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National  Security
Joe Boyles  – Guest Columnist

For the last couple of weeks, I’ve spoken about the revolution taking place in Egypt.  What follows is some background information and why these events are important to us.
Egypt links the African continent with the Middle East.  It is and has been for centuries a strategic crossroads.  With some 80 million people, it is the second most populous nation in Africa and the very heart of the Islamic world.
To join the Mediterranean with the Red Sea and circumvent a long, costly and hazardous voyage around the Horn of Africa, engineers dreamed for centuries of constructing a canal.  This was accomplished by the French and Ferdinand de Lesseps in 1869 using slave labor in much the same way that Pharaohs had in constructing the pyramids.  Today, the Suez Canal is 120 miles long, 800 feet wide and 79 feet deep and can accommodate nearly every ship that plies the seas.  It is an engineering marvel and its value to world transportation is incalculable.
It is fairly simple to describe Egypt’s geography – desert (some mountainous) and the Nile River Valley.  Fully 95 percent of Egypt’s population lives in the fertile, ancient river valley.  It is no accident that the world’s first civilizations formed on the banks of the Nile.  Egypt is a land starved of water, and the world’s longest river, originating in the highlands of Central Africa, flows northward, emptying into the Mediterranean Sea.  In that three thousand mile journey, there is ample opportunity to draw the water to irrigate fields and quench the thirst of people and animals.  We who live in the bounteous Suwannee River Valley can certainly appreciate the importance that the Nile plays in this parched land.
Tourism is a vital part of the Egyptian economy and has suffered during the recent populist revolt.  The dry desert climate attracts many from cold, clammy Europe, and the ancient wonders near Cairo and Luxor are an important attraction.  Egypt played an major role in Biblical history and Christians flock to the ancient land to walk in the footsteps of history.  Did you know that until the Eiffel Tower was built a little over a hundred years ago that the Great Pyramid at 481 feet was the world’s tallest structure for more than 20 centuries?
Most Egyptians are Sunni Moslems.  While most of the ancient sites of the religion are further to the east, Egypt is considered the heart of Islam with its cultural centers and universities.  An important religious minority is the Coptic Christians which make up 10-20 percent of the population.
In modern times, The Egyptians were colonized by the European powers, notably France and England.  That changed with a popular uprising six decades ago.  Since then, Egypt has had three rulers –Nassar, Sadat, and Mubarak – all of whom came from the Army.  We heard during the recent revolt that the Army, now in charge following Mubarak’s fall, is held in great respect.  The Army is large at nearly one million and is very representative of the people.  While the police are held in contempt, the people respect the Army.  During the three week uprising, the Army held its fire and persuasively worked to restore order and calm.
There is great concern over the Muslim Brotherhood, the foundation of radical Islam, begun in Egypt in 1928.  The roots of al-Qaeda can be traced to the Brotherhood.  They were not in charge of the recent popular revolt and struggled to gain a foothold, but they are the best organized of the former regime’s opposition.  Will they hijack the revolution begun by young people with social media such as Facebook and Twitter that the Brotherhood abhors?
Some have likened this revolution to what happened in Iran in 1979, but there is an important difference.  The Ayatollah had been exiled to Paris for more than a decade by the Shah.  The people clamored for his return to lead their revolution.  No such exile or leader is behind the Egyptian revolt.  This was a spontaneous demonstration by the man-on-the-street, spurred by similar dissension in nearby Tunisia.  Where will it spread next?  Perhaps Iran — wouldn’t that be great!

