THIRTY SECONDS OVER TOKYO

THIRTY SECONDS OVER TOKYO

When asked to identify the base from which they flew, President Franklin Roosevelt replied, "Shangri-La." Recently, in Fort Walton Beach , Florida , the surviving Doolittle Raiders gathered publicly for the last time.  They were among the most universally admired and revered men in the United States. There were 80 Raiders who, in April of 1942, just four months after the attack on Pearl Harbor, embarked on one of the most courageous and heart-stirring military operations in this nation's history. The mere mention of their unit's name, in those years, would bring tears to the eyes of grateful Americans.   After Japan 's sneak attack on Hawaii , with the United States still licking its wounds, something dramatic was needed to turn the war effort around.  Even though there were no friendly airfields close enough to Japan for the United States to retaliate, a daring plan was devised. Sixteen North American B-25s, twin-engine "Billy Mitchells," were modified so that they could take off from the deck of an aircraft carrier. This had never before been tried -- sending Army Air Corps medium bombers from the deck of a ship at sea. The 16 five-man crews, under the command of then Lt. Col. James Doolittle, (he retired as a brigadier general) who himself flew the lead plane off USS Hornet, knew that they would not be able to return to the carrier. They would have to hit Japan and then hope to make it to China for a safe landing.  On the day of the raid, the Japanese military caught wind of the plan. The Raiders were told that they would have to take off from much farther out in the Pacific Ocean (more than 600 miles) than they had counted on. They were told that because of this they would not have enough fuel to make it to safety. They went anyway.  They bombed Tokyo, then flew as far as they could. Four planes crash-landed in China ; 11 crews bailed out, and three Raiders died. Eight more were captured; three were executed.  Another died of starvation in a Japanese prison camp. One crew made it to Russia.  The Doolittle Raid sent a message from the United States to its enemies, and to the rest of the world: We will fight. And, no matter what it takes, we will win.  Of the 80 Raiders, 62 survived the war. They were celebrated as national heroes, models of bravery. Metro-Goldwyn-Mayer produced a motion picture based on the raid. "Thirty Seconds Over Tokyo ," starring Spencer Tracy and Van Johnson, was a patriotic and emotional box-office hit, and the phrase became part of the national lexicon. In the movie-theater previews for the film, MGM proclaimed that it was presenting the story "with supreme pride." Beginning in 1946, the surviving Raiders have held a reunion each April, to commemorate the mission. The reunion is in a different city each year. In 1959, the city of Tucson, Arizona, as a gesture of respect and gratitude, presented the Doolittle Raiders with a set of 80 silver goblets. Each goblet was engraved with the name of a Raider.  Every year, a wooden display case bearing all 80 goblets is transported to the reunion city. Each time a Raider passes away, his goblet is turned upside down in the case at the next reunion, as his old friends bear solemn witness.  Also in the wooden case is a bottle of 1896 Hennessy Very Special cognac. The year is not happenstance: It was Jimmy Doolittle's birth year. There has always been a plan: When there are only two surviving Raiders, they would open the bottle, at last drink from it, and toast their comrades who preceded them in death.  As 2013 began, there were five living Raiders.  Then, in February, Tom Griffin passed away at age 96.  What a man he was. After bailing out of his plane over a mountainous Chinese forest, he became ill with malaria and almost died. When he recovered, he was sent to Europe to fly more combat missions. He was shot down, captured, and spent 22 months in a German prisoner of war camp.  Out of the original 80, only four Raiders remain: Dick Cole (Doolittle's co-pilot on the raid), Robert Hite, Edward Saylor, and David Thatcher. All are in their 90s. They have decided that there are too few of them for the public reunions to continue. The men have decided that after this final public reunion they will wait until a later date -- sometime this year -- to get together once more, informally and in absolute privacy. That is when they will open the bottle of brandy. The years are flowing by too swiftly now; they are not going to wait until there are only two of them. They will fill the four remaining upturned goblets, and raise them in a toast to those who are gone. I received this historic footnote in an email... source unknown... it is worth passing on to my Readership.  MARILYN

www.allianceforaging.org  Find answers about aging and eldercare services. Here is a good place to start

www.caremanager.org Can find you a geriatric care manager who can help find local resources for seniors.

www.nasmm.org  The National Association of Senior Move Managers can handle logistics when a senior wants to downsize – here you can find a Senior Move Manager.

www.naela.org can design a financial plan to take advantage of government assistance and handle estate planning.

www.palmbeachseniorplacement offers FREE service to help seniors find the best match for independent and assisted living facilities, including Alzheimer's/dementia care in Broward, Palm Beach, Martin and St. Lucie Counties.  We take you on tours, refer to resources for VA and Medicaid finnacing and more.  Contact Candy Cohn, 772-486-4914, candy@palmbeachseniorplacement.com

Readership: if you want to add another resource, it will be appreciated if you email marilynfjacobs@gmail.com.

