Blog Biz Update!
Posted by Michelle Moquin on October 9th, 2008
Good morning!
First of all….You asked and you shall receive! I am releasing my first product line aptly named, ‘Stock Ups’, which are available at my online store. ‘Stock up’ on your favorite ‘A day in the life of…’ stuff for you, your family, and your friends.
While perusing my blog, sip out of your favorite mug or slip into your favorite comfy T-shirt.
Part of a club or a group of peeps that you hang with discussing topics on my blog? Let me hang with you too – We’ve got T-shirts in all sizes for the guys and the girls, graced with….yours truly and of course my blog, ‘A day in the life of…’
For all of you at work chitchatting around the water cooler or going for that cup of coffee – I have the perfect mug for you! When you click on my ‘Stock Ups’ page (permanently located above the “LOVE” symbol) you will be able to view all of my stuff, including the coffee mug you see above, as well as some other fun stuff that you can purchase…Mostly T-shirts and mugs but I’ll be designing more soon. I have so many ideas that I want to share with you.
If you’re anxious to go shopping now, click on the mug and it will take you directly to my online shop where all of the ‘Stock Ups’ are available for purchase or click on the “Get unique gifts here” button on the left sidebar. Cool Huh? I thought you’d like it. Oh…and to all of my overseas readers, we ship internationally too!
Secondly…You may have noticed that I added a ‘Why Donate?’ page next to the ‘Stock Ups’ page. If you enjoy my blog and the daily writes, and you’d like to make a donation, this is the place where you would go to Donate to Michelle Moquin’s ‘A day in the life of…’ Blog. You can donate as much as you want or as little as you want; the amount is entirely up to you.
Why donate? I write a post everyday and I want to be able to continue to do so everyday. I know how much you, my readers, count on this daily blog. My mission is to uplift and inspire you, and to write about a variety of interesting, informative, thought provoking, and sometimes not so pleasant subjects on a daily basis. In order for me to have the time to continue to research, connect with my sources, and provide information and ideas, current and contemporary with the times, I need your support. Any amount is appreciated. Your anonymity, as always, will be respected.
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Note: I will not be accepting any donations from my foreign readers. The reason is, that I want all of my readers to know that my opinions are based on my own personal beliefs. The best way for me to demonstrate my objectivity is by not accepting foreign donations. That means you too Canada :)
However, if you feel you’d like to support my blog in some way, easy…shop at my ‘Stock Ups’ page. You’ll be supporting this blog by purchasing items and 10% of everything you purchase will be donated to one of my select charities. In addition if you would like to advertise on my blog, we can get that set up for you too. Please email me. Thank you!
That’s it. As always, I appreciate your thoughts and comments whether it be on any or all of the above, or nothing that has to do with this post at all. :)
Hi Doug: Well said, lets just hope America can pull through. After reading most of the comments yesterday…oh we still have a ways to go. Love the song though. J
Hi Tara: I like your comment. You are correct about America having lots of potential, but like anything else that has potential, it means nothing, if it is not validated with concrete steps. We have some big shoes to fill.
Hello Ireland, John, Carey, Ohio: Grow up. Wipe the racist film from your eyes and look past the color of skin. Especially you Carey. You’re admitting that McCain would do no good for the country, yet you let the color of Obama’s skin, which has no affect whatsoever except in your small mind, keep you from voting in a great leader. What is wrong with this picture? You all would rather see the downfall of America than a black man in office. My advice: “Don’t let your mind wander; it’s too small to be out on its own. “
And Lindy: Your family owned slaves. What has that got to do with anything? Does your family have that much control over the choices that you make in life? Don’t you feel that any person should have equal opportunity in this world, or are you a racist too?
Roy: I have really nothing to say to you except from your one little comment you have represented yourself as not only a racist but a sexist too. Not a very good first impression.
Kathy: Happy to hear that. You seem like a level headed woman. And I’m sure that after everything you have heard come from McCain’s mouth and knowing how you feel about Palin, I don’t see how you could still consider McCain.
Hi ZL: Thanks for the phone call and for being there. I am disappointed too about all of the racist comments but sadly, not surprised. This country has a long way to go. Hey, finally caught up on your blog from the past few days. That video tripped me out. Oh…and thank you for informing me about cafe press!
Hey Shawn: Ditto your words!
Hi Barbara: You would think. But I feel there are still women, many actually that still are influenced by their white hubbies and families. Ladies: You know who you are out there – smart up. Think for yourselves. Vote for the country.
This is a good place to end so I will. See ya tomorrow.
