Page 14 THE SAUGUS ADVOCATE – FriDAy, SEpTEmbEr 29, 2023 THE SOUNDS | FROM PAGE 13 rating with all of you! A word from “The Pumpkin Patch” In case you haven’t noticed “The Orange Glow” on Hamilton Street, across from Saugus Town Hall, here’s a message from Pumpkin Patch coordinator Carl Spencer: “We’re happy to get our pumpkins and appreciate all the people who helped unload the truck. We had over 100 people MASSACHUSETTS TAX RELIEF BILL The most recent tax relief bill could become law if Governor Maura Healey signs off on it on Friday, September 29th. This bill is long overdue. It will take some time to digest some of the key provisions in the bill, especially the estate tax provisions. Some of the key elements in the bill thus far include: Increasing the rental deduction from $3,000 to $4,000. Unfortunately, that only results in a tax savings per tax return of $50. The senior circuit breaker tax credit would increase from $1,200 to $2,400. This is substantial as a tax credit is much more meaningful than a deduction. It is a reduction dollar for dollar in the total tax once calculated. Either your balance due will be reduced by $2,400 or your refund will be increased by $2,400. For those 65 years of age or older who would not otherwise be required to file a tax return, this new bill is even more of an incentive to file. The income tax rate on short-term capital gains will decrease from 12% to 8.5%. I was hoping for that rate to drop to 5%, which is the tax rate levied against all ordinary income including W-2 income, interest income, dividend income, etc. However, if someone has a $100,000 short-term capital gain on the sale of real estate or stock, that would be a savings of $3,500. That is a considerable savings. The estate tax exemption will be increasing from $1million to $2million. Furthermore, only the gross taxable estate over $2million will be subject to tax. Under the current estate tax provisions, once an estate is over $1million, the entire $1million is subject to tax. The $2million threshold will now exempt many estates from the estate tax. I wish Massachusetts had adopted portability. This would have eliminated the need for many families to be put in a position to implement more complicated estate planning with the use of Trusts in order to maximize a married couple’s estate tax exemptions. With portability, if a husband died, his $2million exemption could be passed along to his wife so that when she subsequently dies with a $4million estate, no estate tax would be due. She would be entitled to her $2million exemption and her deceased husband’s $2million exemption. This would be so much easier for so many married couples. This would also have served to encourage more affluent married couples to continue to live in Massachusetts rather than move to another state that has no estate tax. They would continue to spend money in Massachusetts and employ workers to help propel the economy. The federal government adopted portability years ago. It’s hard to imagine that Massachusetts is only going to increase the renters deduction to $4,000. That number is arrived at by taking one half of $8,000, when rent payment for one year can easily reach $30,000. Even a $15,000 rent deduction only saves $750 in Massachusetts income taxes. We’ll digest the bill when finalized and report back on the key provisions. Joseph D. Cataldo is an estate planning/elder law attorney, Certified Public Accountant, Certified Financial Planner, AICPA Personal Financial Specialist and holds a masters degree in taxation. who helped with the unloading Saturday. A large group of players and cheerleaders from Saugus Youth Football and Cheer under the direction of president Greg Bluestein participated as well as students from Pioneer Charter School and Saugus High. The church appreciates their help as well as the off-loading of pallets by Patrick Follis from Agganis Construction. The church truly enjoys providing the community with pumpkins and hosting this great fall event.” The “Pumpkin Truck” arrived at First Congregational Church in Saugus Center last Saturday. The Annual Pumpkin Patch is now up-and-running and will be open through Halloween, Oct. 31. Pumpkins of all sizes are displayed on the church lawn and will be available for purchase every day from 10 a.m.to 6 p.m. “Saugus Over Coffee” The final “Saugus Over Coffee” forum is set for 6:30 p.m. Monday, Oct. 23, in the Community Room of the Saugus Public Library and will feature Precinct 10. For those Saugus residents who are unfamiliar with the “Saugus Over Coffee” forums, they are cosponsored by The Saugus Advocate and the Saugus Public Library. The primary purpose is to give citizens in each of the town’s 10 precincts an opportunity to voice their concerns about top issues in their respective precincts. Viewers of the forums videotaped by Saugus TV will also get to learn a little about the history or interesting things about the precinct being featured each month. Stay tuned for more information as “Saugus Over Coffee” continues. Please check with The Saugus Advocate or library