SELLING YOUR HOME? HERE IS SOME FOOD FOR THOUGHT...

FISCAL CONDITION OF THE 50 STATES

Note that Florida came in #6, near the 

top of the list for fiscal conditions 

for all 50 states.

NOW is the time to buy in Florida

before prices rise again

FLORIDA REAL ESTATE MARKET IS 

IN RECOVERY MODE....

HOW MUCH ARE HOME SALES UP?

Florida Realtors News reports single family 
home sale closings are up 8.6% compared to 
Dec 2012.  National Association of Realtors 
says prices and sales are strongest in 7 years.  

The number of listings is increasing. 
Statewide consecutive gains began 
over two years ago. 

Generally, properties are closing faster with 
median days on market 50 days for 
single family homes and 51 days 
for townhouses and condos.  
Translation: 50% of homes on the Florida 
market sell in less than two months.  

While inventories are rising, cash sales are 
declining and there are fewer 
distressed properties on the market.  
Investor activity is lower.

WHERE DOES OUR COUNTY’S PROPERTY TAX MONEY COME FROM?

West Palm Beach has the highest 2013 tax bill, 69.7mm with Boca Raton next at $59.1MM), Delray Beach at $47.3MM and Palm Beach Gardens at $47MM.  Palm Beach’s property tax bill of $41MM makes it 5^th highest in the county.

Largest tax bill goes to Florida Power & Light ($76.3MM), the Breakers is one of the top 10 taxpayers with the highest tax bill on the island, and includes properties in West Palm Beach. 

Other high tax payers include Boca Raton Town Center’s trust, Bell South Communications, U.S. Sugar Corp and the owner of the Gardens Mall in Palm Beach Gardens, Comcast, Boca Raton Reosrt & Club, and Wellington Green mall owners.

·       686,556 property tax bills are mailed out by the tax collector

·       Total tax revenue is $3,025 BB.

Tax Collector is Anne Gannon, whose name you know if you pay property taxes.

WHEN YOU DONATE TO A CHARITY DO YOU KNOW WHERE YOUR MONEY GOES?

PAP CORPS: CHAMPIONS FOR

CANCER RESEARCH

PALM BEACH COUNTY SHOPPING HAPPENINGS

If you have headed north from Okeechobee recently, you have seen large cleared areas in the Palm Beach Lakes Boulevard region, right side of I-95. 

A 900,000 sq ft development is under construction at this $200MM project.  The area covers 80-acres.  Palm Beach Outlets in West Palm Beach, scheduled to open on Valentine’s Day, will have more than 100 retail stores, including DKNY Saks Fifth Avenue OFF 5^th and Kenneth Cole Outlet.  These renderings will give you an idea of how nice it will look... and lure you to come and shop here once it opens.

This was the site of the former Palm Beach Mall.  An adjacent retail center whose opening is planned for next fall will include Whole Foods Market and a Nordstrom Rack.  Dining venues will be included. 

The City of West Palm Beach anticipates about $1MM annually in property taxes from this development.  About 1500 full-time and part-time jobs will be created.  Stay tuned at Facebook.com/Palm Beach Outlet.

NEWEST ZOO RESIDENT IS BEAUTIFUL FLORIDA PANTHER, MIRASOL

Next month, after “Mira” is out of quarantine, visitors can see this beautiful jungle cat, who is 12 years old.  Her elderly owner, founder of the South Florida Wildlife Rehabilitation Center in Homestead, has a terminal illness and he contacted state wildlife officials to help him find homes for his animals.

The Palm Beach Zoo and Conservation Society at Dreher Park is excited about their new resident and they say she is very affectionate with humans, and appears to have been well loved and cared for in her last home.  Yet, panthers are known to be solitary animals.  About 80 to 100 panthers remain in Florida, and they are now one of the most rare and endangered mammals in the world.  The Panther National Wildlife Refuges is east of Naples, Florida.  Panthers are at great risk of extinction.

Mira has a few health problems, including curvature of the spine, but otherwise is doing well. General curator Jan Steel says that having Mira, a “pure” Florida panther, is exciting and “It allows us to show the differences between the western cougar or puma and the Florida panther.

