The Press-Dispatch
Issue link: https://www.ifoldsflip.com/i/1469332
The Press-Dispatch Wednesday, June 1, 2022 C-3 vest in new structures, they aren't allowed to fully deduct the cost of such expenses for up to 39 years, strongly dis- couraging otherwise profit- able endeavors. Along the same line, one new barrier to investment in the tax code, as of January, is the requirement that busi- nesses amortize research and development expenses over five years. Because of this provision, only 20 % of research and de- velopment spending can be deducted in the year the ex- penses were incurred. As a result, companies that per- form research and develop- ment may be punished with a tax on phantom profits that they never realize. That punishment of re- search and development in- vestments will be especially severe if inflation continues to rage, because any deduc- tions carried forward would be worth far less after five years of inflation sapping the value of each dollar. To their credit, Wyden and Crapo are also considering ending the harmful amorti- zation rules for research ex- penses. Unfortunately, they aren't putting this sensible tax change, which has broad bipartisan support, up for a simple up or down vote. In- stead, they want to tie it to the narrow tax preferences for the semiconductor indus- try in the $ 350 billion "China bill" omnibus package. In typical Washington fashion, the swamp seems determined to force this country two steps backward for every step it allows us to move forward. Preston Brashers is a senior policy analyst for tax policy in The Heritage Foundation's Grover M. Hermann Center for the Federal Budget. FORMULA Continued from page 2 Court Report CIVIL DOCKET Pike Circuit Court Discover Bank sues Pama- la Woodall for civil collection. Discover Bank sues Bren- da Carter for civil collection. Midland Credit Manage- ment Inc. sues Robert Go- odrich for civil collection. Wilmington Savings Fund Society, FSB sues Brian Moyes, First federal Savings Banks, Petersburg Hard- ware, c/o Robin Smith et al for mortgage foreclosure. In re name change of a mi- nor. SMALL CLAIMS Pike Circuit Court Thonas R. Dixon sues Ralph Bertram on complaint. Jenny Deffendoll sues Mi- chael Walburn on complaint. Pike County School Cor- poration sues Akita Reinhart on complaint. Pike County School Cor- poration sues Ryan Earley on complaint. Pike County School Cor- poration sues Tammie Jel- len on complaint. Pike County School Cor- poration sues Mark Henke on complaint. Pike County School Cor- poration sues Misty Ison on complaint. Pike County School Cor- poration sues Jonathan Reyn- olds on complaint. Pike County School Cor- poration sues Amy Morris on complaint. Pike County School Cor- poration sues Crystal Ca- sique on complaint. Pike County School Cor- poration sues Kris Franklin on complaint. Pike County School Cor- poration sues Stacy Johnson on complaint. Pike County School Cor- poration sues Elijah Parker on complaint. Pike County School Cor- poration sues Jason Query on complaint. Pike County School Cor- poration sues Tommy Hayes on complaint. Pike County School Cor- poration sues Jason Mills on complaint. Pike County School Cor- poration sues Jessica Perry on complaint. Pike County School Cor- poration sues Anna Yates on complaint. Pike County School Cor- poration sues Lisa Hewitt on complaint. Pike County School Cor- poration sues Brandi Glad- ish on complaint. Pike County School Cor- poration sues Dusty Bolin on complaint. Pike County School Cor- poration sues Brent Ring on complaint. Pike County School Cor- poration sues Jason Uebel- hor on complaint. Pike County School Cor- poration sues Ron Wiseman on complaint. Pike County School Cor- poration sues Tim Stafford on complaint. TRAFFIC AND MISDEMEANOR Pike Circuit Court Letica Jimenez Martinez charged with operating with a license, a class C misde- meanor. Eddie Butler charged with operating without a license, a class C misdemeanor. Quinn M. Sorensen charged with possession of marijuana, a class B misde- meanor. Miranda Kay Nixon charged with possession of marijuana, a class B misde- meanor. INFRACTIONS Pike Circuit Court Dalton M. Goslee charged with speeding in a 55 zone. Julia A. Meadors charged with speeding in a school zone. Doris M. Techaira-Santos charged with speeding in a 70 zone. Joseph Bishop charged with speeding in a 70 zone. Shadenna K. Fettinger charged with speeding in a school zone. Justin R. Martin charged with speeding in a school zone. Reggie L. Gerron charged with speeding in a 70 zone. Andrew P. Blaker charged with disregarding a traffic control device. Wendy Y. Henriquez Ramirez charged with speed- ing in a 70 zone. David W. Wilson charged with speeding. Taylor Connor Atkins charged with speeding in a 55 zone. Leroy A. Sumner charged with speeding in a school zone. Jason A. Woodall charged with disregarding a traffic control device. Gayle E. Gagne charged with speeding in a 70 zone. Yun Huei Jen charged with speeding in a 70 zone. Kole B. Trask charged with driving while suspend- ed. Shawn L. Deanecelli charged with speeding. Tyler W. Malott charged with speeding