The Press-Dispatch
Issue link: http://www.ifoldsflip.com/i/1331323
See your local furniture and appliance store for great savings and service. (no long wait times for repairs) hometown store 812-385-5757 1607 W BROADWAY, PRINCETON www.walkershometown.com Owned and Operated by Debra Walker HOURS : Monday thru Friday 10am to 6pm • Saturday 9am to 5pm • Sunday Closed 812-385-5757 See your local furniture and appliance store Your home is a great place to invest your stimulus and tax refund dollars! New shipment of FREEZERS and BEDDING JUST ARRIVED! WE PRICE MATCH ALL MA JOR BRANDS Ask for details trient application due to suffi- cient soil test levels, with opti- mal range recommending on- ly crop removal rates. The way labs test phospho- rus has changed, with Indiana now using Mehlich instead of Bray tests. The recommenda- tions were updated based on changes in how those results read on a soil test. With in- creases in yield, correspond- ing crop removal rates of nu- trients have decreased on a per bushel yield basis. These removal rates have been up- dated, which also reduces the recommendations for supple- mental fertilizer when soil tests and in the optimal range. The Tri-State Fertiliz- er Recommendations are an Ohio State publication, avail- able on their web site. As ma- ny nutrients are measured through soil testing, exten- sive language is used to cov- er soil testing and sampling recommendations. Soil sam- pling technically must be do- ne on farm fields no less than every four years. Rather than recommendations of reducing soil maps to 25 acre grids, the new recommendations cap a single soil sample at 25 acres and recommend less if possi- ble. Although the new recom- mendations are changes from the past, many farmers have already adopted strategies that meet these recommen- dations out of their own re- search and practice on best management. Still, the docu- ment has an executive sum- mary for busy folks that pro- vides an overview of chang- es and why they were made for individuals with a work- ing knowledge of the old doc- ument. For more information or a copy of the new recom- mendations, contact Hans at hschmitz@purdue.edu or 812-838 -1331. Want to share your news with others? The Press-Dispatch can help deliver it to Pike and the surrounding counties. NEWS! 812-354-8500 A-6 Wednesday, Januar y 20, 2021 The Press-Dispatch FERTILIZER Continued from page 1 Dear Rusty: I'm 63 and still working, and I receive So- cial Security ben- efits. Because of COVID-19 my employer has been giv- ing us a $ 300 bo- nus, every three months. This will be $1,200 for the year and it will put me over the $18,240 earnings lim- it for this year. My question is, since these bonuses are COVID-19 related are they still considered earned in- come? My second question is, if I go over the limit does So- cial Security stop my check, even if it might be a portion of the check? Signed: Working During COVID-19. Dear Working: Wheth- er your 2020 earnings (and those bonuses) put you over the annual earnings limit will depend upon how the bonus- es are reported on your Fed- eral income tax return (or your W-2 if you aren't re- quired to file). Your employ- er will send your W-2 earn- ings to the IRS which will, in turn, inform Social Security of your earnings. Social Secu- rity compares your 2020 W-2 earnings to the earnings limit to see if you exceeded the al- lowable limit. In other words, how your employer defines those COVID-19 bonuses and re- ports it to the IRS determines whether SS will count them to- ward the earn- ings limit. You should check with your em- ployer's Hu- man Resources department to see if your COVID-19 bonus- es will be considered as tax- able earnings reportable on your W-2. If you exceed the limit, and you don't inform Social Secu- rity in advance that you did, they won't know about it until they receive your W-2 infor- mation from the IRS (some- time next year, after you file your income taxes). They will then send you a notifi- cation that you exceeded the limit and tell you how much you owe them, and they will want to recover $1 for every $2 you are over the limit (half of what you exceed the limit by). They'll give you the op- tion to repay what they con- sider to be an overpayment in one lump sum, request a repayment plan or to have your SS benefits withheld for as many months as it takes for them to recover what you owe. Note they only withhold full months of benefits, not partial, so you could go sev- eral months without collect- ing any SS benefits until they recover what is owed. The money they withhold because you exceeded the limit is not lost forever, be- cause when you reach your full retirement age (66 ½ if you turned 63 in 2020) they will give you time credit for any months they withheld benefits. That means they will move your effective claim date forward by the number of months benefits were with- held, which will result in a small increase in your bene- fit amount. But you'll get that higher benefit for the rest of your life, enabling you to eventually recover the mon- ey they withheld because you exceeded the limit. And for information, during the year you reach your full re- tirement age (FR A) the lim- it goes up and the penalty is less, and once you reach your FR A there is no longer a lim- it to how much you can earn while collecting benefits. To submit a question, vis- it our website (amacfounda- tion.org/programs/social-se- curity-advisory) or email us at ssadvisor@amacfounda- tion.org. Social Security Matters By Rusty Gloor Do COVID-19 bonuses count toward the earnings limit? Thank You I want to thank my dear family, church fam- ily, neighbors, classmates and many friends, the Ole Flower Shoppe, Meyer Flower Shop, Hallmark for all the many cards, phone calls and gifts for making my 83rd birthday so special. May God richly bless all of you. Love, Bev Bement Siebert's Where Helping You Dress Well Has Been A Specialty, Since 1922 Where Helping You Dress Well Has Been A Specialty, On e Square in Jasper • 812-482-5514 • siebertsclothing.com Hours: Monday, Tuesday, ursday, Friday 9 a.m. - 5:30 p.m.; Wednesday 9 a.m. - 8 p.m.; Saturday 9 a.m. - 3 p.m. Fall and Winter Sportswear Men's and Women's Department 40 % off SPORTSWEAR CLEARANCE GOING ON NOW! 812-354-8500 • ads@pressdispatch.net SERVING THE ENTIRE AREA PETERSBURG & WINSLOW