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JAN. 30, 2009<br />

Rotary backs,<br />

celebrates<br />

Mission<br />

OCEANSIDE — <strong>The</strong><br />

Oceanside Rotary Club was<br />

pleased to present $5,000<br />

checks to both Mission San<br />

Luis Rey and Mission San<br />

Luis Rey Parish<br />

Social Concerns from its<br />

Pacific Marine Credit<br />

Union/Oceanside Rotary<br />

Club crab and rib dinner<br />

held last September.<br />

<strong>The</strong> annual Crab and Rib<br />

Fest was held in the gardens<br />

of the Mission San Luis Rey.<br />

Mission San Luis Rey will<br />

use the donation for the continued<br />

restoration of the mission.<br />

Mission San Luis Rey<br />

Parish Social Concerns plans<br />

its donation to feed needy<br />

families from throughout the<br />

Oceanside community.<br />

<strong>The</strong> 83-member club<br />

also plans to host an Ethics<br />

Seminar in March 2009 for<br />

high school students, discussing<br />

ethics in the workplace<br />

and examining ways in<br />

which ethical leadership can<br />

be promoted in our institutions.<br />

<strong>The</strong> Rotary Club of<br />

Oceanside meets at El<br />

Camino Country Club on<br />

Fridays at noon.<br />

For more information,visit<br />

www.rotary oceanside.org.<br />

City seeks<br />

tennis<br />

players’<br />

input<br />

CARLSBAD — <strong>The</strong> city<br />

of Carlsbad will hold a workshop<br />

to hear ideas about the<br />

future of the Poinsettia Park<br />

Tennis Program from 5:30 to<br />

7:30 p.m. Feb. 5 at the<br />

Carlsbad Senior Center<br />

Auditorium, 799 Pine Ave.<br />

With the addition of<br />

seven new tennis courts,<br />

walkways, shade structures<br />

and spectator seating,<br />

Poinsettia Park is now home<br />

to the largest public tennis<br />

complex in the city.<br />

<strong>The</strong> city would like input<br />

on how to maximize the new<br />

tennis complex to meet<br />

TURN TO TENNIS ON A16<br />

HOT OFF<br />

THE BLOCK<br />

RICH MCCOY<br />

47 | SAN MARCOS<br />

I’d probably give up<br />

one of my businesses.<br />

I have several that I<br />

run. I can’t think of<br />

very much that I’m<br />

clinging to. I’m pretty<br />

unencumbered.<br />

COAST CITIES — As the<br />

economy continues to suffer the<br />

effects of the current recession,<br />

and as we enter the tax filing<br />

season, it may be worth noting<br />

that this year especially may be<br />

a year that all taxpayers take<br />

additional time to review all<br />

income, expense, and deduction<br />

items reported on their tax<br />

return.<br />

Important information<br />

regarding new tax incentives,<br />

tax credits, and increased<br />

benefits can be found in<br />

the Emergency Economic<br />

Stabilization Act of 2008.<br />

According to Kasey Ortiz at<br />

Jes Taxes in Oceanside, the extra<br />

time spent in reviewing the tax<br />

return may in fact provide many<br />

times more in the way of benefits<br />

resulting from the recently<br />

signed stimulus bill.<br />

Some highlights of the<br />

Stimulus Bill include:<br />

— More than 200 new tax<br />

law changes, incentives and<br />

credits for most taxpayers filing<br />

their 2008 tax return. A few<br />

important items included in the<br />

many changes are state and<br />

local tax deductions, Higher<br />

Education tuition deduction,<br />

deduction for Real Property<br />

Taxes Paid, and Teacher’s<br />

Classroom deduction<br />

— State and local tax deductions.<br />

This deduction was a part<br />

of the Jobs Creation Act of 2004<br />

and expired at the end of 2007.<br />

Under the new stimulus bill, this<br />

deduction has been extended<br />

retroactively back to Jan. 1,<br />

2008.<br />

— Higher Education Tuition<br />

deduction — <strong>The</strong> new law<br />

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RAY SOTO<br />

30 | SAN MARCOS<br />

