Cookeville Tax Preparer Recommends Only Taking Child Tax Credit If Necessary
A Cookeville tax preparer is recommending people not take part in the federal Advanced Child Tax Credit program unless absolutely necessary. Jamie Sims of Nelson/Sims and Associates said while it could be beneficial to some, it could hurt others when it comes to tax time. “If you’re already making over the $45,000, and you are […]
Putnam Commissioners Support Process For Selling Fairgrounds
A Putnam County realtor and commissioner said the option plan to sell the fairgrounds makes sense for the county and the developer. Commissioner Darren Wilson said the option will give the Nashville-based developer time to pursue a big box store retailer. “The option, basically what it does is it gives them the sole opportunity to […]
Baxter Approves Final Budget with Commercial Growth Increasing Revenues
Baxter has approved its final $1.2 million budget for the next fiscal year. Mayor John Martin said that new commercial growth is expected to boost revenues for the city. Martin said infrastructure and new vehicles were areas Baxter wanted to target. “We’re looking at a Fast Lane project to repave quite a bit of that,” […]
Putnam School Board Wants To Explore Sales Tax Change
The Putnam County School Board is interested in exploring a change in the way sales taxes fund the school system. Currently, schools are operating on a flat sales tax rate. Chairman Lynn McHenry said that in switch from a flat rate to a percentage rate, it would be an opportunity to see an increase in […]
Crossville Raising Property Tax Rate For Budgeted Infrastructure, Recreation
Crossville will raise its property tax rate to assist the city in completing capital projects in the upcoming fiscal year. City Manager Greg Wood said the general fund budget is currently $19.6 million with projected revenues of $20.1 million. Wood said the property tax rate will go up 15 cents. “We were looking at a […]
Sparta Taking Bids For Start of 8-Year Paving Plan
Sparta has graded all 203 city streets from worst to first as the city begins its eight-year paving plan. 21 percent of the city’s streets received a D and F grade but the plan is to have no F grade in 2022. Public Works Director Dillard Quick said the city wants to pave just over […]
Confusion Over Stimulus Checks Common
As COVID-19 stimulus checks arrive in local accounts, confusion surrounding the payment’s affect on taxes continues. Certified Public Accountant Jennifer Phipps said, despite rumors to the contrary, the stimulus money is not directly connected to your tax returns. “The reason why I think people are thinking it is something related to your future income taxes […]
