XMWare

2018-04-03T12:01:00

(BPT) – With the Tax Cuts and Jobs Act of 2017 having been signed into law, here are some of the things you should be thinking about as tax season approaches, according to Robert Fishbein, vice president and corporate counsel, Prudential Financial Inc.

2017 tax returns

The new tax law is generally effective starting in 2018, which means that your 2017 income tax return is largely unaffected. However, there may be actions you can take now to benefit from the change. For example, assuming you are eligible, you could fund a traditional IRA before the due date of your tax return; the income exclusion may be more valuable under higher 2017 tax rates.

Lower tax rates and new withholding

The hallmark of the new tax law is lower marginal tax rates for individuals. The IRS has issued withholding tables employers started using in February to reflect these lower rates. While this could mean lower tax withholding and more take-home pay, you should evaluate your personal income tax position to determine if you will pay more or less under the new law and adjust your withholding accordingly.

If you make estimated tax payments, you should also estimate your tax liability under the new tax law and make necessary adjustments to your quarterly tax payments.

Assuming your withholding or estimated tax payments need no adjustment may create an unpleasant surprise if you are under-withheld and owe penalty tax and interest when you file your 2018 income tax return.

Higher standard deduction

The new higher standard deduction of $12,000 for individuals and $24,000 for married couples will greatly reduce the number of taxpayers that itemize deductions. If you did not itemize in 2016, and your tax position is similar now, you will probably not itemize in 2017. The increased standard deduction, combined with lower marginal rates, may mean your tax liability will go down.

If you itemized in 2016, compare your total itemized amount to the new standard deduction. If less, and assuming a similar tax position in 2017, you will likely no longer need to itemize.

For many, this provision will turn out to be the greatest simplification aspect of the new tax law, since they no longer must track itemized deductions or complete multiple associated forms.

No personal exemptions

Some taxpayers will need to look more closely to determine if they will pay less or even more. The new law eliminates personal exemptions and reduces deductible items, such as limiting the total deduction for state and local income taxes to $10,000, reducing the amount of deductible mortgage interest and eliminating the deduction for interest paid on a home equity line of credit. Therefore, if you itemized deductions in 2017 and your deductions were greater than the applicable standard deduction, you will have to consider what deductions are available in 2018 and estimate your tax liability.

In states with higher income taxes and property taxes, it is possible that the loss of itemized deductions will be greater than the benefit of lower rates and your tax liability could increase.

Increased child and dependent credits

The new law increases the child tax credit for children under 17 to $2,000. The income limits to phase out the credit are also significantly increased so more taxpayers will be eligible. In addition, there is a $500 credit for other qualifying dependents. Depending on your tax bracket, this could be better or worse than getting an exemption for each dependent.

Increased AMT exemption

Adding one more layer of complexity to your 2018 planning is the new tax law’s modification of the Alternative Minimum Tax or AMT. The AMT is a parallel tax system that requires you to calculate your income tax under the normal rules and then again under AMT rules, paying the higher of the two. The new tax law increases the AMT exemption, or the amount you can earn and not be subject to this alternative tax. If you have been subject to AMT in the past, you should review the new increased exemption and whether that will change.

The bottom line

The bottom line for most is whether they will pay more or less income tax in 2018 than in 2017. While it is likely many will pay less, you need to consider all the above before you know how you will be impacted by the new tax law.

Please consult your legal or tax advisor concerning your particular circumstances. The Prudential Insurance Company of America, Newark NJ and its affiliates.

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2018-04-05T08:01:00

(BPT) – Everybody loves brunch, but without the bubbly, it’s just breakfast. Add a festive cocktail to the mix, and suddenly you’ve got a celebration.

The next time you’re cooking up a weekend morning meal, be it a brunch-in-bed with that sweet someone or a noon-ish feast for friends, add authentic Italian flair to your crafty cocktails with Riondo Prosecco Spago Nero Frizzante, the number one Prosecco in Italy.

This vino frizzante, with scents of apples, pears and acacia berries, is as soft on your pocketbook as it is on your palate, making it easy to bubble up your brunch in style. Prosecco is definitely the bubbly on trend right now, gaining popularity as an approachable, affordable cousin of champagne. Here are five killer ways to use Riondo Prosecco to put the punch back in your brunch.

Italian Mimosa

Orange juice and bubbly is a little passe. Mix it up with this delicious Italian twist on an old favorite.

