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Show Wedmiura/Fri, January 12-14,2005 The Park Record B-8 PLANNING family ELstate Planning at r b Jeffrey f7. &ahLs, JP, CfP Principal Planner 30+ Yea's experience advfeng ex<;a/tive5, 5u5rvs55 oWn<£rs. retrass and iher famliss A family based approach ushg WeaLth preservation Tax aVtfUante and assd: pr<7tjsc&7n techniques E_xperienc<r wrth charibble ^vfrig. hcapaotafed persons, and "special, needs" sH It's the first year of the rest of your life. More kids could mean more taxes taken for the 2000 census (at little bit," Jones said, noting that group which supports the bill. www.census.gov), 17.2 percent of it doesn't increase taxes, it shifts With that group. Hortin has tracked previous versions of this the Utah population fell between the tax burden. bill, which have been defeated for 5 and 14 years old, but the nationthe last two years. al average is 7.5 percent. Local input "I'm not against large families. Park City School Board Horlin predicts it will be more I have one," said Jones, who with President David Chaplin likes the successful this year lhan it has the her husband, media pollster Dan bill. previous years because former By JARED WHITLEY Jones, has seven children. "I understand it's a very steep Speaker of the House Marty Of the Record staff But it's unfair for families with hill that it has to climb," Chaplin Stephens had opposed it. The If you have more children, you the most children to contribute said. "It kind of flics in the face of measure also resembles a "head might have to pay more taxes if the least to education, she said. the idea that has been sort of an tax." which the Legislature disapone education bill gets through "It makes no sense to me," American idea, and definitely a proves of. the stale Legislature this year. Jones said. "To me. it's about Utah idea for many, many years: Last week, the School Board The Jones-Mascaro bill aims to responsibility. Responsibility is a people who have children to send recommended lo Park City's state create $82 million in additional family value If you want your to school should get some sort of representatives and senator lhat revenue for education by limiting society to be well educated, you tax break associated with the they support it. the lax rebate two-parent families have to take responsibility." costs of having those children." "I think it'll be more successful get to only three children, or four The additional $82 million than it has been," Hortin said. "I According to figures Jones for a one-parent home. would be distributed among think that people ought to get provided, under the bill: "Some people arc subsidizing * A family of four earning Utah's school boards "not direct- behind it and push it." others. A tax break for one is a $45,000 per year - described as ed from upon high" at the tax burden for others," said the average Utah household - Legislature, Jones said, because Mixed feelings Patricia Jones, D-Cottonwood would pay $28 less in taxes than it different districts have different The Utah Taxpayers Heights, who is co-sponsoring the does now per year. needs. Association has mixed feelings bill with Steven Mascaro, R-West * A family of two earning Were Park City School District about the bill. Since the bill Jordan. $55,000 would pay $3.33 less per to get the Jones-Mascaro bill's would create $82 million in new As it now stands, all U t a ' i month. extra money, it could fund salary moneys, the association opposes dependents can claim 75 increases and help cover it as a tax increase, according to percent of the federal the costs of stale and UTA vice president Mike exemption rate on their federal "unfunded man- Jerman. state taxes. Under the dales," Chaplin said, or Utah's state and local taxes When you allow exemptions, that other Jones-Mascaro bill, only needs. and fees are already third highest the first two dependents money comes right out of your school "We have so in the country as a percentage of (both parents, or a parent many that we can't ful- personal income, Jerman continand one child) would get class room." fill," he continued. ued. But the idea of reducing the exemption. The third "Everywhere we look exemptions is one the UTA supdependent would get a 50 Rep. Patricia Jones we have expenses. We ports. percent exemption, and "If the issue is reform, then D-Cottonwood Heights sometimes have to comthe next two would get 25 ^ ^ ^ promise in order to any reform should be revenue percent. neutral," Jerman said. "In other serve our kids." After that, additional dependPark City School District words, government would not be • A family of two earning ents would get no exemptions for $75,000 would pay $2.58 more per would get about $656,000 of that getting any more money." state taxes, although this would month. tax windfall, as it consists of 0.08 The UTA supports a proposal not change federal taxes at all. • A family of six earning percent of the total Utah student of former Gov. Olene Walker to "All income tax moneys, by $25,000 would sec no change. population, said Von Hortin. Park move Utah to a flat-tax of 4.1 perlaw, go to public education," * A family of six earning City School District business cent of federal adjusted gross Jones said. "When you allow $35,000 would pay $20.41 income without any possibility for more manager. exemptions, that money comes per month. "The large families with the deductions, like children, mortright nout of your school class * A family of six earning most kids pay the least amount of gage payments, and charitable room. $75,000 would pay $20.75 more income taxes," Hortin said, contributions. Such deductions Some have opposed this bill per month. describing the measure as "a would still be extant for federal because it's seen as anathema to • A family of 11 earning piece of fairness that's been miss- taxes. Utah's tradition of larger families. $325,000 per year would pay $139 ing for a long time." "Some have argued tha.1 it's Utah has far more children than more per month. Horlin is also a member of the anti-family, but that's not the the national average. "For half of our population, Utah Association of School argument we're making." Jerman According to information their tax burden will go down a Business Officials, a lobbying said. j ones-Mascaro aims to limit Utah's child tax deductions u ~ This year, find our why over 4 million women have joined Curves. Our 30-minuce workouts are so fun and effective char you'll actually enjoy them. Finally, here's one resolution you can keep. Jatm. today mid rrcriw 50% off* tacacrricc n u dfinaoutnew n get •freeC o m book. The power to aina/.c yourself!" curvcsinternational.com r 8,000 locations t 801-748-0080 435-658-2811 "."6 Pwli Avoiuf Si.iJr. I T S409-1 "OlFci bii«l on (in! vini cniollntcni. minimum 1 ? mo c J. prc-jruo. Nw valid • pJHj<]fi4Uop lo^auom (torn 1 2J2?IOA-Md/O'!> Thifc rdtirsli (rqi lin olT<r ViliJ i>nlv J( WWT CORNERSTONE HOME MORTGAGE Your Mortgage Specialists! Committed to Service guy has a good n jump shot. 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