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How HSAs allow you to take control of health care costs and planning
Health savings accounts (HSAs) are a savings vehicle increasingly being used to offset health care costs and improve awareness when utilizing health care simply because there is additional skin in the game. Further, HSAs provide potential savings and accumulation of assets that work well with long-term financial planning.
"HSAs encourage us to be better consumers, plan ahead and consider the ramifications of health care, as it applies to your long-term financial plan," says Michael Bartolini, President and CEO of First Commonwealth Insurance Agency.
"It might be a very good opportunity to save more tax-deferred and tax-free money, depending on your situation," says Nancy Kunz, Lead Financial Planner at First Commonwealth Financial Advisors.
Smart Business spoke with Bartolini and Kunz about how health savings accounts operate and where they fit in with your financial planning.
How does an HSA work in conjunction with your health insurance?
Many people are going to a high-deductible health care plan that has premium savings as a result of the larger upfront deductible. The idea is to shift those premium savings to an HSA, which can be used to pay for unreimbursed medical expenses on a pre-tax basis. The list of applicable expenses is long and includes dental, vision, long-term care insurance premiums, home improvements for medically necessary conditions, etc.
An HSA does not have to be provided by an employer; it can be set up on an individual basis. You also are able to accumulate funds year after year, with the idea of using those dollars against future medical expenses.
The current annual contribution limits, which tend to increase, are $6,450 for a family or $3,250 for an individual. If you are over the age of 50, you are able to contribute an additional $1,000.
How does this differ from a flexible spending account?
Typically provided by employers, a flexible spending account (FSA) works on a pre-tax basis for many of the same unreimbursed medical expenses, but the money does not roll over to the following year. If the monies that are in the FSA are not spent by the end of the calendar year, they are lost. Unlike an HSA, all monies you plan to contribute to the FSA throughout the year are available as soon as you sign up, whereas only the actual contributions are available in an HSA.
How does an HSA help you better manage health care expenses?
When something hits your pocket or you have a new cost, it causes you to be more responsible and a better consumer. If you have to pay $2,000 first with the high-deductible health plan, you're going to be more mindful of where you go for health care expenses, including which hospital or provider you choose for a procedure.
The economics of health care don't follow traditional economics where you choose wisely based on price points and/or quality. What one provider may charge for an MRI versus what another provider charges could be very different, but you're not likely to care if it's a $10 or $15 copay. We don't have the mindset that even if insurance companies are paying, so are we — one way or another.
HSAs and high-deductible health plans with their greater level of upfront deductible pushes consumers to exert more energy to pick up the phone and find out what a procedure costs. In addition, many health insurance carrier websites are starting to populate this kind of transparent data to show provider price points.
How does an HSA fit into your overall financial plan?
An HSA can act as another retirement vehicle, especially if you start young enough to accumulate funds without having to — or choosing not to — use those dollars against medical expenses. Once you've reached age 65, HSA funds can be used without penalty for any purpose. An HSA also will follow you wherever you go; it's not tied to an employer.
Many people have reached their maximum on 401(k) or IRA contributions, so depending on your age and health needs, this may be an option to look at seriously for tax benefits and long-range financial planning.
Michael Bartolini is president and CEO at First Commonwealth Insurance Agency. Reach him at (724) 349-6028 or email@example.com.
Nancy Kunz, CFP®, ChFC®, CLU®, is lead financial planner at First Commonwealth Financial Advisors. Reach her at (412) 562-3232 or firstname.lastname@example.com.
Insights Wealth Management is brought to you by First Commonwealth Bank
How to not let the tax tail wag the dog with the Taxpayer Relief Act
When Congress passed the American Taxpayer Relief Act, it came with just enough time to give a clearer picture of expectations for the year ahead.
"There was a lot of anxiety and uncertainty in the last quarter of the past year as the deadline got closer and people had no idea what to do about their tax planning," says Rick Applegate, president and CEO of First Commonwealth Financial Advisors.
Smart Business spoke with Applegate about the changes and how they impact your tax and financial planning.
What are some of the tax law changes?
The act avoided higher ordinary income tax rates for most Americans, but higher-income earners — $400,000 per year for single filers or $450,000 per year if married and filing jointly — will have their tax rate revert back to 39.6 percent, the highest ordinary income tax rate in this country before the tax reductions instituted by President George W. Bush. This impacts approximately 1 to 1.5 percent of Americans.
The biggest overall impact is the 2 percent increase in the payroll tax back to 6.2 percent, which might slow the economy's growth rate in the first six months of 2013. In the year ahead, the Social Security tax tops out at incomes of $113,700 — therefore, an individual could pay up to an additional $2,274 and a working couple even more. It's estimated that the 2 percent increased payroll tax will generate about $125 billion for the Social Security system, but that's money that reduces discretionary consumer spending, which has otherwise helped to drive a U.S. economic recovery.
Another notable change is the 5 percent increase in capital gains and dividend rates for higher-income earners to 20 percent. This increase was not as bad as it could have been — capital gains rates on dividends were scheduled to go to ordinary income tax rates, which could have been as high as that top income tax bracket of 39.6 percent.
Investment income also gets the new Medicare surtax of 3.8 percent tacked on for anyone making more than $200,000, or $250,000 if married and filing jointly. It's not a killer, but people at these income levels who rely on investment income will pay.
Some other changes are:
- Estate tax exemptions and rates. Congress extended the $5 million exemption and adjusted it for future inflation, and upped the top estate tax rate to 40 percent.
- Permanently indexing the Alternative Minimum Tax to inflation. This fixed the problem where more and more middle-class Americans were paying a tax originally meant to catch high-income earners who used deductions and loopholes to avoid paying any taxes.
- Reinstituting phase-outs of certain deductions for those with higher incomes.
If anyone was a winner in the tax bill, at large, it was people with educational loans and families trying to pay for college. The act extended certain credits and deductions for qualified taxpayers.
How do investment advice and tax considerations go hand-in-hand?
You don't want your investments to be ruled by tax decisions — you want investments to be made based on the projected economics of the deal and its potential returns.
That's why it's an adviser's job to get people past their fears and emotions, and focus on making money. If investors can't get past it themselves, they should sit down with a trained adviser who has a perspective on why there are always opportunities out there.
What are some strategies that can add value in the year ahead?
The average investor shouldn't be too intimidated by these adjustments because, by and large, they mostly impact those in very high-income brackets. High-income earners may benefit from tax-exempt income from municipal bonds, tax deferrals like low-cost annuities, and/or decreasing their ordinary income by deferring more taxable income today into a retirement plan.
Until Congress permanently deals with the debt ceiling, headline volatility will likely be a fact of life. However, we still think that 2013 will be a fairly good year for the stock market. We would advise taking advantage of market declines that are likely to occur and to buy into opportunities such as the emerging markets. Investors shouldn't let headlines make decisions; smart investors take advantage of market dips because, long-term, the stock market offers good value.
Rick Applegate is the President and CEO of First Commonwealth Financial Advisors. Reach him at (724) 933-4529 or email@example.com.
To connect with First Commonwealth Bank, visit our Facebook page.
Insights Wealth Management is brought to you by First Commonwealth Bank
How to choose a wealth advisory services firm to meet your needs
When choosing a wealth advisory firm to partner with, there are a number of characteristics you should look for to ensure the firm is well equipped to address your unique needs, says Norman M. Boone, founder and president of Mosaic Financial Partners Inc.
"With so many firms out there, it can be difficult to identify the right one for you," Boone says. "You should expect a lot from your wealth advisory firm, and knowing what to look for can help you make the right choice."
Smart Business spoke with Boone about the keys to choosing a wealth advisory firm.
What are some key characteristics when seeking a wealth advisory firm?
Professional success is based on a firm caring about its clients, being sensitive to their needs and concerns, providing a high level of expertise and doing what it says it's going to do. A wealth advisory firm should empower clients by providing them with financial education to help them feel more comfortable and allow them to make better-informed financial decisions.
You want a firm that is willing to commit to being a fiduciary — always putting the needs of its clients first. Independent firms are beholden only to their clients and have no other loyalties. How the firm is compensated is important. Fee-only firms are paid only for their advice and service. They avoid the potential conflicts of interest of receiving commissions, referral fees and the like.
Look for a firm that you trust and respect, and that trusts and respects you and your needs. The firm should aggressively honor the confidentiality of its clients. You should have a relationship with a team of people at the firm, not just one person, so you can benefit more from their collective expertise. Look for a firm that is large enough to bring the necessary resources to bear, yet is still small enough to remember that its members work for you.
Your wealth advisory firm should stay in the forefront of technology development to be equipped to meet your needs. It also should be committed to its employees, providing a good work environment and building the professional capabilities of staff with ongoing education and training.
How important is transparency?
Transparency creates the basis for trust. The firm and its members should be willing to answer any and all of your questions. In addition, objective, unbiased and personalized advice should be the foundation of every client relationship.
The firm also should offer a fully customized investment policy statement for every client providing a unique 'road map' for how that client's money is to be managed. An investment process works best when it is disciplined, thoughtful, strategic, tax- and cost-sensitive, and well diversified. The investment world is constantly changing, and it's important for a firm to stay ahead of the curve, choosing an independent course that reflects the best research and thinking of its members.
How should a firm tackle financial planning?
Financial advice shouldn't just be about investments. Financial planning should be the underpinning of how the firm serves its clients. Financial planning is a lifelong process — as your circumstances change, plans should be updated. Good advice must be given within the context of your total circumstances and specific needs. When other expertise is required, it is the firm's responsibility to recommend other professionals who are able to meet those needs.
