Related Posts Movies are filled with big, bright 3D holographic images. Whether it is Tom Cruise manipulating items out of thin air in Minority Report or Robert Downey Jr. going all mad scientist in Iron Man, 3D images have little real-world equivalent.We can dream though.Holographic and more advanced volumetric displays are just but a twinkle in scientists’ eyes. True 3D projections for commercial or industrial uses is still years away. (The “Futurist’s Cheatsheet” series surveys technologies on the horizon: their promise, how likely they are, and when they might become part of our daily lives. This article is Part 4.)What Is It?You remember in Star Wars Episode IV – A New Hope when Leia sent a message to Obi-Wan through R2-D2? The little picture of Leia imploring, “help me Obi-Wan, you’re my only hope.” That was a holographic display. Taking holographic displays further, there is also the notion of volumetric displays that create a life-like 3D object. According to 2002 research done by Actuality Systems, “volumetric displays create imagery that appears to float in a volume.” The image can be seen from a variety of angles without screens or goggles. How It WorksThere are two ways that volumetric displays can be created: swept-volume display and static-volume display. Swept-volume displays use the persistence of vision to create volumetric images from “rapidly projected 2D ‘slices,’” according to Gartner’s description of in the 2012 Hype Cycle report. This can be done by projecting images onto rotating mirrors within an enclosure. Static-volume displays use “voxels” (the volumetric equivalent of pixels) to create 3D images. Potential ImpactA holographic display would allow you to talk with a representation of a person through a communicator terminal, like the small disk that Darth Vader used to communicate with Emperor Palpatine. A volumetric display could go further, showing a person that looks real but is instead only a visual representation. In the short term, there is little practical application for these technologies. The advantages of a high-definition volumetric display (HDVD) could be applied to a variety of industries. Drug creation, medical imaging, oil exploration, mathematical analysis, airport security and product design could all benefit. ChallengesVolumetric displays are expensive and difficult to produce and are barely beyond research phases. Holographic displays are a little more common, such as in retail environments. Perhaps the most impressive commercially produced holograph is Hatsune Miku, a complete holographic Japanese pop star that performs live on stage. Much of the challenge involved is finding a business model that supports the technology. In relation to our current technology (we are just getting used to FaceTime), there is as yet little need for holographic or volumetric displays.Holographic and volumetric displays require a lot of computing power and moving parts, which could make systems unstable. “The use of holographic techniques is, by far, the most advanced, but due to the intensive computing calculations required to generate the holographic image, the cost of generating the display image is one of the hurdles toward real-life adoption,” wrote Gartner’s Stephen Prentice. When Will It Be Ready?Very simple volumetric displays have been prototyped, and there are basic holographic technologies in use. But the full vision of the technology is much further over the horizon, perhaps 20 to 30 years.While some commercial uses of holographic technology will be seen sooner than later, the true depth of volumetric displays will take a lot of time to develop and make commercially viable. The advantages of 3D displays, such as visualizing large data sets will eventually be a significant way in which research is conducted. It is cool to think of, but you will not be talking to your mother via hologram any time soon.Additional InformationActuality Systems (2002): 100 Million-Voxel Volumetric Display (PDF)Stereoscopic Displays and Applications (2003): A Static Volume 3D-Laser Display (PDF)Spie.org: Volumetric 3D display provides true perception of objects Tags:#Features#Future Tech#web dan rowinski A Web Developer’s New Best Friend is the AI Wai… Top Reasons to Go With Managed WordPress Hosting Why Tech Companies Need Simpler Terms of Servic… 8 Best WordPress Hosting Solutions on the Market read more
Will Development Eventually Make Itself Obsolete? How OKR’s Completely Transformed Our Culture Believe it or not, not every startup founder today is building their company just to cash out with a big exit. Some entrepreneurs are actually in it for the long haul.But which metrics actually inform these founders’ long-term vision – what keeps the lights on and keeps them personally committed, for years at a time, to their current ventures. We asked eight entrepreneurs from the Young Entrepreneur Council (YEC) to share the yardsticks they use to measure their success. 1. A Little Something Called ProfitBuilding your company ‘to sell’ is like playing Russian roulette. The fate of your company’s success or failure is up to chance, not you. There is, however, this other metric for success that some of the tech community seem to forget about – it’s this little thing called profits. I’ve been in meetings with companies using terms like user acquisition, use cases and engagement to define success or failure, but if they aren’t supported by profits, then there really isn’t a point. Focus on making money and regardless of whether your company gets sold or not, at least you’ll have one. – Liam Martin, Staff.com 2. Company StabilityReal Bullets Branding is a service-based agency that I started because I wanted to build a company that I actually wanted to work at, not sell. Our first goals were around creating processes within the company that allowed us to develop products and services that made clients happy and didn’t cost us too much time and resources to produce. Our next goals, and one we always continue to work on, is company stability. Anytime we grow, take on new employees or new costs, it’s important to keep our incoming and outgoing finances stable. The more stable we are, the more we can focus on innovative new products and creative ideas. – Caitlin McCabe, Real Bullets Branding 3. The Best Seat In The HouseChances are, if you’ve built a successful company, you have given yourself the opportunity to sit in any seat you want. I personally love creating relationships with new clients and having my trusted team provide them with top-notch custom