Celebrate The 4th at Flying Yankee Open House

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Flying Yankee On Front Page of The Citizen

The Flying Yankee received some additional coverage recently in a front page feature story that appeared in the Laconia (NH) Citizen on Saturday, Sept. 27. It was a very nice, long and detailed piece with several photos. You can view the entire story online by clicking here.

Progress continues on Flying Yankee

The restoration of The Flying Yankee continues and the big news is the completion of the restoration work on the trucks. The trucks were inspected by Amtrak last Monday and returned to the Hobo Railroad, home of the Flying Yankee, in two shipments, Tuesday and Wednesday, July 8 and 9.

Crates have been built to protect the trucks while restoration continues on the rest of the train and the trucks were placed into these crates on August 7. At least one of the crates will be open during the September Open Houses and you’ll be able to see them when you come to visit.

An inspection of the GE 721 Traction Motors was recently performed. One of the Traction Motors is complete and ready to go and the other needs only minor work to make it operational. The Traction Motors should provide at least ten years worth of dependable performance.

Panels with “The Flying Yankee” beautifully painted by Pillsbury Sign Company of Hopkinton Massachusetts were recently placed back on the train, on each side of the Observation Car. What a beautiful job done by Pillsbury Sign Company and we thank them for their contribution to the restoration. They are now working on the large panels, restoring them to their original glory with the Boston and Maine and Maine Central Railroad signage that originally graced The Flying Yankee. Thanks again to Don Pillsbury.

Flying Yankee Featured in NH Troubadour

The Flying Yankee is the featured story in the new NH Troubadour Magazine. The piece was beautifully written by David Lazar. You can also view the story online by clicking here. The history of the NH Troubadour is printed here for your enjoyment.

New Hampshire was weathering the hardship of the Great Depression when in the spring of 1931, the state began publishing a unique, pocket-sized, monthly digest to spotlight the beauty of NH to residents and attract new visitors.

Named for a composer and performer of song during the High Middle Ages in Europe, the old New Hampshire Troubadour proudly sang the praises of its home state. For twenty years this magazine celebrated the scenic mountain ranges, the covered bridges, the apple orchards, the foliage, the farmers, the fierce community pride and independence that have always made the Granite State unique. It sparked the imagination and earned the loyalty of readers with eye-catching, original pictures, prose and poetry. From the works of Robert Frost to those of a folksy local scribe named Uncle Talbot, the Troubadour was a New Hampshire original.

The state’s tourism bureau would ultimately print its last Troubadour in 1951, the magazine a casualty of cost-effectiveness. Over the next decades, it would resurface in numerous iterations under different ownership – most prominently as New Hampshire Profiles.

In 2008, under the direction of Milford-based businessman and philanthropist Robert Finlay, the rebirth of the NH Troubadour began. It was the belief of Finlay, a Granite State native, that there was an opening and a desire for such a digest in modern-day New Hampshire – something to help residents feel good about themselves and their communities; something that would serve as both entertainment and an educational tool.

With a reverent nod to the past and an energized eye to the future, the new NH Troubadour was launched on September 1, 2008 as a monthly, full-color publication. Like its predecessor, it remains a collection of original human interest stories, poetry, photography anecdotes and regular features about New Hampshire’s history and one-of-a-kind towns. It is mailed each month to residents, schools and libraries statewide and presented free of advertisements and free of charge. It is, in short, as it once was: a gift to the people of New Hampshire.

See the Flying Yankee on Chronicle

The Flying Yankee was featured on Chronicle last year on WCVB, Channel 5, in Boston. You can view this segment, by clicking here.

Donations that Make Dollars and Sense

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 will 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 are 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 your estate at the time of death. That is 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 is time to start thinking about your end-of-the-year tax strategy and, if you would like to make a donation to The Flying Yankee Restoration a part of your planning, please give us a call at 603-745-3974.