Should a wealth advisory firm's actions go beyond financial planning?
Your advisory firm should respect the importance and distinctiveness of the many pieces of your life, while embracing how those pieces fit together. The firm should answer your calls promptly and always be thinking about how they can serve you better.
Your financial adviser can and should be your partner — always sensitive to your particular needs and concerns while giving you the best advice for your circumstances in the framework of the current laws and world context. If you don't trust them and look forward to receiving their advice, you may want to look for a different adviser.
Norman M. Boone is founder and president of Mosaic Financial Partners Inc. Reach him at (415) 788-1952 or email@example.com.
Social media: Stay up to date on financial news by visiting Mosaic Financial Partners Inc.'s Facebook page.
How potential tax increases could affect your year-end planning
The election is over and there are still many unanswered questions regarding tax law, making it difficult to do tax planning for 2012 and beyond.
"You need to partner with a tax adviser," says Rich Lundy, CPA, Director, Tax and Business Advisory Services with GBQ Partners LLC. "It's difficult for the general population to stay up to date because a lot is still up in the air. It is not yet known when any potential changes will take effect and what the outcome will be, both in the short term and long term."
Lundy says working with an adviser on year-end planning can result in potential permanent savings due to possible changes in tax rates.
Smart Business spoke with Lundy about the major tax issues impacting year-end planning for businesses and individuals.
How is the fiscal cliff affecting year-end tax planning?
Late in 2011, Congress couldn't agree on spending cuts, so it put in automatic mechanisms to reduce expenditures. In addition, if nothing is done by the end of the year, tax rates will increase for almost everyone. There are major economic concerns over the impact of reduced government spending and increased tax rates going into effect at the same time. If Congress doesn't act by the end of the year, the top tax rate would revert to 39.6 percent, up from the current 35 percent, and there would be increases in the lower brackets, as well.
President Barack Obama has proposed keeping the rates the same for the lower brackets — less than $200,000 of taxable income for individuals, or $250,000 for those married filing jointly. Tax rates currently range from 10 to 28 percent below those income levels. In a potentially higher tax rate environment, in general, individuals could benefit from maximizing income before tax rates increase.
Businesses, specifically C corporations, are currently subject to a maximum tax rate of 35 percent, one of the highest corporate tax rates in the world. The president has proposed reducing that rate to 28 percent, along with potentially curbing some business deductions. The strategy for a C corporation would be to try to defer deductions and/or income to some time in the future when rates may be lower.
What impact will the Medicare tax increase have on year-end planning?
There are two types of tax increases enacted by the health care reform in 2010 that take effect on Jan. 1, 2013. The first is on earned income: If you exceed the earned income limit of $200,000 for individuals or $250,000 for those married and filing jointly, there will be an additional 0.9 percent tax, increasing the Medicare tax rate from 1.45 to 2.35 percent. Those who will fall into this category in 2013 may want to consider taking an early bonus in 2012, or maximizing income before the end of the year if self employed.
The other tax is on unearned income, including interest, dividends, rental income, royalties, passive income and capital gains. This will be an additional 3.8 percent tax if you have income in these areas and exceed modified Adjusted Gross Income of $200,000 if single or $250,000 if married and filing jointly. Those whose modified AGI exceed these limits should consider accelerating these types of income into 2012, rather than deferring to 2013, to the extent possible.
What other areas of concern exist?
One is the capital gains tax. Currently, the long-term capital gains tax rate is 15 percent. In 2013, with no further action, rates could increase to as high as 25 percent. Many people are choosing to take their long-term gains now by selling stocks and bonds to generate long-term capital gains, and some who were already considering selling their businesses have moved the timeline up to this year. This is one of the most significant changes and an area where you can take action in your year-end planning to avoid those higher rates next year.
Another area of concern is qualified dividends, which are now taxed at 15 percent for higher- and middle-income taxpayers. If Congress does nothing, the phrase 'qualified,' which generally means that you've held the stock for 120 days, disappears from the tax code. The higher bracket could increase from 15 percent to 39.6 percent, the middle bracket from 15 to 28 or 33 percent and the lowest bracket from zero to 15 percent.
As noted earlier, the new Medicare tax on unearned income applies to interest, dividends and capital gains as well, so there would be an additional 3.8 percent tax for the upper-income individuals in this area. This could potentially triple the tax rate on qualified dividends. This is problematic because not only are dividends subject to double taxation, but many investors have invested in companies that are paying reasonable yields because they cannot get reasonable investment income from vehicles such as CDs and money market funds.
These expiring tax rates could wreak havoc on the stock market. There has been discussion about whether companies will unleash some of their cash before the end of the year in the form of dividends while the rate is still 15 percent. This could potentially impact stock valuations and large company behavior toward shareholders.
Finally, alternative minimum tax could hit an additional 33 million taxpayers if Congress does not implement a patch before the end of the year. The proposed two-year patch would restore exemptions to near 2011 levels, retroactive to the beginning of 2012. Because alternative minimum tax is not indexed for inflation, more and more people will be subject to it.
Rich Lundy, CPA, is Director, Tax and Business Advisory Services with GBQ Partners LLC. Reach him at (614) 947-5264 or firstname.lastname@example.com.
Insights Accounting & Consulting is brought to you by GBQ Partners LLC
How do you determine if you should switch banks?
As a business partner, a lender should understand your business and its needs, says Mike Dalton, vice president of commercial lending at National Bank and Trust. But often business owners don't consider other banks until they have a problem.
"In a lot of cases it just gets to be old habits. 'This is what I've done since when I started my company. I see no reason to change.' But quite often there is a reason to at least look at another bank," Dalton says.
Smart Business spoke with Dalton about how to evaluate your banking relationship to determine if you should switch banks.
What should you consider when choosing a bank, and how often should you re-evaluate where you bank?
There are three categories you need to look at:
- The relationship you have with your contact person.
- Do the products and services the bank offers fit your company's needs?
- The stability of the bank, both from a financial standpoint and its direction.
At least every few years you should look at some options. If you have specific concerns with your bank, then that's always a reason to re-evaluate.
What questions should you ask when reviewing a bank?
The important thing is to go back to those three things previously mentioned. You want to look at the relationship you have with the individual you're going to be dealing with because your lender is truly your business partner. You need to have a good communication stream. Look at his or her background and experience. Does he or she have experience in your industry?
How do you determine what you need from a bank?
That falls back to the relationship; a good lender is going to ask you about your business. If you have a lender that's just an order taker, that wants to ask you if you want fries with that Big Mac, then you're probably with the wrong person. You need somebody that's going to ask you about what products and services you use, what kind of pain do you have in your business. If there are needs that aren't being met, a good lender can come up with solutions — a product or service that would make something easier for you and your company.
For example, a prospect comes in, wants a loan and provides financials. He or she may be overextended or can't get what he or she is looking for, so the prospect and the banker need to have a conversation. The banker should tell the prospect, 'We can't meet that request right now but here's a path to get there.' Commercial lenders especially need to be an adviser for your company, by saying 'Here's another way of doing it.' Or, the lender could help with a plan to get your balance sheet or your income statement in the condition it needs to be in.
The first thing a commercial lender should do with a new customer is sit down with the business owner. Financials aren't always discussed in the first conversation. It's more about developing the rapport and getting to know each other. For the banker, it's about learning the business that you're in and what you're looking for in a bank.
What should you look at when evaluating a bank?
A majority of banks are publicly traded companies. Look at their annual reports, the balance sheets, etc. If they're not a public company, go into the bank and ask to see their reports. The best way is to consult your CPA or attorney and ask for a referral. Your CPA is always a good referral source in that aspect and a good first step.
How do you know a bank will stick by you in tough times?
That's an impossible question to answer, unless you know someone who has been a client at that bank and gone through a hard time of their own. No banker is going to tell you that if it's tough times they're going to ask you to leave the bank, but there are certainly some banks with that history. Ask your individual lender if they have other clients that are experiencing difficult times; how did they interact with them and what was the result of that transaction? Any commercial bank will have had a couple of different clients that have been through some very tough times in this down economy; so, did they work with them or find a way to get rid of them?
How important is it to have loan decisions made locally?
It makes a big difference, as opposed to an underwriter halfway across the country strictly looking at the numbers. When you deal with a local bank, local people who know your market and conditions make decisions. If there are questions they can come out to your facility and sit down with you, rather than you having to go to them.
Should you start a banking relationship before you have a pressing need?
When someone comes to a bank with pressing needs for equipment or an expansion, it could be a red flag. It may seem as if the company wasn't planning ahead for this need. Or, maybe the bank it was with didn't want to finance the project. If you think you might have a need coming up that your bank can't meet, start looking. Think about how often you talk to your banker. If you're not having regular conversations and they're not meaningful conversations, then you probably have an issue. As banks, we like to do business with people that we know, so developing a relationship is important.
Mike Dalton is vice president of commercial lending at National Bank and Trust. Reach him at (937) 382-1441 or firstname.lastname@example.com.
Insights Banking & Finance is brought to you by National Bank and Trust
The power of character
In last month's article I discussed getting rejuvenated as you revisit your journey of personal wealth management and life planning. So let's assume that you have your data updated and you have a rough draft of your goals, passions and purpose in life. As you review with your significant other and family members what you compiled, ask yourself a question: How important is it to achieve these goals? And how do you make this goal setting/goal achieving experience enjoyable?
