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Send your photos of your local storm damage to:
Summary: Record rainfall yesterday (see Storm Report below), windy and chilly.
Past 24 Hours High/Low/Gust/Rain…
Lincoln City: 45F/39F/42mph/2.04”
Depoe Bay: 44F/39F/43mph/2.11”
Newport’s 4.44 inches of rain yesterday was the wettest day ever in February since 1893 when official records began being kept. The previous wettest was February 8th, 1899, with 4.00 inches. Also, yesterday was the 7th all-time wettest day ever recorded since 1893.
Since the last 24-hour dry break ended on February 2nd, Newport has received 6.59 inches of rain. The normal monthly rainfall total for February is 8.68 inches.
Newport Airport Conditions…
Ceiling: scattered @ 1,300’ & 1,800’, broken @ 2,600’
Visibility: 10 miles/Wind: SW 13 mph G29/Altimeter: 29.51”
Forecast: The heavy rain tapers off to showers today and tonight, a bit of hail possible, precip between a quarter and a half inch, southwest winds 10-15 mph gusting 20, high near 45F and lows of 35-40F. We’re down to a 50-50 chance of rain tomorrow, warmer, with the thermometer climbing to about 50F and light east winds. Outlook is for rain Wednesday and Thursday, showers Friday, then dry under partly sunny skies Saturday and mostly sunny on Sunday. Temperatures return to seasonal as highs reach 50-55F and lows dip to 40F or so.
Be sure to follow Weather or Not’s Twitter feed to keep current on Winter’s rapidly changing conditions. You’ll get updated travel info and notification of any new advisories, watches or warnings. Follow @chrisburnswx.
Travel: A Winter Weather Advisory remains in effect for much of Northwest Oregon for varying amounts of snow today, from an inch or less in parts of the Valley and Portland Metro to 3-6 inches in the Coast Range and Cascades.
In the Coast Range this morning, there’s mainly wet pavement and 33-35F in the passes. Willamette Valley highways are also mostly just wet, temperatures 35-40F. The Columbia River Gorge has wet pavement, thermometer readings near 35F. For the Cascades, it’s snowing with packed snow on the highways, chains required over the passes, temps 25-30F. * An interactive map of the latest Northwest/Central Oregon travel weather is available here. Also, motorists should always visit ODOT’s TripCheck before hitting the road.
Marine: Winds are WSW 25-30 knots gusting 35 this morning with choppy seas 7-8 feet at 9 seconds. A Small Craft Advisory for hazardous seas is in effect through this afternoon. A Small Craft Advisory for winds is in effect through this evening. Strong southerlies expected Thursday with swells building to 20 feet. * Full text of the latest marine forecast is available here. And, make sure you check the latest Bar Reports before venturing offshore.
On the Beach… Showers, breezy, surf 4-6 feet (low).
* For a safe and enjoyable time on the Central Coast, the Oregon Parks & Recreation Department offers these Beach Safety Tips.
02/06 Mon 07:43 AM 9.02 H
02/06 Mon 02:47 PM 0.36 L
02/06 Mon 09:27 PM 6.73 H
02/07 Tue 02:26 AM 3.69 L
In Short: Showers, windy, rainy and breezy, then clearing and drying.
Tax Tips for the Self-Employed
By Duane J. Silbernagel
Being self-employed has many advantages — the opportunity to be your own boss and come and go as you please, for example. However, it also comes with unique challenges, especially when it comes to how to handle taxes. Whether you’re running your own business or thinking about starting one, you’ll want to be aware of the specific tax rules and opportunities that apply to you.
Understand the self-employment tax
When you worked for an employer, payroll taxes to fund Social Security and Medicare were split between you and your employer. Now you must pay a self-employment tax equal to the combined amount that an employee and employer would pay. You must pay this tax if you had net earnings of $400 or more from self-employment.
The self-employment tax rate on net earnings (up to $127,200 in 2017) is 15.3%, with 12.4% going toward Social Security and 2.9% allotted to Medicare. Any amount over the earnings threshold is generally subject only to the Medicare payroll tax. However, self-employment and wage income above $200,000 is generally subject to a 0.9% additional Medicare tax. (For married individuals filing jointly, the 0.9% additional tax applies to combined self-employment and wage income over $250,000. For married individuals filing separately, the threshold is $125,000.)
If you file Form 1040, Schedule C, as a sole proprietor, independent contractor, or statutory employee, the net income listed on your Schedule C (or Schedule C-EZ) is self-employment income and must be included on Schedule SE, which is filed with your Form 1040. Schedule SE is used both to calculate self-employment tax and to report the amount of tax owed. You can deduct one-half of the self-employment tax paid (but not any portion of the Medicare surtax) when you compute the self-employment tax on Schedule SE.