in a 70 zone. Mohamed A. Bah charged with speeding in a 70 zone. James R. Murphy charged with speeding in a 70 zone. Anthony Gonterman charged with driving while suspended. Marcia H. Hudson charged with speeding in a 30 zone. Logan W. Dixon charged with speeding in a 70 zone. Stephanie R. McCallum charged with speeding in a 55 zone. Klayton M. Kixmiller charged with speeding in a 70 zone. David L. Cullivan charged with seat belt violation. Mark A. Tieken charged with speeding in a 30 zone. Brandon K. Aragon charged with distracted driv- ing. Mitchell C. Dunn charged with speeding. Keandra D. Bluitt charged with speeding in a 70 zone. Jerrelle Taylor charged with driving while suspend- ed. Chloe L. Vincent charged with illegal u-turn on free- way. Rusten Fox charged with driving while suspended. Christine K. Kingrey charged with seat belt vio- lation. Christopher A. Weltz charged with driving while suspended. Madison M. Kult charged with speeding in a 70 zone. Samantha J. Kingrey charged with illegal u-turn on freeway. Logan A. Johnson charged with speeding in a 70 zone. Lawson D. Sinnis charged with speeding. Lauren C. Martinez charged with speeding in a 70 zone. Alicia N. Iles charged with speeding in a 70 zone. Dykota A. Burchell charged with speeding in a 55 zone. Taylor C. Foster charged with failure to change lanes for stationary highway main- tenance vehicle. Dear Rusty: I do not recall the rules on my income tax obligation for Social Securi- ty benefits. Can you explain these rules to me? Signed: Se- nior Taxpayer. Dear Senior Taxpayer: I'll be happy to review the rules about income tax on Social Security benefits for you. If your combined income from all sources is low enough, your Social Security benefits aren't subject to being taxed by the IRS. But some of your Social Security benefits will become taxable if your com- bined income from all sourc- es exceeds certain thresholds, and the thresholds are depen- dent on your tax filing status (single or married). If you file your income tax as "married-filing jointly" and your combined income from all sources (both taxable and non-taxable income) is less than $ 32,000, then your So- cial Security benefits aren't taxable. But if your combined income as a married couple is between $ 32,001 and $44,000, then half of the SS ben- efits you received during the tax year becomes part of your tax- able income. And if your combined income as a mar- ried couple ex- ceeds $44,000 then up to 85 per- cent of the SS benefits you re- ceived during the tax year be- comes part of your taxable in- come. Those SS benefits will simply be included as part of your taxable income and taxed at whatever your nor- mal IRS tax rate is. If you file your income tax as a "single" the thresholds at which Social Security ben- efits become taxable are dif- ferent. Single filers with a combined income of $25,000 or less pay no income tax on their benefits. But single fil- ers with combined income be- tween $25,001 and $ 34,000 will have half of their SS ben- efits received during the tax year become taxable, and sin- gle filers whose combined in- come exceeds $ 34,000 will see up to 85 percent of their Social Security bene- fits become taxable. These single filer thresholds apply also to those filing as Single Head of Household or Quali- fying Widow(er), and to those filing as "married-filing sepa- rately" if they lived apart for the entire tax year. But the threshold is zero dollars for married couples who file sep- arately but lived together at any time during the tax year. To clarify what "combined income" is – the IRS uses something called your Mod- ified Adjusted Gross Income, or "MAGI," to determine if your Social Security benefits should be taxed. Your MAGI is your normal Adjusted Gross Income (AGI) from your tax return, plus any non-taxable income you may have had, plus 50 percent of the Social Security benefits you received during the tax year. If your MAGI is over the thresholds described above, a portion of the SS benefits you received during the tax year will be in- cluded in your taxable income. If it is not, you pay no income tax on your benefits. To be sure you're aware, when you file as "married/ jointly" income from both partners counts when deter- mining your MAGI for income tax purposes. To submit a question, visit website (amacfoundation.org/ programs/social-security-ad- visory) or email ssadvisor@ amacfoundation.org. Must I pay Income tax on Social Security benefits? Social Security Matters By Rusty Gloor Sweet's Column By Barb Sweet Hi stars and welcome to the big stage all lit up in red, white and blue lights and decorated to help celebrate with all our stars who will have a birthday or anniversary in the week of June 1-8. Come up onto this stage and take a bow. BIRTHDAYS June 2-Skip and Elizabeth Sluder celebrate 53 years. June 3-Tyler Gross turns 35; Terrance Lee Lemond turns 2; Dan and Nancy Reutepohler celebrate 19 years. June 4-Happy Vinnedge turns 74; Mike Riley turns 68; Olivia Green turns 14; Mike and Brenda Riley cele- brate 44 years. June 5 -Dana Meyer turns 63. June 6 -Linda Nelson