All Wrapped Up BY *1EBBIE RUPP Vice-President Fo Organizational Development South Brunswick Islands Chamber Of Commerce As another year draws to an end and Christmas day rapidly ap proaches we are driven to an almost frantic pace. Not only do we have gifts that need to be all wrapped up, but there are those unfinished projects, plans and new year's resolutions. Around mid-December, we suddenly realize that the year is almost over and we still haven't up iKa r",v; innnal JUilUUI, i vui l UllgVVl HIV storeroom, or lost that extra six pounds we put on last Christmas. We get all wrapped up with assess ing our annual accomplishments and making lists of everything we want to complete in the coming year. We're also getting all wrapped up at the South Brunswick Islands Chamber of Commerce. We held the last of our 1994 Business Breakfasts and Business After Hours. In November, the Business Education Department of Brunswick Community College hosted our Business Breakfast at Lions Paw and shared their current curriculum and future plans with the attending chamber members and guests. Our December Business After Hours was a tremendous success. Hosted by Waccamaw Cable and held at the chamber office, the evening was Filled with friendly exchange and cele bration of the blessings we have received throughout the year. We spot lighted many of the new business members that joined the chamber in 1994 and renewed our welcome and appreciation for all of our mem bers' participation and support. Each Breakfast and Business After Hours seemed to grow in atten dance this year, as many new faces have joined us. We look forward to continuing both the Breakfasts and After Hours meetings in 1995 and to seeing even more new members with each event. Hometown Holidays and the Annual Christmas Tree Lighting were a real thrill with active participation by so many of our local businesses and residents and, of course, Santa Ciaus. With our special events and fundraisers all wrapped up for the year, planning is already beginning for the 1995 schedule. Budgets are being evaluated and proposed, files reviewed and the annual Program of Work re-examined. We are working at a break-neck pace to get 1994 all wrapped up and prepare for another successful year. In the midst of all this planning and evaluating and wrapping up, we are reminded of the reason we celebrate the Christmas season and the basis for our resolutions and good intentions. We are also reminded that in the midst of our progress and prosperity, there are many families who are in need and do not share in our good fortune. There are many orga nizations throughout Brunswick County that would appreciate your help this year. Whether you donate time, clothes, money or a meal, you can give a gift that is all wrapped up in love. He was born and was offered as a gift from above He reminds us to give with our hearts full of love. He was all wrapped up in clothes tattered and old. He reminds us to give to the hungry and cold. Our lives get so cluttered with each project and plan. But most important are the gifts we give fellow man. Merry Christmas! Responses To Common Tax Questions Asked The end of the calendar year also represents the end of the tax year for most people. That means it's time to think about preparing your 1994 lax return. To help you get started, the N.C. Association of Certified Public Accountants provides the following answers to commonly asked ques tions. ? How many personal exemp tions may I claim? You may claim an exemption of $2,450 for yourself, your spouse and each dependent. However, personal exemptions are phased out based on your adjusted gross income (AGI). The phase-out thresholds for 1994 are $111,800 for single filers; $167,700 for married couples filing jointly; $139,750 for heads of household; and $83,850 for married persons filing separately. The ex emption amount is generally re duced by 2 percent for each $2,500 (or fraction thereof) by which your AGI exceeds these thresholds. ? Who qualifies as a dependent for tax purposes? Generally, dependents include your children, other relatives and members of your household as long as you provide more than 50 percent of their annual support. Gross in come and residency tests also apply. ? My 16-year-old daughter worked during the summer. Does she need to file a tax return? The answer depends on how much money she earned. A depen dent child must file a return if his or her earned income from a job ex ixeu.-? $3,800 oi .veil -employment in come exceeds $400. Be aware, how ever, that if a dependent child has unearned income ? such as interest on a savings account ? of more than $600, he or she needs to file a tax re turn. ? I got divorced this year. Since we were married for most of 1994, can I file a joint return with my ex-spouse? No. The IRS will use your marital status as of Dec. 31, 1994. Consequently, if your divorce was final before the end of the year, the IRS considers you single for the whole year. You must file a tax re turn as a single taxpayer, or, if you meet certain requirements, as a head of household. ? What requirements must I meet to file as head of household? Generally, to qualify as a head of household for 1994, you must be un married as of Dec. 31, 1994, and have furnished more than half of the cost of maintaining a residence for a relative who lived with you for more than six months of the year and who qualifies as a dependent, or is your child. Parents are the most common exception to this rale. They do not have to live with you in order for you to claim the head of household status. For example, if during the year you pay more than half the cost of a nursing home for your depen dent parents, you can still qualify as head of household. What mm 1 allowed to deduct for medical expenses? Only unreimbursed medical ex penses in excess