Excel, Office and database applications. If my staff and business processes are correctly implemented, the company will run like a well-oiled machine, and I can sell indefinitely. Waking up every morning excited to do the job I created for myself? That to me is the ultimate success. – Russell Kommer, ExcelHelp.com 4. A Lasting LegacyIn order to sell a business, it has to successfully survive once you leave – but a business that isn’t built to sell can accomplish the same outcome. Instead of viewing my company, She’s Got Systems, as a business I will run until death or retirement, we’re building the structure to incorporate more teachers, coaches and a support team that will eventually make my involvement redundant. Instead of selling the business and moving on to the next, you can continue to contribute to a business built to last and enjoy recurring revenues for many more years. It’s our goal to continue serving and growing with our clients for decades to come. The success factor is how well we can do that sustainably. – Kelly Azevedo, She’s Got Systems 5. Knowledge And BusinessWe believe that knowledge transforms lives and that capitalism is the greatest tool for social change. So we help businesses see and understand their numbers in order to grow and, in turn, make the world a better place. As such, we measure our success by the number of businesses that we’ve helped grow, improve and succeed in what they set out to do. Our big hairy audacious goal (BHAG) is to contribute to 10% of the Inc. 500 Fastest Growing Companies list. That’s delivering knowledge to 500 companies that get something to show for the result. How’s that for a metric? – W. Michael Hsu, DeepSky 6. ClientsWhile revenue, profit and deal flow are easy metrics to “measure success,” as a service provider, the number of satisfied clients is the ultimate indicator of how my company is performing. Every new client is an opportunity and every successful transaction is a real win. While the first project we work together on may not be a $1 million financing, every entrepreneur who walks through my door becomes a partner going forward – their success is my success and vice versa. – Peter Minton, Minton Law Group, P.C. 7. The Three Pillars: People, Planet And ProfitEven if you’re building to sell, triple bottom lines are one of the best ways to measure success. The three pillars of people, planet, and profit should be at the forefront of any CEO’s analytics. The Global Reporting Initiative and the Institute for Sustainability have developed methods for companies to measure these seemingly qualitative statistics. Even if you don’t get analytical about them, think, “Is my company making the world, and the people around us, better?” If so, you’ve found success. – Matt Wilson, Under30Media 8. Repeat BusinessCompanies like ours that are not looking to sell must focus on building a strong brand and a strong channel. It is very easy to buy customers – paying for ads until they show up and severe discounting are two methods. In building for the long haul, we think that a key goal is to continue to achieve a high percentage of our sales from returning customers. Second, third and subsequent purchases occur only if the customer believes in the value that you provide. Having a steady dose of returning customers allows you to experiment and build your brand for the long run. – Aaron Schwartz, Modify Watches Tips for Selling Smart Supply Chain Solutions Related Posts scott gerber End-of-Life Software: Keep it, Update it, or Fi… read more
Growing Phone Scams: 5 Tips To Avoid How to Write a Welcome Email to New Employees? When everybody has access to the same Internet, obscurity no longer exists. Not even when it comes to a certain hard-to-understand cryptocurrency. First Congress began looking into Bitcoin regulation. Then a federal judge ruled Bitcoin was actual money, deserving of regulation under U.S. law. Now in the most overt example of government interest in the currency, the New York Department of Financial Services has subpoenaed 22 companies that have Bitcoin involvement with an eye towards such regulation. See also What’s Bitcoin Worth In The Real World? “If virtual currencies remain a virtual Wild West for narcotraffickers and other criminals, that would not only threaten our country’s national security, but also the very existence of the virtual currency industry as a legitimate business enterprise,” NYDFS superintendent Benjamin Lawsky said in a memo.Bitcoin has earned a reputation of being impossible to trace, giving it appeal to those who would use it to fund illegal activity. (Though it’s important to note that a member of Bitcoin’s core development team has vehemently denied this.) It’s no wonder that the NYDFS suspects it of being a “Wild West for… criminals.” Whatever the real breakdown of Bitcoin use actually is, its reputation has already convinced Thailand to deem it illegal.In the same memo, Lawsky said that DFS regulation would be beneficial for Bitcoin customers, too, by “putting in place appropriate regulatory safeguards for virtual currencies will be beneficial to the long-term strength of the virtual currency industry.” It remains to be seen whether Bitcoin users will agree with him.The 22 companies subpoenaed read like a who’s who of Bitcoin players. They include major investors like the Winklevoss twins, Bitcoin mining equipment maker Butterfly Labs and even Google Ventures. Jaron Lukasiewicz, an executive at the subpoenaed company Coinsetter, sees this investigation as an opportunity.“[The regulators will] quickly find that most companies are working to legitimize Bitcoin and want to build bridges that help regulators understand and support these financial innovations,” Lukasiewicz told the Wall Street Journal. As Bitcoin’s popularity steadily increases, more and more government bodies will seek to regulate it. New York’s efforts come in the wake of at least one cease-and-desist from the state of California. Even if Bitcoin’s proponents insist that illegal activity is uncommon through the currency, it’s impossible for regulating bodies to tell for sure without, well, regulating it. On the upside, regulation could lead to a wider understanding of Bitcoin, by world governments and citizens alike. As a result, this could result in an even bigger surge in popularity for Bitcoin.Photo by zcopley on Flickr. lauren orsini Related Posts 7 Types of Video that will Make a Massive Impac… Tags:#bitcoin#Government#regulation Why You Love Online Quizzes read more
