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Show j " - ; - -s 3 Shown above are representatives of the "I Count" winners for JanuaryFebruary at Oak Hills School. Three or four students are chosen from each class every month to receive a certificate for improvement in scholarship, citizenship or other areas. Left to right front row: Bryan Green, Brandon Hill, Kamille Forsgren. second row: Mike Clark, Stephanie Allen, Holly Johns, Valerie Moreno, Keith Kidd. Back row: Allison Affleck, Kellie Cottrel, Karrie Eubank, Jaclyn Markowski and Melina Lewis. Not pictured: Stephen Gandy, Cassie Bevin, Peter Lake and Scott Smith. Spelling bee winners from the fourth, fifth and sixth grades at Oak Hills School are shown above: Ryan Black, Kimball Kjar, Daniel Stuart, Rusty Westergard (school winner), Haley Rasmussen (runner-up), Jaclyn Markowski, Angie McNabb, Natalie Marston. Not pictured: Jennie Hunsaker. Rusty Westergard and Haley Rasmussen represented Oak Hills at the South Davis Council spelling bee that was held March 8. If - I J. r i, 1 3 I f ( j i- I I h 1 I 1 1 ! II J I V w , :OJ -fir'- 1 ; bhown above are representatives of the"l Count" winners for JanuaryFebruary at Oak Hills School. Three or four students are chosen from each class every month to receive a certificate for improvement in scholarship, citizenship or other areas. Left to right, front row: Shaun Mathews, Nick Tueller, Tyrell Johnson, Devin Wilson, Adam Peart, Ben Wiilcox, Sara Jorgensen. Back row: Tauna Stock, Tobi Blanchard, Andrew Vance, Melissa Asay, Cami Nielsen.David Johnson and Jeff Barrick. Not pictured: John Alexander, Tyler Hermansen, Jeff Belnap and Kevin Strong. Shown above are representatives of the "I Count" winners for JanuaryFebruary at Oak Hills School. Three or four students are chosen from each class every month to receive a certificate for improvement in scholarhsip, citizenship or other areas. Left to right, front row: Peter Thomas, Meagen Deakin, Jonathan Tolman, Steven Low, Amy Jones, Bethany Christensen, Malissa Hall. Back row: Joe Evans, Tyler Bennett, Shannon Youngblood, Josh Rupp, Paul Christensen, Tyson Koury, Jenny Greenfield and Kameron Kidd. Not pictured: Ryan Davisw, Bart Jensen, Kathryn Blanchard and Jay Marcyes. To vithhold or not to withhold? count or mutual fund. The key to properly pegging prepaid taxes through either withholdings or estimated payments is proper and regular tax planning. At the very least, if you are getting a large refund you should increase your exemptions. You are not limited lim-ited to the number of personal exemptions ex-emptions that you can claim on your tax return. If you are paying more in taxes at the end of the year decrease the exemptions ex-emptions or increase your estimated payments. And as always, if you need help you should consult your business counselor or tax advisor. It will pay off in the long run. withdrawal from your bank account to make a deposit into a savings ac- By KENNETH J. ROSE Business Counselor Rose & Associates The time that you prepare your tax return for last year should also be the time to examine your withholdings for the coming year. Not to do so could cost you money, whether you get a refund or end up paying extra taxes. The concept of payroll tax withholdings has almost become a common fixture in the American Society. The original idea was to make paying taxes as painless as possible. If a little is taken out from each pay period, you hardly miss it, right? Yet, it is still the taxpayer's responsibility to pay the correct amount of taxes and do it on time. The IRS recuires that you pay at least 90 percent of your tax liability, or 100 percent of the prior year's liability, whichever is lower. Unfortunately, it is extremely rare to pay exactly the right amount in taxes. The most common outcome out-come is either to owe additional taxes, or to get a refund. The size of the refund or the amount owed is the critical thing to examine and should be just as important as filing the tax return. If the difference between the tax liability and the taxes prepaid is small, everything works out fine. A large difference can change the entire en-tire picture though. If you end up owing a large amount in additional taxes you could also be subject to late payment penalties and interest A large refund means that you are loaning the government your money interest-free. The way to control the amount of prepaid taxes is through W-4 exemptions ex-emptions if you are on a payroll, and through estimated taxes if you are self-employed. The interesting quirk about the W-4 withholdings is that you can change them as often as you want. What that means, is that you could set your exemptions high in the early part of the year so withholdings are lower. Then in the latter part of the year the exemptions exemp-tions can be lowered so more is withheld in order to cover the anticipated an-ticipated tax liability. Since the IRS treats any withholdings reported on the W-2 as though they had been paid evenly throughout the year, the taxpayer can also avoid the underpayment penalties which are calculated by looking at the taxes paid on a quarterly basis. Many taxpayers will use their tax refund as a savings plan to give them some extra money for special projects. Some financial discipline could lower the withholdings and put the money into your own savings sav-ings plan where you can be earning money on your money. Some employers even have savings sav-ings plans available through payroll withholdings, so you won't miss the money being taken out. Or, you could set up an automatic |