2 Oz. Orange Vodka

4 Oz. Blood Orange Juice

6 Oz. Riondo Prosecco

Mix the first two ingredients and divide among two flutes. Top each with Prosecco and garnish with a blood orange.

(Serves two.)

Blush Crush

Welcome the rum renaissance with this perfectly refreshing cocktail.

2 Oz. White Rum

2 Oz. Fresh Lime Juice

2 Oz. Simple Syrup

6 Chunks Fresh Watermelon

10 Fresh Mint Leaves

Riondo Prosecco (enough to fill glass just below the rim)

In two tall glasses, muddle lime, simple syrup and watermelon. Add ice, rum and Prosecco. Stir. Garnish with mint.

(Serves two.)

Veranda Mojito Fizz

This Italian take on a Cuban classic is perfect for a patio brunch party.

2/3 Cup Blueberries

12 Mint Leaves

2 Tablespoons Sugar in The Raw

4 Oz. Light Rum

5 Tablespoons Lime Juice

2 Oz. Riondo Prosecco

Divide blueberries, mint, sugar and lime juice into two tall glasses. Muddle until blueberries are smashed. Fill the glasses with ice and add the rum. Stir slightly. Top with Prosecco and garnish with blueberries and a mint sprig.

(Serves two.)

Venetian Mule

This cocktail is a fresh spin on the famous Moscow Mule, which, legend has it, was created in New York in the 1940s.

1 Lime

4 Oz. Vodka

1 Oz. Ginger Liqueur

Prosecco (enough to fill glass just below the rim)

Ice

In two chilled copper mugs, squeeze the lime over ice. Add the vodka, the ginger liqueur and finish with Prosecco. Garnish with a slice of lime.

(Serves two.)

La Vita Margarita

Take the classic to the next level with refreshing Italian bubbles!

3 Oz. Tequila

2 Oz. Lime Juice

2 Tablespoons Agave Nectar

Salt (optional)

Prosecco (enough to fill glass just below the rim)

Shake the first three ingredients with ice. Strain into two glasses rimmed with salt if you desire. Top with Prosecco and garnish with a lime wedge.

(Serves two.)

Adding these festive Prosecco cocktails to your weekend menu will make yours the most sought-after brunch invitation in town. And if you’re not in the mood to host, consider the following hot spots across the U.S. best known for their brunch pours: https://vinepair.com/articles/10-best-brunch-programs-nationwide-2017/.

Saluti!

2018-04-05T10:53:00

(BPT) – Spring is in full bloom, but are your plants keeping pace? If the answer is anything but a resounding yes, don’t worry. There’s still plenty of time to get into the spirit of the season and grow your most beautiful bed of flowers.

“There’s nothing like the start of the season,” says Emily Murphy of Pass the Pistil blog. “I love planning my space, buying seeds and starts, and making sure I have the right tools to make the gardening season a success. Before I start any project, I do a quick inventory to be sure I have everything I need, like my circular sprinkler. It makes customizing water coverage easy, with shape control collars that move to mirror the area you want to water, which is a real lifesaver throughout the season.”

A lush bed of flowers or a row of beautiful plants is an instant focal point in any outdoor space. To help create a flourishing bed that everyone will notice, follow these easy tips.

* Plant based on your zone. Not all flowers succeed in the same weather conditions, which makes planting based on what grows best in your geographical area crucial. Use this planting map as a great tool to learn more about what to plant based on your zone. For example, geraniums thrive best in zones that have mild winters and hot summers, like Zone 10. If you live in Zone 1, look for a drought-tolerant and tremendously cold hardy plant, like sunflowers.

* Preparing the soil. Each plant has different soil requirements. If you’re looking to complement your garden with vegetables like artichokes, you should be sure the soil crumbles and doesn’t clump together when squeezed in your hand. If you wish to plant chrysanthemums, well-draining soil with consistent moisture is essential. In both cases, regular watering helps bring your soil to the right consistency. The Gilmour Thumb Control Watering Nozzle with Swivel Connect offers eight spray patterns that let you water individual plants — or their bases — perfectly with a swivel connection to reduce hose twisting and kinking.

* Plant properly. Similar to zone and soil, the depth and spacing of the holes you dig also vary per plant. Hydrangeas, for example, should be planted in a hole that is two feet wider than their root ball and shallow enough so that it sits slightly above the ground. This way, once filled in, water will drain away from the plant. On the opposite end of the spectrum, lettuce seeds can be planted in a much smaller space, roughly one quarter to one half inch deep in the soil. Thin leaf lettuce seeds can be planted four inches apart, while romaine lettuce seeds should be planted six to eight inches apart. Following the guidelines for each type of plant is the best way for them to get a healthy start to the season.

