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Friday, December 31, 2010

1-1-11

This new year let us thank the ONE who through His death, burial and resurrection WON our pardon from sin.

Our #1 desire is to see men and woman trust Christ as Savior.
If you wish to still make a year end contribution to the gospel ministry of Gateway, you may either:

1. Give online (secured giving) at: http://www.razoo.com/users/qu7vve

2. Mail your check dated December 31, 2010 to:

Gateway Pregnancy Center
960 Springfield Avenue
Irvington, NJ 07111

Thank you!


Thursday, December 30, 2010

Monday, December 27, 2010

Our main focus is on seeing men and women come to a saving knowledge of the Lord Jesus Christ. We praise the Lord that...

In 2010, Gateway Pregnancy Center has been able to see 1,200 women at our three centers.

Over 165 women have come to Christ.

Over 165 babies have been known born.

Hundreds of follow up contacts have been made.

Over 1000 New Testaments have been given out

80-90 sonograms have been performed at our Elizabeth site

Dozens of boyfriends have been challenged to be responsible

Hundreds of teens have been challenged to remain sexual pure until marriage

Tons of baby items have been given out

Students have been given accurate information for school projects (along with the gospel) and

Our internet website (www.gateway.org) has reached thousands


As many of you know
, our annual budget is $180,000, even though we’ve seen:

a rising cost of living

increased insurance costs

a 3% annual increase in rent (at each of our three facilities)

As of December 26th, we are looking at a deficit of about $43,000 for 2010.

Your ‘end of year gift’ could really help us meet our budget.

We can do more to reach abortion vulnerable women. We can bring the gospel to more women and their boyfriends .. but we need your help.

"For God is not unjust so as to forget your work and the love which you have shown toward His name,

in having ministered and in still ministering to the saints." Hebrews 6:10


May we hear from you?


Thanks...


PS: If you've already sent a

gift, we thank you!!


Gateway Pregnancy Centers, Inc.

960 Springfield Avenue, Irvington, NJ 07111 and

65 Jefferson Avenue, Suite 405, Elizabeth, NJ 07201

705 Park Avenue Suite 202, Plainfield, NJ 07060

Website: www.gateway.org e-mail: dean@gateway.org Blog: http://gatewayorg.blogspot.com/


Have you considered a year end gift to the gospel ministry of Gateway Pregnancy Center?

There are many ways to give prior to December 31st:

(1) Special needs end of year gift towards
our budget deficit of $43,000


You can send a check in the mail:
Gateway Pregnancy Center, 960 Springfield Avenue, Irvington, NJ 07111

Even if received after January 1st. It can be claimed on your 2010 tax return
if the check is dated December 31st. or before.


(2) A gift 'in memory of' or 'in honor of' a friend or relative

(3) Online gift via our RAZOO challenge. For every $200 received in a particular fundraiser (challenges by Dean, Marisol, Dorothy and Lucy) Gateway receives a $200 matching gift up to a total of $1,000.

We already have $720 in gifts as of December 27th.


Make
a Decision to Support the Vision of Gateway

A team fundraiser for Gateway Pregnancy Centers

Read about the challenge:
http://www.razoo.com/p/holiday-09-Gateway-Pregnancy

Take the challenge:



(4) A variety of other year end ideas:

** Invite Gateway to speak at your church. Thanks to The Crossing in Livingston and LiasonVisual for producing a wonderful 2 1/2 minute promo video for the ministry. We can give a biblical sanctity of life message to your congregation and show this video. Available dates are still open for February and March.

** "LIKE" us on our Facebook page

** Promote our upcoming Baby Bottle Campaign in the months
of January and February

** Donate stock or gift cards

** Place Gateway Pregnancy Center in your will (we can help you set it all up)

May our Lord bless you as you
bless the Gateway ministry!


All authority hath been given unto me in heaven and on earth. Go ye therefore, and make disciples of all the nations” Matthew 28:18

“..if you confess with your mouth Jesus as Lord, and believe in your heart that God raised Him from the dead, you will be saved” Romans 10:9

“Deliver those who are being taken away to death, And those who are staggering to slaughter, Oh hold {them} back.” Proverbs 24:11-12

“Inasmuch as ye have done it unto one of the least of these my brethren, ye have done it unto me.” Matthew 25:40

“Thy word is a lamp unto my feet, and a light unto my path” Ps 119:105


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Year end giving final thoughts …

Year-End Giving to charitable organizations

such as Gateway Pregnancy Center, Inc.

From: Regent Atlantic Capital, 1200 Mount Kemble Avenue,

Morristown, NJ 07960 / www.regentatlantic.com

Subject: Update On The Recently Passed Tax Legislation

One of the most closely watched events this holiday season came to a head on Friday, December 17th. Congress passed the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act. With a name that long, it's no wonder its passage came down to the wire. Unfortunately, this does not leave much room for year-end planning, but it does offer some clarity for the next two years. In any case, here is a summary of what we believe are some of the more relevant provisions for our clients, broken down by income taxes and estate and gift taxes.