Gratefully your blog host,
michelle
Aka BABE: Your Bad Ass Bitch Editor
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October 9th, 2008 at 11:04 am
The Latest Thinking on Estate Planning: New Opportunities in State Taxes… Nonspouse Beneficiaries… More
Blanche Lark Christerson, Esq.
Deutsche Bank Private Wealth Management
Under current law, the federal estate tax exemption is set at $2 million now. It is scheduled to jump to $3.5 million in 2009, disappear entirely in 2010 (along with the estate tax), and revert to $1 million thereafter. The top federal estate tax rate, now 45%, is supposed to go back to 55% in 2011 (plus a 5% surcharge on some estates). Crazy, right?
Probable outcome: The above scheme would be too disruptive — it won’t be followed. Some change in federal estate tax law is more than likely between now and 2010. But the key numbers (the exemption amount and the tax rate) can’t be known in advance.
What to do: Plan as if death will occur under current law. Take steps to reduce the estate tax your survivors would face.
This planning should recognize some recent legislative changes that may help trim estate tax.
SLASH STATE TAXES
Estate tax planning should not be confined to federal law. Your state may impose its own tax, which might be greater than the amount you would owe the IRS.
Background: Under prior law, state estate tax was linked to federal estate tax. In effect, an amount paid to your state would reduce what your estate owed the IRS. A change in federal estate tax law, though, resulted in less of this revenue going to the states beginning in 2002 — and such revenue disappeared altogether in 2005.
Reaction: Many states have broken the link — “decoupled” — from the federal estate tax system to preserve their revenue. The rules vary from state to state, but the basic effect of dying in a decoupled state is that your estate will owe more estate tax than would have been the case if your state had not decoupled.
Strategy: Consult with a tax professional to gauge your likely state estate tax obligation. If it’s steep, consider moving to a state where the estate tax will be lower.
This maneuver may work best for people who own two homes, including a second home in a low-tax state. By spending more time in your second home, you may be able to change your state of residence.
Helpful: The more steps you take to show that you’ve moved, the less chance your old, high-tax state will attempt to tax your estate. Consider changing your driver’s license, vehicle registrations, voter’s registration, bank accounts, etc., to reflect your new primary address.
CLOSING THE MARITAL GAP
Although states have generally changed their laws to increase estate tax collections, certain taxpayers may be helped by new legislation. In recent years, some states have changed their laws to allow unlimited marital deductions for same-sex couples in civil unions.
What this means: Partners in a state-recognized civil union can give and bequeath any amount of assets to each other, free of state gift or estate tax. (Opposite-sex married couples continue to be entitled to these unlimited deductions.)
States offering this tax break to civil unions include Connecticut, Massachusetts, New Jersey, and Vermont. Others may follow.
Strategy: If you are in this situation and the savings are meaningful, investigate moving to a state that provides this tax benefit and registering your civil union there.
Caution: The federal tax law doesn’t recognize a marital deduction for civil union couples, so your gift to your partner may still be subject to federal gift or estate tax.
Again, take the necessary steps to show that you’ve moved.
BENEFICIARY BENEFIT
Some new federal laws also may be helpful for estate planning. Example: The Pension Protection Act of 2006 included a provision that can add flexibility to your estate plan.
New rule: As of this year, a nonspouse beneficiary of a company-sponsored retirement plan can transfer the money to a new account known as an inherited IRA.
Formerly, a nonspouse beneficiary of an employer-sponsored retirement plan account had no opportunity to roll over that account at the account owner’s death. Frequently, the nonspouse beneficiary was obliged to withdraw the entire amount of the account in either a lump sum or within five years of the account owner’s death. As a result, valuable long-term tax deferral was lost.
Now, if you leave your 401(k) account to, say, your daughter, she can transfer that money to an inherited IRA. Minimum required distributions from an inherited IRA can be stretched out over her life expectancy.
Required: The inherited IRA must be titled in the name of the deceased account owner for the benefit of the nonspouse beneficiary. Example: “Bob Smith (deceased) for the benefit of Carol Jones.”
Strategy: If you wish a nonspouse to inherit your employer-sponsored retirement account, designate that person as beneficiary. Instruct your beneficiary about the opportunity for an IRA transfer and subsequent tax deferral.
Another possibility is to name a trust as beneficiary of your company plan. A nonspouse can be named as trust beneficiary.
Again, the account can be transferred to an IRA and required distributions can be extended. A trust might make sense if you are concerned about the beneficiary’s ability to handle an inheritance prudently.
EASING UP ON EASEMENTS
The Pension Protection Act of 2006 also included a provision that would encourage donations of conservation easements. Such donations have estate tax as well as income tax benefits.
