2% Bonus for All Employees and Self Employed Individuals in 2011!

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On December 17, 2010, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 was signed into law.

Who comes up with these names?  How about something like the Cut My Taxes or Else Act of 2010?

I digress. The biggest headline is that our Social Security tax withholdings are being cut from 6.2% to 4.2% in 2011. All employees will immediately benefit from this 2% "bonus" beginning with their first paycheck in 2011. Employers will continue paying their full 6.2% share of Social Security taxes in 2011.

So basically if you make $50,000 next year, you will retain an additional 2%, or $1,000, in your pocket.  The Social Security wage limit next year is $106,800, so if you make this much or more, your benefit will be $2,136. Care to share some of that bonus? Share it with us here at Conejo Valley Guide!!

The 2% tax reduction also applies to self employed individuals, who will temporarily pay a 10.4% self employment tax next year instead of 12.4%.

The cost of this temporary tax cut is $111 billion.

So why did they include "Job Creation" in the title of this law?? Because they are going to continue allowing businesses to write-off "bonus" depreciation on large capital purchases like equipment, furniture, fixtures, etc. That's nice and all for businesses to save on taxes but I'm not so sure that's gonna directly translate into new jobs.  What they need substantial tax credit to directly compensate companies for hiring, retaining and not laying off employees, not accelerated depreciation. Just sayin.

There's a nice summary of this law on the Wikipedia website.

First 2011 Chevy Volt Ordered in Ventura County Arrives at the Murphy Auto Museum on January 7th

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The Murphy Auto Museum finally received the 2011 Chevy Volt ordered by Museum Director Dr. Dan Murphy.  It was the first order placed in Ventura County.  Dr. Murphy was able to take delivery last Friday, January 7th, at Paradise Chevrolet in Ventura. (Note from Conejo Joe: I believe Volt pricing starts in the $41,000 range). Volt is not cheap, but certainly interesting. It'll take you 35 miles gas free, then gas kicks in for another 340 miles, or a total range of 375 miles.

Epic Ventura County Sunset Last Night Captured by John B. Mueller

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John B. Mueller is a Camarillo based photographer whose work I have admired for several years. Last night he captured this "epic" shot of our Ventura County sunset from a spot where Lewis Road meets West Potrero Road at Callegas Creek in Camarillo. Stunning. Check out his website at www.johnbmueller.com and his Facebook page to see more of his work.

Awesome Christmas Story - Two Brothers Surprise Father by Restoring His 1969 Norton Commando

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This 15 minute video is worth the watch. Priceless. This is what the holidays are all about. Two brothers "steal" their father's 1969 Norton Commando motorcycle from his basement in September 2009 and have it restored for him for Christmas.

Stop Identity Theft With a Credit Freeze

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(Originally posted in November 2007. Updated as of December 2010.)

Identity theft continues to be one of the fastest growing crimes in the country.  There are many types of identity theft, but one of the worst is when someone uses your personal information to borrow money or establish credit. 

Sadly, the 3 major credit bureaus, Equifax, Experian and TransUnion, have done little to help us prevent identity theft before it happens.  In fact, they make money by selling services that inform you if someone has accessed your credit file...after the fact.

SECURITY FREEZES

But over the last eight years, 47 states have passed laws that REQUIRE credit bureaus to offer "security freezes" to consumers that prevent access to your credit records.  A crook cannot take out a loan in your name if your file cannot be accessed.  Security freezes go a step further than "fraud alerts" offered by the bureaus that tell the lender to double check your identity.  The main problem with fraud alerts is that no law says the creditor must contact you.

California's security freeze law has been in place since January 2003.  Security freezes are free to ID theft victims, $10 per credit bureau for those under 65 and $5 per credit bureau for those 65 and older.  It costs another $10 ($5 to 65 and older) to "unlock" your account, either temporarily, for a particular creditor, or permanently. 

It takes a little work to set up your security freeze as the bureaus require a written request sent by certified mail.  The State of California provides guidance and sample letters for this purpose (click here for a link to the California Office of Privacy Protection website).  After registering, each credit bureau will send you a confirmation letter with instructions on how to remove the freeze.  Security freeze information is also available on the Experian, TransUnion and Equifax websites by clicking the links

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Resolving to Say "NO" by Gail Small

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A vignette by Gail Small, co-author of "Joyful Volunteering: Making a Difference." This one is called "NO" and is timely as we approach yet another new year!

NO by Gail Small

It was a warm winter day and I remember wearing a short-sleeved red checkered blouse with my favorite blue skirt. Suddenly though, I felt a chill and I froze.

It was at a community meeting of women. I was comfortable as we visited and shared stories. And then, it happened. The hostess handed us each a paper and pencil and asked us to write down our New Year's resolution.

My pencil wouldn't write. Those around me smiled and wrote non-stop. I knew my friend to my left was writing about the new diet she was going to go on the first of the year. My friend to the right had to be writing about making more money in her job, as that was always her primary focus. Someone across the room was chuckling out loud as she described the man of her dreams who she was determined to find in the coming year.

I was blank. Blank and confused. I thought about my everyday life. I am content. Sometimes I am really tired and often wish there were more minutes in a day. But, don't most of us think those things? I am happy in my relationships. I love my job and my family and friends. I work out and feel fit. I volunteer in the schools, in the community and for many organizations. I am always there when someone needs me for carpool, an emergency, or to run an errand. Wow! What to do?

Others were folding their resolutions in half once and then again. The crackly sound of the paper folding annoyed me as my page was still empty. Everyone smiled as they placed their well-chosen words into a

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Over 1,800 are Homeless in Ventura County According to a January 2010 Survey

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During the last week of January 2010, the Ventura County Homeless and Housing Coalition coordinated a count of homeless individuals in Ventura County.

A person was considered homeless in the survey if he/she fell within the Department of Housing and Urban Development definition, residing in 1) places not meant for human habitation, such as cars, parks, sidewalks and abandoned buildings, 2) in an emergency shelter or 3) in transitional housing for homeless persons.

In its April 2010 report, the Coalition counted 1,815 homeless individuals, keeping in mind that the count understated the actual number due to the complexities involved. The count in 2009 was 2,193 and the previous count in 2007 was 1,961. Here are some details from the latest count:

  • 88% were adults and 12% were children
  • 5% of the adults counted were 62 or older
  • 67% of the adults were men and 33% were women
  • 117 families were counted, the majority (74%) of which were single-parent families

Of the 1,815 reported homeless, 601 were in Ventura, 520 in Oxnard, 229 in Simi Valley, 223 in unincorporated areas, 106 in Thousand Oaks, 54 in Santa Paula, 52 in Ojai, 15 in Camarillo, 9 in Port Hueneme, 5 in Fillmore and 1 in Moorpark.

The Coalition noted this count does not include people at risk of becoming homeless. In 2000, there were 42,000 households, consisting of about 130,000 people (20% of Ventura County at that time) whose households earned less than $25,000 per year. Additionally, 8%, or close to 64,000 Ventura County residents, were living below the poverty level*.

If you encounter someone in need, refer them to this list of Ventura County homeless shelters and hot meal providers.

* 2010 Poverty Guidelines issued by the Department of Health and Human Services is $10,830 for a 1 person family, $14,570 for 2, $18,310 for 3, $22,050 for 4 and so on.