Will this be another task you have to add to your "to-do" list? Is it going to interfere with anything else that is going on in your life, and do you have time right now to do this? Do you have a profound passion to get this journey started? Let's look and listen for the language that you use to describe your interest in personal and/or business financial planning. Is it another process? Is it another task to do? Or is it a journey? Many years ago I heard Paul J. Meyer, motivational speaker and author, define success. "Success is the progressive realization toward a worthwhile pre-determined goal." Mr. Meyer was extremely direct in his precise use of key words to define such an esoteric term as success.
Personal and business financial planning is a journey as well as a destination. The journey may never end because as you progress through the many phases of the strategic process, new destinations may be identified and clarified. So, in this beginning stage of your decision to do a financial plan (integrating it with your business plan), what thoughts and words will you use to describe your involvement with your wealth manager and life planner? How important is the outcome to you, and will you take joint responsibility with your life planner to create the highest probability for success?
If you compare financial planning to a diet for example, you realize that weight-loss is a lifestyle change, not a quick fix. Financial planning is identical. To get to a new life plan, you cannot keep doing the same things that have not worked in the past, and just buying products doesn't fix it long term. You cannot keep doing the same thing over and over again and expect different results.
Wealth management and life planning at RAV is much more than just dollars and cents. Typically, people expect dollars and cents to dominate conversations they have with a wealth adviser, but when it comes to life planning topics of discussion extend to matters far more personal than money, addressing your deepest life dreams and goals — and how to make them a reality through sound financial planning. When developing a life plan with your RAV adviser, there are a few key factors that must come into alignment — mutual trust, understanding, and a wealth adviser who has the courage and honesty to tell you whether your current reality can support your future dreams. If it can't, our wealth manager has the risk management know-how to assess what, if any, adjustments can be made to your current lifestyle and wealth strategy to help you achieve the life plan you've outlined. But you as a client also bear a large responsibility in the life planning process — particularly if you long for a future that looks very different from your current reality. Like all strategies, the more time you have to take risks and plan, the better your odds are of achieving long-term success.
Start out with a clean slate in your mind as to the experience you are undertaking. Refrain from beating yourself up that you have waited so long to get started. Embrace the co-responsibility that you and your wealth manager will commit to, being mindful that it is your financial plan. You are in charge of its destiny. Know that there are distractions and other ingrained attitudes and beliefs that may attempt to undermine your tenacity in staying on the journey. Keep two words always in mind — character and persistence.
I remember in the 1970s listening to a personal development record. Not a CD or cassette tape, but a 78 rpm vinyl record. The motivational instructor, whose name I have forgotten, defined the word character. "Character is the ability to carry out a decision long after the enthusiasm in which it was made has left you."
Ray Kroc, the late founder of McDonalds, put it best when he said (and I paraphrase): "Nothing in this world can take the place of persistence …… persistence, determination and love are omnipotent." All successful people persist at accomplishing their objectives. The greater the passion for the outcome, the easier it is to persist. So keep in mind a visual of what that end result will be. In dieting, you may hang up a picture of yourself on the refrigerator of the new you. Compare this experience to putting together a jigsaw puzzle. Rather than focus on how many pieces, colors, corners or edges are in the box, concentrate on the picture on the box top. That picture is the joyful outcome as the pieces come together. Your financial and business plan will also be the outcome of your journey with your wealth manager and life planner as you both use art and science to assemble all of its components.
Robert A. Valente, CFP®, AEP®, is CEO and Managing Member of RAV Financial Services LLC. He can be reached at email@example.com.
Insights Wealth Management is brought to you by RAV Financial Services LLC
How a dividend stock strategy fits into the current market and for the long haul
Dividends have accounted for 40 percent of total returns in the market since 1940. Some investors are concerned about recent stock price increases, but there still is room to invest in dividend-paying stocks, especially for the long term, says Sonia Mintun, vice president and portfolio manager at Ancora Advisors LLC.
"For the long term and at current valuations, particularly given historically low payout ratios, dividend-paying stocks can see strong relative and absolute performance. The outlook is enhanced by near all-time low U.S. Treasury yields and the Federal Reserve's extended dovish position on interest rates," she says.
Although the upcoming election and global economic environment are areas for concern, Mintun says an emphasis on high-quality dividend-paying stocks at low valuations should cushion investors from volatility and provide real returns over the long term.
Smart Business spoke with Mintun about the current stock market and how dividend-paying stocks remain a smart investment.
With the recent run-up in equities, is the dividend-paying strategy overvalued or a crowded trade?
Over the last year or more, the dividend theme has been the popular trade and the market has run up. There are a number of ways to evaluate if the market — and therefore dividend-paying stocks — is overvalued. You can examine whether it is trading at lower-than-average yields, or higher-than-average valuation ratios such as price-to-earnings (P/E), price-to-book (P/B) or price-to-cash flow.
The current market's value is dependent on an investor's time frame and risk tolerance. Is it overvalued for the next several months? It is possible we could see some pullback, but looking over the long term, it is our view that dividend stocks are not overvalued. The trailing P/E ratio of the S&P 500 index is around 14, which is lower than its historical norm and nowhere near where it was during the tech bubble when P/E ratios were closer to 50. While you can argue that the economic growth outlook is sluggish, companies have become operationally leaner, which has helped boost profit margins. They have better positioned their balance sheets by refinancing debt at extraordinarily low interest rates and have historically high cash levels. Lastly, with regard to dividend payers in particular, yields are at close to seven-year highs, while payout ratios are low, suggesting current yields are well supported by earnings. So overall, our opinion is that dividend-paying stocks remain attractive for long-term investors, especially in comparison to fixed-income yields.
What sectors have performed better and may be perceived as overvalued?
Defensive sectors such as consumer staples, health care and utilities have attracted a lot of capital and could be perceived as overvalued. Their P/E multiples compared to the overall market are trading at premiums to their five-year averages, but it is not a significant premium. Utilities, for example, are the most correlated sector, with 10-year treasury yields that have an 80 percent correlation since 1990. If you think that rates are going to stay low for some period, utilities may not be overvalued based upon the five-year averages.
What dividend-paying sectors have underperformed?
Economically sensitive stocks, such as energy, industrials and materials, have fared the worst, largely due to fears about slower growth in emerging markets and from concerns in Europe. However, many stocks in these sectors are trading at attractive discounts to their historical valuation ratios. They have ample cash on their books, generate consistent cash flows and could see improving profitability with higher commodity prices and demand if global stimulus takes hold.
What impact will the potential tax changes have on dividend-paying stocks?
A potential dividend tax increase has concerned some investors about owning dividend-yielding stocks. In 2001 and 2003, dividend tax cuts were put into place that reduced the dividend tax rate to 15 percent from 35 percent. These cuts are set to expire at the end of this year unless Congress extends them or passes new legislation. If no legislation is passed, taxes return to a top marginal rate of 39.6 percent. This tax increase may be a short-term negative for stocks and high-yielding stocks.
However, history has shown that tax increases do not have a long-term negative effect on dividend-paying stocks, as stocks typically recover after six months or so following an increase. This may be because an estimated 50 percent of equity held is owned by tax-exempt entities — such as qualified plans, foundations and foreign investors — all of which are somewhat indifferent on taxes. In addition, when tax increases are anticipated, it has typically not been problematic over the long term. For example, beginning in 2013, a new Medicare contribution tax of 3.5 percent will be imposed on investment income. This proposed tax increase has had minimal effect on the stock market so far.
What is the long-term outlook for dividend-paying stocks?
Longer-term dividend-paying stocks remain an attractive option for risk-averse, equity-oriented investors. Dividends provide a cushion during poor equity markets and are relatively stable over time. Consequently, by being less volatile and being more disciplined with capital because of the dividend policy, dividend-paying companies have outperformed non-dividend-paying companies for more than 80 years. Additionally, with dividend payout ratios near historical lows and weighty cash balances, companies may return more cash to shareholders in a low-growth environment. Given today's low interest rates and continued global economic turbulence, we see dividend paying stocks as attractive now and for the long term.
Sonia Mintun is a vice president as well as an Investment Advisor Representative of Ancora Advisors LLC (an SEC Registered Investment Advisor). In addition, she is also a Registered Representative of Ancora Securities, Inc. (Member FINRA/SIPC). Reach her at (216) 593-5066 or email@example.com.
Insights Wealth Management & Investments is brought to you by Ancora
How to find financing in the current business environment
In the current economic environment, many businesses are finding financing difficult to come by. But with the proper preparation, gaining funding for your business is not impossible, says David Shaffer, director, Audit & Accounting, Government Contracting Industry group leader at Kreischer Miller.
"Getting your business in order and presenting a strong case to your banker can improve your chances of getting financing," says Shaffer. "It's not as easy as it once was, but even in difficult economic times, banks and other organizations are still providing financing to businesses."
Smart Business spoke with Shaffer about how to position your business to succeed when seeking financing.
What does a business need to have ready prior to looking for financing?
Whether you are a new business or have 50 years of history, anyone looking to provide financing is going to want to see the plan of how the business is going to repay the loan. Most lenders do not want to have to liquidate the collateral to collect the loan; they want to set up reasonable terms and conditions so the business can repay the loan, over time, and the lender can make a reasonable profit.
In most cases, this means providing the lender with a monthly budget of the business's income, balance sheet and sometimes cash flow for 12 months, and an annual budget for at least two years from that point. The lender will use these statements to create financial covenants, so management must be comfortable that they can meet, or preferably exceed, the budgets.
Lenders are also going to review management's history and the business's history of repaying debt. If there have been any issues with historical debt, this should be discussed with the lender up front, prior to the bank discovering it on its own.
