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Newsletters>
March 2008
March 1, 2008
Help Raise Money for Babies in Need
Opdahl Chiropractic: A Creating Wellness Center and Option
360? Pregnancy Clinic Are teaming up for our annual PATIENT
APPRECIATION DAY!
Tuesday, March 18th, 2008
For your donation of $20…
*Past and current patients will receive a chiropractic
Adjustment
(manually or with the ProAdjuster).
*New patients and those who haven't been seen within 6
months will
receive their Exam and X-Rays if medically necessary.
*Or Schedule your Wellness Assessment to assess your
physical, biochemical, and psychological states.
(Does not apply to Medicare, Workman's Comp, or Auto
Accidents)
100% of all proceeds will be donated to 360? Pregnancy
Clinic
Call Christy Today to Reserve Your Appointment and Help
Local Babies
(360) 666-6001
201 North Parkway Ave. Battle Ground
Anyone wishing to go to the Lincoln Day Dinner at the
Hilton should contact Linda Tracy. Cost is $60.
Tax Tip: Get an IRA
It’s not too late to potentially save on your 2007 taxes.
The IRS gives you until April 15th, 2008 to set up a 2007
IRA and the money you put into your IRA may be tax
deductible.
Ben Franklin once said, “In this world nothing is certain
but death and taxes.” That might be true, but Ben wasn’t
able to open an IRA back then. If he had this option, he
might have felt a little more lighthearted about paying the
taxman. Individual Retirement Accounts (IRAs) are great
for people looking to save money on their tax bill and
boost their retirement savings at the same time.
If the IRA world confuses you, don’t worry. You are
definitely not alone. Many of my clients felt intimidated
when we first started discussing the subject of retirement
or taxes. Here’s a quick explanation of what an IRA is and
what it can do for you.
What is an IRA?
An IRA is a retirement account you control. With an IRA,
the contributions you make can grow either tax-free or tax
deferred until you start receiving distributions when you
retire. There is a yearly limit on the contributions you
can make, but if you’re age 50 or older, you are allowed to
make extra “catch-up” contributions.
Many people mistakenly believe they can’t have an IRA if
they participate in an employer-sponsored plan like a
401(k). The truth is, you can do both. And considering
that social security likely won’t be enough on its own and
people are living longer in retirement, I encourage you to
take advantage of several options.
All these options can be taxing
The two most popular types of IRAs are Traditional and
Roth. Both offer unique benefits to a person saving for
retirement. Consider the Traditional IRA if you’re looking
for a break on your tax return this year. That’s because
you might be able to deduct contributions you make to this
account.
Whether you can take a deduction depends on a few factors.
For example, if you earn too much income, or already
participate in a 401(k) or similar employer-sponsored
retirement plan, you might not be able to deduct
Traditional IRA contributions from your income.
The Roth IRA is a good alternative for people who cannot
make deductible contributions to a traditional IRA. With
the Roth IRA, the tax break is on the back end. You cannot
deduct the contribution, but earnings grow income tax free
and withdrawals at retirement are normally tax free.
However, there are income limits, so check with a
professional to make sure you are eligible to contribute to
a Roth IRA.
It’s easier than you might think
You don’t have to be wealthy to open an IRA. You
can do it today with very little up front. If you’ve
changed jobs recently and still have money in an old
401(k), you can roll that money into an IRA without having
to pay any penalties. This is very popular. About half of
all IRA savings started out in employer-sponsored plans.
You can also sign up for an automatic investment plan,
which allows you to have regular deductions made from a
checking account. These types of plans are great for
people who don’t want to make one large contribution every
year.
No matter what option is best for you, getting help from
an experienced financial professional is essential. Don’t
wait, because the longer you go without a plan, the less
money you’ll have to enjoy in retirement. Denise Koopman
can be reached at 887-2211.
Investment management, retirement, trust and planning
services provided by COUNTRY Trust Bank,® a part of
COUNTRY® Insurance & Financial Services, Bloomington, Ill.
Products of COUNTRY Trust Bank are not FDIC insured, not
guaranteed and may lose value.
Fish Fry in conjunction with the senior parents auction on
March 14 at the High School Commons. We start serving at
5:00 PM. The price is $6 adults, $5 students and seniors.
Lions Easter egg hunt and pancake breakfast on March 22 at
the Community Center. The breakfast starts at 8:00 AM -
11:00 AM. Price $5 - adults and $3 - children under 12 and
seniors. The Easter egg hunt starts at 10:00 AM at the
community park.
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