By Carol ChurchIn part 1 of this series, we reviewed why credit scores are so important, talked about their special significance to service members, and discussed the basics of what a “good score” is and how scores are determined. In Parts 2 and 3, we’ll get more into the nitty-gritty of fixing a lower score and keeping a high one high.Ivelin Radkov/PhotospinDO pay bills on timeThis is obvious, of course, but it also can be very easy to mess up. Payment history accounts for 35% of a FICO credit score—the biggest chunk—so it’s very important. For those who have the money but just have problems remembering to pay on time, technology can be a huge help here; you can set up autopay, put reminders on your phone or calendar, or have creditors email or text reminders. If it’s easier, you can change your credit card payment date to the first or last of the month. Your recent payments are what are most crucial, so even if “mistakes were made,” get things into order now.If finding the money is a concern, then the problem is a bigger one, but there are still solutions. The important thing is to set up a plan. Customers can work independently with their creditors to negotiate the terms of their debt and get a better deal on interest rates. They can also contact a credit counseling agency that employs certified credit counselors.Don’t forget about the Servicemembers’ Civil Relief Act, which caps interest rates on active duty members at 6% when invoked. This important legal protection can really help members of the military get debt under control.DO maintain a mix of types of creditThis account for 10% of a credit score. FICO is looking for a mixture of secured and unsecured loans—basically, a combination of credit cards, student loans, mortgages, and car loans. This can be a little difficult to change or improve, but some experts say it may not be a bad idea for loan shoppers with a poor “mix” to diversify– well before they apply for the loan they really want.DO use credit…responsiblySome people tend to think that their best bet is actually to avoid using credit at all, assuming that this will make them look responsible. But creditors want to know that people can handle responsibility, so it’s best to have lines of credit, use them, and pay them on time. Secured credit cards (where you put a deposit on the card) can be a good way to build a credit history if it’s not possible to get an unsecured card. Another option for building credit is to be added as an authorized user to another person’s account, meaning that you have the right to use his or her credit card. Obviously, this requires great trust on the cardholder’s part,DO settle any old past due accountsAgain, this should be obvious. But if any old balances from closed accounts are lingering out there, even if it’s $10 that went to collections from unpaid library fines, this needs to be taken care of. Even an unpaid parking ticket can cause a problem. Issues like these stay on a credit card report for 7-10 years.DO hold on to accounts you’ve had for a while15% of a FICO credit score is based on the length of a person’s credit history. Creditors want to see that an applicant has been able to hold and maintain lines of credit for years without significant problems, so it’s a good idea to hold onto that card you’ve had for decades, even if it doesn’t get much use.DO watch your credit utilization ratioNot many people are familiar with this term, which simply refers to the percent of your credit limit that you are currently using. However, it’s actually very important, accounting for 30% of a FICO score.For instance, if a consumer has two cards, each with a $5000 limit, and currently owes $1,000, his or her credit utilization is 10%. Experts recommend keeping credit utilization below 30%, and 10% is even better.But it’s a bit tricky, because the ratio can be high at some points even if a consumer pays off cards every month. (For instance, if a consumer charged $2,000 on each card one month, depending on when credit is checked, he or she might show up as being at 40%.) This is one reason why it can be good to have cards with high limits, if the limit is not abused.If this is a concern when applying for credit, it’s possible to pay off a high balance early or pay twice a month. It’s even possible to call card issuers, find out exactly when they report balances, and readjust your payment date so that your balance will be reported when it’s pretty low. Or, if all this seems too complicated, simply don’t apply for a major loan in a month when cards have a lot of high charges.DO check the credit reportWhile a credit report and a credit score are not the same thing, checking one’s credit score ensures that nothing on it is duplicated, inaccurate, or out of date, and should be done at least once a year (the service is free from annualcreditreport.com). Remember, service members run an increased risk of identity theft, so this is especially important for this group! (Members can reduce their risk of fraud by putting an active duty alert on credit cards when serving overseas.) If there’s a mistake, it can and should be disputed with the three credit bureaus (Equifax, Experian and TransUnion).DO restrict “loan” shopping to a limited windowIt can affect credit negatively if too many people are checking it too often, so when shopping for a loan (such as for a house or car), consumers should do so within a limited window of 30 days. When credit checks are clustered close together like this, it only “counts” as one credit pull, and doesn’t impact a credit score much at all.For what it’s worth, checking one’s own credit score is what’s called a “soft” credit pull, and doesn’t have the same effect. However, it’s also worth knowing that credit checks may be done by sources we don’t expect, such as cell phone service providers and banks where we open accounts. If you’re not sure if a credit check might be done during a minor transaction, ask. It may be possible to skip it or do a “soft” check instead.DO start rebuilding credit well before shopping for a major loanMany hope for a “quick fix” when trying to repair their credit, but in many cases, the cure for credit problems requires a hefty dose of both responsibility and time. Planning ahead will allow borrowers to get their ducks in a row as far as fixing any credit report problems, getting payments current, figuring out utilization ratios, and so on. If a consumer can handle sitting tight for a while, the score will likely go up, saving money over the long term.In part 3 of this series, we’ll talk about the “don’ts” of boosting a credit score…stay tuned. read more