If you are an existing business, three years of historical financial information should also be provided. Audited financials are best, but in most cases, reviewed financials will be sufficient. If the company does not have audited or reviewed financial statements, compiled or internal financial statements should be provided, but if this is the case, be prepared for more due diligence from the lender. If there have been historical losses or other items that might give a lender concern, discuss the issues with the proposed lender prior to sending.
If this is the first time through the process, owners should consider having their CFO/controller involved, or involve their CPA or legal counsel who is familiar with typical terms and conditions of business loans. But even if you have done this before, no matter how experienced you are, make sure that you have an experienced attorney who has knowledge of these loans review all documents prior to signing.
How long does the process typically take from start to finish?
Most banks need 45 to 60 days from the initial meeting to the time of funding a loan. If the loan is more complex, it may take longer.
What collateral will a lender typically request?
Most banks will request that all business assets collateralize their loan (assuming they are the only lender) and, in most cases, will require the business owners to personally guarantee the loan. If the loan is very risky, they might also request liens on specific owner assets such as stock portfolios, personal home, and/or cash surrender value of life insurance.
What interest rate can businesses expect in the current environment?
Banks and other lenders determine their interest rates based upon the perceived risk of the loan. Most business loans that are not high risk have variable interest rates ranging from prime minus .5 percent to prime plus 1 percent. Fixed rate loans will vary depending on the length of the loan and the collateral.
Other than banks and personal savings/assets, where else can a business seek funding?
President Obama recently signed the Jumpstart Our Business Startups Act, and one aspect of that, called crowdfunding, provides up to $1 million of loans for businesses. Transactions must be administered by a broker or a funding portal that is registered and complies with the Securities and Exchange Commission requirements.
The Small Business Administration and other government-guaranteed loans also provide funding alternatives to businesses. The SBA can provide loans up to $5.5 million. Such loans require a lot of documentation from a business, but their rates are very competitive. In most cases, a bank will still need to be involved to underwrite the loan, and many banks have specific lenders specializing is SBA loans.
Some companies also consider joint ventures. However, this is quite risky because it requires a strong leader to bring together a group of businesses so that each member of the group understands the risks and responsibilities involved. It also requires the involvement of an experienced attorney who can write a joint venture agreement that everyone understands and is willing to sign. Joint ventures are often used to complete a specific project for a customer when one company does not have all the skill sets to complete the contract on its own, so will go out and find a 'partner' with those necessary skill sets to propose on the project.
Venture capitalist/private equity is also viable, especially if the business is promising and can grow quickly with the proper funding. Typically, these companies will get an ownership in the business. Some firms have been willing to lend money to a company, but it is typically at a much higher interest rate than a bank may charge. The advantage of venture capital/private equity, however, is that the business now has the network of contacts of the venture capitalist or private equity provider at its disposal.
David Shaffer is director, Audit & Accounting, Government Contracting Industry Group leader, at Kreischer Miller. Reach him at (215) 441-4600 or firstname.lastname@example.com.
Insights Accounting & Consulting is brought to you by Kreischer Miller
How women in business can plan for their financial futures now
The most damaging thing women business owners can do regarding financial planning is nothing.
"It's often the last thing that people want to talk about because they are so busy living their lives and running their businesses," says Nancy Kunz, CFP®, ChFC®, CLU®, Lead Financial Planner at First Commonwealth Financial Advisors, Inc. "Then, by the time they figure it out, they are 65 and staring at retirement. A woman's instinct often is to help everyone else first, to take care of everyone else, and that is compounded when a woman is also running a business," says Natalia Paich, CPA, AIFA®, Wealth Relationship Manager at First Commonwealth Financial Advisors, Inc. "But sometimes she needs to put herself first and plan for the future of herself and her business."
Smart Business spoke with Kunz and Paich about business and financial planning for women business owners.
How do women need to plan differently than men?
There is a high probability of a woman being alone late in life, as men tend to have a shorter life expectancy. It is important to take control of finances now, as doing so will lay the groundwork for making the choices for the future. While the thought of taking ownership of one's finances may seem daunting, doing so both personally and professionally is imperative.
A common mistake made by women business owners is trying to do it all themselves. Instead, get help from the beginning and find the appropriate professional. Most people don't truly understand their financial decisions and therefore make uninformed choices or no choices at all. When working with a trusted professional, women should ensure that they are active participants throughout the partnership, from hiring a professional to understanding the decisions and implications of those decisions.
What are some of the biggest financial mistakes female owners make with their business?
We mentioned that the biggest mistake women can make in regard to their finances is doing nothing. The same can be said for women business owners using slightly different words, 'failure to plan.' Very few businesses take the time to plan income, expenses, management of receivables and cash flows, money for capital expenditures, etc. Women should take the time to create a financial plan for their business. A big part of creating the financial plan is finding the right professional expertise for legal, tax, financial planning, etc. A business owner's time should be spent doing what she does best — not on the behind-the-scenes mechanics.
Part of creating the right team of professionals includes where to look for them. Women should look for professionals who are familiar with and have experience with small businesses. Spending the money upfront to pay professionals can save a lot of headaches further down the road.
What do women business owners need to know about saving for retirement, and how can they balance that with other needs?
Women business owners have many options to save for retirement. The best option often depends on whether the business owner has employees, and if so, how many. Some retirement options include SEP IRAs, self-employed 401(k), self-employed Roth 401(k), SIMPLE IRAs and Keogh plans. Each type of plan has different contribution limits, may allow for tax-deductible contributions and withdrawal provisions, and may require taxation of monies at distribution.
It is important to consult with a financial adviser and/or accountant to determine which plan is best suited for the business and business owner. In regard to retirement savings, women business owners should avoid using their own retirement money to fund their business. The long-term effect on retirement savings can be significant. Monies designated for retirement should remain in retirement. Monies designated for business development and growth should be used for the business. A woman doesn't want to find herself at retirement with only illiquid assets.
What should women know about financial planning when one spouse takes times off from work?
Keep retirement funding going, if possible. If one spouse takes time off to raise the family, increase savings into the spouse's company-sponsored retirement plan and/or consider establishing a spousal IRA. This may not always be an option, so it is important to confer with a trusted adviser. Expectations for the family's standard of living are paramount not only to planning but also to adjusting to one income, so those need to be realistic and continually reviewed.
If a woman business owner decides to leave her business, she should keep current with her profession so that when she is ready to re-enter the work force or start a new business, doing so will be easier.
When running a business, how can women incorporate their role as a primary caregiver to an elderly parent?
This can be financially and emotionally difficult, especially when paired with taking care of children and running a successful business. This is where long-term care insurance comes in, helping to ease the burden. Women should ensure their parents have long-term care insurance, even if they have to pay for it themselves. Oftentimes, care starts being required when a daughter is trying to raise her own family and her business is taking off.
When purchasing long-term care insurance, do the research to ensure a quality product. Certain companies are better with premiums and rate increases than others, and large annual rate increases can lead to unaffordable premiums. Financial stability of the insurance company is also important, as the need for the insurance may not arise for years.
The peace of mind acquired after confronting one's own financial planning situation and working with a trusted adviser to put a sound plan in place is priceless, allowing you to focus on other things.
Nancy Kunz, CFP®, ChFC®, CLU®, is Lead Financial Planner with First Commonwealth Financial Advisors, Inc. Reach her at (412) 562-3232 or email@example.com.
Natalia Paich, CPA, AIFA®, is Wealth Relationship Manager with First Commonwealth Financial Advisors, Inc. Reach her at (412) 562-3232 or firstname.lastname@example.com.
Insights Wealth Management is brought to you by First Commonwealth Bank
Getting refocused for financial success
The road to financial success is paved with good intentions. We all know intellectually and appreciate how Albert Einstein defined insanity as "doing the same thing over and over again and expecting different results." We create goals and objectives, but habits and attitudes get in the way.
Think back when you were a child and you were about to go to your first day of school. How did you feel? You may have been filled with angst and fear as to what would actually transpire. So there may be fear of the unknown that comes with new experiences. How we kept our room, did our school work, kept track of records and information all set the stage for our adult financial planning habits. Even your annual April income tax pilgrimage of collecting your financial data reminds you of those acquired habits of dealing with financial matters. This tax preparation scenario may exacerbate your sense of frustration and angst by adding the dimension of fear of missing the deadline.
So what is all of this preliminary conversation leading to? What does this have to do with September? It appears that our lives are in sync with the school calendar. Summer has been a time to vacation away from responsibility, so September is charged with a get-back-to-work mentality. Rather than dread this, embrace this time of year. Incorporate a new habit of fiscal responsibility into your life now without applying pressure to your daily routine. Understand that there are obstacles that are physically, behaviorally and inherently in the way, but you can choose a financial partner/coach to make the journey an integrated life-planning experience.
Meet with a bona fide wealth manager. Who is that and what is the process? Wealth management is an investment advisory discipline that incorporates financial planning, investment-portfolio management and a number of aggregated financial services. High-net-worth individuals, small business owners and families who desire the assistance of a credentialed financial advisory specialist call upon wealth managers to coordinate estate planning, legal resources, tax professionals and investment management. Ideally, you are looking for an all-inclusive and objective wealth management company.
Financial planner, broker, wealth advisor … they all sound the same. How do you choose?
