community
І LeaderS
Continued from page 30
New Leadership
WRITTEN BY TOM SHELDON, WEST ST. TAMMANY CHAMBER OF COMMERCE MEMBER GULF COAST BANK & TRUST
EFFECTIVE LEADERSHIP is extremely important to the vitality and growth of any volunteer organization. Our chamber is fortunate to have a Board of Directors and Executive Committee comprised of a wide range of individuals who understand our purpose and mission. Together, they work to promote business in the community, provide programs and activities that benefit our 1,000 plus members, and strengthen the business climate of St. Tammany Parish. The 2011 Executive Committee has been recently elected. Each person has donated a great deal of time, energy and expertise to advancing our goals and objectives and has demonstrated leadership by accomplishing specific objectives critical to our mission. Our 2011 board chairman will be Lisa Blossman of City Business North Shore Report. Having served her first three-year term from 2003-2005, she was nominated to return to our board last year after
displaying outstanding leadership, adding to our financial growth and overall effectiveness in providing business support. The Executive Committee will also include: Kieran Weldon of Fauntleroy, Latham,Weldon, Barré Architects, Chair-Elect; Tom Sheldon of Gulf Coast Bank and Trust Company, Treasurer; Sandy Hughes with Hughes Consulting, Vice Chairman of Business Support; Melissa Hodgson of St. Tammany Parish Hospital, Vice Chairman of Communications; Cynthia Thompson with Merrill Lynch, Vice Chairman of Membership; and Scott Delacroix of Adams and Reese, Vice Chairman of Governmental Affairs. Michele Avery of LaPorte, Sehrt, Romig and Hand will remain on the Executive Committee as immediate Past-Chairman. On behalf of our membership, we thank these leaders for their commitment to serve in the challenging year ahead.
Our chamber is fortunate to have a Board of Directors and Executive Committee comprised of a wide range of individuals who understand our purpose and mission.
New Year—New Tax Season
WRITTEN BY DAWN SHARPE-BRACKETT, Sophisticated Woman | January 2011
EAST ST. TAMMANY
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AS THE NEW YEAR BEGINS, so does the preparation of taxes. In reviewing these topics with a local tax expert, he offered the following suggestions based on the laws in place at the time of this writing. Tax rates? The tax rates we have been subject to in 2010 now seem to be extended through 2011, and probably 2012. The top rate of 35 percent should remain in place, for now. Capital gains? Before we discuss the technical part of this, please heed this advice: IF you have unrealized losses in your non-qualified investments (outside of retirement plans) and have no losses yet in the year,
consider selling the “dogs” to create at least $3,000 of losses. You can always buy them back after 30 days. Meanwhile, the long-term (held over one year) capital gains rates should remain at their historic low of 15 percent. Dividend income will also follow this lower rate for this two year “extension.” Estate taxes? Talk about a “ping pong” area of the tax world. Ten years ago, the amount of your estate free from this “death tax,” was one million dollars, then up to $3,500,000 in 2009, then infinity in 2010 (yes, no tax on your already taxed worldly possessions), and now 2011? $5,000,000 is our new number, for two years.
CHAMBER OF COMMERCE CEO
IF you have unrealized losses in your non-qualified investments (outside of retirement plans) and have no losses yet in the year, consider selling the “dogs” to create at least $3,000 of losses.