Highlights of Selected Personal Income Tax Policies

Unless otherwise indicated, all of the passages below will be in effect for 2011 and 2012 only. Beginning in 2013, all of current tax provisions will sunset and revert back to 2001 levels unless Congress acts to make changes before then.

· Ordinary income tax rates will stay at their current levels and not increase. The top tax rate, currently 35%, was due to jump to 39.6%. Instead of rising, the current rates will remain in place for two more years. There had been a good deal of advice given throughout the year with respect to accelerating income to, in effect, lock in the current tax rates. Since the current rates will be in effect for two more years, the incentive to accelerate income has diminished considerably.

One area in particular where we've modified our view is the treatment of Roth conversions executed in 2010. The default tax treatment for 2010 Roth conversions is to spread the income ratably over 2011 and 2012 , with no taxes being due on 2010 tax returns. Taxpayers also have the option to recognize all of the income in the current year, and until now, that had been our general recommendation. However, with the two-year extension of the current tax rates, we believe it is almost always advantageous to spread the income over the next two years. Notable exceptions could be where an individual took a large deduction (e.g. significant charitable contribution) to offset the income, or if there is specific alternative minimum tax (AMT) planning to determine the breakeven point between AMT and ordinary taxes. See bullet point below on AMT exemptions.

· Tax rate on qualified dividends will remain at 15%. Absent this tax act, the tax rate on all dividends was to reset to ordinary rates. This could have forced everyone to review their portfolios to determine the most appropriate allocations with respect to asset location (e.g. holding certain assets in tax sheltered accounts versus taxable accounts.) This two-year extension ensures that dividend-paying stocks should receive preference in taxable accounts

· Capital gains tax rates will remain at 15% (0% for people in the 10 and 15% tax brackets). They were set to rise to 20%, causing some to consider taking gains this year to lock in the low rates. Since the current rate will be in effect for two more years, there is no reason to accelerate gains simply for tax purposes. Instead, the focus should be in the merit of the investments themselves, and the amount of risk a concentrated position may have on one's portfolio.

· In 2010, there is a temporary repeal of phaseouts of itemized deductions and personal exemptions for high-income taxpayers. This was going to be a one-year repeal, but the act makes it a three-year repeal. As a result, there will be no phaseouts of itemized deductions or personal exemptions, regardless of how high a taxpayer's income will be. Keep in mind that other statutory limits/thresholds such as the 7½% medical deduction threshold and 2% floor on miscellaneous itemized deductions are unaffected and still apply.

· The alternative minimum tax (AMT) exemption, currently $72,450 for joint filers and $47,450 for single filers, was set to revert to $45,000 for joint filers and $33,750 for single filers. This act provides relief for two years by propping up the exemption to $74,450 for joint filers and $48,450 for single filers. While this part of the tax act is intended to provide relief, for most mid-to-high income tax payers in states with sizeable income and real estate taxes, it will pretty much be status quo. Generally, if you're currently subject to AMT, you'll still be in AMT for at least the next two years.

· We find one of the more curious provisions in this tax act is the temporary payroll tax cut for employees. For 2011 only, the rate of payroll tax for Social Security, currently at 6.2%, is reduced to 4.2%. Note that this provision applies only to employees' share of the tax and not employers'. Employers will still pay their share at a rate of 6.2%. Self-employed taxpayers receive a partial benefit, being subjected to a total rate of 10.4% instead of 12.6%.

· This tax act reincarnates the IRA charitable deduction which had originally expired at the end of 2009. Taxpayers who are at least 70½ years of age can make tax-free transfers from their IRAs directly to a charitable organization on what would otherwise be taxable distributions. This exclusion is limited to $100,000 and is available retroactively in 2010 and for 2011. While recognizing that the timing of this legislation leaves little room for planning, there is a provision that allows for transfers made in January of 2011 to be treated as being made in 2010. It is important to note that New Jersey residents will be subject to state income taxes on any distribution as charitable deductions are disallowed under New Jersey law.

· Here is a select list of some other provisions that may affect our clients:

· The maximum allowable contribution to a Coverdell Education Savings Account (ESA) will remain at $2,000 through 2012, at which time it will revert back to $500.

· Ability to claim an itemized deduction for state and local sales tax in lieu of state and local income taxes for 2010 and 2011

· Above -the-line deduction for qualified education (tuition and related) expenses for 2010 and 2011

· Extension of the American Opportunity Tax Credit (formerly known as the HOPE Scholarship Tax Credit) through 2012. This credit is limited to $2,500 and is partially refundable. Furthermore, the credit begins to phase out at $160,000 for married taxpayers and $80,000 for single taxpayers.

Highlights of Select Estate and Gift Tax Policies

The end of 2009 brought a good deal of chaos and uncertainty that hung over our heads all throughout 2010. This tax act has brought some clarity to the estate planning world, for the next two years, that is. The big news is that the estate tax is back, not that any tax practitioners expected it go away for good.

