Traffic crash on Hwy 20 a mile east of Newport

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Apr 162018
 

4pm
Report of a traffic crash about a mile east of Newport. Details unavailable. One report of possible debris on the road and one damaged vehicle pulling in to town. But Newport Fire could not find any sign of a crash.

Letter to the Editor: Russel Baldwin for Circuit Court Judge

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Apr 162018
 

The following Letter to the Editor expresses strictly the views and opinions of the writer – not necessarily the views and opinions of NewsLincolnCounty.com, staff and management.
===================================================================

ELECT ~ Russell Baldwin for Judge!

I am writing in support of Russ Baldwin’s candidacy for Circuit Court judge, because I believe him to be an ethical, well-qualified person who is concerned about justice for the citizens of Lincoln County. As a civil litigator with over 30 years of experience, Russ would bring a wealth of experience to the bench. Our current judges are all former prosecutors, and while I have nothing against prosecutors (having been one myself for over 30 years), I recognize the importance of having judges on the bench with experience in both civil and criminal law. Those areas of practice are very different from one another, and involve the application of different bodies of law, rules and procedures. Russ’s extensive experience in civil law will bring much-needed balance to the Court which, I believe, will benefit both the judicial system and the citizens of Lincoln County.

Creight Horton,
Former Prosecutor
Lincoln County Resident

Newport utility rates going up???

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Apr 162018
 

Whither water?


A Newport public informational meeting will be held next Thursday to review a utility rate study for the city to determine whether some people aren’t paying enough while others are paying too much. Everyone gets down to business on the issue next Thursday, April 19th at 6:00 P.M., at City Hall, 169 SW Coast Highway.

City officials will try determine whether current utility rates can generate sufficient and sustainable revenues to operate, maintain, and rebuild the water, sewer, and storm sewer systems in the city, and whether the rate structure is fairly allocating the financial responsibilities for the system across the various types of utility customers.

The city website at http://newportoregon.gov/dept/fin/utilitybilling.asp includes the Utility Fact Sheet sent to all utility billing accounts, along with the PowerPoint presentation that FCS group used when presenting the outcomes of the study to the City Council on February 5, 2018.

City officials say they hope to see lots of residents on Thursday, April 19th at 6:00 P.M., at City Hall, at 101 and Angle.

The Standard Deduction and Itemized Deductions After Tax Reform

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Apr 162018
 

Click here for Details

The Standard Deduction and Itemized Deductions After Tax Reform
Provided By: Duane J. Silbernagel

The Tax Cut and Jobs Act substantially increased the standard deduction amounts for 2018 to 2025. It also eliminated or restricted many itemized deductions for those years. After 2025, these provisions revert to pre-2018 law. You can generally choose to take the standard deduction or to itemize deductions. As a result of the changes, far fewer taxpayers will be able to reduce their taxes by itemizing deductions.

Standard deduction

The standard deduction amounts are substantially increased in 2018 (and adjusted
for inflation in future years).

Note: The additional standard deduction amount for the blind or aged (age 65 or older) in 2018 is $1,600 (up from $1,550 in 2017) for single/head of household or $1,300 (up from $1,250 in 2017) for all other filing statuses. Special rules apply if you can be claimed as a dependent by another taxpayer.

Itemized deductions

Many itemized deductions have been eliminated or restricted. The overall limitation on itemized deductions based on the amount of adjusted gross income (AGI) was eliminated. Here are some specific changes.

Medical expenses: The AGI threshold for deducting unreimbursed medical expenses was reduced from 10% to 7.5% for 2017 and 2018, after which it returns to 10%. This same threshold applies for alternative minimum tax purposes.

State and local taxes: Individuals are able to claim an itemized deduction of up to only $10,000 ($5,000 for married filing separately) for state and local property taxes and state and local income taxes (or sales taxes in lieu of income taxes). Previously, there were no dollar limits.

Home mortgage interest: Individuals can deduct mortgage interest on no more than $750,000 ($375,000 for married filing separately) of qualifying mortgage debt. For mortgage debt incurred before December 16, 2017, the prior $1,000,000 ($500,000 for married filing separately) limit will continue to apply. A deduction is no longer allowed for
interest on home equity indebtedness. Home equity used to substantially improve your home is not treated as home equity indebtedness and can still qualify for the interest deduction.

