FAU'S NEW PHYSICIAN RESIDENCY PROGRAM BRINGS GOOD NEWS FOR OUR LOCAL MEDICAL CENTERS AND FUTURE PATIENTS

With New York having 82 medical residents and Massachusetts having 84 per 100,000/population, Florida is hard at work to catch up, to fill the gap of shortages of residents with our FAU (Florida Atlantic University) playing a big part.  Florida had about 19 physicians in training per 100,000/population and placed 42nd in the United States. About 25% of Florida’s physicians are over age 65.

Three local community hospitals will be benefiting from the new Florida Atlantic University (FAU) physician residency program.  Recently there were 36 medical school graduates, who will be employed at Boca Regional Medical Center, Delray Medical Center and Bethesda West (near Boyton Beach), and these medical centers are becoming academic teaching hospitals.  About half of these grads will be at Boca Raton Regional. The new physicians will be using the FAU Medical Simulation Centers and Boca Raton and West Palm Beach to learn about high risk procedures, and connected to FAU’s Boca Raton campus through conferencing and virtual classrooms. 

While serving hospital patients, two new FAU outpatient clinics are coming to Boca Raton Regional and Bethesda West where these residents will provide primary care and conduct wellness programs in the communities.  Thirty-nine percent have roots in Florida.  They begin working on July 1. FAU’s College of Medicine’s program began in 2011 with 64 students, who will be eligible to be residents after next year’s graduation.  FAU’s goal is within three years to grow to 96 physicians in their new internal medicine residency and to 400 within five years, serving at the three hospitals above and adding St. Mary’s Medical Center in West Palm Beach and the West Boca Medical Center.  The college medical association says that 47% of doctors set up practices where they complete their residency, making friends in the area, establishing roots, working with colleagues, buying a property and finding a partner.  Half the current graduates will be working at Boca Raton Regional.

Dr. David Bjorkman, Dean of the FAU College of Medicine says that FAU is awaiting approval from its accrediting body on a surgical residency and developing programs in emergency medicine, psychiatry, pediatrics and considering other programs.  Dr. Charles Posternack, Chief Medical Officer at Boca Raton Regional, said that “the physician trainees will being patient care to a new level…academic medical centers perform research that benefits patients locally and around the world, and become a magnet to physicians”. 

Boca Raton Regional has been aiming to transition into a teaching hospital for the past seven years and their working together with FAU has brought new and wonderful benefits to our area.

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

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