Look for an individual or firm that agrees to work in a fiduciary capacity. A fiduciary agrees not to put his interests before the duty to serve you. The fiduciary duty is the ultimate standard of care, and a fiduciary agrees to eliminate potential conflicts of interest in the relationship. This standard is in opposition to the suitability standard used generally in the brokerage and financial services industry. Suitability obligation by members of the broker/dealer community dictates the representative has to reasonably believe that any recommendations made to you are suitable to you in regard to your financial situation. The representative's loyalty is to his or her firm, and that person is not obligated to disclose conflicts of interest.
Uncover how the professional is compensated.
When it comes to compensation, there are basically two groups: fee-only and all others. Innovative firms have introduced an annual flat fee retainer working agreement in response to the age-old ambiguity that has prevailed in the financial industry relative to how advisors are paid. These new pioneering wealth management companies have eliminated from their vocabulary all of the jargon about percentage of assets under management (AUM) charges and commissions charged on implementation. The retainer is achieved by determining the client's desired scope of services, complexity of personal and/or business situations, and other qualitative and quantitative data. Transparency and disclosure are at the root of their relationship with you.
Be prepared for that visit with your wealth manager. Begin to identify and accumulate two types of data — quantitative and qualitative. The quantitative data can be easier to retrieve, such as assets, liabilities, cash flow, employee benefit statements, estate documents, buy-sell agreements and the like. You may experience some angst if your personal filing system is not quite up to date.
The qualitative data resides in our intellect and our hearts. What is your personal purpose, passion and legacy goals? You as a client also bear a responsibility in the life planning process — particularly if you long for a future that looks very different from your current reality. Like all strategic goals, the more time you have to take risks and plan, the better your odds are of achieving long-term success.
The wealth management process is really a life-planning passage. Answers to these qualitative questions will help identify the drivers in your financial life-plan. Wealth management and life planning are much more than just dollars and cents. Typically, people expect dollars and cents to dominate conversations they have with a wealth advisor, but when it comes to life planning, topics of discussion extend to matters far more personal than money, addressing your deepest life dreams and goals — and how to make them a reality through sound financial planning.
The life-planning experience takes you to new dimensions of goal accomplishment. We have focused so much on goal-setting; the life-planning process focuses on goal accomplishment.
Robert A. Valente, CFP®, AEP®, is CEO and Managing Member of RAV Financial Services LLC. He can be reached at firstname.lastname@example.com.
Insights Wealth Management is brought to you by RAV Financial Services LLC.


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Hush Hostel Lounge
Great Value!
Hush Hostel Lounge is the ideal place for travelers seeking the true spirit of Istanbul. We are proud to be able to offer you fun, clean and affordable accommodations in a newly renovated historical and stylish building in the heart of Kadikoy, a vibrant (and safe) entertainment district full of indoor-outdoor bars, live music venues, shops, restaurants and cafes. Located on the Asian Side of the city, Hush is in close proximity to a transportation hub that services the whole city, including the ferry which takes you to the European Side.
The common area on the main floor consists of a guest kitchen and a cozy lounge area where guests can watch tv/dvds, play musical instruments or browse magazines. The hostel also boasts a spacious garden area for full relaxation and a terrace with a panoramic view of the city. With its high ceilings and new furnishings, your experience at the Hush Hostel Lounge will surely be unique.
Availability & RatesTo view availability and prices please select dates and click 'Update Dates'
Hostel Facilities & Policies
- 24 hour reception
- 24 hour security
- Air Conditioning
- Airport transfers
- Bicycle hire
- Bicycle parking
- Board Games
- Book exchange
- Breakfast Included
- Cable TV
- Ceiling fan
- Child Friendly
- Common Room
- Credit Cards Accepted
- Currency exchange
- DVDs
- Fax Service
- Free City Maps
- Free Internet Access
- Free Wifi
- Games Room
- Hair Dryers
- Hair Dryers For Hire
- Hot Showers
- House Keeping
- Internet Access
- Kitchen
- Laundry Facilities
- Linen Included
- Lockers
- Luggage Storage
- Non Smoking
- Outdoor Terrace
- Parking
- Taxes included
- Tea/Coffee Making Facilities
- Tours/Travel Desk
- Towels For Hire
- Towels Included
- Washing Machine
Cancellation PolicyThis property has a 1 day cancellation policy. Failure to cancel within this time will result in a cancellation charge equal to the first night of your stay.
Located Near
Kadik�y Pier
Haydarpasa Railway Station
Tepe Nautilus Shopping Mall
Fish market
Fenerbahce Stadium

subset: commoncrawl


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Palomar Mountain real estate listings include condos, townhomes, and single family homes for sale.
Commercial properties are also available.
If you see a property you're interested in, contact a Palomar Mountain real estate agent to arrange a tour today!
Learn more about Palomar Mountain Real Estate.
This adorable cabin qualifies for ZERO DOWN FINANCING! Ask agent for details. Voted "Best Northern California experience in Southern California" ~ San Diego Reader. Where can you buy a gorgeous mountain home, just over an hour from San Diego or the beach? Palomar Mountain! Where can you find blankets of seasonal snow, big trees, and crackling fires? Palomar Mountain! SEE SUPP
Bordering the 2000 acre State Park, this beautiful land property is a very private, hidden gem. Heritage apple orchard, meadows, framed with well cared forest. Charming log cabin looks like the cover of a magazine, newly remodeled and furnished by interior designer. Guest house is an adorable, converted caboose. Two garages park seven vehicles and presently have like-new tractor, gator, and quad. The winter rains will fill up the pond. There is a wide variety of delicious apples. Come for a tour!
Stunning Views abound from this Mountain Masterpiece! Elegant, custom, green built, lodge style home, created for large gatherings with views from every room. Surrounded by stately oaks, aromatic cedars,& bracken fern meadow,this 8.44 acre private estate is ideal as a full time home, 2nd home, corporate, or hunters retreat. The main home has 3 levels,5 luxurious bedroom suites,4.5 baths,attached 2 car garage + 2 guest cottages,tractor barn,generator,basement. Adjacent 9+ acre parcel available!
Variance grntd 140004813. APN's 136-140-0900; 136-140-1000 also for a total of 153.65+/- ACREs located on the eastern approach to Palomar Mtn from Santa Ysabel. A small,rustic cabin is hidden in the forest only a few min. behind a locked gate off of East Grade Rd thru the beautiful Will Valley. A strong spring with clean water is a huge plus. This area of Santa Ysabel-Palomar Mtn relies on solar power. The allure of this incredible ppty is the variety & undisturbed presence of plant & animal life.
Variance grntd 140010243. 153.65+/- ACREs located on the eastern approach to Palomar Mtn from Santa Ysabel. A smallrustic cabin is hidden in the forest only a few min. behind a locked gate off of East Grade Rd thru the beautiful Will Valley. A strong spring with clean water is a huge plus. This area of Santa Ysabel-Palomar Mountain relies on solar power. The allure of this incredible ppty is the variety & relatively undisturbed presence of plant and animal life on this site and in the surrounding area.
Rolling land is dotted with a vintage apple orchard, custom home, and an adorable underground studio. Paved driveway on 5.6 acres with room to build out your ranch or a gentleman's farm. Fabulous soil for a garden, your horses would love it too! Delightfully charming 3 bdrm home has a screened-in porch, & wrap-around deck to enjoy four seasons of fun. Expert craftsmanship, with attention to detail. Power, built-in generator, a garden shed, and a tractor garage. Delicious well water - come for a Tour!
CUSTOM MOUNTAIN TOP CHALET with expansive great room, soaring ceilings & a wall of windows to take in the views. Custom built Birch Hill home perched on 1.33 picturesque acres. Lovely forest & off mountain views. Stately cedars, fir, & oaks frame this much loved 3 bedroom, 3 bath 2700+ home. Entertain guests on the expansive deck with attached sunroom, wood burning stove & spa. SEE SUPPLEMENT FOR MORE INFORMATION....
Private, peaceful, gorgeous views from under a majestic oak canopy. Nap, read, hike, explore & picnic from beautifully remodeled "Palomar Retreat". Absolutely charming, immaculate, easy-care and turn-key, this 1,000-square-foot cabin sleeps 8 comfortably. Stainless steel appliances, granite countertops, central heat, restored original 1930s-era wood floors and wood-burning stove! The kids will love the "secret loft" & everyone will love the deck watching birds, deer & the beauty of our Four Seasons!
Lush fern meadow framed in mature forest looking off the mountain all the way to the Pacific and beyond. See sparkling lights come on across San Diego County. Underground power and phone to the property line, neighbors have excellent wells. Nice picnic area for you to enjoy while planning your dream weekend getaway or year-round home. 1 of 7 parcels, 9 to 40 acres that share the private, gated easement road. Two neighbors have built out high-end retreats. YOU could be the third! Much to enjoy!
Rural Mountain Hilltop Community. This house burned down in 2013 and was not rebuilt. Water and electric are there along with a shed that has underground facilities. View of Palomar Mountain Observatory. Great Lot to Rebuild estimated SF was 1248 had a view deck and covered porch.
Real Living LIFESTYLES
16236 San Dieguito Rd. #4-13
Rancho Santa Fe, CA 92067
Email Us | Visit our Real Estate Website


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Reef House Boutique Resort & Spa Palm Cove
2 day / 1 night conference package from $855 per person*
Your conference package includes:
- Return economy airfares to Cairns Airport
- Airport coach transfers to and from your hotel
- 1 night's accommodation in single occupancy rooms
- Daily buffet breakfast in the hotel restaurant
- Plenary room hire for 2 days
- Day delegate package for 2 days
- Event management
About the package
This package is based on a group of 40 delegates, however different delegate numbers can be accommodated subject to availability at time of booking. Please advise us of your group requirements and we will confirm availability with you. If you have any further event requirements, we will happily incorporate these into your final package and advise you of the cost. Alternatively, please contact us to hear more about our other event packages and our bespoke event service.
