Business Spotlight - PitStop Fuels - By Michelle Libby

Dana Lampron started Pitstop Fuels in 2005 after a seven year hiatus to play dad to his two daughters. He finally decided to go back to work with encouragement from his wife and daughters. He had owned an oil company before and knew the business. 

Pitstop Fuels sells and delivers oil and propane to Standish, Windham, Cape Elizabeth, Scarborough, Biddeford, Saco, Old Orchard Beach, Bridgton, Casco, Raymond, Harrison and all towns in between. Pitstop Fuel has 20 oil trucks, eight propane trucks, a few service trucks and a few big tanker trucks. They only started delivering propane three years ago when the need arose. 

“We’re a local, family-owned business. We’re just a local company, taking care of our local customers,” Lampron said. 

The business is out of Standish and he feels that Pitstop Fuels is centrally located to all of their customers. “I stay in this area to better service the customers,” he said. Most customers don’t have to wait for oil if they need it. For communities further away trucks might only be in that area on Tuesday and Thursday or Monday, Wednesday, Friday. 

Pitstop Fuels has very competitive prices, Lampron said. “If we’re not the lowest, we’re right there with them,” he said. 

The company has a great reputation in the community being voted number one on many customer surveys for the last four or five years. 

Pitstop Fuels offers any services like auto delivery, fuel assistance, often working with Neighbors  Helping Neighbors a local organization that helps families in need. “We try to help out where ever we can,” Lampron said. “I’ve lived in this area my whole life.” 

This year oil consumption is up, Lampron said. “The cold weather came early and is not letting up. People who usually use two tanks of oil are on their fourth tank,” he said. “We do our best to take care of the customers.” 

This year a law was passed to allow the 47 Pitstop Fuel and other fuel drivers to work more than 12 hours a day to meet demand. That just ended, Lampron said. People got nervous and if they have tricky driveways or icy ones, it’s hard for the drivers. It takes more time. Also having to trudge through 3-foot snow banks is tough on many of the drivers. The company makes reminder calls to ask customers to shovel a path to the oil tank.

“We deal with the cold, but snow slows you right down,” he said. “And you don’t want an oil truck overturned on your driveway.” Safety comes first.

For more information on Pitstop Fuels visit www.pitstopfuels.com. You can order online or call 642-8357 or 1-888-773-8357.

7 tips to overcome life's toughest moments - By Shawn Anderson

LOS ANGELES, CA - Motivational author and speaker, Shawn Anderson, has interviewed hundreds of people who have experienced tragedy, failure and setback. He's also been witness to many who have walked through their toughest moment only to make it to the other side with an increased passion and purpose for living.
 

"It's inevitable that at one time or another life will punch us hard in the gut; no one is immune to experiencing tragedy or failure," Anderson said. "But when it's our turn to feel life's stomach blow, how will we handle it? Will we 'go the extra mile' and passionately keep on living, or will we just give up and go through the motions?"

In his interviews, Anderson learned that extra-mile people who transition positively through life's toughest moments practice at least one of these seven regrouping strategies. 

1. They don't quit on life. "Tragedy might have happened, huge mistakes might have been made, but the world continues. People who have walked successfully over life's hot-coal moments always keep going. They never quit living," Anderson shared.

2. They live day-by-day. "It's easy to get overwhelmed by the 'What am I going to do now?' feeling, but extra-mile people focus on the now. They don't let thoughts of how they're going to deal with tomorrow defeat them," Anderson said. 

3. They find support. "By forging relationships with positive, move-forward type people, survivors trigger positive energy to flow back into their lives," Anderson pointed out.

4. They get involved again. "Extra-mile people transcend life's tragedies by not choosing isolation when life knocks them down," Anderson shared. "It's easy to want to hide in a cave after something bad happens, but the longer we stay in the cave, the more challenging it is to ever leave it."

5. They remain optimistic. "Extra-mile people support themselves with their own words and actions. They don't let negative self-talk rule their brains, and they make sure not to surrender to negative, self-defeating emotions," Anderson said.

6. They trust their faith and look for a higher purpose in their loss. "Extra-mile people believe that there is a stronger power at work in the world. Faith in a higher power...and yourself...works miracles in overcoming bad events," Anderson quoted.

