Tallies for South Inishowen

first_img Facebook Loganair’s new Derry – Liverpool air service takes off from CODA By admin – May 25, 2019 Arranmore progress and potential flagged as population grows Google+ Twitter Facebook Tallies for South Inishowen Mickey Doherty FG 5.2%Jack Murray SF 16.8%Sinead Stewart Ind 4%Joe Murphy Aontu 2.2%Paul Canning FF 24%Mark McKinney Ind 1%Terry Crossan SF 10.3%Michelle McKenna FG 4%Frankie Lavelle Ind 4%Nicholas Crossan Ind 11.4%Rena Donaghey FF 16.9% Homepage BannerNewsx Elections 2019 Google+ WhatsAppcenter_img Nine til Noon Show – Listen back to Monday’s Programme Twitter Previous articleTrends beginning to show in Inishowen and Letterkenny areasNext articleTallies for North Inishowen admin RELATED ARTICLESMORE FROM AUTHOR Pinterest WhatsApp Pinterest Important message for people attending LUH’s INR clinic Publicans in Republic watching closely as North reopens further Community Enhancement Programme open for applications last_img read more

Retirement savings outlook in a Clinton or Trump administration

first_img 77SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Dennis Zuehlke Dennis is Compliance Manager for Ascensus. Mr. Zuehlke provides clients with technical support on tax-advantaged accounts (including individual retirement accounts, health savings accounts, simplified employee pension plans, and Coverdell education … Web: www.ascensus.com Details The speeches are over, the national political conventions are history, and the road to the White House is entering the final stretch. It is clear from the candidates’ financial disclosures that both Hillary Clinton and Donald Trump are well set for retirement. What is less clear is how a Clinton or Trump administration would affect the general taxpayer’s retirement.The candidates and their respective party platforms both support the Social Security system and want to strengthen it, but in very different ways.The Democratic Party’s platform calls for protecting and expanding Social Security and fighting every effort to cut, privatize, or weaken it. This would mean going against many reforms that have been proposed previously, such as raising the retirement age, cutting cost-of-living adjustments, and reducing earned benefits. Clinton has proposed raising the cap on income that is subject to the Social Security tax (currently $118,500) and expanding the Social Security tax to investment income.The Republican Party’s platform calls for “preserving and modernizing a system of retirement security” and states that saving Social Security is “our moral obligation to those who have trusted in the government’s word.” However, Republicans oppose tax increases and look to the power of the markets to create wealth and secure the future of the Social Security system. The platform calls for all options to be considered in preserving Social Security and notes that current retirees and those close to retirement can be assured of their benefits. Trump has stated that economic growth is the key to preserving Social Security, and that having a robust economy that is growing will help secure Social Security for the future.The candidates and their party platforms provide little detail on positions related to private retirement plans, such as defined benefit plans, 401(k) plans, and IRAs. The Democratic Party platform calls for enacting legislation to ensure that Americans’ earned pension benefits will not be cut and proposes to pay for it by closing tax loopholes that benefit millionaires and billionaires. The platform also supports the Department of Labor’s (DOL) recently released fiduciary rule, stating that Democrats “will fight against any attempt by Republicans in Congress or on Wall Street to roll back the conflict-of-interest rule.” Hillary Clinton also has publicly stated her support for the DOL’s final fiduciary rule.It is clear from an analysis of the candidates’ tax proposals, however, that retirement plans will be affected, regardless of whether Clinton or Trump is the next president. Both have indicated that they would propose limiting the tax benefits for certain income tax deductions and exclusions (not including charitable contributions), such as deductible IRA contributions and 401(k) plan exclusions from income.Hillary Clinton’s tax proposal would increase taxes on high-income households and implement the “Buffet Rule” that would impose a minimum tax rate of 30 percent of adjusted gross income (AGI) on filers with AGI greater than $1 million.In addition, Clinton would cap the tax value of specified deductions or AGI exclusions to 28 percent. The tax value of the exclusion for employee contributions would be reduced to a maximum of 28 percent for defined contribution retirement plans and IRAs instead of allowing taxpayers to exclude the contributions from the full 33 percent, 35 percent, or 39.6 percent that they would otherwise owe. Taxpayers in the 28 percent and lower brackets would be unaffected.Another Clinton proposal would limit contributions to tax-favored retirement accounts, including defined benefit plans, defined contribution plans, and IRAs, once the total of all tax-favored retirement account balances reaches the level adequate to finance the maximum annuity currently permitted for defined benefit plans. Under the proposal, the account balance limit for an individual age 62 in 2015, would be approximately $3.4 million.Both of these proposals were part of President Obama’s final fiscal year budget proposal, as well as previous Obama administration budget proposals.Donald Trump’s tax proposal would reduce the current seven income tax brackets—which range from 10 percent to 39.6 percent—to just three, and dramatically streamline the process. Trump initially proposed three tax brackets of 10 percent, 20 percent, and 25 percent, but has since modified his proposal, adopting the same tax brackets—12 percent, 25 percent, and 33 percent—that House Republicans have proposed.Like Hillary Clinton’s proposal, Donald Trump’s plan also would limit the tax value of certain itemized deductions and exclusions. Trump’s campaign has not specified how it would limit certain itemized deductions and exclusions, but the expectation is that the limitation would be set at 10 percent. This would reduce the tax value for those itemized deductions and exclusions for taxpayers in all three of Trump’s proposed tax brackets.It is still two months before the presidential election, but it is very clear that regardless of who is elected, tax reform will be on the agenda come next January, and tax-favored retirement savings incentives will be under scrutiny. Stay tuned.last_img read more

Venezuelan companies accuse Trinidad of oil spill

first_imgOil spill off the coast of Venezuela Non-governmental organizations (NGO’s) in Venezuela have blamed the state owned oil company Petrotrin for the presence of crude oil residue found on the shores of the tourist island, Margarita.According to a local environmental group – Papa Bois Conservation – while authorities have not yet officially tested the oil found in Margarita, there are suggestions that it came from the Pointe-Pierre Refinery of the Petrotrin Company.“These are pictures from Venezuela showing how bad it is. Reports are that beaches in Margarita and further afield have been affected and Venezuelan social media is holding Trinidad & Tobago accountable.”Meanwhile, Venezuelan media reports say Venezuela’s Prosecution Office has launched an investigation.“The Venezuelan Public Prosecutor’s Office (MP) reported today that it is investigating the environmental damages suffered by the country’s eastern coast following the oil spill from the Pointe-Pierre refinery of the Petrotrin company of the Republic of Trinidad and Tobago.“It says authorities have asked Petrotrin and the Ministry of energy and Energy Industries “to make reports to assess the damages and the cost of sanitation”.Last month, Trinidad and Tobago’s Energy Minister Franklin Khan said an investigation will be launched into the circumstances surrounding an oil spill which, according to Petrotrin, resulted in an estimated 300 barrels of oil escaping from a ruptured storage tank into the seas.U.S. partners with Guyana on oil spill measureslast_img read more