The Newscaster/Nature Coast News
PAGE 3 - February 20, 2008
Squawk Box
Tax Time Update
from page 1
Some of that money makes its way to charitable organizations, by way of player
foundations. The Tampa Bay Buccaneers, for example, are committed to helping the lives of
fans throughout the Bay area. Players, coaches, front office staff and their families are in-
2007 Tax Changes
volved in community appearances, partnerships with nonprofit organizations, charitable do-
by Rick Rubrigi, Tax Professional
nations, and outreach programs. Tampa Bay Buccaneers players with foundations benefiting
children, U.S. service personnel and others, include Michael Clayton, Jeff Garcia, Kevin Carter,
The Earned Income Credit (EIC) is a credit given to anyone who has earned wages,
Ryan Nece, Derrick Brooks, Josh Bidwell, Mike Alstott and Ryan Sims. Players on all of the
combat pay, disability pay, and/or is self employed.
teams have charitable foundations, as well.
Eligibility Requirements are: Filing Single, Married Filing Jointly, Head of House-
Super Bowl 42 brought much more than football to Phoenix area residents. More
hold, or Qualifying Widow(er). Married Filing Separately does NOT qualify for EIC. You must
than 40 charitable activities and community outreach programs enriched the community
be a U.S. Citizen or Resident Alien for the entire year. You must have a valid Social Security
throughout the pre-game week, providing lasting legacies. The week's activities also included
Number. Your Investment Income must be below $2900 (this includes Interest Income, Capital
the announcement of the annual Walter Payton NFL Man of the Year Award, which went to
Gains and Rental Income). You must be at least 25 years of age and under 65 at the end of 2007.
Miami's Jason Taylor - whose designated charity will receive a $25,000 donation in his name.
You cannot be a dependent of another person. Residents from Guam or Puerto Rico do not
Charities selected by the other 31 team finalists will each receive a $1000 donation and the top
qualify.
four finalists will each receive an additional $5000.
Here is a chart that shows the EIC limitations:
Dependents----------Income Range-----Maximum Credit Range-----Credit Amount
No Children ----------$ 1 - $14,590-------$ 5,600 - $ 9,000--------------$ 0 - $ 428
Hickory Island
1 Child----------------$ 1 - $35,241 --------$ 8,350 - $17,400--------------$ 0 - $ 2,853
2 or more Children---$ 1 - $39,783-------$11,750 - $15,400-------------$ 0 - $ 4,716
Call me, Rick Rubrigi, for any other tax advice at (352) 447-3383, or come to my office
"Preserving Florida's Southern Spirit"
located in the Chamber of Commerce Building, 167 Hwy 40 West, Inglis.
Citrus Commission Reacts to Economic Conditions
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Citrus County as a whole is currently experiencing tough economic times. The
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economic conditions affect Citrus County citizens, local business and government agencies.
In an effort to be more fiscally responsible and accountable during these times, the Board of
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County Commissioners has taken immediate action to reduce the current fiscal year budget.
Fri. & Sat. Nights,
To accomplish this, the Board has reduced its workforce by 35 positions in a five month period
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for a total savings of $1,148,733. "As a government entity it is our responsibility to do our part
Feb. 22 & 23
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in the best interest of our Citrus County taxpayers", said Joyce Valentino, Commission Chair-
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woman. "We must set the example and implement these reductions immediately".
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Citrus County citizens spoke loudly during the January 29th Amendment One refer-
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endum, voting by nearly 75% in favor. Tax reform is extremely important to the citizens of
48
Citrus County. The Board of County Commissioners is listening and has already taking a pro-
active approach as witnessed at their February 12th Board meeting. "Staff has been directed
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to reevaluate their budgets and bring back to the Board a 5% and 10% reduction scenario",
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said Valentino. "We need to know the program and service implications of such reductions".
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The Board plans on holding a future workshop to discuss the state of the county and a
financial update in lieu of their annual goal setting session. "Our most important goal this year
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