Business & Tax Insights
By Mark Buescher, C.P.A.
Guest Columnist

Although economic conditions in North Florida have been difficult the last two years, to say the least, there have been some rays of sunshine.  One of these has been a low inflation rate.
In 2010, the average inflation rate was 1.53 percent.  This is a sharp contrast compared to 1980, when we suffered another economic downturn.  Inflation in that year hit a whopping 14.7 percent.  Interest rates soared to as high as 20 percent in April, 1980.  Both businesses and consumers suffered greatly, particularly those on fixed incomes.
Fortunately, our current rate of inflation is at historically low averages.  When inflation is low, consumers and businesses are better able to make long-range plans because they know that the purchasing power of their money will hold and will not be steadily eroded year after year.
Low inflation also means lower nominal and real interest rates.  Lower real interest rates reduce the cost of borrowing and, in turn, encourages households to buy durable goods, such as automobiles and refrigerators.  If we keep inflation under wraps, our economy will eventually gain a stronger foothold and we will return to prosperity.
But we, as consumers and taxpayers, are not the only ones that keep a watchful eye on inflation.  The IRS closely monitors the rate as well.  Our tax laws require that certain tax numbers be adjusted for inflation each year.  Since inflation was minimal in 2010, most of these numbers are unchanged or change slightly for 2011.  However, there are a few worth noting as we consider tax planning this year.
For instance, the standard mileage rate, which employees not only use for reimbursement purposes, but business owners use in computing their deductions, increased from 50 cents per mile to 51 cents per mile, effective January 1, 2011.  The rate for medical and moving mileage increased from 16.5 cents per mile to 19.0 cents per mile.
Another benefit of low inflation relates to social security tax.  The maximum earnings subject to social security tax remains at $106,800.  The earnings limit for those under full retirement age is $14,160.  For those at full retirement age, which varies from age 65 to 67, there is no earnings limit.
Another threshold that remains the same in 2011 is the “nanny tax”, which is $1,700 for this year.  If you pay household workers more than this amount during the year, you’re responsible for payroll taxes.
The “kiddie tax” threshold is unchanged for 2011 as well, thanks to low inflation.  If your child is under age 19 (under age 24 for students) and has more than $1,900 of unearned income, such as dividends and interest income, the excess could be taxed at the parents top tax rate in 2011.
On the downside, certain limits that we would like increased, however, remain unchanged due to low inflation.  The maximum individual retirement account (IRA) contribution you can make in 2011 remains unchanged at $5,000 if you’re under age 50 and at $6,000 if you are 50 or older.  The maximum amount of wages employees can put into a 401(k) plan remains at $16,500, unless you are 50 or older.  In which case, you can contribute up to $22,000 in 2011.
As we progress through the year, keep a watchful eye on inflation.  It affects our finances from many different prospectives, including that of taxation.  For now, count your blessings that inflation is low and that we can properly plan for our financial future.
Mark Buescher, CPA is owner and principal of Buescher and Ruff, LLC, a local full service accounting firm in Madison, specializing in tax preparation, business consulting and tax planning.  Tax laws contain varying effective dates and numerous limitations and exemptions that cannot be summarized easily.  For details and guidance for your specific situation, contact your tax advisor.

By Mary Ellen Greene

It has been a long time since I have written a column, but I had two separate thoughts in my mind this week, so I decided to write about them.
The first thought I wanted to write about was my wonderful and gracious mother-in-law, Cora Lee (Harsfield) Greene.  She and I were very close.  She was born in Jefferson County and finished school there.  She later married Thomas Harvey Greene, Sr. on August 12, 1936, and moved to Madison County with her new husband, where she lived until she died on April 1, 1998.
Mr. and Mrs. Greene had two sons, Thomas Harvey Greene, Jr. (Tommy), and William Eugene Greene (Bubba).  Both sons still live in Madison County.
Mrs. Greene had five grandchildren and 11 great-grandchildren.  They loved her so much, and today, they still speak of her in the pet name they gave her, which was “Me-me.”
She was like a second mother to me, and one day when I was in the kitchen talking with her while Tommy was on the tractor mowing, she said, “Mary Ellen, you are the daughter I never had, and I love you so much.”
I will never forget her and what she meant to me.  She passed away in 1998, and I have always remembered a poem that said: “The death of a mother is the first sorrow wept without her.”
Another quote I remember when I think of her is: “The remembrance of a beloved mother becomes a shadow to all our actions; it precedes, or fellows them.”
Cora Lee Hartsfield Greene will always be a driving force in our lives, and the lives of her many friends and adoring children, grandchildren and great-grandchildren.
In closing, I want to say a belated “Happy Valentine Day” to all our readers, our friends and our family.
I personally have the best of all Valentines, however, because, mine is a permanent one.
Several years ago I told The Husband, “You aren’t as romantic as you used to be, because you used to buy me lovely Valentines and they were so romantic.  Now, you hardly remember what the day is all about.”
So, later that day, he surprised me and took me back to my office in the morgue area, and there on my wooden door were huge letters that read:
“Meg -
“Be My Val-N-Tine -
“I Hope This Is Row-Mad-Eck Enough!”

So, this year, I will look at my door again, and know that I am still “his Valentine.”

Tommy – Our Love Is Forever, and you are truly my Redneck Valentine.

“Nuff said….Bye for now….See ‘ya.”

Source: www.toonfever.com