Tribune Columnist on the Wonders of FSAs

If your eyes glazed over when the HR rep at work begins to explain Flexible Savings Accounts that are taken right out of your paycheck, you missed out on the chance to save hundreds of dollars per year. That’s because FSAs can be used on a variety of medical expenses, and the money placed in them is tax-free income. Consequently, you can save an average of $450 per year by using an FSA. Now you’re paying attention! Columnist Gregory Karp gives all of the details in this recent column, which … [Read more...]

Big Savings on Taxes through Hobbies

There are actually several ways that you can turn that favorite pastime into a tax-deductible activity. Most taxpayers have no idea that they can write off time and money spent pursuing a passion if they frame it in the correct way on their return. This article gives several great tips on making your hobby work for you at tax time. It doesn’t involve any sleight of hand, either, just prudent record-keeping and an understanding of how that given hobby is used to generate income, yet can be costly … [Read more...]

National Guard site to create 100 jobs

The Governor’s office announced that the state would contribute $8 million for the construction of a new National Guard site on the campus for Heartland Community College.  The federal government will contribute $10 million in addition to the state’s contribution for the project. Construction of the project is expected to create approximately 100 new construction jobs in the area.  The completed project will house 22 full-time soldiers, about 200 part-time soldiers and be used by the college … [Read more...]

Objections to CTA’s crowd reduction plan

At a public hearing, the CTA’s plan to reduce overcrowding was criticized by some as nothing more than a plan by the CTA board to decrease bus routes to some areas.  Those opposed to the plan say that seniors, poor individuals and the disabled will be hurt the most because the plan calls for eliminating much needed routes in favor of increasing service to areas that see a higher rate of use. The plan is based on an analysis by Northwestern University.  Opponents of the plan argue that the CTA … [Read more...]

Gov. Christie’s star may be tarnishing a bit

A recent poll found 46 percent of voters in New Jersey felt it was time for a change when asked if they would re-elect Gov. Christie.  While this may not be a majority, it is close and it does reveal that voters may be getting tired of the Governor’s “comeback” speeches. The Governor is known for his aggressive and self-confident style; however, his tendency to promote himself was criticized by some at the GOP Convention.  Voters in New Jersey may want to see some actual work, in addition to … [Read more...]

SpongeBob Square Pants latest victim of Peregrine bankruptcy

Court documents filed this week by Peregrine’s bankruptcy trustee reports that approximately $20,000 worth of silver coins is missing.  In addition to the silver coins, 39 ounces of gold is also missing.  The gold would sell for $66,000 at current market values. The documents filed with the Bankruptcy Court give the first look at Peregrine’s assets and debts since the filing of the bankruptcy petition in July.  Unfortunately, the missing coins represent only a small amount when compared to … [Read more...]

Pilots create roadblock in American Airlines bankruptcy

Because it has been unable to finalize a deal with its pilots’ union, AMR Corp, the parent company of American Airlines, was allowed to force temporary work terms on union pilots by the US Bankruptcy Court.  However, this decision may create a bigger problem for the company in the future. If AMR is unable to resolve issues with the union and broker an acceptable contract with its pilots, creditors and investors of the company may push harder for a sale of the company to competitor, US Airways … [Read more...]