of 7.5 percent of your AGI are deductible. Eligible expenses include fees paid to hospi tals and doctors, as well as amounts paid for prescription drugs, medical equipment (such as wheelchairs) and insurance. ? What are miscellaneous itemized deductions? These are qualifying expenses which are typically deductible to the extent that they exceed 2 percent of AGI. These include unreimbursed employee business expenses, job hunting expenses, expenses connect ed with producing income, expenses incurred to prepare your tax return or obtain tax advice, and other ex penses such as the costs of work clothes or union dues. For some high-income taxpayers, itemized de ductions are subject to phase-out rules. ? Who can take a deduction for IRA contributions? You can deduct your IRA contri bution if you and your spouse don't participate in an employer's retire ment plan; or you are covered by an employer plan and your adjusted gross income is under $25,000, if single, or $40,000, if married filing jointly. Once you satisfy either of these requirements, you can shelter up to $2,000 if single, and up to $4,000 if married and both spouses work. If only one spouse works, the most you can contribute is $2,250. ? What if I can't file my tax re turn by April 15? File Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. This form will give you until Aug. 15 to file your tax return. However, you still must estimate your tax bill for the year and pay any taxes that are due on or before April 15. If you have additional questions about your taxes, seek professional help from a CPA early in the year. Money Management is a weekly column on personal finance pre pared and distributed by the North Carolina Association of Certified Public Accountants. IN SOUTHPORT BRING HOME THIttEACON On Sal* At E-Z WAY GROCERY FOOOUON GENERAL STORE NEW YORK DEU POST OFFICE REV CO WILSON'S SUPERMARKET PHOTO COKTWtUTfO Winning Storefront Mary Roscoe (center) owner of Just Ixtvely Gifts in Sonrise Square, Sunset Beach, is congratulated for winning the South Brunswick Islands Chamber of Commerce annual Best Holiday Storefront Decor ations Contest. She is shown with Joe Stanley, SBI Chamber president , representing Joe and Moe 's Auto Services, and Jeanne Harris, contest committee chair, representing the Furniture Patch of Calabash. The gift shop 's decorations included a topiary, a Christmas wreath and sconces. PHOTO CONTUgUTTD Students Get Coats Waccamaw Assistant Principal Terry Chestnutt (left) and Principal Bill Shoemaker accept coats from Shallotte Wal Mart Manager Leon Graham that were donated by store employees. Several stu dents received the coats just before 40-degree temperatures arrived, and in time for Christmas. BUSINESS BRIEFS Bullock Earns GRI Title Evelyn Bullock of Rampage Realty has earned the pro fessional desig nation "Grad uate Realtor In stitute" (GRl). The Realtor Institute is sponsored by the N.C. Real Estate Educ ational Found ation and the N.C. Association of Realtors. It was the first of its kind in the U.S. and has served as a mod el for other states. Graduation from (he program re quires 90 hours of courscwork and 12 examinations on various aspects of the courses taken. About 10 percent of Realtors in the country hold the GRI designa tion. Earns Certificates Carol Houghton, a sales executive with ERA Callihan, Teal, Skellcy and Associates recently earned cer tificates for having completed cours es in advanced sales, marketing and relocation, and continuing education for Graduate Realtor Institute class es. Dissatisfied with CD or IRA rates? / Ca\\ me today! Richard C. Glenn PO Box 2865 Shallotte, NC 28459 (910)754-6771 SECURITIES AMERICA, INC. 1 8 Resort Plaza Shallotte Member NASD/SIPC DR. EDWARD F. ECKERT, JR. and DR. BRIAN C. HARSHA of Coastal Carolina Oral and Maxillofacial Surgery Associates, P.A. Our Little River office Is located at 303 Highway 90, Nixon's Crossroads Little River, SC 29566, 803-249-7810 Wednesday, 9 AM- 12:30 PM Thursday, l:30PM-4:30 PM For an appointment, call our Myrtle Beach ojflce 803-448-1621 We specialize In wisdom teeth removal. Implants. T.M.J. Surgery, Orthognathic Surgery and Cosmetic Facial Surgery. Deeds Office Reports More Than $68,000 In Collections More than $68,000 in revenue was collected by the Brunswick County Register of Deeds office during November, according to a moniiiiy report. Filings for November included 527 deeds, 379 deeds of trust, 40 plats, 95 Financing statements, 469 miscellaneous recordings and 36 marriage licenses. A total of $45,342 in excise tax was collected. Half of those funds, minus two percent for handling, or $22,218 was sent to the N.C. De partment of Revenue. Half of the fees collected for mar riage licenses, or $720, was remitted to the N.C. Department of Admin istration for the domestic violence center fund, which helps support Hope Harbor Home in Brunswick County. Five dollars of each mar riage license fee was sent to the state treasurer for the abused children's fund. Expenses in the register of deeds office during November included $323 for telephone, $142 for post age. $2,042 for maintenance and re pairs to equipment, $915 for depart mental supplies. $991 for scrvice maintenance contracts, $430 for dues and subscriptions and $788 for travel and training. Wages are not included in the re port 3iwvuf to- CAeney-'A fat JAost Special Qift\! srfaublhTS (910)579-8984 Breadwarmers ? Mugs ? Placemats ? Flags, Poles & Brackets ? 1995 Linen Calendar Towels ? Many Lighthouses Sale on Christinas Sweatshirts! Open this week 10-7:00 pm i Closing Christinas Eve at 5:30 pm f We will be open Monday, Dec. 26th for after-Christmas sales! Hwjr 9M bttawn Oomb bit ud Suwrt 229 * 1 2 1 Ct. Compare al '399 *25 Quick & Easy Cash you nnd to be ?? 11 I CA6 ?n<3 have positive 1.0 ? Irvr ' 3a, lo ? ? Courteous se