’ll have to come out and see!
Little Big Town to Headline the 2012 Rivers and Spires Festival
