I-64 Contract Executed with Gateway Constructors
ST LOUIS -On December 26, 2006, the Missouri Highways and Transportation Commission executed the signed contract with Gateway Constructors for the Interstate 64 reconstruction project. This is the first Design-Build contract for the Missouri Department of Transportation.
The project will reconstruct I-64 from west of Spoede Road to east of Kingshighway Boulevard. The project will include rebuilding the pavement, bridges and all 12 interchanges. One lane will be added in each direction from west of Spoede Road to Interstate 170. The project is fully funded with a budget of $535 million including property and other costs. The design-build contract is worth $420 million.
The Gateway Constructors team is underway with the design work for the project. Some nightly lane closures can be expected soon for utility relocation work. More details will be available from Gateway Constructors regarding the general start of construction in spring 2007. The 2007-2010 construction schedule is available on the project website at http://www.thenewi64.org. (excerpted from MODOT e-mail)
For more information: http://www.modot.org/
The median sales price of existing homes has dropped this past year, even so, homeowners are mostly expecting their homes to go up in value “a Little” or “a lot”, according to a recent survey. Personally, I believe that prices will go up, but not as much it has in the past. What goes around, comes around. Every thing has a cycle. I believe that for some of the country, certain areas (Florida, Arizona, California and New York) have been so inflated the adjustment was bound to happen. Here in Missouri, we’ve always had a steady appreciation and offered good value for the consumer. Certain locations may bring higher resale but even that has evened out, to the benefit of Buyers. In the past, Sellers profited and so do the Buyers. Your home purchase has always proved to be a great investment and in my view, it still is.
So, what do YOU think? For more insight into the survey and to download the file, just click here . Judy Sepac 314-744-4771 judithsepac@remax.net
Help is here, but you’d best move quickly! Don’t miss out on taking all the deductions and credits you deserve. In the world of taxes, a credit is better than a deduction. A credit reduces your taxes dollar for dollar. A $1,000. credit cuts taxes by $1,000.! A deduction reduces your taxes by your tax rate percentage (a $1,000 deduction for someone in the 28% tax bracket cuts taxes by $280.).
Track your income. If you know where you stand, you may benefit by postponing your income until next year. By doing that, you may be able to take advantage of other tax breaks that are limited by adjusted gross income levels!
Direct more of your pay to your retirement account for the last quarter of this year which will help you reduce your current year taxable income.
You just might want to include installment treatment and trading property for another in a like-kind exchange. Keep in mind, this requires advance planning!
Adjust your investments before year end and take advantage of tax-saving moves. You can also apply up to $3,000. of capital losses against ordinary income, which can help reduce your tax bill. Watch your holding period on your investments too. Gains on certain assets you’ve owned for more than a year are generally eligible for a favorable maximum tax rate of 15%.
Timing you investment purchases can also result in savings. You might want to wait to purchase shares in a mutual fund until after an expected year-end taxable distribution.
Be aware of “wash sale rules” when buying securities. When you replace an investment with a substantially identical one withing the 61-day period surrounding the sale, any loss is not currently deductible.
Review charitable giving. As of August 17, 2006, contributions of clothing, furnishings, electronics, or household items of minimal value will generally be non-deductible. The new rules state the items must be in “good” condition to qualify for a charitable deduction. If you’re planning to itemize, you may want to donate cash before year end instead of these items.
Install energy efficient improvements by 12/31/06 and you may be able to take a one-time credit of up to $500. on your 2006 tax return. Qualifying purchases include insulation systems, exterior windows and doors, and metal roofs. There’s a credit (up to) $2,000. for solar water heaters!
Buying a fuel efficient hybrid vehicle? Tax credit up to $3,400.!
Use this year’s $12,000. gift tax exclusion. I you make annual gifts to family members or others, make sure you complete your gifts for 2006 by December 31.
For more information, seek the advice of your professional accountant or tax adviser.
Thanks to for information provided in their newsletter: Eikermann, Vollmar & Bushur, LLC
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