About Reef House Boutique Resort & Spa
The Reef House Boutique Resort and Spa, situated just 25 minutes north of Cairns, offers a boutique style of 'our house' service to welcome and enhance its comprehensive range of resort facilities and services. Set in beachfront surrounds on Palm Cove's William Esplanade, the resort boasts an award winning ocean view restaurant and a multi-awarding winning day spa, considered some of the best in the region. A bespoke property in a world class destination, The Reef House Boutique Resort and Spa offers a memorable experience for every event.
Please contact us at firstname.lastname@example.com or by calling 1300 13 59 58.
We look forward to sharing this unique business events experience with you.
* Prices advertised are including GST and are a from price, based on a mid-week meeting for 40 people ex Brisbane, and are per person. For travel 1 – 31 August, 2012.
Package price is correct as at 17/07/2012 and for the above travel periods. Prices will be quoted by Podium and may vary until a booking is confirmed. Air transport is provided by Virgin Australia. All other package services are provided by or arranged by Podium. Air transport and hotel surcharges may apply during peak periods. Prices are subject to availability and not guaranteed until the booking is completed, confirmed and a deposit payment is received. Packaged airfares are based on direct route, including taxes, levies and other government charges which may vary and are subject to change. Packaged hotel accommodation is based on lead-in single occupancy rooms, per room per night, unless otherwise noted and include meeting space and conference package within the same hotel. Additional accommodation and meeting space types are available and may incur additional charges. Charges for extra persons and/or children may apply and will be charged directly by the hotel to the guest, unless otherwise requested. Hotel accommodation is subject to the hotel terms and conditions. Virgin Australia conditions of carriage available at www.virginaustralia.com. Further conditions may apply and all offers are subject to contract. Package conditions apply and will be attached to package quotes provided by Podium.


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Sheraton PGA Vacation Resort
Port St. Lucie Vacation Rentals
Sheraton PGA Vacation Resort
8702 Champions Way
Port St. Lucie, FL 34986
For Reservations Call: (877) 867-6506
40 units: One & Two Bedroom Condos
Check-In Time: 4:00 p.m.
Check-Out Time: 10:00 a.m.
ResorTime Owner Rate Reservation Window: 180 Days
Vacation Condo Rental Rates subject to change
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Sheraton PGA Vacation Resort Summary
At the Sheraton PGA Vacation Resort- its all in the name. This deluxe resort is adjacent to the one-of-a-kind PGA Village and is a true golfers haven. Golfers enjoy easy access to three PGA owned golf courses; golf instruction at the PGA Center for Golf, Learning, and Instruction; and the PGA Museum of Golf. After a day of play, guests can relax in the resorts sparkling, climate controlled three-bay swimming pool. Families with children will enjoy the childrens pool area and playground; and the young-at-heart can play a game of poolside chess with life-sized game pieces. Accommodations include one and two-bedroom villas with fully-equipped kitchens, washer/dryers, flat screen TVs, and signature Sheraton beds. There is no restaurant on-site. However, Sam Sneads Oak Grill & Tavern is within walking distance of the resort. Additional local restaurants are an easy drive away. Guests who are looking for entertainment beyond the links have easy access to 30 nearby public beaches on Floridas Treasure Coast. Popular areas such as West Palm Beach, Miami, and Orlando are an easy day trip.
Sheraton PGA Vacation Resort Amenities
24 Hour Front Desk, Beach Nearby, Boating Nearby, Car rental on-site, Complimentary Parking, Concierge, Free Outdoor Parking, Jacuzzi, Late Check-in Available, Movie Rentals, Outdoor Pool, Swimming Pool, Tennis Courts, Wireless Internet
Sheraton PGA Vacation Resort Unit Amenities
One Bedroom One Bath Condo Sleeps 4
The one-bedroom villa offers a queen-sized Sheraton Sweet Sleeper Bed in the bedroom, and a sleeper sofa in the living room. Villa amenities include a fully-equipped kitchenette, flat-panel tv with dvd player, cd player, washer and dryer, and complimentary wireless internet access.
Air Conditioning, Alarm Clock, Balcony in Some Units, Cable TV, Dishwasher, Full Kitchen, Hair Dryer, Ironing Board with Iron, Microwave, One Bathroom, Oven, Queen Size Bed, Queen Size Sofa Sleeper, Stereo, Stove, Telephone, Toaster, VCR, Washer and Dryer, Whirlpool Tub
Two Bedroom Two Bath Condo sleeps 6
The two-bedroom villa offers a king-sized Sheraton Sweet Sleeper Bed in the bedroom, two full-sized beds in the second bedroom, and a sleeper sofa in the living room. Villa amenities include a fully-equipped kitchen, flat-panel tv with dvd player, cd player, washer and dryer, private balcony,and complimentary wireless internet access.
Air Conditioning, Alarm Clock, Balcony in Some Units, Cable TV, Coffee Maker, Dishwasher, Full Kitchen, Hair Dryer, Ironing Board with Iron, King Size Bed, Microwave, Oven, Queen Size Sofa Sleeper, Stereo, Stove, Telephone, Toaster, Two Bathrooms, VCR, Washer and Dryer, Whirlpool Tub
Directions to the Sheraton PGA Vacation Resort
From Orlando:
Take Florida's Tumpike south to exit 52 (Ft. Pierce/Okeechobee).
Turn right onto route 70 east.
Take I-95 south.
From Miami/Ft. Lauderdale:
Take I-95 North for approximately 107 miles to Exit 121. Take Exit 121 and the ramp that merges onto St. Lucie West Boulevard. Stay on St. Lucie West Boulevard to the clock tower roundabout and circle around to the third exit where you turn right onto Commerce Center Parkway. Turn right at Champions Way. The resort will be on your left. Total estimated distance: 121 miles; time: 2 hours.
Late Check In Procedure
For guest convenience, Sheraton PGA Vacation Resort has a 24 hour front desk available for check-in.
(877) 867-6506
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All contents © 2013 ResorTime.com. All rights reserved. Terms and conditions of use. Privacy Policy ResorTime.com is one of the largest and most established timeshare vacation rental reservation services in the Time share Industry, offering travelers discounted vacation condo rental and timeshares for rent around the world.


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Baby Boy Announcement
Welcome your little one into the world with this cute announcement from me & my BIG ideas®.
Designed by Suezi Gurzi.
Material List
- me & my BIG ideas® Forever Fruity Specialty Paper Pad
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Trim green/white patterned paper from paper pad to 5" x 7" to use as announcement base.
Trim yellow cardstock 4" x 6" and attach centered to card.
Print announcement on green glitter paper, trim to 3 ¾" x 5 ¾" and attach to cardstock.
Add chipboard embellishments as shown to complete your announcement.


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See how far €140 will go
Three days & nights of music
See what Dublin has in store
At our Tourist Offices
Dublin's grand old hotels
Start planning ahead
Unique to Dublin!
The exciting Dublin food scene
Dublin's best cocktail bars
Start planning your visit!
Sightseeing & transport ticket
Helping you discover the city
Visiting on a shoestring?
15% off 2, 3 ,6 Days!
15% off
Unit 4b,
Santry Hall Industrial Estate,
Dublin 9
Ireland has some of the most spectacular scenery in the world with great food and hospitality to match. Travelling to Ireland using your own motorcycle however would normally mean using two ferries and a long journey across England before you start your vacation in Ireland.
Not anymore, Bike-on-Board (BOB) is here to take the strain and time out of your travel arrangements. Utilising a strong, purpose built cradle, your motorcycle can be transported in a secure and safe system between depots in Ireland and the continent in advance before you commence your vacation.
This allows you the time and convenience to book a cost effective flight to/from Dublin and join your bike at the depot to commence your vacation. Simply return the bike when your vacation is finished and we will transport it to the depot of your choice.
To find out more, visit our website www.bike-on-board.ie or phone ++353 1 8867700.
Bike –on-board is a service backed by EFL International Distribution Ltd., an Irish indigenous company providing transport solutions since 1983.
This epic spectacle arrives in Dublin on Sunday 11th May
Delicious food, from budget bites to Michelin stars
Niall Harbison's Top Dublin Eateries


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The atrocious British weather this winter has brought them all out again, brandishing the same old fallacies.
Take a Financial News trial today:
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From The Wall Street Journal


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National & State Parks
Filters Selected: National & State Parks x Clear All Filters
3850 70th St SE
Wishek, ND 58495
Wishek, ND 58495
Beaver Lake State Park provides an escape from the rigors of everyday life, offering a relaxing atmosphere in a secluded outdoor setting next to lake ...
Theodore Roosevelt National Park - South Unit
Medora, ND
Medora, ND
76 first-come, first-served sites. Pull-through sites are available. Group site available and reservations are accepted beginning March 1. No hoo...
1403 River Road
Washburn, ND 58530
Washburn, ND 58530
Cross Ranch State Park is located along some of the last free-flowing and undeveloped stretches of the Missouri River. A boat ramp and canoe and ka...
Fort Abraham Lincoln State Park
Mandan, ND 58554
Mandan, ND 58554
Guided tour of Gen. George and Libbie Custer's home. Self-guided tour of Fort Abraham Lincoln, home of the 7th Cavalry. Commissary Bookstore houses a ...
