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Ottumwa Publishing
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Insert Inside! •••••DECEMBER 15, 2021•••••
As 2021 winds down, it’s a good time to assess whether there are opportunities to trim this year’s tax bill. Waiting until you begin to work on your tax return in early 2022 will be too late to save in most cases. So, if you’re interested in potentially saving on taxes, you should plan now, before Take Steps to Save On 2021 comes to 2021 Income Taxes Before an end. Consider if any of the Year Runs Out these actions make sense for you. Manage your deductions Wondering if you should itemize your deductions? For 2021, the standard deduction for a single person is $12,550, and for a married couple filing a joint return is $25,100. If your deductible expenses1 (such as mortgage interest, state and local income or sales taxes and property taxes) don’t exceed that amount, claiming the standard deduction may be best for you. For many people, this can be a close call – you might itemize one year and claim the standard deduction the next. To the extent possible, you may consider consolidating deductible expenses in one year to itemize and then claiming the standard deduction in the future. Make timely investment decisions Buying and selling investment decisions shouldn’t be based on tax considerations alone. If you own mutual funds in taxable accounts, you may receive a capital gain dividend before year’s end, which will be (Financial cont’d on page 2)
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retirement plan may reduce current taxable income while subject to tax. You may want helping you build savings for to avoid buying into a mutual the future. How much it may impact your current taxable fund late in the year if it is income is based on your on the verge of making a current tax rate and your filsizable capital gain payout. ing status. By doing so, you pick up a quick tax liability when the gain is paid, without benefit- Take full advantage of ing from the previous perfor- charitable contributions In 2021 only, an individual mance that generated the who doesn’t itemize deducgain. tions for the tax year may deduct charitable contribuWhile no one likes investtions of up to $300 ($600 ment losses, you may be able to use them to generate for a married couple filing a a positive result: a lower tax joint return). To be eligible, bill for a given calendar year. contributions must be made in cash to certain charitable The U.S. tax code requires organizations but not to that losses first offset gains donor-advised funds or cerof the same type. For example, short-term losses will tain private foundations. first offset short-term gains. Seek guidance Because of the higher tax rate for short-term gains, fo- If you are seeking to implecusing on short-term losses ment these or other significant tax-saving strategies, can have a more substanbe sure to check with your tial effect on your tax savfinancial and tax advisors for ings than long-term losses confirmation that the mea– especially if you are in a higher federal tax bracket. If sures you are implementing you didn’t have capital gains are the most appropriate for this year, you can use up to you. $3,000 in capital losses to reduce ordinary income. You 1 Subject to any applicable limitations. can carry over any remaining net capital loss to future Duane J Lusson, CFP, tax years until you use the ChFC, CLU, MSFS, is a loss. Private Wealth Advisor with Ameriprise Financial SerMaximize retirement plan vices, Inc. in Ottumwa, Iowa. contributions He specializes in fee-based Boosting pre-tax contribufinancial planning and asset tions to your workplace (Financial cont’d from page 1)
DECEMBER 15, 2021
management strategies and has been in practice for 30 years. To contact him, call 641-684-4200 or stop by his office at 527 W. Second in Ottumwa, Iowa. Investment advisory products and services are made available through Ameriprise Financial Services, LLC, a registered investment adviser. Ameriprise Financial, Inc. and its affiliates do not offer tax or legal advice. Consumers should consult with their tax advisor or attorney regarding their specific situation. Ameriprise Financial Services, LLC. Member FINRA and SIPC. © 2021 Ameriprise Financial, Inc. All rights reserved. File # 3884251-RUSH
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DECEMBER 15, 2021
Sara Lee and Subway
Not all of my days are good. Often, it’s little things I’ve allowed to become big things that cause me grief. I let minor issues fester like a tiny sliver in my finger. I may forget the sliver until I brush my finger just the right, or wrong, way. Then the pain flares up instantly, reminding me of its presence. How can something so small cause so much pain? Something small that’s been bothering me lately is Sara Lee - she’s not exactly on my good list these days. For years we’ve enjoyed Sara Lee, Old Style 12 Grain bread. It’s soft yet hearty; the flavor is perfect, and it has some sort of seed that sets the texture above other loaves of bread. And, it makes the best toast with a bit of butter on top. I haven’t the words to describe this heavenly delight. Unfortunately, though I love this bread, it’s no longer available - at least I can’t find it anywhere.
introduced “New Coke.” Consumers pressured the beverage company until they returned “Classic Coke” to the shelves. Maybe a similar strategy would work with Sara Lee.
I look for this particular bread in the store everywhere we travel. If I found it, I would buy all the loaves, take them home, and preserve them in a deep freezer. I would treasure my loaves the same way Coke lovers hoarded the “old Coca-Cola” when the company
I’m not obsessed, but I have attempted to call the company to ask why my bread was discontinued. Perhaps I could persuade them to reconsider their decision. Fortunately, I’ve always called after hours. I would probably sound like an idiot demanding to talk to Sara
personally. Bread is not the only little thing that trips my trigger. The other day I had to run several errands in Duluth. The grocery store is always my last stop on the way home, but this time, I went to Super One first to see if they had my bread. Nope. Why did I even stop? I knew I would be disappointed again. The rest of the day followed suit; every errand came with challenges. I looked several places for a
few everyday gadgets that would be little Christmas gifts, but nobody had all three items I sought. Discouraged and ready to give up, I still had to run to Target to pick up an order my wife placed online. Maybe they would have them.