Daugh- erty turns 69; Tanya Vaughn. June 7-Jenn Deffendoll turns 42; Joshua D. Brauneck- er turns 35; Blayze Timothy Reavis turns 13; Matthew and Donna Shaw celebrate 19 years; Jeff and Lisa Jones cel- ebrate 15 years. June 8 -Skip Sluder. May all our stars have a re- ally great day and may all your wishes come true. Keep in your heart and in your prayers all our stars who have had surgery, treatments, doctor visits and aches and pains of everyday life; and who need that card, visit, phone call and that daily thought of them to have a happier day. Special thoughts and prayers for Ted, Laura, Tim, Katy, Sheila, Cindy, Melvin and Ray. EVENTS June 2-Winslow Lions Club meets at 6 p.m. at the Gam- ble's house. June 4-Pike County Sol- id Waste- Hazardous Waste/ Electronics day for Pike County Residents only from 9 a.m.-2 p.m., at the Pike Cen- tral High School parking lot. Flyers are out in all Pike County with what items can be tak- en; Cowboy Trail Challenge starts at noon at the Rockin' G. Sad- dle Club, conces- sion available by the Winslow Li- ons Club. June 9 -Petersburg Lions Club meets at 6:30 p.m. June 11-Winslow Parks Board will hold it's first annual 5K walk-run at the sports field and park starting at 8 a.m. June 13-Winslow Town Hall at 6 p.m. at the Snyder Com- munity Center. June 14-Flag Day Winslow senior citizens are meeting on Monday and Tues- day at the Snyder Communi- ty Center. Petersburg seniors meet in the courthouse base- ment. Send postcards and notes of interest to: Sweets Col- umn, Winslow, IN 47598. There were no cards or notes this week. Winslow Patoka River is high. The White River and Wabash were over their banks, but below floodstage by now. Thursday, May 19, we all had sever storms with a tornado warning thrown in, pea sized to baseball sized hail and winds lasting about half an hour. Oakland City was out of power from Thursday at 10 p.m. until Friday at 11 a.m. Saturday, when another storm came through, they were out of power for a shorter time. Saturday's storm brought heavy rain, hail and winds. We were in Francisco when the rain started, but when we got to Princeton, the water was too much for the drains to handle, so the streets were flooded. This was the first time I had seen this much wa- ter in Princeton. More storms came through while we were at Walmart, and after we started home, county workers were out on Ind. 64 to clean trees off the highway in several spots. On Sunday, in Campbelltown, lots of trees were in yards; and highway 61 was blocked from traffic. By Wednesday, May 25, we had more rain that will last late into Thursday. We should have gotten a total of one and a half inches of rain for the week. Max was with us as we drove to Princeton, so we gave him a spotter les- son to look at the clouds; and know that the rain clouds were covering a great distance and how to spot a wall cloud, then we were rain wrapped. The temps were high in the 80s then the dropped into the 50s to 60s, where the win- dows were closed and the heat turned up a tad for two days; and now the windows are open again for that nice breeze. Just about all fields that used to be yellow or purple are now plowed and planted with some fields showing small corn or beans of green. Rose bushes are in bloom; peonies are in bloom with white or purple flowers; there are tulips and other spring flowers of all col- ors; daylilies have buds; and my dogwood tree has its white flowers; ferns are growing tall- er; and there are white blooms on the sticker briers. Tim and Jeanette set out a rose bush and tomato plants and onions. The house plants are now out- side in the rock garden, under a shade tree for the summer. At Riverside Park the geese and goslings are eating the grass and clover. They are al- so seen in the fields across the road, and in a pond down at Twin Pitts. The Kendall kids stopped and viewed a deer in our area of town. And we have a few chickens that come in our yard to eat those bugs. The whole neighborhood has mowed and weedeated their yards for Memorial Day and the limbs that had fallen are now burnt to only ashes. Highway 64 from Hwy 57 to Arthur junction is almost paved, the north side of the road still needs to be paved. Highway 64 will soon be a smooth riding section of road like Number 7 road, that has a new topping. Petersburg side streets are getting a new topping of as- phalt and the highway 61 is still closed for the next stage of road and sidewalk repair. Laura had trouble breath- ing, so she went to the ER and she was admitted for almost a week. When she left the hos- pital she was told to stay home from work for another week to get her strength and breath back to normal. Mildred is doing well in Golden Living. The gas prices are rising, from $4.19 to $4.75 and even higher in the western states. If everything goes right, then on July 9, the "Clog the Patoka" will happen, so stay tuned for more information. The lights are about to dim for this week, but continue to keep an eye on family and friends. Slow down and enjoy the beauty all around you. Al- ways smile, wave and say "hi" to everyone you see this week.