7. They seek to add value to the world. "People who have weathered a life storm recognize the opportunity to re-evaluate their own contribution to the world. They use their event not as a forever defeat, but rather as an igniting spark to do something meaningful," Anderson said.

Shawn Anderson is a six-time author, keynote speaker and motivational success coach. His "go the extra mile" philosophy and ability to produce results have been praised by political leaders, world record holders and media outlets across the world. His book titles include A Better Life: An Inspiring Story About Starting Over and Extra Mile America: Stories of Inspiration, Possibility and Purpose. For more information, visit www.ShawnAnderson.com.

Financial Focus - Smart Financial moves for women

On March 8, we observe International Women’s Day, a celebration of women’s economic, political and social achievements. Yet women everywhere still face challenges — and here in the United States, one of their biggest challenges may be to gain the resources they need to enjoy a comfortable retirement. So, if you’re a woman, what steps should you take to make progress toward this goal?  
 

Your first move should be to recognize some of the potential barriers to attaining your financial freedom. First of all, a “wage gap” between women and men still exists: The median earnings of full-time female workers are 77 percent of the median earnings of full-time male workers, according to the U.S. Bureau of Labor Statistics. Also, women drop out of the workforce for an average of 12 years to care for young children or aging parents, according to the Older Women’s League, a research and advocacy group — and this time away from the workforce results in women receiving lower pensions or accumulating much less money in their employer-sponsored retirement plans.

To give yourself the opportunity to enjoy a comfortable retirement lifestyle, consider these suggestions: 

• Boost your retirement plan contributions. Each year, put in as much as you can afford to your traditional or Roth IRA. A traditional IRA grows on a tax-deferred basis, while a Roth IRA can grow tax free provided you meet certain conditions. Also, take advantage of your employer-sponsored, tax-deferred retirement plan, such as a 401(k), 403(b) or 457(b). At the very least, contribute as much to earn your employer’s matching contribution, if one is offered. And every year, if your salary increases, try to boost your contributions to your retirement plan. 

• Consider growth investments. Some evidence suggests that women may be more conservative investors than men — in other words, women may tend to take fewer risks and pursue “safer” investments. But to help build the resources you will need for a comfortable retirement, consider growth-oriented vehicles in your IRA, 401(k) and other investment accounts.

• Talk to your spouse about Social Security. If your spouse starts collecting Social Security at 62 (the earliest age of eligibility), the monthly benefits will be reduced, perhaps by as much as 25 percent. This reduction could affect you if you ever become a widow, because once you reach your own “full” retirement age (which will likely be 66 or 67), you may qualify for survivor benefits of 100 percent of what your deceased spouse had been receiving — and if that amount was reduced, that’s what you’ll get. Talk to your spouse about this issue well before it’s time to receive Social Security. (You may also want to talk to a financial advisor for help in coordinating survivor benefits with your own Social Security retirement benefits.)

• Evaluate your need for life insurance benefits. Once their children are grown, some couples drop their life insurance. Yet, the death benefit from a life insurance policy can go a long way toward helping ensure your financial security. Again, talk to your spouse about whether to maintain life insurance, and for how much. 

International Women’s Day is a great occasion for commemorating women’s accomplishments. And by making the right moves, you can eventually celebrate your own achievement of attaining the financial security you deserve.    

This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.

Tax Tips with Kevin - Tax breaks for the middle class - By Kevin Brunelle

Tax breaks for the wealthy grab a lot of headlines, but there are plenty of tax breaks available for middle and low income families if you know where to look. Here are a few of my favorite tax credits:

Saver’s Credit: Low and moderate income workers who save for retirement in 401(k)s and individual retirement accounts may be eligible for a tax credit worth up to $1,000 for individuals and $2,000 for couples. The credit can be claimed by individuals with adjusted gross income of $29,500 or less and couples with AGI of $59,000 or less.

The credit is worth 10 percent to 50 percent of the first $2,000 you put into your retirement account. The lower your income, the higher the percentage you get back via the credit. 

Some key exceptions: Taxpayers under age 18, full-time students and those claimed as dependents on their parents' returns are not eligible, regardless of their income.

The Saver’s Credit is powerful because you get twice the tax benefits. By contributing to your retirement you are reducing your tax burden, but on top of that you are also getting a credit. Workers who missed out on contributing to their 401k in 2013 still have until April 15, 2014, to make an IRA contribution and grab this valuable tax break. 

