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Neighbor Fencepost.

Publication: Daily Herald (Arlington Heights, IL)
Publication Date: 31-DEC-07 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Neighbor Fencepost.(Neighbor)(Letter to the editor)

Article Excerpt
ECC board filling in for Santa Claus

To the editor: I read with interest the Daily Herald's recent article that Dr. David Sam, the president of Elgin Community College, was unanimously granted an increase in his monthly stipend to $1,000 a month.

The article stated Dr. Sam receives a car allowance for business and "personal" use. He already receives a generous salary of $175,000.

I hope the board of trustees understands these stipends are taxable income to Dr. Sam and that the college has the responsibility to include these stipends as taxable income.

He can report the income and, using the appropriate IRS forms, deduct his "actual" deductible expenses according to the guidelines in the Internal Revenue Code.

Dr. Sam's contract does not overrule Internal Revenue Code. Personal expenses are never deductible. I know because I have been a CPA for over 33 years, and I have a Master of Science in Taxation from DePaul...

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