* Apply the right amount of water. Water is essential for growth of both plants and herbs, but the proper quantity varies drastically depending on what you’re growing. For tender herbs like basil, dill and cilantro, use plenty of water, about 1-2 inches per week. For hardy herbs like rosemary, thyme and mint, be sure to let the soil dry out between watering. To navigate around plants smoothly, use a Flexogen Hose. It’s durable and kink-resistant, so you can weave throughout the garden with ease.

Get started in your garden today

Successfully growing spring plants requires a strategy as diverse as the plants themselves, so it’s important to learn as much as you can about each plant before diving in. For more helpful gardening tips and information, visit Gilmour.com.

2018-04-09T10:09:00

(BPT) – Whether you’re a millennial looking to buy your first home or a boomer thinking about downsizing your empty nest, you’re probably aware that it’s a seller’s market out there.

Homes are selling at lightning speed, bidding wars are commonplace, buyers often have little to no room for negotiation and the price of those homes keeps rising.

But don’t worry! Just because it’s a seller’s market doesn’t mean you can’t get a good deal on the home of your dreams. Here are some insider tips and tactics from the pros at RE/MAX, LLC to help you get your slice of the American dream at a price you can afford.

Work with a full-time, experienced agent. This is critical, vital and non-negotiable. Things move so fast and offers are made within minutes of seeing a home. If you don’t have a real estate agent, you can easily be overwhelmed by this thrill ride. Your agent can help you with negotiation, serve as your champion, and can guide you through this process as a pro.

Get pre-approved with a lender. When you’re pre-approved, you’ve done all the paperwork upfront. The bank has decided what you can afford to spend. This tells the seller you mean business and are ready to roll.

Use technology. If you aren’t using technology, you are missing out. Hop on remax.com and view homes within your price range or in your desired school zone or neighborhood. You can also get a sense of what’s selling at your budget, and even calculate your estimated mortgage payment.

Don’t wait to request a showing. If you’re checking out houses online, ask your agent to request a showing as soon as you see one you like. Don’t wait until the weekend. You know what they say about he who hesitates …

Don’t wait to make an offer. If you like it, jump on it. Make your offer clean (no contingencies such as the sale of another property), if possible, and consider offering favorable concessions to the seller such as a flexible closing date.

Think outside the box. You might have come into your home search wanting to live in a specific neighborhood. What if you expanded your horizons a bit? Cast your net wider into areas you hadn’t considered. A lovely gem might be waiting out there for you.

Don’t make a major purchase between offer and closing. If you do, it could upset your debt-to-income ratio. Your lender could run the numbers again, and you’d be sunk. Hold off buying furniture or ordering new appliances until after closing documents have been signed and the place is yours.

Following the advice of your agent is always critical, but it’s even more important in a seller’s market. He or she will guide you through the process, and you’ll be unpacking boxes in your dream home in no time!

2018-04-10T10:33:00

(BPT) – The warm, summery weather is a golden opportunity to take your get-together outside. Whatever the occasion, take advantage of the sun and extra space, and let these tips help you plan and get your outdoor space ready for your guests.

1. Cluster the conversation spots

When planning your backyard layout, think beyond the patio table, and provide more than enough seating for all. Arrange sofas and chairs into conversation clusters to keep people outside and enjoying each other’s company. It’s also a good idea to provide coffee tables, side tables and other spaces where people can set their drinks and snacks. Don’t be afraid to borrow pieces from a friend or neighbor to make the party set complete.

2. Don’t forget the right lighting

Consider the time of day of your gathering and what that means for your lighting situation. Intense late-day sun glare is unpleasant for all, but a few strategically placed patio plants can make a huge difference (and make the space feel more intimate). For the post-sundown festivities, light up the party zone with holiday lights by stringing them along deck rails, or zig-zagging them overhead. Add a fire pit, and if it’s chilly, keep an extra stash of throw blankets and jackets and you’ll have a cozy, well-lit space for those late-night talks.

3. Keep flying invaders at bay

No one likes it when uninvited guests like flying, biting insects show up. Bottles of insect repellent in a conspicuous place are a good bet on buggy nights, but keep these (and the spraying area) well away from the food. For a chemical-free alternative, setting out a fan or two on a low setting can stir up enough of a breeze to keep the pests away.

