Deductions You Hadn't Considered

It's that time of year again...no, not March Madness. A different type of madness - it's called tax season. Whether you're an early completer or a diehard procrastinator there are a few deductions you don't want to miss out on. Kevin McCormally, an Executive Director at Kiplinger, has put together an easy-to-use, informative slide show that outlines the most often overlooked tax deductions. Check out the highlights below, then follow this link to see the whole presentation.

Some not-so-common deductions to consider:

• Out of pocket charitable deductions - you should keep receipts if your total is over $250...and don't forget to include your mileage. It's a different rate than the standard, work-related deduction, but you are entitled to include the cost of travel.
• Student loan interest paid by parents - if you're parents have been paying your student loan, the government treats it as money given to the child, who then paid the amount due. You may be allowed to deduct this interest payment from your taxable amount.
• Job search costs - who knew looking for a job could pay off? Now you do - the government allows for deductions if the total costs exceed 2% of your adjusted gross income.
• Moving expenses for your first job - another example of the government helping younger employees. If you've moved or incurred significant expenses to take your first job, you are eligible to receive some of it back.
• Deduction of Medicare expenses - this is one for the self-employed. You may be able to deduct premiums that you have paid, ultimately lowering your taxable revenue and saving you money.

Take a few minutes to review the most often overlooked deductions and see what you qualify for. Whether you're completing your 2013 taxes, or find enough unclaimed expenses to warrant an amendment, it's in your best interest to claim everything you're entitled to. Finally, check with the experts in your local chapter. There are many Jaycees involved in the financial and accounting industries that could provide valuable direction as you finish this year's paperwork. When you're done, take a few minutes and share any tips or overlooked deductions with your fellow Jaycees on our Twitter and Facebook feeds...it's information we all can use!

The Right Way To Ask for A Raise

Although your boss may disagree, now is the perfect time to ask for a raise. With the tools and trainings provided by your local Jaycee chapter, and the resources available through JCI USA, you've been expanding your skill set and making positive contributions in your professional life - it's time to cash in on all that hard work. Now you need a plan. What's the best way to guarantee a positive discussion about your value to your organization and avoid an early and disappointing exit from your management's office?

Here's an interesting article by author and career planning professional Dawn Rosenberg McKay discussing the Do's of asking for a raise. Some highlights to keep in mind include:

Find out how much others in your field are earning. Websites such as Salary.com will provide you with the latest information regarding what your job is worth through salary surveys and other collected information. Referencing the industry norm can be a powerful tool in convincing your employer that an adjustment is due.

Evaluate the financial health of your employer. Scheduling a salary discussion with your boss the week after a disappointing earnings announcement may not be the best timing. Choose a time when the company is celebrating a win - you're much more likely to be rewarded following an organization-wide success.

Prepare your argument. This is critical to your overall chances of a positive response. Asking management for an increase with little information to reinforce your point allows them to tell you what you're not doing, rather than focusing on the contributions you have made, and the reasons you are deserving.

Decide what you will do if turned down. Let's face it, not every request for a raise will be met with approval from management. You need to have an action plan for a negative response. Will you start looking for other employment or a transfer? Will you accept the decision and try again in six months? Take a minute to anticipate all possible outcomes so there are no surprises with whatever decision is made.

Set an appointment with your boss and make your case. This seems intuitive, but many employees toil diligently with the hope that management will come to them and recognize their work with a nice raise. A wonderful idea, but more often than not, it just doesn't happen. Use the techniques and tools learned through the Jaycees to politely and intelligently push the issue.

Do you have any good tips for asking for a raise? Share them with your fellow Jaycees on our Facebook and Twitter pages - we'd love to hear some great stories and ideas.

Beyond the First Step

Early American philanthropist and businessman William Clement Stone, once said, "All personal achievement starts in the mind of the individual. Your personal achievement starts in your mind. The first step is to know exactly what your problem, goal or desire is." These words were true in Stone's era of industrialization and growth of our country, and remain as valuable advice today. But once you have the clear understanding of what you hope to accomplish, what comes next? How do you transform your ideas into action?

As the premier organization for empowering young adults to make positive change within themselves and their communities, the Jaycees are here to help. With decades of experience in completing thousands of projects that benefit individuals and groups, your local chapter has the blueprint for success in bringing your ideas to life.

So you've got that great concept and you're ready to get involved...how do your start? Here's some quick ideas for a great launch to your initiative:

• Leverage Your Leadership - your local chapter leadership is your first resource for evolving an idea into a doable plan with a manageable scope. With the experience of leading similar projects, they are experts in developing concepts into action. Whether you need assistance in defining your audience, putting together a team, creating specific action items, or promoting your idea to the community, most likely someone in your chapter leadership has achieved success in a related project.