4480 Fort Lincoln Road
Mandan, ND 58554
Mandan, ND 58554
General George Custer's last home is reconstructed, as are the central barracks, granary, commissary and a stable. ...
2 miles north of Fort Ransom
Fort Ransom, ND 58033
Fort Ransom, ND 58033
Fort Ransom State Park, which takes its name from an 1860s military fort, is located in the midst of the scenic and heavily wooded Sheyenne River v...
1252A 41st Ave NW
Garrison, ND 58540
Garrison, ND 58540
The Guardhouse Interpretive Center was reconstructed to tell the story of the frontier military history of Fort Stevenson. Step back in time and ...
3 miles south of Garrison
Garrison, ND 58502
Garrison, ND 58502
Fort Stevenson State Park, located on Lake Sakakawea's north shore, was named for the late 1800s fort that served as a supply depot for other milit...
Devils Lake
Devils Lake, ND 58301
Devils Lake, ND 58301
Grahams Island State Park, located on Devils Lake, is named after the first known white settler in the area, Captain Duncan Graham. The park offers...
Highway 5
Cavalier, ND 58502
Cavalier, ND 58502
Icelandic State Park is home to the Pioneer Heritage ...
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Marine Trim Systems & Performance Enhancers
How to Plane a BoatA Better Ride for Small Boats
Article courtesy of Bennett Marine
Small boats from 10 to 20 feet have many of the same planing challenges as larger boats but may not need adjustable tabs to correct these issues. In less than an hour you could improve your hole shot and reduce the speed you need to get on plane.
The Right AttitudeYour boat achieves its best possible running attitude at or near full speed and lightly loaded. The trouble is, as you know, most of the time you are not operating your boat this way. As the boat slows from maximum speed, it begins to settle at the stern or "squat," creating an inefficient, untrimmed condition. At this attitude you use more fuel to drive the boat.
As the boat pushes forward, it creates a "hill of water." In this bow-high position, visibility is limited and the hull bottom is pounded. Also because of significant hull drag and extreme prop angle, fuel economy is poor.
Trim tabs reposition the boat's bow to cut through the water. Keeping the sharp forward sections of the bow down in the water, cleaving the oncoming chop, is what results in a smoother ride.
Whenever possible, installing remotely adjustable trim tabs will give the best possible control over the broadest range of conditions. But for some smaller boats that need help getting on plane faster and staying on plane at lower speeds, trim tabs that adjust due to the water pressure under the trim planes are an option.
These self-leveling trim tabs will help you:
The "Plane" TruthJust like adjustable trim tabs, self-leveling tabs like Bennett's SLT keep the boat running at its most efficient attitude over a broader range of speed, weight and water conditions. The SLT reacts instantly to boat speed and water pressure by adding trim when it's needed. At slower speeds, when the boat is trying to get on plane, the actuators hold the trim tabs down, which lifts the stern and simultaneously puts the boat at planing attitude. On plane, and as the boat's speed increases, water pressure pushes the tabs up.
Planing at lower speeds gives you several advantages:
Small TalkOf course, visibility is a much bigger issue in smaller boats. With trim tabs installed, giving you far less bow rise, you will be able to see where you're going without having to stand up.
Also, on smaller shallow water fishing boats with limited electrical capacity and a desire to keep things simple, trim tabs that retract under water pressure will allow these boats to take off in skinny water without increasing their draft due to stern squat. They can also plane at much lower speeds (again with a shallower draft) without compromising high speed performance.
Planing at lower speeds also has benefits for watersports. You can get a skier out of the water faster with less strain, and it's great for teaching kids to water ski (no big scary wakes to contend with) as well as pulling the young ones around in a tube.
Unlike adjustable trim tabs, self–leveling tabs cannot compensate for side-to-side changes in weight distribution "on the fly." However, they can be adjusted for "permanent" side–to–side conditions such as propeller torque, or a single weight location of a driver. Correcting both of these conditions can be extremely helpful in a small boat.
Lastly, often on tiller steered outboard boats operators will use an extension handle on the tiller to get their weight forward to hold the bow down. But this makes it harder to reach the shift lever as well as maneuver the boat while docking. By adding incremental lift at the stern, the self–leveling tabs will usually eliminate the need for the extension.
Small is the New BigAgain, if you have a small boat you may not need an adjustable trim tab system to boost your boat's performance. Self-leveling tabs can correct your planing problems at a fraction of the price, and with less installation time – so you can spend more time out on the water.
Article courtesy of Bennett Marine, the largest manufacturer of trim tabs in the world. Check out the selection and special pricing for Bennett trim tabs for small boats.
How Do Trim Tabs Work?
How Do Trim Tabs Work?Article courtesy of Bennett Marine
So you're convinced of the benefits of trim tabs: a better ride, fuel savings, greater visibility; and now you just need to select the right tab for your boat. This decision will actually have a major effect on the effectiveness of your new tabs. When sizing for your tabs, "Bigger Is Better".
Installing undersized trim tabs is one of the more common mistakes for new trim tab owners. A tab that is too small will have to be deflected more in order to create sufficient lift and could actually create more drag than the lifting benefit. The larger the trim tab, the more lift it will produce with the least amount of drag.
Remember this guideline: When making a choice between trim tab sizes, the largest trim tabs that will comfortably fit on the transom will be the most efficient.
As a rule, choose at least one inch of trim tab span (per side) for every foot of boat length. (Examples: 22-foot boat = no less than 22" x 9", 36-foot boat = no less than 36" x 9".)
To understand sizing, you have to know how trim tabs work. Trim tabs improve the performance of your boat in a much wider range of weight, weather and water conditions. The purpose of trim tabs is to recreate your ideal running attitude, even on a rough day. Much like ailerons and elevators on an airplane, trim tabs provide lift to compensate for changing conditions.
Three variables combine to affect lift:
As you can see, surface area plays a big role.
Trim tabs are described by their span and chord measurements:
Span = side to side measurement Chord = fore to aft measurement
The span of the trim tab has more of an effect on the amount of lift. However, a longer chord can be used effectively, and there are situations where you may need to use a longer chord. Such as for boats with limited transom space that limit trim tab span. And for slower boats (less than 15 mph), semi-displacement hulls, boats over 50 feet or boats with any other feature that increases the need for lift aft.
Make sure the trim tabs will fit your transom using the diagrams below as a guideline. When measuring, disregard the strakes and follow the Vee of the hull.
Trim tabs should follow the Vee at the junction of the transom and the bottom of the boat. For maximum side-to-side control, trim tabs are generally mounted 3-4" from the chine and run towards the keel.
In case of inboards, the complete run from chine to keel may be utilized if it is an unbroken span of the same angle. Protrusions, such as strakes, may be bridged provided there is no change in angle on both sides.
On boats powered by inboard/outboards (I/O) or outboards it is necessary that the trim tabs not be placed too close (8" minimum) to the lower unit(s) to avoid disturbing the water flow to the propeller.
Trim Tab MountingTwo types of mounting hinges are available:
Transom Mount - This hinge style fits to the boat's transom and is used in the majority of applications. The transom mount includes three parts - a backing plate mounted against the transom, a trim plane and a hinge plate.
Bottom Mount - For vessels that have curvature in the transom. It can only be used if a flat section of the hull bottom is available to accommodate the hinge.
After decades of use on the water, it's been proven that all boats, large and small, benefit from trim tabs. However, having the right size tab will make all the difference in just how much your boat's performance improves.
Article courtesy of Bennett Marine, the largest manufacturer of trim tabs in the world. Take a look at the wide selection of Bennett trim tabs for your boat type, size and boating use at iboats.com.


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10 7 / 2012
Track Team will join a panel at SDCC
Ben Wynn and Jeremy Zuckerman (The Track Team) will participate in a panel titled. I "Can't Write, I Can't Draw, But I Love Comics!" at SDCC ~
July 12th
3:00-4:00 I Can't Write, I Can't Draw, But I Love Comics!— Just because you missed out on the writing and drawing genes doesn't mean there isn't a place for you in the comics, animation, and gaming industries. Companies still need managers, publishers, producers, directors, mo-cap and voice-over actors, game masters, and programmers. Panelists Scott Agostoni (manager of comic creators and comics expert), animation/motion capture supervisor Derron Ross (Blur Studio), gaming CEO Mike Fischer (Square Enix), composer Jeremy Zuckerman (Legend of Korra), sound designer Benjamin Wynn (Avatar the Last Airbender), and film/mo-cap actor Joseph Gatt (J.J. Abrams' Star Trek 2), will alert you to some of these careers and tell you how to find your niche. Moderated by Susan Karlin (Fast Company). Room 32AB
Also, to update fans with small children. If you need a stroller, SDCC has to ban them from panel rooms. The Fire Marshall will not allow strollers inside programming rooms. This includes 2, 4, 5AB, 6A, 6BCF, 6DE, 7AB, 8, 11AB, 23ABC, 24ABC, 25ABC, 26AB, 28E, 32AB, Ballroom 20, and Hall H.
03 7 / 2012
SDCC Korra Panel - Friday the 13th (yep)
11:15-12:15 Join the Revolution! Nickelodeon's Legend of Korra— The cast and crew of Legend of Korra offer an in-depth discussion of Nickelodeon's hottest new series. Executive producer and creator team Bryan Konietzko and Mike DiMartino (Avatar: The Last Airbender) are joined by co-executive producer Joaquim Dos Santos (Avatar: The Last Airbender) as they discuss the creative process that brought the first book in the Korra series to life. You'll also get to hear from your favorite characters as talented voice actors Janet Varney (Korra), David Faustino (Mako), P. J. Byrne (Bolin) and Seychelle Gabriel (Asami) will be featured on the panel and renowned voice director Andrea Romano (Avatar: The Last Airbender) will direct the actors in a live performance from the series. And if you're extra nice, Mike and Bryan may even drop a hint or two about Book 2. So don't miss out! Moderated by Rich Magallanes, senior VP of current series for Nickelodeon. Ballroom 20
Official Korra panel description from the Comic Con website!