Return to article. Long Descriptionmohamed_hassan/Pixabay.com, CC0Investment Characteristics- Different investments have different strengths. Common stock rates high for potential growth, bonds and preferred stock for income, and government bonds for safety.Historical Returns– Stocks have historically outperformed bonds and cash equivalent securities over the long term. From 1926 to 2017, the compound annual return of different types of assets was as follows: small company stocks: 12.1%, large company stocks: 10.2%, government bonds: 5.5%, and Treasury bills: 3.4%.Loanership Versus Ownership– With loanership investments, such as corporate and government bonds, investors lend money to a company or government entity (e.g., city, county, or state). Investors receive a pre-set interest rate and the promise of a return of their principal. With ownership assets (e.g., stock and real estate), investors purchase all or part of an asset. Investment returns and asset values fluctuate.Real Rate of Return- To achieve long-term investment growth, investors must earn a higher after-tax return on all of their investments, combined, than inflation. Otherwise, they are losing purchasing power.Asset Allocation- Asset allocation is the weighting of various types of assets in an investor’s portfolio. For example, 50% stock, 30% bonds, and 20% cash. Investors need to periodically rebalance their portfolio to maintain its original asset allocation weights. Rebalancing can be done by selling securities in an overweighted asset (e.g., stock growth after a bull market) and/or putting new investment deposits in an underweighted asset (e.g., bonds and cash assets after a bull market).Taxable Equivalent Yield Formula– This formula is used to compare the return on tax-exempt and taxable bonds. The taxable equivalent yield is calculated by dividing the tax-exempt yield (e.g., the return on municipal bonds) by 1 minus an investor’s marginal tax bracket. For example, the taxable equivalent yield of a 4% municipal bond for an investor in the 22% marginal tax bracket is .04 ÷ 1- .22 (.78) = 5.12%.Dollar-Cost Averaging- This is the practice of investing regular amounts at regular time intervals, such as $100 on the 5th day of every month. Many investors practice dollar-cost averaging automatically through deposits into their employer retirement savings plan or a mutual fund automatic investment plan.Rule of 72- This mathematical calculation tells how long it will take, or what interest rate is required, to double a sum of money. To solve for the time period, divide a known or assumed interest rate into 72. To solve for the interest rate, divide the desired time frame to double your money into 72.Investment Record-Keeping- Keep tax returns for up to six years after filing and retirement plan records (e.g., deposits, loans, rollovers, and beneficiary designations) for as long as these accounts are open. Also, save annual account statements from mutual funds and brokerage firms and records of investment sales.For additional information about the basics of investing, review the free Cooperative Extension online basic investing course, Investing for Your Future and the following Military Families Learning Network webinars:Investing Basics and Beyond: https://militaryfamilieslearningnetwork.org/event/27264/Investing With Small Dollar Amounts: https://militaryfamilieslearningnetwork.org/event/29074/Investing for Your Future Part 1: https://militaryfamilieslearningnetwork.org/event/30783/Investing for Your Future Part 2: https://militaryfamilieslearningnetwork.org/event/30781/Wealth-Building With Savings, Investments, and Windfalls: https://militaryfamilieslearningnetwork.org/event/28146/ By Barbara O’Neill, Ph.D., CFP®, Rutgers Cooperative Extension, boneill@njaes.rutgers.eduIn a prior post, five key action steps related to investing were presented: Address the prerequisites, Set SMART investment goals, Understand risk-reward relationships, Understand and accept specific investment risks, and Assess your risk tolerance. This blog post continues the conversation about investing with nine more concepts that investors need to know: https://pixabay.com/illustrations/invest-money-growing-plan-business-3965215/ read more
In this week’s Friday Field Notes, we will explore how the Military Families Learning Network’s 2019 Virtual Conference, Relationships for Readiness, can help military family service providers support Total Force Fitness.The 2019 Virtual Conference will focus on the Department of Defense Family Readiness System, a network that supports military family readiness and quality of life. Similar to Total Force Fitness, the Family Readiness System emphasizes meeting military families’ needs in all domains of wellness and achieves this goal by working across disciplines through a networked approach. Working within the Family Readiness System helps support Total Force Fitness by ensuring that all service providers can assist military families with getting the support they need in each Total Force Fitness domain.Virtual Conference SessionsThe Family Readiness System and You. The opening session of the virtual conference (VC) offers an introduction to the Family Readiness System. After an overview of the Family Readiness System, participants will have the opportunity to ask panelists – including Community Capacity Building team leader Dr. Keith Tidball – about their experiences with the Family Readiness System.What do Networks Mean for My Work? Networks are key to working effectively in the Family Readiness System and supporting Total Force Fitness. Kristen Johnstad starts the discussion on networks in the second session by giving a general overview of professional networks and their benefits. This session will relate directly to the Social Fitness domain of Total Force Fitness. Social fitness involves building and maintaining healthy relationships with others. It also plays a role in supporting optimal performance and resilience. Social fitness is multi-dimensional and includes not only friends and family, but also recreation, religion and hobbies, as well as bosses and peers. Social activity can help relieve stress, build connections with others, and ease the strain of missing family and friends.Creative Visual Language for Insight and Problem Solving. Sunni Brown will introduce “infodoodling” in the third session as a way to help individuals be more creative in problem solving and communicating effectively. VC participants will have an opportunity throughout the conference