The Bottom Line
Small business is important to Central Oregon, and to Mid Oregon. Find tips and resources for business, and information about Mid Oregon’s commercial services and business members.
Tax Time is Not about Luck
Don’t let tax time be a mystery that’s out of your control. As your circumstances and tax rules change, review and tweak your tax situation:
Review your withholdings
If you’re employed, at some point you used form W-4 to tell your employer how much tax to withhold from your paycheck. When filling out a W-4, the more allowances you claim, the bigger your paycheck will be, since fewer taxes are deducted. But what you don’t pay during the year, you’ll owe when you file your tax returns.
Conversely, if you have too much tax withheld, you’re giving the government a free loan. You’ll get a refund— without interest—at tax time.
Fortunately, you can Google the IRS withholding calculator and use it to make sure you’re on the right path. If you decide you want to make changes, complete and submit a new W-4 to your employer.
Pay your estimated taxes
If you expect to owe more than $1,000 in taxes, you might need to pay estimated taxes four times a year, usually the 15th of January, April, June, and September. If you don’t make those payments, you could face penalties.
Meet the Affordable Care Act requirements
The Affordable Care Act requires everyone to have health insurance. If you are purchasing your own health insurance plan from the marketplace and are receiving advance payments of premiums, you must keep the marketplace updated with life changes that would affect those payments.
If the marketplace decides you are receiving more assistance than needed, you will have to pay it back when you file your tax return.
At tax time, there’s no such thing as luck. Plan ahead, talk with your tax adviser, and prevent surprises on your next tax return.
Teach Your Children Financial Independence
Are your kids on the right track to financial independence?
For many of today’s young adults, the weakest link lies in learning the basics. According to a 2015 survey conducted by Harris Poll on behalf of Junior Achievement USA , the number of teens who think their parents don’t spend enough time talking to them about managing money significantly rose (21 percent in 2014 to 32 percent in 2015). It’s more important than every to teach your children financial independence.
Achieving economic prosperity is difficult, and it’s especially hard for young people who’ve never learned how to manage money.
The Power Of Education
Your credit union is ideally positioned to respond because we believe in the power of education. Mid Oregon is here to help you launch the youth in your life toward financial independence, and here’s how:
Join. For starters, open a Mid Oregon savings account for each child in your family. As soon as your children can write, have them write their deposits and withdrawals in their savings book. Guide teenagers through using a debit card and tracking transactions.
Share. Include your children in household money discussions. Show them how you budget income and expenses. As their skills improve, give them challenges—such as finding a better cell phone plan, calculating the total monthly cost of owning a car, or sticking to a budget for back-to-school or holiday spending.
Coach. Remind your children to ask for help when they need it. And turn to your credit union when you want help. Our tradition of service and philosophy of self-help make Mid Oregon Credit Union and all credit unions a natural partner in pursuing financial security.
We’re here to help. For more information, contact us at (541) 382-1795 or visit one of our five (soon to be six!) Central Oregon branches.
Tiffany Zeiler Named Manager of La Pine Branch
Bill Anderson, Mid Oregon Credit Union’s President/CEO, announced the promotion of Tiffany Zeiler to Branch Manager of the new La Pine Branch. Tiffany has over 15 years in the industry as a Teller, New Account Representative, and Loan Officer. In her expanded position, Tiffany is responsible for building community relations along with staff and branch operations in La Pine.
“I am pleased to promote Tiffany Zeiler to Branch Manager”, said Mr. Anderson. “She has been a shining star in the organization and has successfully managed the Mid Oregon La Pine Lending Center. Her expanded role will further emphasize her leadership in the community as well as in the new branch”
Tiffany brings a strong commitment to the La Pine community and is currently serving on the Chamber of Commerce board and is part of Put the Shine on La Pine project. In her passion for the community she is dedicated to making it a better place to live, work, and play. As a graduate from La Pine High School, she enjoys spending time with her family, hunting, fishing, picking mushrooms, and enjoying the great Central Oregon outdoors.
Tiffany invites you to visit Mid Oregon Credit Union and discover the benefits of being a Mid Oregon member! The branch in La Pine is scheduled to open in June. With the recent approved Mid Oregon Charter expansion, residents of Lake County and north Klamath County to the COCC boundary will be able to join the credit union and have another financial services option, too.