"And if you're extra nice, Mike and Bryan may even drop a hint or two about Book 2."
Aren't they cute when they tease us?:P
(Source: comic-con.org)
20 6 / 2012
Korra at Comic-Con
"David Faustino, Janet Varney, P.J. Byrne, Seychelle Gabriel and Andrea Romano will join co-creators and exec producers Michael Dante DiMartino and Bryan Konietzko for the presentation of "The Legend of Korra" on the same day [Friday]."
It looks like the official Korra panel will be on Friday this year! Can't wait!


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text: You can plan all you want, but your overachiever is going to come how and when she pleases — even if that means three weeks early.Prepare for the unexpected by familiarizing yourself with T2, the new preemie collection from Tane Organics. While clothing may not be tops on your list of concerns at first, once your peanut is home and swimming in a 0-3-month footie, you'll be looking for a way to fish her out.Available in two sizes (0 for three to five pounds, 1 for five to eight pounds) the capsule collection includes footie pants, a long-sleeve kimono onesie, raglan snap onesie, and fitted cap. Choose from mauve, blue, and cream pieces all crafted from a supple 100 percent organic cotton that's toxin free.Better for them, better for the earth.You can plan on it.Available at taneorganics.com, $18-$43.Photo: Courtesy of Tane Organics


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This major new report shows maps the extent to which poverty is found in suburbia. It highlights that most of those in poverty live in suburbs, many suburban neighbourhoods have high concentrations of poverty, and more suburbs could become poorer. Click here to view
Despite forming almost half the workforce women account for only 11 percent of construction workers and just 1 percent of those on-site. This new report, edited by Meg Munn MP and with contributors from academia and the construction industry, highlights the obstacles women face and set out an agenda for change.
Click here to view
The Smith Institute is undertaking an inquiry (led by Ed Sweeney, former chair of ACAS) to identify what government, employers, employees (and their representatives) can do to improve working life in Britain. With cuts in real wages for most workers and low levels of job satisfaction, the focus will be on what makes for a better workplace and better employment. For information, including how to submit evidence click here
This report highlights the stark and growing divide in house prices between places in England and Wales. Detailing changes since 2007, the report shows whilst London housing market is booming in almost all parts of the country outside the capital prices are still below their peak.
Click here to view
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Where next for Local Economic Partnerships?
Public policy concerns the ideas and actions that government (at all levels) and the public sector more broadly undertakes. The actions are attempts to improve an aspect of public life. These actions take various forms and are undertaken by various government bodies and agencies. Such actions vary from passing or repealing a law, cutting or investing in a particular service, to less tangible actions such as calling for people to act in a certain way. Public policy involves consideration of a myriad of factors. These can include the impact on the economy, on individual behaviour, on equity, and on the law. Consideration is often made to the potential un/popularity of the policy. This is not only important for politicians but also the policy's successful implementation by public servants. New policies also try to change a particular issue ideologically close to those implementing it. For example, a trade off may be made so the health budget receives increased funding whilst the defence budget is cut. Public policy has increasingly become evidenced based. With greater scrutiny and large sums of money involved, policy decisions have to be able to withstand close examination. In many cases government has chosen to scrutinise and evaluate a proposed policy by running a pilot scheme. Given the drive for efficiency and accountability public funded bodies and services have increasingly had to provide statistics on productivity and effectiveness. This complex dynamic between ideology, vested interests, electoral popularity and effectiveness impacts on every decision taken
The importance of public policy has increased as democracy and the state have expanded. Over recent years, the UK government's expenditure has been around 40% of GDP (peaking during recessions and national crises before subsiding – at its highest it reached 61% in 1942 to 1944). As the public has demanded more action the state has played an ever larger role in attempting to cure societal ills. Not only has the state increased in size since the turn of the twentieth century but expectations have become greater. In recent years public services have come under pressure to deliver greater choice and freedom to citizens who have experienced higher standards of living and who are no longer willing to accept 'one-size fits-all' provision. This has meant greater efficiency savings and smarter public policy to deliver the kinds of services people expect. The complexities of public service delivery are only one aspect of the policy debate. With the importance of policy to the economy, business has looked to government to provide the right environment for growth so that they can compete with international firms. Such policy implications include government policy on education, health, rates of tax, labour flexibility, immigration and regulation to name but a few. Policy is also important for those campaigning on issues around poverty, international development, civil liberties, life chances and the environment. With so many different interests and such high expectations the importance of policy has never been greater or, indeed, more complex.
Given the complexities of public policy formulation and implementation, government (and public agencies) have increasingly looked to independent research organisations to inform and improve their accountability, decision making and management. Research think tanks fill the gap between academia and the political world. By giving a platform to new thinking they offer government alternative approaches to policy formulation. They not only offer new approaches but actively try to influence decision making by engaging politicians. In parallel to this, public policy think tanks use the media to apply pressure on government and the opposition to support a particular proposal. These proposals for improved policy come out of research undertaken and events held. Research can vary in form. Often reports are drafted by individual researchers but publications can also consist of edited chapters on a particular theme or a report based on deliberation from an esteemed group of panellists. Effective research is evidenced based rather than purely ideological. Given the complexity of policy making, substantive evidence has to be in place to back up any recommendations. Publications are not only written by researchers, but can also be penned by academics, opinions formers, chief executives, decision makers, trade unionists, leaders from the third sector, civil servants, politicians, and journalists. In addition to research, events are held to debate and discuss issues. These can come in the form of roundtable discussions, seminars, conferences and lectures. By discussing issues with stakeholders it is hoped that a more rounded and nuanced approached to a policy can be found.
The number of nonpartisan think tanks has increased with the professionalisation of politics and growth of single issue campaigns. Most are not-for-profit organisations, independent, nonpartisan and free from government. They rely on grants, donations and contracts for funding. By being independent views and recommendations are more likely to be trusted. Independence is also important in engaging stakeholders. An open forum allows freedom to express new ideas and approaches to policy free of party dogma and politicking. Nonpartisan political think tanks offer new insights and thought leadership on public policy issues. Although think tank research is evidence based and independent there is often ideological bias in what is produced. In the world of policy and politics more broadly nothing can be said to be ideologically neutral. With so many influences, interests and beliefs policy cannot be value free. In reality policy has some normative foundation from which choices and trade offs are made. Research think tanks in the UK tend to have some form of political motivation. Broadly speaking they are either progressive or conservative so come at policy from a particular angle. Whilst this is true of some others look at a single policy areas such as the King's Fund on health, the Institute for Fiscal Studies on economic analysis, and Chatham House on foreign affairs. Regardless of their particular agenda almost all are nonpartisan, with exceptions including the Fabian Society which is affiliated to the Labour Party or the Bow Group which has links with the Conservative Party.
Progressive think tanks, like the Smith Institute, focus their work on issues around social justice, sustainability, equality and fairness. Progressive polices have traditionally looked at how we counter social exclusion to create a fairer more equal society. Progressives believe that by harnessing and shaping the power of the market the interests of the many can be best served. At the heart of progressive thought is the idea that individuals are social beings, and that through mutual endeavour social and economic problems can be overcome. Thus there is emphasis on collaboration rather than just individual action. Given the importance of cooperation issues around democracy and empowerment are stressed. There is also the belief that by being fairer society will also be more prosperous. By having fair provision of social goods the work force will be educated and healthy which will benefit the economy. A fairer society is not only good for the economy but also the individual whose capabilities can best be realised and sense of wellbeing increased. Progressives also stress the importance of sustainability and international development. Not only are these economic necessities they are moral issues as they allow opportunity to be extended to others – be it those in developing nations or to future generations. Modern centre-left thought is not merely about resource distribution but also about shaping institutions, policies and behaviour for the benefit of all. These norms shape the perspectives that progressive research takes. As such research often looks at issues such as health or education through the lens of social justice or equality
The Smith Institute is a leading nonpartisan public policy think tank which promotes progressive policies for a fairer society. We provide a high-level forum for new thinking and debate on public policy and politics. Through our research, reports, briefings, monographs, events, lectures, education, and our website, the Institute offers a platform for thought leadership on a wide range of topics. We are interested not only in innovation and new ideas but also in how to translate policy into practice. Founded in 1996 in memory of the late Rt. Hon. John Smith MP, the former leader of the Labour Party who had an all pervading passion for social justice, the Institute seeks to engage politicians, decision makers, practitioners, academia, opinion formers and commentators. The Institute's activities are informed by a network of well known experts, policy makers, research fellows and patrons. Based in London, the Institute is a not for profit organisation which works in partnership with a range of public and private organisations, other nonpartisan political think tanks, foundations and charities. The Smith Institute has an excellent track record in influencing and shaping public policy, and extensive national and international contacts. Over the last decade we have held over 500 events and published more than 150 reports, with contributions from Prime Ministers and MPs to archbishops and chief executives. The Institute's work strands include: economy and finance; government and politics; sustainability; business and third sector; local government, cities and regions; housing and regeneration; education and families; health and wellbeing; and EU and international.
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