Monday updates

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This week's Buzz of Northwest Georgia (click)

-Black Friday sizzled--but what about the rest of the weekend?
-Talk about fast delivery: New Pizza Hunt/WingStreet flying together.
-Monday's Focus: Tax tips to remember as the year concludes.
-NAIA's final four clash Saturday; winners due in Rome Dec. 19.
-Rome Young Republicans accepting gifts to send to service personnel.
-Peaks & Valleys: Ken McKenzie & the Darlington, Calhoun football teams.

John McClellan's picks for this Friday: Darlington advances to title game; Calhoun stumbles> Football Report

Your forecast:

-Monday: 80% chance of showers; high of 56, low of 35.
-Tuesday: Mostly sunny with a high of 60.
-Tuesday night/parade night: Low of 43, 90% chance of rain.
-Note: We will have parade weather updates all day Tuesday.

-Extended forecast> Click  /  Local radar  / regional radar

Downtown Headlines: (click)
-Tuesday evening's parade highlights big week downtown.

Norman Arey's Sports Roundtable> Arey

-Who are the coaches who can really win the 'big games'? Obama a curse for Irish

Georgia High School Football  Daily: Latest updates> Click

Sports/Rome Braves/State Mutual Stadium> Sports

-Dec. 5/Annual half-price sale at The Trading Post.

-NAIA playoffs set with final two winners due in Rome for national football championship game on Dec. 19> NAIA

-Registration, training begin for 3rd Berry Half Marathon March 6.

Black Friday sizzled -- but what about the rest of the weekend?

The reports we hear say Black Friday was an absolute hit with shoppers and retailers. Incredible turnout numbers were recorded at Mount Berry Square, Prime Outlets in Calhoun and at stores throughout the area. But what about Saturday? Our midday visits to several stores and shopping centers found moderate--make that average--weekend crowds. We were among a handful of customers in one office/electronics store around 1 p.m. Saturday. Look for final estimates today.

-Cyber Monday arrives: Today also is considered the boom day for online sales in the Christmas shopping season. But in a year where customers appear to be more anxious to pay cash vs. credit, what will it mean to online vendors?

Talk about a quick turnaround: New Pizza Hut/WingStreet

We had a few doubts last month when we broke the story about the Pizza Hut move to Martha Berry and resulting opening of Zaxby's in the current Turner McCall site. Organizers said the new shop across from Scant's Liquor would open in December. It looks like they'll nail it on the head, complete with the new WingStreet concept in tow. This photo is from Sunday afternoon; the lot was vacant several weeks ago.

-Johnny's update: We had pizza and a calzone at Johnny's New York Style Pizza in Cartersville on Saturday to get a preview of what's to come to Broad Street early next year. Our first impression: A thin-crust pie that tastes like a cross between Schroeder's New Deli pizza and a slice or two from Milano's.

NAIA's 'Final Four' this Saturday; last year's finalists still in the hunt: By Saturday evening, we'll know the two teams due in Rome Dec. 19 to decide the championship of the NAIA. Don't be surprised if we get a repeat of last year's game. This Saturday, Saint Xavier plays at defending champ Sioux Falls while Lindenwood is at Carroll College. Sioux Falls defeated Carroll in the 2008 NAIA title game staged at Barron Stadium last December> Details

Rome Young Republicans plan Saturday drop off for gifts to U.S. troops: From noon to 3 p.m. Saturday, Rome Young Republicans will be collecting gifts for troops in the parking lot close to Provino's at Midtown Crossing. They are accepting books, CDs, DVDs, magazines, puzzle books, electronic game devices  and powdered drink mixes that pour into individual water bottles.  These items will be shipped to those serving in Afghanistan and Iraq.  A second dropoff is set for Tuesday, Dec. 8, at the group's Christmas Party from 6:30 until 9 p.m. at 333 on Broad. Details: 706-853-9014 or e-mail romeyoungrepublicans@gmail.com. 

It may be the holiday season but it also is time to take some

money-saving steps as the 2009 tax year creeps to an end

By Natalie Simms

natsimms76@gmail.com

As the end of the year ticks closer, now is the time to begin reviewing your taxes. With all the ups and downs of the economy, next year may bring lots of tax changes as lawmakers face a record-high deficit.

So before some of this year's various tax credits expire, you still have a few weeks to maximize savings on your 2009 taxes.

One of the biggest credits is for first-time home buyers. Congress extended the previous benefit that was to expire today and the new rules took effect Nov. 6.

According to the Wall Street Journal, the provision is a true dollar-for-dollar tax credit of up to $8,000 for 10 percent of the cost of a home. The credit also is refundable, meaning that even if a buyer doesn't owe $8,000 of tax, he or she can claim the full benefit and receive a refund check.

