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Business

  • New 60-day rollover rules

    Question:What is the new rule regarding a 60-Day IRA-to-IRA Rollover?

    Answer:On March 20, the IRS released Announcement 2014-15 providing new guidance on the once-per-year rollover rule.

    The guidance became necessary in light of a recent tax-court decision in the Bobrow case. Going forward, you only are able to do one 60-day IRA-to-IRA rollover in a one-year period — once every 365 days — not a calendar year.

  • Economic development agency addresses Radcliff’s housing market

    Board members of the North Hardin Economic Development Authority met Tuesday as part of a regularly scheduled quarterly meeting to weigh in on recent discussions regarding Fort Knox’s housing market.

    Chairman Mike Weaver said he shared with board members facts about the Department of U.S. Army’s decision to open housing to all branches of the military, including active duty and reserve, Department of Defense employees, military and federal civil service retirees and DoD contractors, not only at Fort Knox, but also at 18 other Army posts throughout the country.

  • RSBA celebrates first anniversary

    The Radcliff Small Business Alliance met at Colvin Community Center to celebrate the anniversary of its first meeting on April 9.

    President Terry Shortt opened the meeting with introductory remarks and followed with a year end report to the membership. He also recognized volunteer official photographer Anne Flanagan who has attended and documented all but one of the 38 events held in the first year. Asked how many photos she had taken she remarked, “A little over 1,500.”

  • Sale of First Federal announced

    First Financial Service Corp., the holding company for First Federal Savings Bank of Elizabethtown, will be sold to an Indiana bank company.

    The definitive agreement finalizing the deal was signed Monday night. It had been approved earlier in the day by the First Financial board of directors and the board of Community Bank Shares of Indiana.

    It is a stock transaction valued at approximately $17.9 million. No money is changing hands in the deal, according to a joint news release issued Tuesday morning by the companies.

  • Need more fencing? Choose supplies wisely

    The following recently appeared in the Ohio Beef Cattle Letter, and provides some valuable information on wood posts for those of you who may be getting ready to build new or replace fences damaged by this winter’s ice storm. Merri Collins, with McArthur Lumber and Post authored this article.

  • Focus on Finance: Get out of debt in 24 months or less

    Question: My family needs to get out of debt. We need a bare bones, step by step, nothing fancy, plan that works.

    Answer: Remember when we used to play Monopoly and we held the get-out-of-jail-free card” in case we hit the go-to-jail spot? It would be great if there was a get-out-of-debt-free card, but there isn’t. So, we have to do it the hard way.

    Today more people than ever before have serious debt. You could write a book on the problems excessive debt causes.

  • Governor announces creation of auto industry association

    Gov. Steve Beshear said Kentucky ranks third nationally in the manufacturing of automobiles, but few recognize that fact on a national or international scale.

    “Today, we address that weakness,” Beshear said during a news conference Monday in Frankfort.

    Beshear announced the creation of the Kentucky Automotive Industry Association, a collaboration between automobile manufacturers, suppliers and supporting agencies in advancing and promoting the auto industry as it pursues growth.

  • Adjustable rate mortgages help homebuyers save

    Question: What are the pros and cons to an Adjustable Rate Mortgage?

    Answer: Adjustable rate mortgages generally fell out of favor after the 2008 real estate bust. Known as ARMs, adjustable rate mortgages were, and are, a home financing method that helps homebuyers reduce their initial monthly payments, minimize their down payment requirements and lower their initial annual percentage rate.

  • Chamber seminar series starts with best-selling author

    Hardin County Chamber of Commerce is preparing for the first seminar in a four-part series focused on increasing business’ success by leveraging their greatest asset: their employees.

    The series, SUCCESS – It’s All About People, includes a lineup of presenters, starting with Glenn Shepard. He will present “How to Supervise People and Lead a Team” from 8:30 a.m. to noon April 11 at American Legion Hardin Post No. 113 at 1251 Ring Road in Elizabethtown.

  • Focus on Finance: Using a tax refund to fund an IRA in 5 easy steps

    Question: Can I use my tax refund to directly fund an IRA?

    ANSWER: An income tax refund can be directly deposited to an IRA up to the annual contribution limit. The contribution limit is $5,500 ($6,500 for individuals age 50 or older) for 2013 and 2014. It also can be split among multiple accounts.

    1. It is tax time. Prepare your tax return for the year.