Category Archives: How-To’s

Winter Safety tips–Is your furnace working correctly?

How-To's

Be Safe with these winter furnace tips!

By Don Segavac

What do you do if you come home and find that your house is cold and your furnace is not working?  There are several things you can do before calling a repair service. First, check your thermostat. See if it has any kind of digital display, time, temperature etc.  Also find out if  it is operated by a battery or two. Try replacing the batteries. This is the most common type of furnace failure. Second check your fuse box or circuit breakers. If these are fine you need to take a look at your furnace, older ones have an on/off switch that looks like a light switch. Make sure it is in the on position. There is also a small square fuse box next to it. Check this fuse. Newer furnaces have a lock-out switch that doesn’t allow the furnace to operate if the service panel to the filter is not properly in place. The last thing to check is your gas meter. The gas company may have shut it off due to nonpayment or some neighborhood kids may have shut it off as a prank. If you have checked all these possibilities and found them in good order,   than you may want to call a service person. This also applies to central air conditioning with one added step, outside next to your compressor unit you will find a service disconnect box. Most have a red hand. Move this hand to off position and open the box. Here you will find two fuses. Check to see if either of them has blown. If so you can get a replacement fuse at most hardware or big box stores. Be smart and think safety when dealing with appliances that use gas and electricity.

It Pays to Plan Ahead: 2013 Year-End Tax Planning

How-To's, Local Business,

By David Yonker

As 2013 draws to a close, the last thing anyone wants to think about is taxes. But if you are looking for potential ways to minimize your tax bill, there’s no better time for planning than before year-end. And, with the higher rates put in place with the passage of the American Taxpayer Relief Act of 2012, being tax efficient is more important than ever.

Consider how the following strategies might help you to lower your taxes.

 Put Losses to Work

Since stock and bond performance tends to differ throughout the year, there is a chance that your target asset allocation has shifted, potentially exposing you to more risk than you originally intended.1 That is why now is a good time to review your portfolio for gains and losses and make adjustments as needed.

The IRS allows you to offset investment gains with losses, a practice sometimes referred to as tax-loss harvesting. Short-term gains (gains on assets held less than a year) are taxed at ordinary income tax rates, which now range from 10% to 39.6%, and can be offset with short-term losses. Long-term gains (gains on assets held longer than a year) are taxed at a top rate of 20% and can be reduced by long-term capital losses.2 To the extent that losses exceed gains, you can deduct up to $3,000 in capital losses against ordinary income on that year’s tax return and carry forward any unused losses for future years.

Given these rules, there are several actions you may want to consider:

· Avoid short-term capital gains when possible, as these are taxed at higher ordinary rates. Unless you have short-term capital losses to offset them, try holding the assets for at least one year.

· Consider taking capital losses before capital gains, since unused losses may be carried forward for use in future years, while gains must be taken in the year they are realized.

· Consider sell or hold decisions carefully. Keep in mind that a few down periods don’t mean you should sell simply to realize a loss. Stocks in particular are long-term investments subject to ups and downs. Likewise, a healthy, unrealized gain does not necessarily mean an investment is ripe for selling. Remember that past performance is no indication of future results; it is expectations for future performance that count. Moreover, taxes should only be one consideration in any decision to sell or hold an investment.

 Maximize the Power of Tax Deferral

Year-end is a good time to reevaluate employer-sponsored benefits, such as qualified retirement plans that offer tax deferral and typically allow participants to make contributions on a pre-tax basis, thereby lowering current taxable income. If you have not already done so, you may still have time to “max out” your 2013 contribution of $17,500—with an additional $5,500 in “catch up” contributions if you are aged 50 or older.3

Once you have contributed the maximum to your employer plan, consider doing the same with any IRA accounts you may have. Depending on your situation, you may be able to deduct all or a portion of this year’s contribution ($5,500 with an additional $1,000 in catch-up contributions) from your 2013 tax bill.

Another important year-end consideration for older IRA holders is whether or not they have taken their required minimum distribution (RMD). Starting at age 70½, the IRS requires account holders to withdraw specified amounts from their traditional IRAs each year. If you have not taken the required distribution in a given year, the IRS will impose a 50% tax on the shortfall. So make sure you take any required distributions by December 31.

 Income Shifting Through Gift Gifting

Year-end is also a time to make gifts to children, grandchildren and charities. The annual gift tax exclusion is currently $14,000 per individual ($28,000 for spouses combined). This technique works particularly well for individuals or couples who want to give away significant assets in a relatively short time frame. For instance, assuming you and your spouse have one child who is married and two grandchildren, you could give away $112,000 this year–$14,000 from each of you to each family member—without affecting your lifetime gift tax or estate tax exemptions. Over time, these annual gifts could help to shift considerable assets out of your taxable estate.

Another time-sensitive gifting strategy involves making a charitable gift from an IRA. The tax law passed in January 2013 granted IRA holders who are at least 70½ years old an extension (through December 31, 2013) for making contributions of up to $100,000 directly from an IRA to a charity of choice without having to treat the withdrawal as taxable income. While the gift is not tax deductible, if done properly it does help fulfill your RMD for the year.