Three Malayan tiger brothers, Jaya, Bunga and Penari have left the Palm Beach Zoo for a new home at the Jacksonville Zoo.  Since 1900 the wild tiger population has decreased by more than 95% and there is a Tiger Conservation Campaign among zoos.  The Wildlife without Borders Rhinoceros and Tiger Conservation Fund funded 53 projects in 15 countries for these conservation project,  implemented by the U.S. Fish and Wildlife Service, a federal agency of the Department of the Interior.  Here is more information.  The tiger pictured above is at the Smithsonian Zoo in Washington DC.

The Zoo recently added “and Conservation Society” to its name to stress they provide care for endangered species, which has been part of their agenda for a long time.

WSJ: UNITED HEALTH DROPS THOUSANDS OF DOCTORS FROM INSURANCE PLANS

(Reuters) – UNITEDHEALTH GROUP dropped thousands of doctors from its networks in recent weeks, leaving many elderly patients unsure whether they need to switch plans to continue seeing their doctors, the Wall St Journal reported on Friday.

The insurer said in October that underfunding of Medicare Advantage plans for the elderly could not be fully offset by the company's other healthcare business. The company also reported spending more healthcare premiums on medical claims in the third quarter, due mainly to government cuts to payments for Medicare Advantage services.

The Journal report said that doctors in at least 10 states were notified of being laid off the plans, some citing "significant changes and pressures in the healthcare environment." According to the notices, the terminations can be appealed within 30 days.

Tyler Mason, a UnitedHealth spokesperson, was not immediately available for comment when reached by Reuters.

The insurer told the WSJ that its provider networks were always changing and that it expected its Medicare Advantage network to be 85 percent to 90 percent of its current size by the end of 2014.

UnitedHealth is participating in about a dozen new state insurance markets that launched on October 1 to offer subsidized health coverage under President Barack Obama's healthcare overhaul.

The insurer said previously it planned to withdraw from some markets in 2014 because of the government funding cuts.

Another top health insurer, Aetna Inc , also warned in October that it expected slowing growth in 2014 in its Medicare Advantage plans.

To find the lowest priced Medicare Supplements, see http://www.naaip.org/insurewithMarilyn and you can sign up there or call 561-638-9818.

UPDATE ON NEW TREND OF CREATING SPIRITUAL SPACE IN YOUR HOME

 Architects and builders are incorporating meditation gardens, yoga and tai chi studios and private chapels into home plans. 

Tea Houses with sparse furnishings are a newer addition to some homes.

Feng shui specialists are called upon to consult with about design principals or to conduct special ceremonies.  Outdoor elements are brought within vision.  Beautiful gardens with plantings and pebbles are featured.  Antique doors are popular.  Water features have become important, such as fountains and waterfalls.  Homeowners want natural materials and light colored woods such as maple, bamboo and oak. 

Asian influences prevail.  Handmade sliding screens and tatami mats are included as well as koi ponds and bonsai trees. 

Tea rooms are places for meditation and for snacks and dinners.  During the Colonial period, private prayer spaces were included within homes, but in the 1960’s, communal worship became more popular.

SECRET TAX BREAKS IN COMMUNITY ASSOCIATIONS - DISCUSS THIS WITH YOUR ACCOUNTANT

 

If you are selling your home in a community association, have you taken advantage of every possible tax break? Did you include your percentage interest in the many improvements which your association has made over the years?

Let's compare these two situation. You purchased your single family house many years ago for $100,000. Over the years, you have spent $50,000 in improvements and have the bills to document this. This increases your basis for tax purposes to $150,000. You sell the property for $650,000. Your profit (excluding for this discussion sales commissions and settlement costs) is $500,000. Currently, under Federal law, if you are married, file a joint income tax return, and have owned and lived in the house for two out of the five years before sale, you can exclude up to $500,000 of your gain; accordingly, in our example, you will not have to pay any capital gains tax. If you are single - or file a separate tax return - you can exclude up to $250,000 of your profit. The difference - $250,000 - will be taxed. Keep in mind that as of this year, the capital gains tax rate has been increased, and many homeowners will have to pay up to twenty percent of a portion of their gain.

Now let us change this example to the sale of a condominium, cooperative or a house in a homeowner association. Same facts: you bought for $100,000 and sold for $650,000. Since the IRS will consider your profit at $550,000, even if you are eligible for the up-to-$500,000 exclusion of gain, you will have to pay capital gains tax on the $50,000 overage.