ENTIRE PURCHASE IN-STORE ONLY. USE CODE
DECDEALS
LEVI
EXCLUDES POLY & OTHER OFFERS. PRESENT AT REGISTER. EXPIRES DEC. 31ST, 2021.
Everything in one store for your holiday shopping needs! WE ARE FULLY STOCKED. SHOP SOON & SHOP LOCAL. ENJOY FREE ICE CREAM, FREE POPCORN, & FREE COFFEE! WE HAVE “DECKED OUR HALLS” IN BEAUTIFUL CHRISTMAS DECORATIONS.
SHOP OUR LARGE SELECTION OF TOYS, KITCHENWARES, DECOR, BULK & SPECIALTY CANDY, FRESH BAKED GOODS, COFFEE & TEA, EVERYTHING YOU’VE COME TO LOVE ABOUT
DUTCH COUNTRY GENERAL STORE!
COME AND SEE!
SPECIAL HOLIDAY HOURS THURSDAY 12/2 SATURDAY 12/4 FESTIVAL OF TREES PARTICIPANT!
D THURSDAY 12/23 LOCATE OPEN UNTIL 8PM E H IN T CHRISTMAS EVE MAIN T E CLOSING AT 4PM E R T S OFFICE CHRISTMAS DAY
SATURDAY 12/11 FREE KID’S CRAFT! 11AM-2PM THURSDAY 12/16 OPEN UNTIL 8PM.
…my parking space… hot peppers…turned the tables…
It looked like my luck would For the rest of the story vist, change a bit as I pulled into ottumwapost.com. the Target parking lot. A lady parked close to the storefront was getting into her SUV. I drove down the lane, turned around, and returned, waiting to take her spot. Not
10% OFF
HOPE TO SEE YA REAL SOON!
wanting to crowd her, I left plenty of room to back out. I turned on my right turn signal, and I turned off my headlights to be courteous.
CLOSED
WORDS OF CHRISTMAS PARTICIPANT (STOP BY OUR STORE IN DECEMBER TO PARTICIPATE!)
17192 Highway 2, Bloomfield, IA | www.dutchcountrygeneralstore.com Mon-Fri 9am-6pm | Sat 8am-5pm | 641.722.3678
DECEMBER 15, 2021
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When “That will never happen to me” happens. I’m ready to help. There’s never a good time for an accident to happen. But when it does, you can count on me to be there quickly so you can get your life back to normal. GET TO A BETTER STATE . CALL ME TODAY. ™
Jim Carnahan, Agent 522 Richmond Ave Ottumwa, IA 52501 Bus: 641-682-3447 www.jcarnahaninsurance.com
State Farm, Home Office, Bloomington, IL 1101204.1
Ray’s Longbranch Homemade 1/2 lb. Tenderloins & Hamburgers Drakesville, IA • 722-3355
DECEMBER 15, 2021
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ARE YOU LOOKING TO ENTER THE WORKFORCE? Receive no-cost career services through National Able Network’s senior services today!
Call 855.994.8300 to learn more!
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DECEMBER 15, 2021
Valid Friday, December 17 - Sunday, December 19, 2021 at your Ottumwa Hy-Vee stores.
3-DAY SALE
Merry Christmas!
10 off
15 off
$
%
Any made to order Charcuterie board from our Delicatessen
All Christmas toys and hard goods select varieties
select varieties, ($50 retail or higher)
2/ 5
1.88
1.48
4.99
select varieties 15 oz.
4 lb.
select varieties 5 lb.
51 to 60 count 12 oz. pkg.
2/ 5
2/ 4
5.99
15
select varieties 6 to 11 oz.
select varieties 8.9 to 12 oz.
select varieties 24.2 to 30.5 oz.
$
On the Border chips
Hy-Vee pure cane sugar
$
$
Bear Creek soups
General Mills cereals
Hy-Vee flour
Fish Market Cooked shrimp
% off
Folgers coffee
regular price
all packaged Bakery fresh Christmas candy, pretzels, and almond bark select varieties 7 to 12 oz.
24.99
Floral 4" cypress tree with plush gnome
5.00
13.99
5.99
select varieties 27 to 29 oz.
with mashed potatoes & gravy.
2 pint entrées, 1 pint rice, 4 appetizers and 2 fortune cookies
Hot turkey or beef sandwich
each
$
10
Whole rotisserie chicken
HyChi dinner for 2
FREE $10
GIFT CARD
WITH $100 PURCHASE OF SELECT GIFT CARDS
1 DAY ONLY! DECEMBER 17, 2021 Limited to 1 offer per customer. Minimum $100.00 purchase required. Some exclusions apply. See store for details.
Ottumwa
Voted #1 Grocery Store and Wine & Spirits in Ottumwa!