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March 11, 2005     Cape Gazette
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March 11, 2005
 

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50 - CAPE GAZETTE, Friday, March 11 - March 14, 2005 Chamber elects new officers The Milton Chamber of Commerce counted ballots in the election of new officers at a membership mixer, March 8, at Cannery Vii. lage. Shown in back are (l-r) Gary Cooke, newly elected vice president and Gene Dvornick, board director. In front are Dr. Charles Wagn- er, past president; Ellen Passman, board di- rector;, Michael Clarke, newly elected presi- dent; Beverly White, newly elected board di- rector;, Vicki Sammons, board director; Kathy Clarke, board director; Not shown are Elena Cooke, newly elected secretary and Amy Spahr, newly elected treasurer. New officers will serve through 2007. The chamber also unveiled its new Historic Milton brochure, containing business Hstings, town history and information on things do and see. For more information, call the chamber at 684-1101. Taxes Continued from page 48 tax rate or maximum earnings limit changes during the tax year, continue to use the same rate and limit throughout the tax year. Estimated taxes Federal income tax is a pay-as- you-go tax. People must pay the tax as they cam or receive income during the year. They generally have to make estimated tax pay- ments if they expect to owe tax, including self-employment tax, of $1,000 or more when they file their returns. There are two ways to pay as you go: withholding and estimated taxes. Those who are a self-employed and do not have in- come tax withheld must make es- timated tax payments. Estimated tax is the method used to pay tax on income that is not subject to withholding. This includes income from self-em- ployment, interest, dividends, al- imony, rent, gains from the sale of assets, prizes and awards. Estimated tax is used to pay in- come tax and self-employment tax, as well as other taxes and amounts reported on the tax re- turn. Those who do not pay enough through withholding or estimated tax payments may be charged a penalty. Those who do not pay enough by the due date of each payment period may be charged a penalty even if they are due a re- fund when they file their tax re- tum. A first estimated tax payment for 2005 is due April 15. People may pay the entire year's estimat- ed tax at that time or may pay esti- mated tax in four payments. The four payments are due April 15, June 15, Sept. 15, 2005, and Jan. 17, 2006. People may have to pay a penalty if ythey do not pay enough tax through with- holding or estimated tax pay- ments or if they fail to make re- quired estimated tax payments by the due dates. Estimated tax payments are used to pay all the taxes on their return, including federal income taxes. tax, self-employment tax and For more information on deter- household employment tax. IRS mining status as an independent Publication 505, "Tax Withhold- contractor or an employee, self- ing and Estimated Tax," provides employment tax and estimated more information about estimated  taxes visit the IRS eebsite at Henry J. Evans Jr. photo www.irs.gov, call the IRS toll-free tax help line for individuals at 800-829-1040 or visit the local IRS office at 319 North DuPont Highway in Georgetown or call 855-0309. Off Second Master Suite, Craftsman Exterior 118 WESTSIDE DRIVE REHOBOTH BEACH YACHT  COUNTRY CLUB 1,059,000