If you act fast, there is still time to reduce your tax bill before the books close on 2013. Contact your financial professional and tax advisor for assistance.

Investing in stocks involves risks, including the loss of principal. Bonds are subject to interest rate risk if sold prior to maturity. Bonds are subject to availability and change in price. Asset allocation does not assure a profit or protect against a loss.

Under certain circumstances, the IRS permits you to offset long-term gains with net short-term capital losses. See IRS Publication 550, Investment Income and Expenses.

These are government maximums. Your employer may impose lower limits. Rules vary, so check with your benefits administrator to see if there is still time to increase your deferral rate for 2013.

How to Winterize Your Home

How-To's

By Don Segavac

winter-houseWith days getting shorter and the nights getting colder winter is upon us in West Michigan. So here are a  few ideas for winterizing your home. The most important thing you can do is disconnect your hoses from your outdoor faucets. This will help keep your pipes from freezing. Most modern homes have frost- proof faucets, the water actually shuts off between 12 and 16 inches from the outside wall. Old homes have shut-offs in the same location, you turn them off inside and open the outside to drain the water out.

 

If you leave your hoses connected you still have water in that 12 inch area and it can freeze and burst your pipes. The next thing you want to do is make sure your gutters are clean of leaves and debris. They need to work properly and get the water away from the house.  Gutters full of water weighs a lot and can cause them to loosen and even fall off. Next look from areas where cold air can get in, when it’s dark out turn off your lights and have someone shine a flashlight around your exterior doors. If you see light you need to fix or replace your weather stripping. The most common place is at the bottom of the latch side of the door. You can move the weather stripping closer to the door using a small piece of cardboard as a shim. If you have cold air leaking in around your windows, a shrink wrap insulation kit is an inexpensive way to solve this problem.

 

Check your attic, you should have at least 12 inches of insulation. If not, blow some in, most lumber yards and big box stores will loan you a blower if you buy enough insulation or you can roll batting type insulation. Be sure to wear the proper protective gear. If you have an emergency generator get it out and fire it up.  Make sure it is working and keep some spare gas around.  Now that you are using your furnace put fresh batteries in your thermostat– if it uses them– and in your smoke alarms. Change your furnace filter often it does make a difference.

 

If you have central air conditioning you should cover your compressor with a piece of plywood slightly larger than the unit itself. Use bungee cords to hold it in place. This will protect it from falling icicles and snow. Never wrap it in plastic or use a trap, this will trap moisture and could cause premature failure due to rusting, this unit needs to breathe year round. Make sure you have flash lights and emergency candles on hand. A deck of cards is cheap entrainment when the power is out.

 

I look forward to sharing more helpful hints on taking care of your home in the weeks to come.

Chef O’s Helpful Thanksgiving dinner hints

How-To's, Local Food,

Tips for a Thanksgiving Dinner

By Chef Oliver Hale

TurkeyWell here it is, that time of the year when families get together to eat some made up dishes, wear some of their favorite outfits, and cheer on their football team. No, it is not the Buckeyes vs Wolverines, it is THANKSGIVING.

 

Preparing the biggest meal of the year, Thanksgiving Dinner, can be a fun, non-stressful, and enjoyable time to spend in a kitchen. Here are some tips that I use to make it my best time of cooking:

 

1) Plan the menu one week in advance. Include traditional family favorites, but add one or two new dishes for variety.

 

I begin by planning my menu one week in advance to take advantage of specials and avoid crowded stores and long checkout lines. A last-minute trip to the store usually happens on Tuesday or Wednesday for special items since the bulk of my shopping is already done.  Thanksgiving is a time for traditional family meals but I often like to include one or two new ones.

 

It’s the thrill of the hunt, and when I budget enough time on Sunday before Thanksgiving, it can be a satisfying experience that adds an extra element of fun.

 

2) Allow 3 to 4 days for a 20-pound turkey to thoroughly defrost in the refrigerator.

 

A spectacular meal doesn’t have to be assembled and cooked at the last minute. Some of my favorite recipes such as Southern Cornbread Dressing, Sweet Potato Casserole, Pumpkin Swirl Cheesecake, Pumpkin Pie with Autumn Leaf Border, and homemade cranberry sauce may be made ahead and chilled for a day or two.

 

3)  Rinse the turkey Thanksgiving morning, truss, and place it in the oven. Prepare remaining side dishes so everything is ready to pop into the oven or cook on the stove at the proper time.

 

4)   Carve the turkey, pour the wine, and enjoy.

 

Again, a little advance planning can be very helpful. Decide ahead of time which baking containers you will need and make sure they all fit in the oven at the same time. If not, you may need to adjust your menu or the containers to accommodate the oven space you have available. If your kitchen has a single oven, adjust your recipe selection to dishes that may be prepared on top of the stove, or that can be slipped into the oven during the final 30 minutes while the turkey is resting on the counter before carving. Then call your guests. Dinner is ready!