4. Get your game on

For the ultimate crowd mixer and crowd pleaser, keep a few fun and easy yard games on hand. Dust off the old bocce ball set. Or, with a few simple materials from your local hardware store, you can create and customize DIY versions of your favorites, including bean-bag toss, ring toss or even target shooting with water guns.

5. Keep the snacks simple and stress free

The secret to a good party is not stressing over every detail of the décor and the same goes for the food. An array of delicious but simple snacks are more than enough to get the party started. Soft pretzels are always a party favorite, but did you know that most people — 69 percent of them, to be exact — prefer to eat their soft pretzels dipped? Another 28 percent prefer cheese toppings above all the others. For the perfect snack to spice up the festivities, include a batch of Superpretzel Parmesan Garlic Bites or Superpretzel Everything Pretzel Bites (see recipes below).

Parmesan Garlic Bites

Ingredients:

9-12 Superpretzel Soft Pretzel Bites

1/2 cup of extra virgin olive oil

2 tablespoons wet minced garlic

2 tablespoons dry parsley

2 tablespoons pretzel salt

1/4 cup of Parmesan cheese

Directions:

In a bowl, combine the extra virgin olive oil, garlic, pretzel salt, parsley and cheese and set aside.

Deep fry the pretzel bites in your favorite cooking oil at 360 degrees F for about 2 minutes.

When done, dredge the pretzel bites into the oil and cheese mixture.

Serve with your favorite dipping sauce.

Everything Pretzel Bites

Ingredients:

20 Superpretzel Soft Pretzel Bites

Everything bagel seasoning

Melted butter

Optional: whipped cream cheese (for dipping)

Directions:

Prepare soft pretzel bites according to instructions on the box.

Lightly coat soft pretzel bites with melted butter.

Season soft pretzel bites with everything bagel seasoning and soft pretzel salt.

Bake in 350 degree F oven until golden brown.

Serve with whipped cream cheese.

2018-04-10T17:13:00

(BPT) – Soybean farmers in Minnesota have been at the forefront of developing a homegrown renewable fuel that has resulted in a dramatic improvement of the air quality in the state.

Biodiesel has become an important part of the energy landscape in Minnesota and across the country. In just over 15 years, the biodiesel market in the U.S. has increased from about 25 million gallons to more than 2.8 billion gallons. Biodiesel is a value-added by-product made from domestic, renewable resources such as soybean oil. After the oil is extracted from soybeans, all subsequent protein is used for human and livestock consumption, leaving nothing to waste.

According to the Bureau of Transportation Statistics, diesel-powered cars accounted for only about 3 percent of total U.S. auto sales in 2014. You may be scratching your head and saying, “I don’t drive a diesel vehicle. Why should I care?”

According to the Diesel Technology Forum, more than 95 percent of large, heavy-duty trucks are diesel-powered, as are most medium-duty trucks. Together, they move more than 90 percent of the nation’s freight. And don’t forget public transit, school buses and construction equipment. Things we all encounter every day.

Here are just some of the reasons biodiesel matters:

Reducing emissions

And while you may think these trucks’ massive diesel engines are an unfortunate but necessary aspect of commerce and expansion, think again.

According to the American Lung Association of Minnesota (ALAMN), during the 10-year period with biodiesel as a fuel standard for Minnesota, a reduction of more than 7.4 billion pounds of carbon dioxide has already been realized. ALAMN estimates that is comparable to removing the emissions from 706,649 passenger vehicles or 17,998 railcars of coal.

Biodiesel’s ability to reduce greenhouse gas emissions by more than 50 percent is why the Environmental Protection Agency recognizes it as the only advanced biofuel.

Revitalizing rural communities

According to the Minnesota Department of Agriculture, the biodiesel industry contributes $1.7 billion annually in the state, while supporting 5,397 jobs. Nationwide, there are approximately 200 biodiesel plants, providing nearly 48,000 jobs. These are often hard-hit areas where employment options are few. Leaving for “greener pastures” is no longer the only option.

“Biodiesel is another step in increasing the diversity of our energy needs,” says Tom Slunecka, CEO, Minnesota Soybean Research and Promotion Council. “Minnesota soybean farmers are proud to be leaders in growing that diversity.”

In 2002, Minnesota became the first state to require that all diesel fuel sold contain at least 2 percent blend of biodiesel. In summer 2018, Minnesota will be the first to move to B20, a blend of 20 percent biodiesel and 80 percent petroleum diesel.

The benefits of biodiesel are considerable, not just for Minnesota, but for the country as a whole.

To learn more, visit www.mnsoybean.org.