How they work: When you donate a conservation easement to a local nonprofit conservation group, you agree to a restriction on future use of land you own.
Example: You own a 20-acre parcel of land near an urban area. You agree that commercial and industrial development will be prohibited on that land.
Residential development might be limited to a certain number of homes, with minimum lot sizes.
To determine the deduction: Before-and-after appraisals might indicate that the land was worth $2.5 million previously. With the easement, its value has been reduced to $1.3 million, in this example. Therefore, you would have a $1.2 million income tax deduction — the difference between $2.5 million and $1.3 million.
Under prior law, deductions for conservation easements were limited to 30% of your adjusted gross income (AGI) per year — amounts you couldn’t deduct immediately could be taken over the next five years.
New law: For such donations made through 2007, the annual deduction limit has been raised to 50% of AGI. For farmers and ranchers, that limit was raised to 100%, as long as the easement does not prevent farming or ranching. Excess deductions can be carried forward for up to 15 years.
Estate tax benefits: Naturally, reducing the value of this parcel from $2.5 million to $1.3 million also reduces your taxable estate.
At your death, this parcel may be eligible for an additional estate tax exclusion worth up to 40% of the value of the land (excluding structures) that now carries a conservation easement.
Required: To get the full 40% exclusion, the easement must have reduced the property’s value by at least 30%. Smaller easements rate a smaller deduction.
Example: As above, your property value already has been reduced from $2.5 million to $1.3 million via a conservation easement. You have a house on the property now valued at $300,000.
The land subject to the easement is thus worth $1 million — $1.3 million current value of the property minus $300,000 for the house.
Thus, a 40% exclusion would reduce your taxable estate by an additional $400,000 (40% of $1 million) — a handsome savings.
The maximum benefit of this estate tax exclusion is $500,000.
October 9th, 2008 at 11:20 am
Michelle
You are so right. My husband thinks he knows everything about the candidates. He has been telling me how to vote for thirty years. This year I’m going to agree with him as usual. But when I get in that booth I’m voting for Obama.
Loren
October 9th, 2008 at 12:56 pm
Go Loren!!
Michelle, I can’t wait to see more cool products in your new store!! Congratulations!!
I invite you all to visit my blog on my series on CERN, the Internet, its founders, free thought and how it all is changing our global society and politics today for a better tomorrow. Click my name and I’ll see you there!
October 9th, 2008 at 1:27 pm
Michelle
When I told you that we had planned to drive the market down to about 8,000 to bankrupt the millionaires and leave the playing field to us billionaires, the bush boys set out to protect their friends.
Bush is holding on to the government’s investment options to protect his cronies. He gave Buffet a guarantee so that he would begin investing in the market to make the billionaires believe that the time to buy was now.
We were not fooled. We will continue to drive the markets down to eliminate anyone who can’t sit at “no tables’ state” table. We are aware that the bush boys are going to use the 700 billion to make as much money for their cliche as they can.
This is truly high stakes poker. One can bluff, but if he doesn’t have the money to meet a raise, then his hand means nothing.
Anonz
October 9th, 2008 at 3:01 pm
Anonz, why not take another $700B and buy the Fed Reserve and regain/revamp our current monetary system? At least that would be helpful to the people…
Or is it more fun to play the game? And are the bills of the world getting a serious high out of watching the little people suffer while they play ‘poker’? Does it bring joy to hear stories of long time jobs lost, houses lost, retirement funds with a zero balance, lives lived in quiet desperation (we’ll have record suicides this year, bet some bills on that)?
Sweet pea, how is it you can play a game so well yet show little compassion, you’re far too intelligent to pretend you don’t know the extent of the damage to humans, do you not care, at all, even a little?
I’ll hold out hope for you, there must be a heart in there somewhere…
or am I just stubborn in my beliefs when it comes to you?
- Lady Lilly
PS Mischa – nicely done, I wish you much success, you deserve it : ) and it is always a great day when I get to hear your voice, no matter that the content was somewhat troubling yesterday…
October 9th, 2008 at 9:31 pm
M’ Lady:
I find it difficult to feel sorry for people who support people like me because we espoused philosophies that allowed them not to be responsible for their lack of concern for their fellow citizens.
These crying bastards are just reaping what they have sown. We are the product of their seeds of greed and apathy for their fellow americans. They created us by supporting “less government.”
What was meant was less federal government. The reason is because those bigots knew that it was the federal government that is constitutionally charged with keeping the playing field even for all its citizens.