• Review Previous Projects - one of the benefits of working with a national organization is access to the multitude of projects that have been completed in past years. Not only is your local chapter an excellent resource to help you define and outline your goals, but the United States Junior Chamber lists past efforts on their website for you to check out and "borrow" ideas. Here's the link.

• Use Your Chapter Experts - at your next local chapter meeting learn about the resources in the room. You're all there because you care about the community and self-improvement. Take advantage of that commonality by discovering what specialties and talents are represented in your chapter. Not only will you be able to put resources together for your project, you'll probably learn some new information and techniques to help in other areas of your life.

• Document Everything - just as you will use the history of others to improve your project, future Jaycees will want to benefit from your experiences. Your chapter has access to the Project Management Guide, among other resources, to help you layout and document every step of your successful project. You can find a copy with your local chapter leadership or on the USJC website library.

Whether a large or small project, something that's been completed in years past or a brand new idea, the experience and talent within local chapters across the country can be your resource to continued success. Take that first step...then the second, third, and fourth. Make your chapter and community proud...then tell us about it. Share your experiences on our Facebook and Twitter sites so others can benefit from your action. We're excited about what you can accomplish!

Women's Jaycee History

As we roll into March, we are proud to celebrate Women's History Month and recognize the significant achievements that women have made throughout history, and continue to do so today. As an organization, the Jaycees are proud of the strength of women's membership in local chapters, and the leadership roles that women play at all levels of our group, including 2014 National President Fay Poissant.

But it hasn't always been this way. Did you know that the Jaycees were a men-only organization until 1984? Previously, there were separate groups for men and women. We are extremely pleased that 2014 marks the 30th anniversary of the US Supreme Court decision in Roberts vs United States Jaycees, when it was held that refusal to admit women into the organization was both a violation of First Amendment rights, and unconstitutional under the Due Process Clause of the 14th Amendment. You can read more about the Supreme Court's decision here. Shortly after the Court's ruling, the Jaycees voted to open membership to all young individuals, ushering in a new era of progress and successes.

It doesn't take much research to realize just how much the Jaycees have benefited from this change. From the first female National President, Sydney Ward, who served in 2001, the representation of women in Jaycee leadership has been distinguished, including past National Presidents Julie Metzger (2005), Lisa Parrish (2006), Denice O'Neil (2008), Joanie Cramer (2011), and Chrystal Ramsay-Dyess (2013). On a local level, the involvement and representation of women leaders has been just as significant.

As the premier leadership organization empowering young adults to be active, the efforts of women such as those listed above have helped to provide Jaycees across the country with the resources and expertise they need to make a difference within themselves and their communities. We'd love to hear from some of our women Jaycees...why did you join the organization? How have the networking, leadership development, projects, and trainings helped you grow as an individual? Share your thoughts through social media with other Jaycees on our Facebook and Twitter pages... we can all be proud of our combined contributions and look forward to making exciting new history - for all individuals.

Understanding the Active Citizen Framework – Part 2

This week, we will continue with our discussion of the Active Citizen Framework – your step-by-step guide to the process that helps Jaycees create and execute projects and development opportunities that empower young professionals and benefit their communities. By offering a specific framework, providing examples on how to best utilize the information, and ensuring sustainable local impacts, we challenge you to use the Active Citizen Framework to change the world.

Last month we addressed Step 1 – Needs Analysis. In case you missed it, you can read that post here.

Step 2 – Formulate Sustainable Solutions

Following the development of a comprehensive needs analysis, thought should be given to creating ideas that promote sustained engagement that drives a community towards prosperity. The Active Citizen Framework identifies three stages of integration for effective development. Below is a listing by JCI of the different stages and a brief description of each.

Health and Wellness – Whether it’s hunger and poverty or childhood obesity, all communities face challenges in health and wellness. By ensuring that people are living happy, healthy lives, projects can lay the foundation for prosperity, success and future development. Here is a resource for you to review: HealthyPeople.gov

Education & Economic Empowerment – Everyone deserves a fair chance at realizing their dreams, but unfortunately, many don’t get it. Providing continuous educational opportunities and equitable economic conditions gives individuals the chance to lead productive careers with a high quality of life and opens the door to future development. Here is an interesting resource from the United Nations.

Sustainability – There’s only one planet we call home and we must preserve it for future generations while also developing communities to support an ever-growing population. Both environmental and economic sustainability are essential to building stable, productive, prosperous cities and towns, and neither one can come without the other. Here is a resource for you with articles on sustainability all over the globe: Sustainable City Collective!

With modules designed to work either independently, or as a set, the JCI Active Citizen Framework is your guide to ensuring successful, long-term projects, providing an immediate positive impact to the community.

Next month is Step 3 – Taking Action with Partners. Feel free to post a project update on JCI’s Facebook and Twitter pages. We’d really like to know how your efforts are succeeding.