Riding. It’s something<br />

I look forward to. I<br />

think it’d be a true<br />

sacrifice. I enjoy<br />

being out there, it’s<br />

my time away.<br />

THE COAST NEWS A9<br />

LORRAINE KEIZER<br />

34 | ESCONDIDO<br />

I would give up beer.<br />

That’s what’s most<br />

precious to me. It’d be<br />

a huge sacrifice to<br />

me.<br />

extends the above-line higher<br />

education tuition deduction<br />

allowed through Dec. 31, 2009.<br />

<strong>The</strong> new law places some filing<br />

status and income limits on the<br />

amount that is allowed but may<br />

provide benefits to many in<br />

reducing Adjusted Gross<br />

Income.<br />

— Deduction for Real<br />

Property taxes paid — For taxpayers<br />

who do not itemize<br />

deductions, the new law extends<br />

the additional standard deduction<br />

for real property taxes<br />

through 2009. <strong>The</strong> law allows<br />

$500 in additional standard<br />

deductions for taxpayers ($1,000<br />

for those filing Married Joint<br />

Returns).<br />

— Teacher’s Classroom<br />

deduction — For 2008 and 2009,<br />

If you had to give up something, similar to<br />

the tradition of Lent, what would you forgo?<br />

MATTHEW DEVRIES<br />

35 | ESCONDIDO<br />

I’d give up watching<br />

sports. Or TV. I feel<br />

like it’d be a sacrifice<br />

on my part. It’d<br />

within what I’d be<br />

able to do.<br />

TRAVIS SILLS<br />

29 | CARLSBAD<br />

I actually do practice<br />

Lent. In previous<br />

times I’d give up alcohol.<br />

Back then it’d<br />

matter more because<br />

I’d go out drinking<br />

every weekend. Now?<br />

Spending money<br />

that’s not necessary.<br />

teachers and other education<br />

professionals can deduct up to<br />

$250 above-line to reduce the<br />

Adjusted Gross Income for<br />

amounts paid in expense for<br />

books, supplies, equipment, and<br />

software used in the classroom.<br />

— Increased Child tax credits<br />

— <strong>The</strong> new law provides<br />

greater benefits for child tax<br />

credits.<strong>The</strong> credit is currently 15<br />

percent of the earned income in<br />

excess of $12,050. Under the<br />

new law, the earned income falls<br />

to $8,500, thus providing opportunity<br />

for more taxpayers to take<br />

advantage of this credit. In addition,<br />

the law changed the term<br />

“qualifying child” with respect<br />

to the age of a child and for joint<br />

return filers.<br />

— Increased fines and<br />

25%<br />

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for Home Buyers & Sellers<br />

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CHRISTINA ZEPEDA<br />

19 | ENCINITAS<br />

My phone. That’d be a<br />

real sacrifice. If I was<br />

really giving up something<br />

that’s important,<br />

that’d be mine. I<br />

text and call a lot.<br />

CLAUDIA SALAZAR<br />

19 | CARLSBAD<br />

I’d stop using swear<br />

words. If you’re going<br />

to give something up,<br />

it may as well be<br />

something you’re not<br />

supposed to do in the<br />

first place.<br />

Taxpayers should scrutinize stimulus bill<br />

penalties — In addition to the<br />

numerous tax incentives contained<br />

in the bill, the new law<br />

adds a number of new penalties<br />

and increases certain penalty<br />

amounts for accuracy issues for<br />

tax returns filed that may contain<br />

mistakes.<br />

Taxpayers are advised to<br />

review with their tax professional<br />

all of the many new tax law<br />

changes that will affect their<br />

2008 tax return filing. Most tax<br />

professionals should be willing<br />

to offer and provide a free consultation<br />

and review to determine<br />

if any changes in the law<br />

will benefit the filing of the<br />

return.<br />

For more information, call<br />

Kasey Ortiz at Jes Taxes in<br />

Oceanside at (760) 529-9825<br />

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