If you look at the states where most of those that were screaming so loudly for “less government” live, those states are the most repressive against its minorities. The reason is because in states the majority rules.
Funny how when government is based on majority rules, those same people want government to exert its influence. Why should I feel sorry for these bigots?
We just tapped into that bigotry and suggested that not only could those bigots benefit from using “less government” to keep them financially ahead of the minorities, they could use even more “less government” to get a financial leap above their fellow white brethren. All was necessary was the deregulation of the investment markets and business in general.
They greedy insensitive bastards were all for it. We couldn’t deregulate fast enough for them. They were all for appointing people to the regulatory commissions that were of like mind so that they would not be inclined to enforce whatever regulations that were still on the books.
Before you ask me to feel sorry for these whining bigots, take a look a the bunch that is supporting Palin and McCain. Are you telling me that you think that they believe any of the shit that those two are attempting to float against Obama?
If we spare those bastards, they will just continue using the system for their own personal greed and bigotry. Besides we are the frankensteins that they created. The last time I checked the monster always destroys its creator.
No, my inclination is to do what I told this blog a few days back. Watch us drive the markets to about 8,000. We will have eaten the millionaires lunch and then we will feast on the 700 plus billion and milk the system for about 540 billion more. I think at that point we will be able to split up the leavings and start the greed cycle all over again by allowing the those greedy bigots back in the game.
Believe me as soon as they start making a little money, they will be so full of greed that they will be oblivious to the plight of their neighbors. These are the same people who have are willing to float the lie that this crisis was caused by the minorities getting loans that the could not afford to pay back.
Of course they know that all those loans could probably add up to maybe $10 billion. Those loans were so inflated as to make it almost impossible for any of the mortgagers to actually be able to own those homes. And McCain is proposing that the government buy up those inflated mortgages at full value.
I say bring it on. We are going to clean up at their expense. Wait until the market hits around 8,000 before you get in to start buying. There will be some very good deals left over after we have eaten our fill.
The bush administration is trying to use the government mint to print up money to protect themselves and their personal cronies. The international markets are aware of this and they are panicking.
If these greedy bigots are willing to keep us in power to maintain their governmental advantage over the rest of the countries, then I say f**kem.
Hope I am still
Sweet Pea
October 9th, 2008 at 9:55 pm
anonz, frankenstein was killed in the book.
October 9th, 2008 at 9:59 pm
Anonz
I have to say that you have given us a different picture of America’s financial problems
Sonja
October 9th, 2008 at 10:06 pm
Anonz
I never stole anything in my life. I am voting for Obama because I think that he is the best person for the job. I am a white man that believes that all americans should share her benefits together.
I will not be able to send my to kids back to college next year. I will probably be forced to choose between them as we can only afford to support one of them.
I don’t understand how you could do this to my family for money. Whatever principle you believe that you are answering to, it is devastating to many innocent families.
Do you have a conscience?
Clark
October 9th, 2008 at 10:16 pm
Anonz
You tell ‘em! All I used to hear from the preppies around here was how much money they were making. We live in a minority free community. Yet, most of the talk is about how much better we whites are for the country.
Greed and racism is so alive in this country. I would never think of dating a minority, but I don’t see why we have to be so strident against them.
I read you all the time. It is like you are in my head. My parents are exactly as you have described them. I am almost embarrassed to have all this wealth at the expense of so many having so little,
Beverly
October 9th, 2008 at 10:18 pm
Fuck you Anonz. who died and made you god?
October 9th, 2008 at 10:20 pm
Anonz
So let me get this straight. A few greedy pigs created you, so you are going to destroy the lives of hundreds of millions to teach them a lesson.
You will just happen to get so much richer while doing it.
Mark
October 9th, 2008 at 10:23 pm
Okay so I wait until the market hits about 8,000. You got to give me a little more. Is that above 8,500 but less than 9,000 or below 8,500?
Steve
October 9th, 2008 at 10:25 pm
Anonz
When the rest of us find out who you are, you are dead!
Steve.
October 9th, 2008 at 10:36 pm
Anonz
I am voting for Sarah Palin because she inspires me. Who do think you are telling women how to think? We are going to win this election.
October 9th, 2008 at 10:39 pm
Harry if you must threaten someone, don’t use my name and sign in with your own. It is morons like you that have enabled the republicans to stay in power for so long.
You may be my older brother but you are a certified moron.
Steve
October 9th, 2008 at 10:39 pm
Harry if you must threaten someone, don’t use my name and sign in with your own. It is morons like you that have enabled the republicans to stay in power for so long.
You may be my older brother but you are a certified moron.