for any change in the date. Residents can check the programming guide on the station’s website (www.saugustv.org). A video of the forum will also be available for viewing on the station’s vimeo page within a day or two after the event – www.vimeo. com/saugustelevision. For loss of loved ones and pets Rev. Ed Bernard, an associate pastor at First Baptist Church in Saugus, will be offering two grief/bereavement information and discussion groups through the Saugus YMCA this fall. The first group will be a one and one-half hour session dealing with the loss of a pet. The second one involves four one-hour group meetings dealing with the loss of a loved one. There is no charge for either program. The pet group will be co-facilitated with a bereavement counselor from a local hospice. Rev. Bernard is a certified health care chaplain. He can be reached at 508245-8885. Fall concerts at the Kowloon The Kowloon Restaurant, located at 948 Broadway, Route 1 North, Saugus, continues its outdoor concert series with a post-hurricane lineup, including: Earl On Earth, whom critics call, “An indie rock artist band,” playing live on September 29. Different Strokez: hailed “A powerhouse group in the Boston music scene,” live on September 30. Doors open at 6 p.m. and the shows start at 7:00 p.m. Tickets for reserved seating are $10 and general admission is free. For tickets, call the Kowloon Restaurant at 781-233-0077 or access online: www.kowloonrestaurant.com Saugus 4-1-1 It’s been years since Saugus has had a Chamber of Commerce promoting its economic, cultural and historic assets in town. To fill part of the void, Selectman Corinne Riley spearheaded “Saugus 4-11” last October. It was such a success that Riley and others involved with the event are planning the Second Annual Saugus 4-1-1 for Saturday, Oct. 14, from 9 a.m. to noon at the Saugus Middle-High School Complex at 1 Pearce Memorial Dr. The event is tailored for new residents as well as established Saugonians. “Take in everything there is to find out about our town,” declares a postcard-sized promotion that circulated Saugus Center. “Learn about non-profit, youth sports and clubs you or your family may be interested in, town information, Senior Center, Library Groups, Houses of Worship, School District information.” Tours of the complex will be available. The Lion’s Club will have its eyemobile there. For further information or questions, please email Saugus411@gmail.com Saugus Cultural Council Seeking Funding Proposals Educational, artistic and community-engagement project organizers in Saugus and neighboring residents are encouraged to apply for a part of the $14,900 funding the Saugus Cultural Council has received from the Mass Cultural Council, a state agency, to award in a local cultural council (LCC) grant. The deadline to submit an application for an LCC grant is October 17. These grants can support a variety of activities in Saugus, including exhibits, classes, festivals, field trips, shortterm artist residencies, performances in schools, workshops and lectures. Previously funded Saugus Cultural Council projects include Saugus Concerts at the Iron Works, classical music concerts at the Saugus Public Library, school field trips to the Boston Tea Party Museum and North Shore Music Theater, passes for the Museum of Science, various workshops for children, adults and seniors, and numerous other activities and performances throughout the region. Applicants are encouraged to refer to the Mass Cultural Council Website to learn more about the MCC LCC Program Guidelines and view the Saugus Cultural Council’s priorities at https://massculturalcouncil.org/local-council/saugus/. Contact the Saugus Cultural Council at saugusculturalcouncil@gmail.com for more information or questions before submitting. Upcoming Fall events at Breakheart The state Department of Conservation & Recreation has released the following listing of events at Breakheart Reservation this fall. Breakheart Fall Fest special event: Saturday, Sept. 30, 10 a.m.-2 p.m. Come celebrate with us at this one-of-a-kind fall festival at Breakheart Reservation! This free event will include lawn games, a petting zoo, storytellers, music and family-oriented activities! At the Visitor’s Center (177 Forest St., Saugus). Easy Like a Sunday Morning Hike: Join the park interpreter for this weekly guided hike! Each trip will highlight natural and historic features that make Breakheart unique. Hikes will be moderately paced and range from two to three miles over sometimes uneven and rocky terrain. Best for ages eight years and up. Meet at the Visitor’s Center. Heavy rain cancels. Wednesdays: October 4 and 11, 10 a.m.-12 p.m. Step Into the Past: Join our park interpreter on a guided hike to discover the site’s history. Topics and routes vary throughout the season. Hikes are approximately 2.5 miles, moderate difficulty, along rocky trails, with several stops – best for adults and older children with a keen interest in history. Meet outside the VisiTHE SOUNDS | SEE PAGE 15
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