|
As we announced in the July Newsletter, The Flying Yankee Restoration Group is holding its first ever Flying Yankee Seat Raffle. If every Friend of The Flying Yankee purchases just one ticket, we will have sold all 750 tickets. Of course, you are encouraged to purchase five as that's your best value (you get one FREE) and it also increases your odds of winning. So, buy one and we're done. This is an opportunity to own two $4,500 seats on the Flying Yankee. They will be yours forever and can be handed down to future generations. Ownership of the seats also entitles you to four full days of use of the seats per year. Second prize is a priceless, complete set of glass, hand etched Flying Yankee Dinnerware. Third Prize is framed, signed, numbered (only 2,000 in existence) Steven Cryan print of The Flying Yankee crossing the Frankenstein Trestle in Crawford Notch. Fourth Prize is a a set of four glass, hand etched Flying Yankee mugs. Fifth Prize is a glass, hand etched Flying Yankee Hurricane Lantern. Perhaps you've wanted to be a Flying Yankee seat owner, but felt you couldn't afford to purchase a seat? Here's your chance to possibly join the ranks of Flying Yankee seat owners while helping to support the restoration project. Tickets are only $25 each or five for $100. They can be obtained at the final Open House of 2008 on September 27, online at www.flyingyankee.com, by calling 603-745-3974 or by sending a check or money order to The Flying Yankee Restoration Group, Inc., PO Box 145, N. Woodstock, NH 03262. Only 750 tickets will be sold. The winners will be announced at the April 3, 2009 Flying Yankee Celebration. You need not be present to win. A pair of $2,500 seats have recently become available as the original purchaser was forced to give them up before the balance due could be paid. The $2,500 seats were long ago sold out, so this one pair, seats 19 and 20 are now back up for sale. These seats will be sold on a first come, first serve basis, so call or email quickly to ensure you get these seats. Don't forget that we do accept Master Card and Visa as well as stock transfers (see below). The last of the Flying Yankee Open Houses for 2008 will be held at the Hobo Railroad in >Lincoln<>NH on Saturday, September 27 from 10 a.m. to 4 p.m. (final tour is at 3:30 p.m.). The event will take place rain or shine and will feature ongoing guided tours of the Flying Yankee inside and out permitting folks of all ages to get an up-close view of this historic streamliner. Although reservations are not required for the guided tours and there will be no entry fee to enjoy the Flying Yankee Open House event, tax-deductible donations for the ongoing restoration project will be greatly appreciated. And, of course, you can get your seat raffle tickets as well. This is also an opportunity to view the rebuilt truck wheel assemblies, at least one of which will be on display for this Open House. The completion of the trucks represents a major milestone in the Flying Yankee restoration project. Come and stay for the weekend. The beautiful White Mountains should be very colorful as Fall Foliage begins to take hold. The Lincoln-Woodstock area has dozens of lodging options, including the Comfort Inn and Suites, tons of dining options, including the Café Lafayette Dinner Train and several of Operated jointly by the Now based at the Hobo Railroad in To learn more about the Flying Yankee Open House scheduled for Saturday, September 27 or how you can help support the project though a tax-deductible donation, contact Flying Yankee officials by calling (603) 745-3974, visit the Flying Yankee’s official web site www.flyingyankee.com or send an e-mail to flyingyankee@usa.net. The final 2008 Open House will be Sept. 27. We are pleased to announce that FairPoint Communications is returning as the Plantinum Sponsor of The Fourth Annual Flying Yankee Celebration on Friday night, April 3 at the Executive Court Banquet Facility at the Best Western Executive Court Inn on S. Mammoth Road (Rte. 28) in Manchester, NH .FairPoint Communications has been a very strong supporter of The Flying Yankee, serving as the Celebration's Platinum Sponsor for the second consecutive year. The Flying Yankee Celebration is a casual night of food, fun and meeting old and new friends. We will have more details soon including special room rates at the new Best Western located right next door, menu selections and entertainment for the evening. We hope to maybe even provide some time to get your significant other on the dance floor. We have an awful lot of things happening here at The Flying Yankee and we hope this celebration will be the best one yet and that we'll have a whole lot to celebrate. We know we will be able to celebrate the generous support of all of our "Friends of the Flying Yankee." Stock Transfers The Flying Yankee Restoration Group is set-up to accept stock transfers for anyone wishing to contribute to the restoration in that manner. Just call the office at 603-745-3974 and we'll provide you with all the information you need. Giving long-term appreciated stock offers you a two-fold saving. First, you avoid paying any capital gains tax on the increase in the value of your stock. In addition, you receive a tax deduction for the full fair market value of the stock on the date of the gift. For income tax purposes, the value of such gifts may be deducted up to 30% of adjust gross income, with an additional five-year carry forward. Example: If you purchased stock many years ago for $1,000 and it is now worth $10,000, an outright gift of that stock would result in a charitable deduction of $10,000. In addition, you permanently avoid paying capital gains tax on the $9,000 of appreciation. Bequests While you're considering your 2008 income tax savings, this may also be a good time to consider long-term tax savings. The federal estate tax can still take approximately 50% of one's estate at the time of death. That's a higher tax bite than the income tax! It definitely pays to do some advance planning with your attorney and other professional advisors. We hope you will consider a charitable bequest in your will - to benefit us while you save estate tax dollars at the same time. We can also help you by putting you in touch with attorneys and tax specialists if you are considering such a bequest. IRA Donations Owners of IRAs who are at least 70 1/2 can donate up to $100,000 a year from their retirement accounts and the firts count toward the owner's required minimum distribution (RMD). You get no deduction, but you do get a tax break because the money is not included in your taxable income as it would be if you withdrew funds for yourself. Again, see your IRA administrator or tax attorney. Other Donations You can also give gifts of real estate. This can be especially tax-advantageous. The property may have appreciated in value over the years so that its sale would restuls in a sizeable capital gains tax. If given to us instead, you would avoid this tax and, at the same time, realize a charitable deduction for the full fair market value of the real estate. You can also give a life insurance policty that is no longer needed. You can take the charitable deduction equal to the cash value at the time of the gift and, if annual premiums are still to be made and you cotinue to pay them, those premiums will become tax deductible each year. It's time to start thinking about your end-of-the-year tax strategy and, if you'd like to make a donation to The Flying Yankee Restoration a part of your planning, please give us a call at 603-745-3974. And, remember, the Naming Rights program is in full swing. Own your own seats or the Naming Rights to one of the cars. For more on the Naming Rights program, click here. The State of NH DOT and the Plymouth & Lincoln Railroad are working together to restore train service in the Lakes Region following the flash floods of August 7. The Hobo and Winnipesuakee railroads are totally operational on their Summer Schedules with daily trains at 11, 1 & 3 from The Hobo RR in Lincoln and that The Winnipesaukee Scenic RR has hourly departures from Meredith beginning at 10:30 AM-2:30 PM and from Weirs Beach they are hourly from 11:00 AM-3:00 PM. This is the 1 hour excursion between Meredith and Weirs Beach. The full 2 hour service is expected to resume very soon. The fall schedule begins on Labor Day Monday. For the fall schedule from all of locations visit their web site at www.hoborr.com and at the top click on "Foliage Trains". The next event at the Hobo Railroad, is Saturday, September 6, The Annual Push for Literacy: Proud Supporter of The Flying Yankee Restoration Project Brian McCarthy, IOM, President |