Earned Income Tax Credit: The Earned Income Tax Credit (EITC) is a tax credit designed by the government as an incentive for low to moderate income taxpayers to work. For 2013, the maximum EITC ranges from $487 to $6,044 depending on your income and number of children. 

The income limits on this program are fairly low. If you have no kids, for example, your earned income and adjusted gross income (AGI) must each be less than $14,340 if you're single and $19,680 if you're married filing jointly. If you have three or more kids and are married, though, your earned income and AGI can be as high as $51,567. 

Unlike most other tax credits, the EITC is refundable. This means that the credit can wipe out any taxes owed and result in a check back to you above and beyond what you paid in. The exceptions are considerable—more complicated than I can list here—so be sure to check with a professional to see if you qualify. 

Child Tax Credit: With a new baby also comes a $1,000 child tax credit to lower- and middle-income earners, and this is true until your dependent son or daughter turns 17.

You get the full $1,000 credit no matter when during the year the child was born. The credit begins to disappear as income rises above $110,000 on joint returns and above $75,000 on single and head-of-household returns—although there's no limit to how many kids you may claim on a return, as long as they qualify. For lower-income taxpayers, the credit is refundable just like the EITC.

The above is a summation of complex tax law. Please check with your tax professional before making a decision. Our CPAs at Milliken, Perkins, and Brunelle are available to assist you any time of year.

Fast Laps Raceway - By Michelle Libby

The roar of tiny engines whirl around the new Fast Laps Raceway at the Windham Mall. 

Two weeks ago Fast Laps Raceway moved into the vacant space next to Smitty’s Cinema much to the excitement of local racing fans. 

“It’s a passion and hobby. It’s a sport that’s affordable,” said co-owner Shawn Brackett. The “slot car” racing takes place on twisting and winding tracks that have space for eight cars controlled by a wired remote. The drivers control the speed of the cars as they careen around the track. 

The cars are 1/24 scale and 1/32 scale models of traditional race cars. Car owners use decals and paints to personalize their cars or make them to resemble a NASCAR car or vintage cars if they plan to race them in competitions. There are also more durable rental cars at the track. 

“Instead of driving with your foot, you’re driving with your finger,” Brackett said. 

Slot car racing began in the 1960s in basements. In the last 30 years there were many commercial tracks in the southern parts of the state. Brackett has been slot car racing for 22 years in addition to racing at Beech Ridge in Scarborough. 

Co-owner Jeff Martel has been slot car racing for 12 to 15 years. “We want to see (slot car racing) succeed,” said Martel.

Creating the cars is fun, but the excitement comes from racing what people have created. This weekend Fast Laps Raceway is holding their grand opening from 11 a.m. to 9 p.m. on Friday and 9 a.m. to 9 p.m. on Saturday and Sunday. There will be races, prizes and free hot dogs while they last. Brackett and Martel will be giving away three cars over the course of the weekend. 

“It’s more fun the more people who come through the door,” said Brackett. Every Saturday the raceway has race competitions. People use their own cars to compete in timed races. There will be a ladies race on Sunday at 3 p.m. 

 

Brackett intends to start a junior racing division that meets on Friday nights starting at 6 p.m. with pizza and ending at 8 p.m. for $10 each. 

For those who do not want to invest the $50 to have a car (which Fast Laps sells), Fast Laps also has rental time for those old enough to squeeze the trigger. 

“Anyone who likes speed from two to 100 will like this,” said Brackett. 

Track records have been set on one of the tracks. Glenn Allen of Auburn completed the track in 5.46 seconds. Doug Clement of Gorham had the most laps at 218. This weekend the other track record will be set. 

People who would like slot car racing are those who like racing, obviously, but also those who like models, competitiveness or want something to do with their families. “Relationships are irreplaceable,” said Brackett. Father-son, mother-daughter or any combinations thereof are seen regularly. “We have a core group that comes in here and they are so thankful (to have something that brings them together),” said Brackett. 

“A bad day at home is a good day at the slot car track,” he added.

Martel and Brackett are happy to be a part of the Windham community and want to be involved. 

Rentals start at $10 for half an hour or $15 for an hour. There are also value plans. 

Fast Laps also does birthday parties, corporate and group events and team building. 

“It’s much better than ice fishing,” said Brackett. “And, it’s fun for the whole family.”

For more information visit Fast Laps Raceway on Facebook.