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Page 10 – The Colquitt Shopper (Say You Saw It In The Colquitt Shopper)
Visit Us Online at www.ColquittShopper.net
Tuesday, February 6, 2024
Looking to Buy or Sell?
Just Call Sonny! 229-589-0539
EST. 2022 10. Sunrooms BirchBirchPinePine
Quality Tree Experts
229-454-4819 or 229-921-0075
Avelino Martinez Carlos Martinez
Tree Experts Qualitytreeexpertservice@gmail.com Licensed & Insured
Over 20 Years of Experience FREE ESTIMATES
Sonny Gay, Realtor
229-985-HOME
FORESTRY
MULCHING No Job Too Hard! Call the Tree Experts!
AUTO • FIRE • LIFE • HEALTH
Whitney Smith - Agent
6 South Main Street • “Downtown” Moultrie 229-985-1936
CP YSTAL PHAP MACY XX
Serving Moultrie & Colquitt County Since 1923
Scotty Jarvis, Pharm.D. • Dafney Jarvis 705 South Main Street • Moultrie
FOR SALE: 1965 Ford Mus- tang coupe roof, $300. Call 229-456-1499.
TAX PLANNING TIPS
Written by Dennis W. Futch, E.A. 229-985-0176
YES! YOU OWE TAX ON THAT
6 Surprising Taxable Items
If something of value changes hands, you can bet the IRS con- siders a way to tax it. Here are six taxable items that might surprise you:
Surprise #1: Hidden treasure. In 1964, a married couple discov- ered $4,467 in a used piano they purchased seven years prior for $15. After reporting this hidden treasure on their 1964 tax return, the couple filed an amended re- turn that removed the $4,467 from their gross income and requested a refund. The couple filed a lawsuit against the IRS when the refund claim was denied. The Tax Court ruled that the hidden treasure should be reported as gross in- come on the couple's 1964 tax re- turn, the year when the hidden treasure was found. Tip: The IRS considers many things like hidden treasure to be taxable, even though they are not explicitly identified in the tax code.
Surprise #2: Some scholar- ships and financial aid. Scholar- ships and financial aid are top priorities for parents of college- bound children, but be careful — if part of the award your child re- ceives goes toward anything ex- cept tuition, it might be taxable. This could include room, board, books, or aid received in exchange for work (e.g., tutoring or research). Tip: When receiving an award, re- view the details to determine if any part of it is taxable. Don’t forget to review state rules as well. While most scholarships and aid are tax- free, no one needs a tax surprise.
Surprise 3: Gambling win- nings. Hooray! You hit the trifecta for the Kentucky Derby. But guess what? Technically, all gambling winnings are taxable, including ca- sino games, lottery tickets and
FREE: House to be moved. Small 2 BR older home. Call John at 229-873-5567.
sports betting. Thankfully, the IRS allows you to deduct your gam- bling losses (to the extent of win- nings) as an itemized deduction, so keep good records. Tip: Know the winning threshold for when a ca- sino or other payer must issue you a Form W-2G. But beware, the gambling facility and state require- ments may lower the limit.
Surprise 4: Unemployment compensation. The IRS confused many by making this compensa- tion tax-free during the COVID-19 pandemic. Unemployment com- pensation income has since gone back to being taxable. Tip: If you are collecting unemployment, either have taxes withheld or make estimated payments to cover the tax liability.
Surprise 5: Crowdfunding. A popular method to raise money is crowdfunding through websites. Whether or not the funds are tax- able depends on two things: your intent for the funds and what the giver receives in return. Generally, funds used for a business purpose are taxable and funds raised to cover a life event are a gift and not taxable to the recipient. Tip: Prior to using these tools, review the terms and conditions and ask for a tax review of what you are doing.
Surprise 6: Cryptocurrency transactions. Cryptocurrencies like Bitcoin are considered property by the IRS. So if you use cryptocur- rency, you must keep track of the original cost of the coin and its value when you use it. This infor- mation is needed so the tax on your gain or loss can be properly calculated. Tip: Using cryptocur- rency for everyday financial trans- actions is not for the faint of heart because of how much recordkeep- ing is involved.
When in doubt, it’s a good idea to keep accurate records so your tax liability can be correctly cal- culated and you don’t get stuck paying more than what’s required. Please call if you have any ques- tions regarding your unique situ- ation.