to practice these skills using the Idea Catcher. Building the skill to think creatively and communicate effectively across disciplines can help service providers support Total Force Fitness across multiple domains, especially Psychological Fitness.Collaboration Across Boundaries. Collaborating across disciplines and departments is important when supporting families across multiple domains of Total Force Fitness. Building upon community resources in which Military Service Members and their family members reside is ultimately a collaborative and participatory process involving both military and civilian stakeholders. In the fourth session of the VC, Russ Linden will discuss ways to improve collaboration across agencies and departments to support military families.Holistic Financial Health for Human Services. As mentioned in our Total Force Fitness and MFLN’s Personal Finance team blog post, while finances are not a domain of total force fitness, financial health can impact all areas of Total Force Fitness. In the fifth session of the VC, Shawn Young will lead a discussion in how financial health is associated with overall well-being.Create a Network That Works. In the second session lead by Kristen Johnstad, participants will continue to discuss best practices for building professional networks and engage in activities to jump start participants’ own network.Making Connections Sessions. Each day of the conference will end with a Making Connections Session. A time for conference participants to discuss the sessions of the day and apply the information gained in these sessions to their own work.Register for the 2019 Virtual Conference by clicking here. We can’t wait to see you September 17 – 19! read more
Return to article. Long DescriptionWritten by: Christopher Plein, Ph.D. West Virginia University & MFLN Military Caregiving concentrationLife is full of serendipity. In just a short time, diverse conversations, discussions, and experiences can converge to create moments of insight and clarity. Over the past week or so I have had the great opportunity to learn more about the challenges and opportunities that we face in helping families be ready and resilient in the face of change and uncertainty. Two events anchored this experience. The first was attending the 2019 Virtual Learning Conference offered online by the Military Families Learning Network. The second was attending the annual conference for the West Virginia Extension Service. Along the way, I was reminded once again how lessons learned in one setting can apply to another. As I visualized the experience, my mind drew a map of paths of learning converging.Both conferences were aimed at bringing together those who work with families and communities. They did so in different ways. The Virtual Conference provided a cutting edge 21stcentury approach to this objective. Participants joined online from their homes and offices from across vast distance, closing gaps and challenges posed by travel and time through virtual space. The annual Extension conference focused on bringing together participants in one physical place. It was held at one of the oldest statewide 4-H camps in the United States. Dating back to the early 20thcentury and known officially as Jackson’s Mill, the camp is affectionately referred to simply as “The Mill.” It is relatively isolated, has limited cell-phone coverage, and its bucolic setting is perfect for long walks, conversation, and reflection.Both conferences provided formal and set-piece presentations full of valuable content. But in their own ways, they offered something just as important. They encouraged peer-to-peer learning and joint discovery through informal interaction and dialogue. At the Mill, beautiful late summer weather allowed for conversations on porches, under trees, and in sunlight filtered wood paneled rooms. With the Virtual Conference, the light of computer screens and digital prompts invited dialogue and discussion through engagement in chat-boxes and a daily wrap-up question and answer session.Unstructured and informal reflection and interaction allow us to make connections in our own unique and organic way. Because each of us moves across different communities of interest and different settings, we help to share ideas and draw inspiration in, and from, various contexts. At the Mill, much of our focus was on how to build connections within and across rural communities to address matters relating to education, health, family well-being, and community capacity. As I participated in these sessions, I thought of lessons learned from the Virtual Conference. Many of these focused on building collaborations across organizational and disciplinary boundaries through networks and successfully sustaining these over time. I also thought about how we convey and visualize information, both through words and images.Indeed, a Virtual Conference session on “Creating Visual Language” led me to the image of paths of learning converging. Things come together when we reflect on experiences and then apply them to new circumstances. For example, one of the Virtual Conference’s session focused on “Holistic Financial Health for Human Services.” Considered in the context of military family readiness, we might consider the lessons offered in relationship to the challenges facing a family stretching to make ends meet in a new duty assignment. But a few days later, as I listened to an Extension agent explain the financial stresses that many rural families face, I realized how closely related family situations can be. I immediately shared insights learned from the finance session. I explained to my colleagues how the Military Families Learning Network, while focused on the well-being of those in and around our defense system, is a valuable resource broadly applicable across the Extension community and beyond.It goes without saying that the knowledge and experience of the Extension community contributes much to the content and approaches used in the Military Families Learning Network. Our work is deeply informed by over a century of knowledge generated and shared at places like “The Mill” and across our country. Just as importantly, new knowledge gained through a virtual learning network, like the MFLN, provides new insights and resources for the Extension community. The paths of knowledge do indeed converge. This image was purchased by MFLNMC from iStock.com under member ID 8085767. read more