 

Also scan supermarket ads to take advantage of sales and special offer.   I hope these pointers are of help to you.

Turkey 2

Fall Proofing Your Home

How-To's, Senior Living, , ,

Simple Changes for Home Safety    Bathtub grab bar. - Click to enlarge in new window.      Man spreading sand on a snowy sidewalk. - Click to enlarge in new window.

Six out of every 10 falls happen at home, where we spend much of our time and tend to move around without thinking about our safety. Many falls could be prevented by making simple changes in your living areas, as well as personal and lifestyle changes.

 

Take steps to “fall proof” your home, both inside and outdoors. To make your home safer, you can:

  • remove or avoid safety hazards
  • improve lighting
  • install handrails and grab bars
  • move items to make them easier to reach.

 Tips to “Fall Proof” Your Home

An important step toward preventing falls at home is to remove anything that could cause you to trip or slip while walking. Tripping on clutter, small furniture, pet bowls, electrical or phone cords, or other things can cause you to fall. Slipping on rugs or slick floors can also cause falls.

 

Arrange furniture to give you plenty of room to walk freely. Also remove items from stairs, hallways, and pathways.

 

Be sure that carpets are secured to the floor and stairs. Remove throw rugs, use non-slip rugs, or attach rugs to the floor with double-sided tape.

 

Put non-slip strips on floors and steps. Put non-slip strips or a rubber mat on the floor of your bathtub or shower, as well. You can buy these items at a home center or hardware store.

 

At home and elsewhere, try to avoid wet floors and clean up spills right away. Use only non-skid wax on waxed floors at home.

 

Be careful when walking outdoors, and avoid going out alone on ice or snow. A simple slip on a slick sidewalk, a curb, or icy stairs could result in a serious injury.

 

During the winter, ask someone to spread sand or salt on icy surfaces. Be sure to wear boots with good traction if you must go out when it snows. Better yet, don’t take chances walking on icy or slippery surfaces.

 

Poor lighting — inside and outdoors — can increase your risk of falls. Make sure you have enough lighting in each room, at entrances, and on outdoor walkways. Use light bulbs that have the highest wattage recommended for the fixture.  Good lighting on stairways is especially important. Light switches at both the top and bottom of stairs can help.

 

Place a lamp within easy reach of your bed. Put night lights in the bathroom, hallways, bedroom, and kitchen. Also keep a flashlight by your bed in case the power is out and you need to get up.

 

Have handrails installed on both sides of stairs and walkways. If you must carry something while walking up or down stairs, hold the item in one hand and use the handrail with the other. When you’re carrying something, be sure you can see where your feet are stepping.

 

Properly placed grab bars in your tub and shower, and next to the toilet, can help you avoid falls, too. Have grab bars installed, and use them every time you get in and out of the tub or shower. Be sure the grab bars are securely attached to the wall.

 

You might find it helpful to rearrange often-used items in your home to make them more accessible. Store food boxes, cans, dishes, clothing, and other everyday items within easy reach. This simple change could prevent a fall that might come from standing on a stool to get to an item.

 

If you have fallen, your doctor might suggest that an occupational therapist, physical therapist, or nurse visit your home.  For more information see Senior Safety Tips

Quick and easy popover recipe

How-To's, Local Food, ,

 

 Rebecca’s Best Ever Popovers With Honey Butter   Popovers

 By Rebecca Good

 

Rebecca recently moved to Wyoming, Michigan from Florida.   She is a resident at Bayberry Farms Village Independent Living Center.

 

 

4 Tbsp. melted butter

Butter flavored pan spray

2 cups buttermilk

6 eggs at room temperature

2 cups flour

1 tsp. salt

Preheat oven to 450 degrees.

Prepare popover pan by spraying wells with non-stick butter spray.

Melt 4 Tbsp. unsalted butter and set aside.

In a large bowl, mix together 2 cups buttermilk, 1 Tbsp. melted unsalted butter, 6 eggs.

Add 2 cups of flour and 1 tsp. salt.

Put 1/2 tsp. melted butter in each popover well.

Fill each well to 2/3 full with popover mixture.

Place popover pan on the center rack of the oven.

Place a large cookie sheet on the rack below to catch any overflow.

Bake 20 minutes at 450 degrees.

After 20 minutes, reduce the oven temperature to 325 degrees.

Bake another 15 minutes.

DO NOT OPEN OVEN DURING THE 35 MINUTES OR THE POPOVERS WILL FALL!

It will be a temptation, but please do not open that door!

Remove them from the oven immediately.

Then, carefully remove them from the pan using a knife or fork — be careful they are very hot! – place on a cooling rack or plate to serve hot.

This is a single batch which makes 12 gorgeous popovers.

This recipe can be doubled or tripled.

 Honey Butter

 By Rebecca Good

1 stick softened butter

3Tbsp. honey (any kind)

Simply blend the two together then serve in a pretty bowl with your warm popovers.