The new law has more generous phase-outs. The credit now begins to disappear for single taxpayers with modified adjusted gross incomes of $125,000 and married couples with incomes of $225,000.

It is available for purchases through July 1 if the buyer has a contract in place before May 1. Unlike the prior deal, however, this credit is capped: those buying homes for more than $800,000 get no credit at all, as of Nov. 6. For more, click Here

And, if you're thinking about buying a new car, now is the time if you want to save. If you purchase a new car by Dec. 31, you can deduct all sales and excise taxes from your federal return, up to the first $49,500 of the purchase price. Also, there are additional credits if you purchase a hybrid vehicle. For more information, visit Here.

Accountant, Lee Jennings with R.L. Jennings and Associates in Rome, said there are lots of areas to look for tax savings, including home improvements, medical expenses, charitable giving, retirement savings, business expenses and unemployment costs.

According to Jennings, here are some things to consider when reviewing your 2009 taxes for additional savings:

Your home:

-First-time homebuyer credit for 10 percent of purchase price up to $8,000 if purchased by April 1 (current tax year). You can amend your tax return or wait and file next time. There also is an $1,800 credit available for the state of Georgia to be filed on the 2009 return. 

-If you make certain energy-savings improvements to your home during 2009, you may qualify for a tax credit. These improvements must be for high-efficiency home heating and air conditioning systems, water heaters and biomass stoves. This also includes storm windows, storm doors and skylights. The credit is 30 percent of cost and caps at $1,500.
-Property taxes and home interest are still deductible. Pay your property taxes by Dec. 31 to get a current year deduction. PMI insurance also may be deductible depending on your income level.

Medical
-The cap of 7.5 percent of adjusted gross income still applies so lump medical deductions into this year.
-Remember to spend your flexible spending account, medical savings accounts and health savings accounts. These may be negatively affected by purposed changes under the health care reform bill.

Charity
-Donate to your favorite charity.
-This is the last year that you can have your financial advisor make a tax free transfer up to $100,000 to your favorite charity and get the deduction. This allows you to donate a part of your IRA account to a charity and you will not have to pay any tax on the transfer. You must be 70 ½ years of age to take advantage of this, because at that age you are required to take minimum distributions from your IRA accounts and if you don't need the money, it is a good way to help your favorite charity.

-Donate clothing, furniture, etc, to one of many charities and receive a tax deduction.

Retirement
-Maximize the amount you put in your 401(k), IRA or other retirement plan.
-In 2010, you can convert your traditional IRA to a Roth IRA and defer and spread the tax over the next two years.

Miscellaneous: Job search, unemployment, gifts to others.
-If unemployed in 2009, those job search costs may be deductible.
-The first $2,400 of unemployment compensation is not taxable in 2009.
-With the many storms and other natural disasters, you may qualify for a casualty loss on the part of the damage not covered by insurance.

-If you have some investments that have losses, sell them and take a $3,000 capital loss.

-Buy new business equipment and take the 50 percent bonus depreciation.
-Educators, don't forget the $250 deduction on supplies bought for the classroom.
-You can gift up to $12,000 tax free in 2009.

For more information, visit www.romecpa.com.

Peaks and Valleys:  The highs and lows of Northwest Georgia

Peak to the Rev. Ken and Vicki McKenzie:

Here's a sample of just how selfless the Rev. Ken McKenzie of Westminster Presbyterian Church really is. Just after dining on tenderloin, asparagus and bread at a farewell party, McKenzie started fiddling with his cell phone. "Gotta go," he said, rising from the large table with friends looking on, expecting one of his normal jokes. No joke that night: A series of shootings necessitated his going to Floyd Medical Center to be with the families and victims. The McKenzies have been an active couple during their nearly 10-year stay in Rome, especially in working with 211 and Keep Rome-Floyd Beautiful. But duty calls and as of Jan. 4, McKenzie will be the new General Presbyter for the Savannah Presbytery. As much as we hate to see them go, we know the church gains a very active, involved couple in South Georgia. Details

Peak to the Darlington and Calhoun football teams: Most wrote Darlington off three weeks into the season following consecutive losses. Calhoun was picked to be good--and turned out to be stellar, topping the AA polls for most of the season. Now

both head to the semi-finals in their respective divisions. Wins this Friday put both teams in the finales. We paraphrase ESPN's Chris Berman in thinking both teams "could go all the way."

 

Valley to the big-box retailers and 'holiday' tactics: You'll find newspaper and Web reports on angry shoppers who discovered the "door buster" specials were gone within minutes of the store's opening. A great deal on a Netbook got us to Sam's on Friday only to discover -- per the snarky sales clerk -- that just 12 had been ordered. She noted that with a bit of glee, we add. We left on that note immediately. These big-box retailers have been whining about slow sales all year; nothing like dampening potential future customers with such shoddy tactics and poor attitudes.