This week’s blog post is to inform military service providers of a free webinar that Community Capacity Building (CCB) will be hosting on October 24 from 11 am to 12 pm, EDT.Building a Battle Plan for Military and Veteran Families will be presented by Barbara Thompson, the Department of Defense’s former military family readiness policy director, and Keisha Bailey, a doctoral student at Purdue University. Both presenters have professional as well as personal experiences with military families. The webinar will focus on how organizations and communities can work together to support military families through transitions, such as deployments by creating a battle plan to increase their level of preparedness for such events. Attendees can expect a deeper understanding of who military families are and the unique needs that each one may have, as well as why families and communities must be ready for possible challenges.This upcoming webinar is a great way for military service providers to engage in professional development that takes a holistic approach like that of Total Force Fitness to address domains such as psychological and social fitness.Make sure to join us in our webinar platform for live interaction with the presenters as well as participation with other attendees by RSVP’ing on the event page! We hope to see you there on October 24th! read more
By Carol ChurchHave you ever wished that you could go back in time? I think we all have, at least occasionally. Unfortunately (or fortunately), nobody’s invented that magic machine just yet.However, while we can’t go back in time, we can benefit from the advice of those who have “gone before” us and traveled paths similar to those we are likely to travel ourselves. Recently a conversation on an online military discussion board caught my eye. It was a discussion among newly enlisted service members asking for financial advice (“What do you wish you’d known? What would you have done differently?”) – from those who had “been there and done that.”New Jersey’s Recruit Sustainment Program prepares future Soldiers. Photo by Master Sgt. Matt Hecht, DVIDShub.netWhile not all advice seemed completely sound (for instance, I saw someone suggesting investing in Bitcoin), there were some good words of wisdom that I thought seemed worth distilling here. Here’s a brief summary.Don’t buy a new carThis came up time and again, maybe because it’s such a common mistake. Advice was instead to buy a sensible, “boring” used car of a reliable make. Many suggested buying a car at all can be avoided when living on base.Beware of alcohol, cigarettes, and a “party” lifestyleAlmost nothing costs more and leaves you less to show for it than spending money on alcohol, cigarettes, or worse. While we all want to enjoy time with friends, a party lifestyle is an expensive and dangerous way to burn through cash.Don’t let peer pressure or the feeling of a flush bank account talk you into buying “toys”Many talked about the danger of being tempted into buying into expensive “toys” like gaming systems, jewelry, sports equipment, motorcycles, and boats. This may be a particular danger for young recruits with no dependents who find they don’t seem to have a lot of expenses.Set up TSP right away, and contribute 5% as soon as possible“Everyone wishes they’d set up their TSP earlier” is what I read, and that sounds about right. It’s best that new recruits not “get used to” having the money that should be going to TSP, so setting up from the get-go is a very smart plan. You never feel the loss if you’ve never had that money in your account! As soon as possible, get the maximum match by going to the full 5%.Learn how to cookThis simple piece of advice applies to every young person starting on his or her own! Although those living on base may have meals provided, in the end, we all need to know how to cook our own meals rather than relying on take out, fast food, or frozen dinners—expensive, and bad for our health.Consider getting a roommateIf single and unattached and not living on base, this can be an excellent way to pocket some BAH.Get the right credit card—but don’t overuse itThe protections of the SCRA (waived fees, low interest rates) mean that there are some very good options out there for credit cards for service members (in addition to service-specific cards). Getting off on the right foot here is a nice start, but young service members should use their new card wisely and plan to make payments in full each month.Put pay raises to workPay raises should come pretty quickly in the first few years; rather than spending them, experienced service members suggest using them wisely by immediately putting them towards savings goals and/or eliminating debt.Track expenses and make a budgetIt gets said again and again…because it’s excellent advice! There are lots of good online tools and apps these days to help with this.Be cautious about jumping into marriageWhile it may not be what the young and in love want to hear, many message board users advised taking it slow when it comes to romance. Marriage is expensive, and divorce is even more so. Statistics show that those who marry young are more likely to split.Of course, it’s often much easier to dole out advice as an armchair quarterback than it is to actually take it in the here and now. Still, I thought this perspective could be very helpful to new service members as well as to those who work with them. read more
ReferencesAdministration for Children and Families. (n.d.). Supporting Transitions: Using Child Development as a Guide. Retrieved from eclkc.ohs.acf.hhs.gov/sites/default/files/pdf/supporting-transitions-brief-one.pdfAstor, R. A. (2011, June 8). The need to support students from military families. Education Week, 30(33), 27, 32. Retrieved from www.edweek.org/ew/articles/2011/06/08/33astor_ep.h30.htmlBaggerly, J. N., & Exum, H. (2008). Counseling children after natural disasters: Guidance for family therapists. American Journal of Family Therapy, 36(1), 79-93.Berg, K. F. (2008). Easing transitions of military dependents into Hawaii public schools: An invitational educational link. Journal of Invitational Theory and Practice, 14, 41–55.Berson, I. R., & Baggerly, J. N. (2009). Building Resilience to Trauma: Creating a Safe and Supportive Early Childhood Classroom, Childhood Education, 85, 375-379, DOI: 10.1080/00094056.2009.10521404Bradshaw, C. P., Sudhinaraset, M., Mmari, K., & Blum, R. W. (2010). School transitions among military adolescents: A qualitative study of stress and coping. School Psychology Review, 39, 84–105.Kitmitto, S., Huberman, M., Blankenship, C., Hannan, S., Norris, D., & Christenson, B. (2011). Educational