Page 2 - Hawaii Island MidWeek - Feb 1, 2023

2 HAWAI‘I ISLAND MIDWEEK FEBRUARY 1, 2023
ABookmark This Foldable Paper Project
lthough it’s a couple of or to show them that you love having 6-by-6-inch paper, it makes a great that’s why we included some when weeks away, before you them as a part of your life. corner bookmark. we revamped The Joy of Crafting know it, Valentine’s Day This week’s project is fast and sim- If you use a 12-by-12-inch print- logo.
will be here. And the holiday is not ple. Just a few folds, a tuck here and ed cardstock, you can make a sturdy Find this projects sheet and many just for couples. It can be a nice way there, and you’ll have a heart pocket. pocket to put treats or even a gift card others online at benfranklinhawaii. to thank people for all they do for you When you make it smaller using a inside. I like hearts all year long, and com.
8 You can also use the heart as a treat holder.
This sample was made with a 12-by-12-inch cardstock. Punch a hole on each side of the pocket and string ribbon through for a hanger. Fill pocket with treats. Or, slip the filled pocket inside of a clear cellophane bag and tie up with a ribbon.
5 Repeat steps 3 and 4 with the
left side point. This is the bookmark base.
1 Position the paper on point like a
diamond. Fold the top point down to the bottom point, forming a trian- gle. Crease well.
3 Take the right side point and
fold it down to the bottom point. Crease well.
6 To make a heart book- mark, use the scissors to
curve cut the bottom square on each side to the center point, forming the heart shape.
SUPPLIES AND TOOLS:
• 6-by-6-inch square paper*
• scissors
• paper creaser, optional
• 1/4-inch hole punch, optional • 12 inches of ribbon, for hanger,
optional
* Note: You can use any size of square paper; your heart will just be larger or smaller. Using light-weight paper like origami, gift wrap or copy paper makes it easier to fold. You can use thicker weights like cardstock
or construction paper, especially if you are making the hearts larger and using for pock- ets. The thicker paper will be a little harder to crease and fold.
7 To use as a bookmark, flip the piece over and tuck onto the top corner
of a book page. You can write a message onto the heart — just be sure the ink you use won’t rub off onto the book’s pages. You can also add embellishments like stickers as long as they are relatively flat so the book can close easily.
2 At the bottom points, take the top layer and
fold up to the cen- ter of the straight fold. Crease well.
4Tuckthe point into and under the pocket. Crease well.
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hawaiianrealty.com 800-667-5028 ext. 8122
Denise S. Nakanishi
RB-17031, ABR, CRS, GRI, SRS
“Major Mom is a Major Difference”
cell 808-936-5100 majormom@ilhawaii.net
Aboutthistimeofyear,mostofusarenervously contemplating April 15th. Here are a few reminders courtesy of my excellent tax preparer and IRS publication 936, which explains mortgage deductions. The rule of thumb is that interest from a first mortgage is fully deductible as long as your mortgage balances don’t exceed. $750K unless you purchased before Dec 16,2017,then$1million(formarriedcouples).Withthe
recentlowrates,anyonewithenoughequity todosohasprobablyrefinanced.Equitylines arepowerfultoolsforinvestorswantingto takeadvantageofopportunitiesintoday’s market. With the limited availability of landloans,this(andsellerfinancing)may becomeaprincipalfundingsourceforvacantparcels. Ads encouraging homeowners to tap the equity in their principalresidencealwayshavethecaveatthatinterest “may”bedeductible.Interestonequityloans,equity lines and cash out refinances is now only deductible if
youusethemoneytobuy,buildorimproveyourhome. Interest deductions for monies used to purchase rental properties or for business investments are treated differently. Don’t forget, equity lines and equity loans are secured with a second mortgage against your home. Interest from both your principal and second home mortgages can usually be deducted. You don’t havetousethesecondhomeduringtheyearaslongas it’snotrented.Ifrented,acertainamountofpersonal useisrequired. Besuretoaskyourtaxadvisoror studytheIRSpublicationbeforeassuminginterest isdeductible.Pointsonapurchasearedeductible. Points paid on a refinance are pro-rated over the lifeofthemortgage.Increativefinancingaproperty maybesoldby“wrapping”theunderlyingmortgage. In this case the buyer pays the seller and the seller continuestopayhismortgage.Theseller’slenderis supposedtobenotifiedwhenamortgageisbeing wrapped. Because this is an encumbrance on title,
thelendercouldaccelerate(call)themortgagesoat times, buyers and sellers do not record the agreement. In this case, the interest would not be deductible. Pre-payment penalty payments, common on sub-prime or finance company mortgages, are usually deductible. Even though active duty soldiers receive a non-taxable housing allowance, their mortgage interest is still deductible. Mortgage Insurance premiumsarealmostalwaysrequiredonpurchases withlessthan20%down.Sadly,thedeductionof mortgageinsurancerecentlyexpired.Certainly,every situationisdifferentsobesuretoresearchPub936 andconsultyourtaxadvisor.Formostofus,ourhome ownershipdeductionislikelytheclosestthingtoan economic stimulus we’ll ever see, especially at tax time.Don’townahome?Hmmm...betIknowhowto fixthat!
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HELPING WITH YOUR DEDUCTIONS
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