Make estimated tax payments on time
When you’re self-employed, you’ll need to make quarterly estimated tax payments (using IRS Form 1040-ES) to cover your federal tax liability. You may have to make state estimated tax payments as well.
Estimated tax payments are generally due each year on the 15th of April, June, September, and January. If you fail to make estimated tax payments on time, you may be subject to penalties, interest, and a large tax bill at the end of the tax year. For more information, see IRS Publication 505, Tax Withholding and Estimated Tax.
Invest in a retirement plan
If you are self-employed, it is up to you and you alone to save sufficient funds for retirement. Investing in a retirement plan can help you save for retirement and also provide numerous tax benefits.
A number of retirement plans are suited for self-employed individuals:
• SEP IRA plan
• SIMPLE IRA plan
• SIMPLE 401(k) plan
• “Individual” 401(k) plan
The type of retirement plan you choose will depend on your business and specific circumstances. Explore your options and be sure to consider the complexity of each plan. In addition, if you have employees, you may have to provide retirement benefits for them as well. For more information, consult a tax professional or see IRS Publication 560, Retirement Plans for Small Businesses.
Take advantage of business deductions
If you have your own business, you can deduct some of the costs of starting the business, as well as the current operating costs of running that business. To be deductible, business expenses must be both ordinary (common and accepted in your field of business) and necessary (appropriate and helpful for your business).
Since business deductions will lower your taxable income, you should take advantage of any deductions to which you are entitled. You may be able to deduct a variety of business expenses, such as start-up costs, home office expenses, and office equipment.
Deduct health-care expenses
If you qualify, you may be able to benefit from the self-employed health insurance deduction, which would enable you to deduct up to 100% of the cost of health insurance that you provide for yourself, your spouse, your dependents, and employees.
In addition, if you are enrolled in a high-deductible health plan, you may be able to establish and contribute to a health savings account (HSA), which is a tax-advantaged account into which you can set aside funds to pay qualified medical expenses. Contributions made to an HSA account are generally tax deductible. (Depending upon the state, HAS contributions may or may not be subject to state taxes.)
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Slides, Flooding and Sewer Overflows Due to Heavy Rains
Due to sustained heavy rain beginning earlier this afternoon, the City has experienced several slides, localized flooding, and several sewer pump station overflows.
Big Creek road is currently closed above the lower dam due to a slide across the road. City crews will be working with a local contactor to open the road as soon as possible.
Bay Boulevard was closed this evening west of SE Fogarty Street due to a slide that covered part of the road and damaged several vehicles. Public Works crews have cleared the debris from the road and will be working with the Port of Newport to clear the rest of the debris from the adjacent Port parking lot.
Nye Creek overtopped its banks at Sam Moore Park north of SW 6th Street and ran down SE Coast Street flooding several businesses in Nye Beach. Water in the street was 18” deep at SW Coast and Beach Street. Surcharged storm drains caused local flooding in several streets including SE Harney at Yaquina View School, Bay Boulevard & Fogarty Street, and Avery Street between the City of Newport Recreation Center and 60+ Center.
Several wastewater pump stations began overflowing this afternoon beginning around 5 pm including the Nye Beach Pump Station, the Schooner Creek Pump Station and the Bay Front Pump Station.
Signs warning of the recent sewage overflows are posted at the affected areas and sampling is being conducted to determine when the water is safe for contact. Contact with water contaminated with bacteria can increase the risk of disease. Please avoid contact with these waterbodies until further notice.
Please contact the City of Newport Public Works at 541-574-3366 with any questions.
Hidden Valley Road between Newport area and Toledo is blocked completely at milepost 11 due to a landslide.
Deputy Sheriff enroute to the slide was stopped by torrent of water crossing Hidden Valley Road just a half mile in from Yaquina Bay Road. Can’t proceed.
Report of a tree down onto Highway 20, milepost 11. Blocking one lane.
Report says the tree is not a big one. The local neighborhood chain-saw association should have it sliced and diced pretty quick. But until they do, heads up!!
Car traveling 101 near milepost 154, near Legion Road, a mile north of the Waldport Bridge hit a flood of water surging over the highway. The car went out of control and landed in a ditch with water flowing through the car. Emergency responders are enroute.
Passer-by pulled the car out. Driver seems okay. But the driver inadvertently released the parking brake, so he’s back in the flood-roaring ditch. Sheriff’s deputy now on scene. Will pull the car out for the second time.
Big falling tree crashed down onto Highway 34 a mile east of Waldport. Blocking both lanes.
Reports of high water across Highway 101 a mile north of the Alsea Bay Bridge. One report is that it’s 2′ deep, especially on the northbound side of the highway. All in the vicinity of Driftwood Village.
A couple of miles south of Driftwood, in downtown Waldport, there’s high water on Highway 101 at the seawall.