options and performance of military-connected school districts research study – final report. San Mateo, CA: American Institutes for Research. Retrieved from www.militaryk12partners.dodea.edu/docs/2011-air-report.pdfLandry, S. H., Smith, K. E., Swank, P. R., Assel, M. A., & Vellet, S. (2001). Does early responsive parenting have a special importance for children’s development or is consistency across early childhood necessary? Developmental Psychology, 37(3), 387-403.http://dx.doi.org/10.1037/0012-1649.37.3.387 Hope K. Gerde, PhDTransitions are a regular part of life, particularly military family life. Military families move from installation to installation, often across state and international borders. Military children move from home-to-school or school-to-school. On average, military families move six to nine times during children’s school years (Astor, 2011; Berg, 2008; Kitmitto et al., 2011), which is three times that of a non-military family (Berg, 2008; Bradshaw, Sudhinaraset, Mmari, & Blum, 2010).Moves are just one type of transition military families will navigate. Beyond moving, families experience a range of transitions including the addition of a new family member, change in parent career path, and even separation during deployment.Transitions can be challenging for all family members, but are particularly difficult for young children. Even moving from playing at the park to playing at home is a transition that requires skill for young children to navigate successfully. Children birth to age five love consistency! Predictability and familiarity with people, spaces, and routines supports positive child development (Landry, Smith, Swank, Assel, & Vellet, 2001).How many of you have, like a trooper, read the same children’s book every night for six months? How many of you have to use a Navy Seal stealth operation to wash your child’s favorite blanket while she is sleeping? Young children love consistency!Consistency helps children develop skills they can use to successfully transition. Consistent family routines communicate a sense of security to all family members which can help to restore calm within chaotic events (Berson & Baggerley, 2009). Further, the American Academy of Pediatrics promotes consistency through family routines because consistency helps children feel safe, comfortable, and confident even in the face of change.While military personnel may be Army Strong and live up to the Semper Fidelis moto, their children may not be Semper Paratus, or “always ready” to transition in an instant. The no questions asked military approach to transitions is not the most successful for children. Service personnel parents have been trained to 1) follow orders, 2) don’t ask questions, 3) do what you are told, 4) with very little notice. Transitions can be stressful and scary without the appropriate supports, especially for young children.Change is inevitable, particularly in military families. Fortunately, there are ways to reduce stress and support positive development for young children within transitions when families translate military directives in ways that offer children safety, autonomy, and understanding.Facilitating positive adjustments within a transition can support positive interactions with new peers and can increase children’s ability to resolve social conflicts in the future (ACF, n.d). Using these strategies can promote children to feel safe and manage stress within a changing environment. Children can develop skills for confidently navigating a range of transitions, but they need your help.Approaches to Successful TransitionsGive Accurate Information Early and OftenCommunicate early with your family, including young children, about upcoming transitions. “You ship out at 0800” may not leave a lot of time for early warnings- but sharing information about a transition as early as possible can promote successful transitions. This gives children time to process their ideas and emotions, ask questions, and work with you to create a plan.Create opportunities for your family to talk about the transition. Discuss what the transition means for each family member, including what will stay the same (e.g., we will always be a family) as well as what will be different (e.g., you will have a new teacher).Open and supportive communication exists when families share accurate, age-appropriate information about the transitions (Baggerly & Exuma, 2008). This is a time when adults and children can identify feelings, normalize typical feelings (e.g., it is okay to feel sad or angry about moving), communicate procedures or details about the transition, and revise misunderstandings that may exist. It can be helpful to end these discussions with a positive focus and by offering comfort (Baggerly & Exuma, 2008).Create Space to Discuss FeelingsAlthough military families always follow orders, they still have feelings about what happens to them. Creating a space in which families discuss how they feel about a transition can be meaningful for everyone involved.Expressing positive and negative feelings is appropriate; let children have the feelings they have. It is important not to try to change children’s feelings; working through feelings is a valuable opportunity for children. Be sure to meet children’s feelings of fear or sadness with comfort and reassurance that the adults in their lives will always keep them safe.Adults can reinforce positivity about the transition by viewing the change as an opportunity, highlighting strengths and benefits of the transition. Modeling change as an adventure rather than as a crisis can help children to see varied perspectives.Retain as Many Family Routines as PossibleMilitary transitions often occur quickly. Families may approach this, “need for speed” by stopping their typical routines and focusing all attention to the newly identified “mission.” Abrupt change, however, is very stressful for children and families (Berson & Baggerly, 2009).Strong adult-child relationships can promote positive transitions (Landry et al., 2001), so be sure to identify ways that family routines can be retained to strengthen family relationships and promote a sense of security for the entire family. For example, stop packing to eat dinner together, retain a bedtime routine even if it means working after children are asleep, be consistent with family movie night though you may watch a shorter film than usual. For some transitions, e.g., deployment, scheduling more family time may be essential.Create Transition RitualsMilitary families move three