Expenses

The fact that the Baltimore Grand Prix happened at all - much less that it went smoothly - is remarkable and a testament to the professional management its new organizers brought to the event. Race On LLC and Andretti Sports Marketing took over management about 100 days before the race, and many - including this editorial page - questioned whether they could pull it off in that time. They did, and by many accounts they improved on some aspects of last year's grand prix. That said, we defer judgment on whether the race should be considered a success.

From the time she was a little girl, Dorian Rehfield understood the importance of saving money. She has always made sure to set aside enough funds to cover a year's expenses just in case of an emergency. She just never thought she'd actually need to tap into that account, as she is doing now. Rehfield, 42, lost her job as director of marketing services when her Glen Cove, N.Y., company shut down in August. So she's now forced to live off her savings and unemployment, which is paying her about 14 percent of her salary, until it runs out in about three months.

Members of the Maryland Association of Certified Public Accountants are answering readers' tax questions through April 15.Q: I am retired and collect Social Security, a pension and some investment income. This year I've also earned a little by selling advertising for a publication on a commission basis. I'm considered a self-employed contract employee and will receive a Form 1099. Expenses incurred in performing this job such as postage, toll calls, and mileage are not reimbursed. Can I deduct these expenses from the small income I received from this job?

Members of the Maryland Association of Certified Public Accountants are answering readers' tax questions through April 15. Q.I lost my job last year due to plant closure. I went to unemployment and took a computer course and I got a banking job. I also bought books for the computer course as well as a computer to follow up on it. I also had to buy professional clothes. Can I deduct any of these expenses? Also, when I was job hunting, can I deduct the parking fees and things like that? A.Education expenses (computer course)

First Fidelity Bancorp. announced today that it will cut the staff of its newly acquired Bank of Baltimore unit by half as part of a larger drive to cut costs throughout the $36 billion bank holding company, which is based in Newark, N.J.The cuts are much deeper than First Fidelity had said it would make when its deal to acquire Baltimore Bancorp, the Bank of Baltimore's former parent company, was announced last March. At a press conference the day the deal was disclosed, First Fidelity chief financial officer Wolfgang Schoellkopf said he expected to reduce the Maryland staff by about 25 percent.

Provident Bankshares Corp., parent of Provident Bank of Maryland, reported that sharply lower interest expenses and higher operating expenses resulted in a 5.1 percent increase in second-quarter income.Three months ended 6/30/92... ... Income.... ... ... ... Share '92... .904,000... ... ... .. 0.14'91 ... 860,000... ... .. ... 0.14% change +5.1... ... ... .. ... 0.0Six months ended 6/30/92... ...Income... ... ... ... Share'92... 1,510,000... ... ... 0.24'91... 1,675,000... ... ... 0.28% change 9.9..

I an not as outraged as your editorial staff at companies sponsoring tables and expenses for access to politicians at information meetings at the National Speakers Conference ("Buying access," June 20). After all the funds do not flow directly into the coffers of these public officials but are only used for defraying expenses. If this buying of access to politicians, then certainly any organization giving to a political party or a candidate is doing the same. This is in the tradition of politics and will continue whether it is regarded as ethical or moral.

The returns still aren't in yet, but athletic director Andy Geiger feels "good" about Maryland's Independence Bowl venture from a financial standpoint."

On January 9, 2010; GERTRUDE L. PHILLIPS. Friends may call on Thursday, January 14, from 7 to 9 P.M., at the Eline Funeral Home, 934 S. Main Street, Hampstead, where funeral services will be held on Friday at 11 A.M. Memorial contributions may be made to the Eline Funeral Home to help defray funeral expenses.

ANNAPOLIS -- The Anne Arundel County Council reluctantly agreed last night to bail out Sheriff Robert G. Pepersack -- but not before calling him a poor manager who could use some on-the-job training."