For the next two years, the estate tax will be assessed at a rate of 35%. The lifetime exemption, which was $3.5 million in 2009, has been bumped up to $5 million per person. In addition, there is a provision that allows for "portability" of the exemption amount between spouses, essentially creating a $10 million combined exemption. This can be very useful in the event the first spouse to die has asset ownership in their name of less than $5 million at death.

Keep in mind that this only applies to people who die before the en d of 2012 because come January 1, 2013, the exemption is due to revert back to $1 million. That said, portability should not be a substitute for estate planning, and it is always important to have appropriate titling of assets in order to equalize each spouse's estate.

There was also a notable change for gift tax planning purposes. Currently, there is a $1 million gift tax exemption and a tax rate of 35%. Under previous tax acts, the exemption amount did not increase when the estate tax exemption was increased, and this act unifies the two exemptions. That means the lifetime gift tax exemption will mirror the estate tax exemption ($5 million) starting in 2011. Basically, this act creates an additional $4 million of tax-free gifting capacity per person.

This is especially important for people with taxable estates who have been contemplating making taxable gifts in 2010 to take advantage of the current 35% gift tax rate, which was set to rise to 55%. Anyone who is in the process of making gifts in excess of the annual exclusion should immediately consult with their estate planning attorney to determine whether or not that process should be halted and revisited again in 2011 when the exemption amount increases.

In addition, the Generation Skipping Transfer (GST) Tax has been reinstated for 2011. In 2010, there is no GST tax. Thus, a person could transfer assets to a "skip" person and incur no GST tax. However, they would still incur a gift tax at 35% assuming they had already utilized their full $1 million lifetime gifting exemption. For 2011, the GST Tax exemption has been re-unified with the estate and gift tax exemptions making it a $5 million exemption as well.

This tax act also clears up some confusion with respect to decedents who passed away in 2010. Executors now have the option of (1) being taxed at a rate of 35% utilizing a $5 million exemption with full step-up in cost basis of asset values or (2) no estate tax and application of the current modified carryover rules and stepped-up basis on $3 million of assets passing to the surviving spouse and $1.3 million of assets to non-spouse beneficiaries.

Our view, in general, is that estates worth less than $5 million would most likely benefit in 2010 from utilizing the new tax law and receiving a step-up in basis on the assets.

Separately, some legislation that was introduced in the initial bill got left on the cutting room floor. Specifically, the proposed legislation to extend shorter-term Grantor Retained Annuity Trusts (GRATs) to a minimum trust term of 10 years was notably absent from the final legislation.

Fortunately, tax law didn't change on GRATs and they are still an effective means for potentially transferring appreciation to future generations, especially given the low interest rate environment.

This tax act is a significant development in all of our personal planning and will likely create a lot of questions in the minds of clients. Please know that we are always available to address any questions or concerns you may have.

This act takes a good deal of pressure off people with respect to year-end tax planning, so that the remaining days in 2010 can be spent looking ahead to the tax certainty that 2011 and 2012 will bring us. Since this is a temporary tax act, it may be very likely that we will be in the same predicament exactly two years from now. Until then, we can breathe a very small sigh of relief.


Regent Atlantic Capital, LLC does not provide legal, tax, or accounting advice; this presentation reflects our own understanding of current law. To the extent that a reader has any questions regarding the applicability of any specific issue discussed to their individual situation, they are encouraged to consult with the professional advisor of their choosing.

Friday, December 17, 2010


This Christmas..



Make a Decision to Support the Vision ..




and bring on Lucy Droege as the director of our Irvington site

** Your decision will help bring aboard Lucy Droege as our new client services director in Irvington (she is at 76% of her support) allowing us to reach more abortion vulnerable women, more teens with the chastity message and more churches with the opportunity to serve Him locally.
Lucy needs just $3,740 to reach her goal!!


Your decision to support the vision enables Gateway to make a difference in more than 1,200 lives in the next twelve months.

Our ministry challenge is from Esther 4:14:

"For if you remain silent at this time,

relief and deliverance will arise .. from another place.

And who knows whether you have not attained royalty for such a time as this?"

Prizes and Rules

A $1,000 matching grant from Razoo is active for this team fundraising campaign!

Donations to each individual fundraiser will be matched, up to $200 per fundraiser and a total of $1,000 for the team. To qualify for the matching grant, the team must have at least 5 fundraisers, and in the spirit of the holidays, the more the merrier!

Prizes



  • 1st place fundraiser
    Your Choice: A gift certificate to the Spanish Tavern (Mountainside or Newark location), valued at $120.00 OR A Darrell Revis Autographed / Signed New York Jets Mini Helmet, valued at $99.00
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Dean Gavaris (Team Captain)



Thanks to Folks Like You 2010
Gateway Today December 2010
Check out this great video clip:

Thursday, December 2, 2010






This Christmas ..


Make a Decision to Support the Vision of Gateway

A team fundraiser for Gateway Pregnancy Centers


Read about the challenge:

http://www.razoo.com/p/holiday-09-Gateway-Pregnancy

Take the challenge:


May our Lord bless you as you bless the Gateway ministry!