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Articles filed under Barrington

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  • The Season of Giving? Dec 15, 2014 3:45 PM
    Just like the holidays, it’s never too early to begin planning for the 2014 income tax filing season. The following are several tax savings strategies aimed at helping taxpayers minimize their income tax bills. As always, please remember to speak with a qualified tax professional about your specific tax situation. Defer your income The basic idea is to shift income out of this year and into next year, thereby allowing you to postpone paying tax on the income for the time being. Here are several common examples of the application of this strategy: • Ask your boss to hold off on paying your bonus until January 2015. • Put more money into your tax-deferred 401(k) retirement plan before year end. • Make tax-deductible contributions to your IRA for the 2014 tax year by April 15, 2015. • Hold off on selling certain “appreciated” assets that will generate a capital gain until after the new year. • If you’re self-employed, delay sending customer invoices for year-end projects until after the new year. Accelerate tax deductible home expenses Owning your home provides two key tax deductions which you can use by year-end to reduce your current year’s tax bill. Make your January mortgage payment by Dec. 31 and deduct the mortgage interest on the extra payment on your 2014 tax return. The same is true for early property tax payments. Be sure to consider the impact, if any, of the Alternative Minimum Tax (AMT) on the accelerated property tax payment strategy as property taxes are not deductible under the AMT rules. Use a “bunching” strategy for certain types of deductible expenses Medical and dental expenses, to the extent they exceed 10 percent of your adjusted gross income (AGI) and miscellaneous expenses, to the extent they exceed two percent of AGI are deductible. The most common miscellaneous expenses are unreimbursed employee business expenses and investment management fees. To get over this deduction “hurdle,” consider combining eligible expenses. This strategy, known as bunching deductions, will push them into one tax year where you can make maximum tax use of them. Accelerate other deductible expenses into 2014 Unlike medical, dental and miscellaneous expenses, charitable donations are fully deductible without any AGI limitations. Consider making large charitable donations (either cash or non-cash) before year end to obtain the benefit of the deduction on this year’s return. Make sure that you maintain copies of all receipts for your charitable donations in the event of a tax audit. A donor advised fund is an excellent tool for coordinating your charitable giving program.

     
  • Trinity announces new scholarship initiative Dec 15, 2014 3:45 PM
    Deerfield, Ill. — Trinity College will host the inaugural Kenneth Kantzer Honor Scholarships Competition Feb. 6-7 to give invited students opportunities to receive one cost-of-attendance award, two full-tuition scholarships and a limited number of $20,000 and $15,000 awards. The invited students will have met specific scholarship requirements, received acceptance to Trinity for fall 2015 and gained acceptance to the honors program. They also must submit a completed Free Application for Federal Student Aid (commonly referred to as a FAFSA form) by Feb. 1. Invitations to the competition will go out in January and must be accepted no later than Feb. 1. The decisions of the judges will be released no later than Feb. 15. The competition is named in honor of Kenneth Kantzer, who was a professor of biblical and systematic theology and academic dean of Trinity Evangelical Divinity School from 1960-1978. Kantzer earned a doctorate at Harvard and provided leadership that enhanced Trinity’s academic reputation. “Trinity College has through the years attracted outstanding students from all across the country,” President David S. Dockery said. “As a part of our institutional commitment to the themes of heritage and hope, we want to ensure that the heritage of attracting top notch students continues, while also providing a sense of hopefulness for these and other students to consider preparing for the future under the guidance of the capable teaching faculty at Trinity. The new academic scholarship initiative is certainly a major step forward in this regard.” After several social events on Feb. 6, the competition on Feb. 7 will include time for personal interviews, group discussion and community building. An option to participate on Skype will be offered to students who cannot visit the campus. Tours of campus can be arranged for interested visitors. For information about participating in the competition, contact Jordan Bryant at 847-317-7076.

     
  • Algonquin Road reopened after crash in Barrington Hills Dec 9, 2014 10:01 AM
    Route 59 is closed at Algonquin Road due to an accident.

     
  • Mueller names director of entertainment, media and sports group Dec 9, 2014 6:01 PM
    Mueller, a CPA and management consulting firm, recently announced that accomplished entertainment and sports industry lawyer Brenda J. (Robinson) Casanave has been named director of the firm’s newly formed Entertainment, Media and Sports Group. Casanave will be based out of Mueller’s Elgin and Chicago office as she advises clients across the country.

     
  • Local Mom Develops Spiritual Website For Her & Kids Dec 15, 2014 3:21 PM
    The struggle of a small group of suburban Chicago mothers looking to find a spiritual outlet for themselves and their children has led to the introduction of Spiritual Playdate, an interfaith website that provides age-appropriate tools to foster dialogue and exploration of spiritual concepts and beliefs.

     
  • Dr. Yaroslav Yarmolyuk from Orthodontic Experts of Arlington Heights Has Achieved Invisalign Premier Provider Status Dec 15, 2014 3:21 PM
    Orthodontic Experts of Arlington Heights is proud to announce that Dr. Yaroslav Yarmolyuk is now a Premier Invisalign and Invisalign Teen Provider.