Steve
October 9th, 2008 at 10:41 pm
Anonz
If Zen Lill can’t appreciate a man with real values, come to Atlanta, we can.
October 9th, 2008 at 10:48 pm
Hey guys don’t get so mad with Anonz. He’s just doing what we all would be doing if we had his money. After all we created the atmosphere which allows his kind to thrive.
Look to yourselves and ask why we allowed the republicans 8 years of fucking us up the ass. We have only ourselves to blame.
Those of us who are now crying that we were not the republicans looked the other way at all their dirty tricks, evil deeds and generally benefited from the actions of people who we despised.
So now our chickens have come home to roost. Let’s band together and get rid of anything republican.
If its republican vote it out. If the dems get in and start acting against the public’s welfare, let’s mount a recall. We have to take back our country.
Oh, and Anonz, thanks for the wake up call.
Chris
October 9th, 2008 at 10:50 pm
Get off Anonz’s back.
don’t hate the player, hate the game
Joe
October 9th, 2008 at 10:51 pm
Anonz
You may be white, but this black girl would certainly like to meet you. You turn me oooon!!!
Wilma
October 9th, 2008 at 10:57 pm
Michelle
When this country goes down the shitter, white people like you will be to blame.
Roy
October 9th, 2008 at 10:57 pm
Michelle
When this country goes down the shitter, white people like you will be to blame.
Roy
October 9th, 2008 at 10:58 pm
So sweet pea, let me ask you this, do you hate yourself for being a repug bc you state your case as if I (and many many like me) are all stupid bigots. I’m not. Though based on yesterday in Ohio and elsewhere there is the whole color thing going on (we’re the same friggin’ race people – human – last time I checked) – Granted that people got sold on a bill of goods, less government, but repugs are excellent at selling their spin, (so are Dems for that matter, look at Bill Clinton) so we all need our asses kicked and our wallets raped to make a point now, is that it?
I don’t care if you don’t feel for the Bills/Mils out there, but average citizens are going totally bust, and did you ever stop to think that maybe bc they work their asses off 40+ hours a week, have families and obligations that maybe they just don’t have time to research every bloody detail and go out to protest/overthrow the US government?
And, no, I do not believe the true repug bigots believe any of the shit ‘that one’ and that’d be grandpa McCain (I’m OK with me using ageism for now, it’s ugly I know but I forgive myself) and Palin, oh please…
I’ll ask again, is there a heart in there somewhere? And now I’m totally curious, are you a public figure I’d recognize immediately? Or are you Warren Buffett’s whipping boy? hahaha…
You’re too much, I remember way back when you told me you were ‘rich’ and I thought ‘uh-huh honey we all are on the internet’ – hahaha – but, babe, I can see that you are totally drunk on money and power and at the end of the day, you’ll have the prettiest casket in town. I feel for you, you love the game, the power, the money, but what else have you got (not the latest count of homes, you know what I’m saying…)??
You know I’m a Zen existential woman so I can’t say I’ll pray for you but – sigh – somebody out there had better.
I appreciate your honesty, as always, even if I do find the content disturbing. I’m beyond being angry, I’m sad for others, my life will still work out fine, I’ll make sure of that. I do not know that to be true for the Clark’s of this world and we sure can use an educated next generation. They’re going to need well paying jobs to pay for your and other bills’ current feeding frenzy.
- the Zen Lady Lilly
PS please let me rant some more – I’m pissed off bc the American education system in general is fucked up, they’re teaching that same stupid rote BS way I learned. I tried to help but am pulling my kid and sending her to private school, it’s an inexpensive sleeper of a school, too, thankfully. She knew more about being a world citizen at 7 living in Singapore than she’s learning now at 9 in the US, and that’s F’d up my fellow Americans…think about that when you’re feeling bigoted and superior.
UK Women, Kelly was going to get the ax but she F’d you all over with her ‘working woman/momma’ resignation rap, now you know how it feels to have a female top dog make you look bad, eh? actually, that’s not a dig bc I don’t think she represents all of you, so stop thinking Palin represents all of us, that’s all I’m asking…
click on Zen Lill for ‘a call to the American people – If You’re Out There’ Mischa, it’s uplifting lyrical words especially for you : )
Ok, I’m done now : ) Luv and peace, Zen
October 9th, 2008 at 11:06 pm
LOL – ‘if Zen Lill doesn’t appreciate you Atlanta will’ – ah, you women all make me laugh and I thank you. If anonz wanted to flirt with any of you I’m sure he would. I have no say in that. And who said I didn’t appreciate the sweet pea? And the info he gives us all. It’s our biz what we do with it. – ZL