However, there are "secret" benefits you probably overlooked - or were not even aware of: the improvements made by your association including the qualifying energy efficiency improvements added to the complex.

According to the Internal Revenue Service "You need to know your basis in your home to determine any gain or loss when you sell it. Your basis in your home is determined by how you got the home.. (IRS Publication 523, entitled "Selling Your Home").

For example, if you bought or built the property, your basis is what it cost you. If it was a gift, your basis is the basis of the person giving you the property. And if you inherited the house, your basis will most likely be the fair market value as of the date of death, called the stepped-up basis.

Let us define some important terms:

·         Gain.Also known as "profit," and the gain on the sale of your home is the amount realized minus the adjusted basis of the home you sold.

·         Amount Realized.This is the selling price of your old home minus your selling expenses. These would include real estate commissions, advertising fees and legal fees incurred exclusively in the selling process.

·         Adjusted Basis.This is your basis in the property increased or decreased by such expenses as settlement fees or the costs of additions and improvements that have been made to your property.

Thus, as can be seen, in order to reduce your gain, (and pay less tax), you want to legitimately increase both your basis and your selling expenses.

Let 's go back to our example. We have agreed that you have made a profit of $550,000 and will have to pay capital gains tax on that additional $50,000.

Your community association has spent a considerable amount of money improving the property. They have added a new roof (or roofs), installed a swimming pool and tot lot, and made other similar improvements.

You own a percentage interest in that association. Generally, (other than for cooperatives) your percentage interest will be found at the end of a legal document known as the "Declaration." The total of everyone's percentage interest in the association should be 100%. In a cooperative, your percentage interest should be reflected on your share certificate or proprietary lease.

Let us assume that the association spent $400,000 in improvements from the time you bought the property, and that your percentage interest is 2.3. If you multiple your percentage interest times the total improvements, you get a figure of $9,200.00, and this amount can -- and should -- be added to your basis as "improvements."

It is surprising to me that many community association owners are not aware of this tax benefit. In most community associations, the records should be available as to the total expenditure for improvements on a year to year basis. Please understand that maintenance and repair items are not added to basis, but capital improvements -- generally items which have a useful life of one year or more -- are indeed legitimate items to be added to basis.

Basis is a concept on which most of us pay little attention. However, as we get older, and become concerned with conserving the majority of our assets, the concept of adjusted basis becomes critical. Each dollar that can legitimately be added to the purchase price (the adjusted basis) generates a savings to the individual community association owner.

What should you do if you sold your property within the last few years and were not aware of this special tax break? Obtain a breakdown of capital improvements for the last three years from your association's property manager. You may be able to file an amended return, but you must discuss the logistics, the practicality and the legality of an amended return with your own tax advisers. You don't necessarily want to red-flag the IRS by filing that additional return.

Reprinted with the permission of the author

Author: Benny L. Kass, Realty Times

FOR STUDENTS YOU KNOW

With a contest entry deadline of October 11, 2013 at 11:59 pm, judging will begin for a contest designed to engage students of all ages (from kindergarten to high school) to learn more about Florida’s economic history.  The entry can be art, writing or video.  It is part of the YOUR MONEY MATTERS initiative.  This contest is in honor of Florida’s 500^th Anniversary.

Students can be enrolled in any public, private, charter, virtual, home or alternative school for the 2013-2014 school year.  By 12-31-2013, announcements will be made of a total of $2625 awarded to the winning students.  

Find more information at MyFloridaCFO.com/YMM.

This site also features in their games section fun and educational tools to help children save. (http://www.myfloridacfo.com/YMM/Games/Default.aspx) 

HOW TO CHALLENGE THE APPRAISED VALUE OF YOUR HOME

Proposed tax notices were just sent out to Palm Beach County residents.  The Clerk’s office will accept appeals for property tax appraisals through September 16. 

You can challenge market value, classification or an exemption by petitioning the county’s Value Adjustment Board (VAB). Board Members are two county commissioners, one school board member, and two citizen members.  They approve and hire special magistrates to settle disputes. 

The VAB is not affiliated with the Tax Collector or Property Appraiser.  Go to www.mypalmbeachclerk.com and use myVABsystem to file your petition online, schedule hearings and submit supporting materials, or call 561-355-6289 for more information.  Forms can also be submitted in person or by mail.  Filing fee is $15.  To submit in person, go to the Clerk’s Governmental Center or branch locations.  To submit by mail send to 301 North Olive Avenue, Room 203, West Palm Beach FL 33401.