     
  • Join Santa and Mrs. Claus at Lake Zurich Holiday Inn Express and Suites Dec 15, 2014 3:21 PM
    The Holiday Inn Express and Suites in Lake Zurich has some very special holiday guests arriving this coming Friday for the Family Holiday Extravaganza! Santa and Mrs. Claus will be staying at the hotel, located at 197 S. Rand Road in Lake Zurich, from Saturday, December 13-Sunday, December 14.

     
  • Northwestern Mutual Honors Spengel with Forum Membership Dec 15, 2014 3:23 PM
    Northwestern Mutual is honoring Skokie financial representative Keith P. Spengel, CLU®, CLTC, CFP® with membership in its 2014 Forum Group, which recognizes individuals for an outstanding year of helping clients achieve financial security.

     
  • Sedgebrook woodworker brings new life to old finds Dec 8, 2014 1:18 PM
    Don Hollenbeck is disturbed by “move-in-ready” home makeover TV shows. “I can’t understand how people can just come into a place with things that someone else has picked out and set up for them,” said the woodworker and resident of Sedgebrook, a senior living community in Lincolnshire.

     
  • Sedgebrook residents honor veterans with ceremony Dec 8, 2014 9:31 AM
    In a solemn and inspiring ceremony, Sedgebrook residents honored veterans today: those now living beside them at the Lincolnshire retirement community, those lost in the four wars during their lifetime and all those who served in our military and their families.

     
  • Blue Christmas: Healing in the Midst of Grief at Immanuel Lutheran Church-Palatine Saturday, December 20th at 6:30 p.m. Dec 9, 2014 1:50 PM
    “Blue Christmas” is more than an Elvis Presley song. The pastoral staff at Immanuel Lutheran knows this. The sad reality is that many people are truly hurting during the holiday season, whether due to a death of a loved one, job loss, depression or a variety of other reasons.

     
  • Palatine Holiday Wine Tasting Fundraiser Hosted by C.A.T.I.F. Dec 9, 2014 1:50 PM
    C.A.T.I.F. [Celebrating All That Is Feminine] will be hosting their 2nd annual Holiday Wine Tasting Fundraiser on Wednesday, December 17 from 6-8pm at d'Vine Wine and Gifts. The Kappa Kappa Gamma GIRLS Academy is the beneficiary for the fundraiser. The organization provides support, mentoring

     
  • School officials unfairly burden taxpayers Dec 7, 2014 5:01 AM
    A Barrington letter to the editor: I’m living on what they call a fixed income. Of my real estate taxes, 78 percent goes to education. A “conservative” increase of 2.4 percent would be $184 on a house I bought years ago for $165,000. Tell me, where do I get another $184?

     
  • Cary-Grove teams make 2,000-lb. donation to local food pantry Dec 8, 2014 9:24 PM
    Approximately 50 Cary-Grove High School basketball players — freshman to seniors — collected approximately 2,000 pounds of food for the Cary-Grove Food Pantry over the weekend as part of the teams’ second annual food drive.

     
  • Districts 47, 155 school bus wins “Best Use of Lights” at Crystal Lake’s Festival of Lights Parade Dec 8, 2014 9:18 PM
    For the past three years, bus driver Stacey Balmes has been dreaming of ways to “dress up the bus” for the Festival of Lights parade that kicks off the holiday season in downtown Crystal Lake at the end of every November.

     
  • Stick to simple healthy hints to stay on track this holiday season Dec 5, 2014 10:52 PM
    Americans gain one to two pounds between the Thanksgiving feast and the New Year countdown. Some do not lose those extra pounds and add weight cumulatively every year. Simple, smart selections this holiday season can help avoid this annual obstacle and set up a positive start to 2015. “The best strategy for the holidays is to aim for weight maintenance,” said Laura Barr, Nutrition and Wellness Educator with University of Illinois Extension.

     
  • Arlington Heights man sentenced for choking woman in 2013 Dec 5, 2014 4:07 PM
    An Arlington Heights man who pleaded guilty last month to choking a woman during an argument was sentenced to three years in prison Friday. Cook County Judge Joel Greenblatt ordered Donald E. Stellato Jr., 39, to have no contact with the victim and granted her an order of protection through Dec. 5, 2023. “I saw the photographs of what you did to this woman. You’re lucky you didn’t kill her,” Greenblatt said.

     
  • Irish tenor brings ‘Christmas from Ireland’ to CLC Dec 16, 2014 12:17 PM
    Michael Londra, the Irish tenor best known as the voice of “Riverdance” on Broadway, will present “A Christmas from Ireland,” a performance told in song, dance and story.

     
  • Good Shephered wins award for stroke treatment Dec 4, 2014 5:27 PM
    Advocate Good Shepherd Hospital has received the Get With The Guidelines-Stroke Gold-Plus Quality Achievement Award for implementing specific quality improvement measures outlined by the American Heart Association/American Stroke Association for the treatment of stroke patients. Get With The Guidelines helps hospitals provide the most up-to-date, research-based guidelines with the goal of speeding recovery and reducing death and disability for stroke patients.

     
  • AOIIs Gather Twice: To Meet on Dec. 10 in Inverness and To Lunch on Dec. 17 Dec 5, 2014 7:01 AM
    AOIIs Gather Twice: To Meet on Dec. 10 in Inverness and To Lunch on Dec. 17

     
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