Charitable gifts: The top percentage limit for deducting charitable contributions is increased from 50% of AGI to 60% of AGI for certain cash gifts.

Casualty and theft losses: The deduction for personal casualty and theft losses is eliminated, except for casualty losses attributable to a federally declared disaster.

Miscellaneous itemized deductions: Previously deductible miscellaneous expenses subject to the 2% floor, including tax preparation expenses and unreimbursed employee business expenses, are no longer deductible.

Alternative minimum tax (AMT)

The standard deduction is not available for AMT purposes. Nor is the itemized deduction for state and local taxes available for AMT purposes. If you are subject to the alternative minimum tax, it may be useful to itemize deductions even if itemized deductions are less than the standard deduction amount.

Year-end tax planning

Typically, you have a certain amount of control over the timing of income and expenses. You generally want to time your recognition of income so that it will be taxed at the lowest rate possible, and time your deductible expenses so they can be claimed in years when you are in a higher tax bracket.

With the substantially higher standard deduction amounts and the changes to itemized deductions, it may be especially useful to bunch itemized deductions in certain years; for example, when they would exceed the standard deduction. Thus, while this might seem counterintuitive from a nontax perspective, it may be useful to make charitable gifts in years in which you have high medical expenses or casualty losses.

In this environment, qualified charitable distributions (QCDs) may be even more useful as a way to make charitable gifts without itemizing deductions. QCDs are distributions made directly from an IRA to a qualified charity. Such distributions may be excluded from income and count toward satisfying any required minimum distributions (RMDs) you would otherwise have to receive from your IRA. Individuals age 70½ and older can make up to $100,000 in QCDs per year.

I hope you found this beneficial and informational. For more information about me and my services, visit my website: www.duane.wrfa.com.
Thank you for your interest.

Duane Silbernagel is a Financial Advisor in Lincoln City, Oregon offering securities through Waddell & Reed, Inc., Member FINRA and SIPC. He can be reached at (541) 614-1322 or via email at DSilbernagel@wradvisors.com. 

This article is meant to be general in nature and should not be construed as investment or financial advice related to your personal situation. The article was written by an independent third party, Broadridge Investor Communication Solutions, Inc. (Copyright 2018) and is provided for informational and educational purposes only. Waddell& Reed is not affiliated with www.newslincolncounty.com website and is not responsible for any other content posted to this website.  (04/18)

Pancakes For People…

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Apr 162018
 

Shangri- La’s Pancakes for People

Saturday, April 21
8 a.m. – 11 a.m.
Newport Elks Lodge
45 SE Moore Road in Newport

Join us for a breakfast fundraiser to help people with disabilities reach their full potential. Breakfast includes pancakes, sausage links, coffee and orange juice. Family-friendly!
Encouraged Donation

$6 adults (13 years of age and older)
$3 children (12 years of age and younger)
Free admission for children 3 years and younger.
Questions? Call 541-265-4015, x302.

Sponsors for the event are Pig n Pancakes and the Elks Lodge

For Info Click Here

North Lincoln County Democrats gear up…

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Apr 162018
 


The third meeting of the newly formed Lincoln City Democratic Club by the Sea, an affiliate of the Lincoln County Democrats, will be held on Thursday, April 19, from 6:00 to 7:30 p.m. at the Lincoln City Community Center, 2150 NE Oar. The purpose of the Club is to give a presence for Democrats in the north county to be involved in local races. All Democrats from Depoe Bay to Otis are welcome and encouraged to attend.

For more information, go to www.lcdcc.org/lincolncitydems or just click here.

Click here for details

Antique and Collectables Sale at Trinity Methodist Church April 26-28th, Toledo

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Apr 162018
 

Trinity United Methodist Church –
Just west of C&K Market on Business 20.

Antique & Collectables Sale by church ladies and friends is coming Thurs. through Sat. April 26, 27, 28. This is the 5th year for the sale, which is held at Trinity Methodist Church in Toledo.
Thursday is Preview night, 6:00 to 8:00 pm. $2.00 admission, this night only, will be donated to Toledo Food Share.

Friday and Saturday are free of charge and hours are 8:00 am to 4:00 pm each day.

An amazing variety of items will be available for reasonable prices. Also featured will be small packages of baked goods and candies for $1 each. Sale location is the church basement, 383 N. E. Beech Street, across from JC Sentry Market.

Click here for info