HOW TO TEST A BATTERY

​

http://www.youtube.com/watch?v=Y_m6p99l6ME&desktop_uri=%2Fwatch%3Fv%3DY_m6p99l6ME

YOUR CAR KEYS MAY SAVE A LIFE

 YEP!!!

Put your car keys beside your bed at night.

Tell your spouse, your children, your neighbors, your parents, your Doctor's office, the check-out girl at the market, everyone you run across. Put your car keys beside your bed at night.

If you hear a noise outside your home or someone trying to get in your house, just press the panic button for your car. The alarm will be set off, and the horn will continue to sound until either you turn it off or the car battery dies.

This tip came from a neighborhood watch coordinator. Next time you come home for the night and you start to put your keys away, think of this: It's a security alarm system that you probably already have and requires no installation. Test it. It will go off from most everywhere inside your house and will keep honking until your battery runs down or until you reset it with the button on the key fob chain. It works if you park in your driveway or garage.

If your car alarm goes off when someone is trying to break into your house, odds are the burglar/rapist won't stick around. After a few seconds, all the neighbors will be looking out their windows to see who is out there and sure enough the criminal won't want that. And remember to carry your keys while walking to your car in a parking lot. The alarm can work the same way there. This is something that should really be shared with everyone. Maybe it could save a life or a sexual abuse crime.

This would also be useful for any emergency, such as a heart attack, where you can't reach a phone. My Mom has suggested to my Dad that he carry his car keys with him in case he falls outside and she doesn't hear him. He can activate the car alarm and then she'll know there's a problem.

This may save a life!

TAX REFORM ENGAGING CONGRESSIONAL LEADERS

Tax Reform is underway on Capitol Hill. The Senate tax-writers have adopted a "Blank Slate" approach that initially eliminates every provision in the tax code, including those that are cherished by homeowners and future homeowners.  The intent is to lower tax rates that in turn will stimulate the economy.
From a website created for the effort: 
"In order to make sure that we end up with a simpler, more efficient and fairer tax code, we believe it is important to start with a "blank slate" -- that is, a tax code without all of the special provisions in the form of exclusions, deductions and credits and other preferences that some refer to as "tax expenditures." This blank slate is not, of course, the end product, nor the end of the discussion....
We plan to operate from an assumption that all special provisions are out unless there is clear evidence that they: (1) help grow the economy, (2) make the tax code fairer, or (3) effectively promote other important policy objectives."

The Democratic and Republican leaders of the Senate Finance Committee recently began a legislative push to simplify the tax code by asking all Senators to make a case for including special tax breaks.Senator Max Baucus, on the left, and Senator Orrin Hatch want to start work on the tax code by clearing it of special breaks, unless those breaks meet specific goals. 

In the House, the committee that works on tax measures is called the Ways and Means Committee and it is headed up by Dave Camp, (R-Mich). This Committee has held many hearings on tax reform and has built "working groups" to arrive at a game plan for tax reform.

 

Normally Senators are tasked with the need to eliminate tax breaks but Senator Baucus and Senator Hatch thought that it is easier for Senators to come up with their list of deductions and breaks they want SAVED.

Every  $2 trillion in individual tax breaks added back to their "blank slate" would raise tax rates 1.3 to 2.2 percentage points. In other words, Senators must decide between popular tax breaks and low income tax rates.

FINANCIAL PROTECTIONS FOR SERVICEMEMBERS

To protect our military forces with mortgage relief, termination of leases, protection from eviction, a 6% cap on interest rates and the right to reopen any default judgments made during their active duty, in 2003, President Bush signed into law the Servicemembers Civil Relief Act.  This law applied only to obligations that originated before their military service and were still in effect.  “Servicemembers” includes all those on active duty in the military and includes National Guard members called up for active duty for more than 30 days.

All lenders should be immediately notified when you go on active duty, and they must receive a copy of your military orders.  When put on notice, all interest payments must be reduced to 6% and lender must forgive all pre-service debts exceeding the 6% cap.  Your monthly payment must be reduced.  This also applies only to debts that were initiated before active service began.

Leases entered into before active service began can be terminated before expiring, giving landlord 30 days advance notice of termination and rent must be paid up to termination date.  A private life insurance policy cannot lapse, terminate or be forfeited for nonpayment of premiums while insured is on active duty and for one year after duty ends.

 

Garnishments and attachments, requested by military personnel or a court, may be stayed or vacated during active service.  The court can appoint an attorney to represent the interests of a servicemember.

The Supreme Court ruled that the law must be read with “an eye friendly to those who dropped their affairs to answer their country’s call.”