Call us at 229-985-0176. www.thetaxshop.net
whitneysmithsf.com
HOPE HOUSE
THRIFT SHOP 704-5th Ave. SE, Moultrie Mon. - Sat. 9 am - 5 pm For more info.
call 229-985-7467
229-869-7277 229-777-8254
Phone: 229-985-4137
JAMES 1:27
Religion that God our Father
accepts as pure and faultless
is this: to look after orphans
and widows in their distress
and to keep oneself from
Fax: 229-890-5968
Veterans Yard Sale
415 Fletcher Street Thomasville, GA Second Sat.
8 am - 4 pm Support your Veterans (They Supported You) 100% Profit Goes To DogTagSS Veteran Facility 229-672-5042
Involved
Mike Bennett, Owner
FIRST UNITED METHODIST CHURCH 10:30 am service in the Church Sanctuary
409 First St., S.E., Moultrie. 229-985-2139
www.fumcmoultrie.org
Licensed & Insured
SECOND FRIDAY REVIVAL SERVICE Every Second Friday 564 Hagin Still Rd., Doerun Christ in You Fellowship Evangelist Chris Walden Pastor Franklin Walden, Jr.
questions call 229-221-8396.
229-891-3791
ALL VETERANS
ARE INVITED
To the monthly meeting at The American Legion on the third Tuesday of each month at 6:00 pm. Located at the Masonic Lodge on 5th Ave. SE across from the Golden Apple. For more info. please call Debra Stone, 610-554-
5750.
¡Se habla Español!
Call For Your Heating Check Outs!
SOUTHERN COMFORTS, INC.
HEATING & COOLING
WARM WINTERS/ COOL SUMMERS
We Service All Brands
Over 40 Years Experience
FREE OLD SHOPPERS
Come By Office
603 North Main St. ––––––––––––––––––––––
ATTENTION: If you have family
or friends buried in the Bridge
Creek Primitive Baptist Church
Cemetery in Colquitt Co. &
would like to make a donation to
the cemetery fund to help with
upkeep, please send donations
to: Bridge Creek Primitive Bap-
tist Church, c/o Elder Lamar
Burkett, 4075 Ellenton/ Omega
Rd., Omega, GA 31775. If any
In An Accident?
The Pastor & Members of
Emerald Hill Baptist Church
would like to invite you to at- tend Sun. School, 10 am; Worship service, 11 am. Tal- lokas Rd., Moultrie, GA.
ALL WORK GUARANTEED
License #CR007929
being polluted by the world.
CLUES ACROSS
1. One point south of due east
4. Coagulated blood
8. Fortifying ditch
10. Devotee of Hinduism
11. Trunk of a tree
12. Bank note
13. Capital of Guam
15. Study again
16. Covered with hoarfrost
17. Opening 18. Legendary
CLUES DOWN
1. A way to board
2. Get down
3. Highly seasoned sausage
4. First day of month
5. Eurasian shrubs
6. The organ that bears the
12. Metric weight unit 14. Vasopressin
15. Bravo! Bravo! Bravo!
Rolling Stone 21. Stray
22. Computer storing system
23. Signal
24. Pitching statistic 25. Human being
26. Malaysian isthmus 27. The “Blonde
Bombshell” 34. A gland
35. Bluish greens
36. Endangered
37. Three-dimensional
17. One-time family room staple
19. Got back together 20. Anger
23. Sang merrily
24. Sea eagle
25. Military men
26. Kilo yard (abbr.)
27. Found in the sea
28. Protects from weather 29. Type of medicine
30. City along the Rhine 31. Animal disease
32. Martini ingredients 33. Get away
38. In a way, precipitated
39. God associated with dissolution
40. Blemished
41. Flow or leak slowly 42. Disco legends
The Bee ___
43. Midway between south and southeast
34. Lack of disunity
36. One time European Commission officer
LARRY’S BAIT, TACKLE & MARINE
1305 - 1st St. NE, Moultrie, GA • 229-985-1488
Factory Trained Technician - Pat Bertram
• Power Pole & Minn-Kota • Warranty Center
• Outboard Repair
• Fishing & Marine Supplies • Live Bait
ovules of a flower 7. Small lake
9. Belief
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OWENS!
DOERUN MASONIC LODGE Meets at 7:30 pm on the 1st & 3rd Thursdays of every month. All Master Masons
are invited to attend
COMMUNITY BIBLE STUDY Tuesday 10:00 am
at Moultrie
Church of Christ 1915 US Hwy. 37 East Everyone Welcome