times more than non-military families, so creating family traditions focused on frequent transitions can be a meaningful opportunity to strengthen family unity and promote feelings of security and peace. This might be part of the leaving process.Perhaps the night before the move the family watches a favorite movie and enjoys a special favorite meal. This can soothe and comfort everyone before a big day of unknowns. Traditions might be part of the process of arriving in a new place. For example, the family might go to the public library to get library cards and check out books. No matter the event, if it is done with military consistency, this new tradition will become a comfort to the entire family. The children will know that no matter where they move, they will find the library.Give Choices When Choice is PossibleMilitary personnel relinquished much of their choice when they signed up for service. However, providing children autonomy and choice, whenever possible, can facilitate successful transitions.Children may not be able to choose where they move, but they can choose the clothes they will wear on their journey to this new place. Children may not choose their new teacher, but they can choose the color they want to use to write their name on their new cubby. Children certainly did not choose for any family member to be deployed, but they can choose whether they want to write a letter or video conference when they communicate. Importantly, only give a choice when the choices are actually available.Celebrate Where You AreCelebrate the schools, peers, people, and places you have lived. These people and environments have been an important part of your life and contributed to your development and learning. Of course, gathering records (e.g., school, health, etc) to take with you is an important part of moving. Celebrating what is special about this place or how this place has influenced you can be meaningful for families who transition frequently.Keeping a map with push-pins indicating where the family has lived or having a t-shirt reflecting the place where each family member was born can provide opportunities for sharing memories from past transitions. Providing opportunities to say goodbye and sharing why these people and places are special to each family member can solidify positive memories, build prosocial skills, and help family members learn more about one another. In fact, this process could become part of your family transition tradition. Visiting favorite spots like the park, restaurant, movie theatre, or library, and sharing a favorite memory or identifying why it is a favorite place can help family members share their feelings and also offer ideas for potential new favorite places.Involve Children in Learning about Where they are GoingWhether it is a new classroom, after school program, city, or country, children want to know about new environments and people they will meet. Helping children to make connections between their pre-transition and post-transition lives, including similarities and differences, can promote security and reduce stress.Before you move, look up maps and pictures of the new location, try some foods that may be popular in the new city, listen to music or the language of their new environment. Upon arrival to your new place, find the ice cream shop and test your favorite flavors. Go to the park and talk about how this park is the same and different from the park you used to visit. Talk about what you and your children like about the new space, what they do not like, and what more they want to know.Families can contact the new school and ask for information about the school and class each child will attend. Teachers who will be receiving new children can involve their current students in taking pictures of the building, classroom, and themselves to send to the new family. Including with the pictures messages from the students and expressing a willingness to correspond prior to the family’s arrival can enhance the transition process.Resources for Positive Transitions:Department of Defense Education Activity: www.dodea.eduMilitary OneSource: www.militaryonesource.milMilitary OneSource: Military Children Changing Schools:www.militaryonesource.mil/education-employment/for-children-and-youth/changing-schools/interstate-compact-for-military-childrenMilitary Child Education Coalition: www.militarychild.org/programs/supporting-military-children-through-school-transitions-foundationsMilitary Child Care Programs: www.militaryonesource.mil/family-relationships/parenting-and-children/childcare/military-child-care-programsVisit https://militaryfamilieslearningnetwork.org/event/52250 to view the Promoting Successful Home-to-School Transitions for Military Families with Young Children archived webinar.Authored by Hope K. Gerde, PhD, Associate Professor in the Department of Human Development & Family Studies at Michigan State University.Dr. Gerde earned master’s and doctoral degrees from Purdue University and is a former preschool teacher. Her federally-funded research focuses on the development and evaluation of approaches to promoting growth in children’s early language and literacy skills, particularly early writing, via high-quality professional development for teachers. She examines the interrelations between early reading and writing development and how at-risk children’s language and literacy development is affected by the quality of the adult-child interactions they experience across contexts. Dr. Gerde’s work has been published in top research journals and highlighted in media outlets such as PBS NewsHour and Michigan Radio. Dr. Gerde teaches undergraduate courses in early childhood curriculum development (a lecture/practicum combination course) and graduate courses in advanced language and literacy development and prevention and intervention research for early childhood education. She is the program coordinator for Michigan State University’s premiere online bachelor’s degree in early childhood care and education sponsored by the Great Plains IDEA. read more
Disaster preparedness is a crucial part of any community, but for military families, preparing for a disaster can look differently compared to the civilian population. Military families have additional documents to keep track of, family members who might have special needs, or may even be separated from family due to being stationed outside of the United States. For these reasons, MFLN Community Capacity Building wants to highlight some resources for our service providers that can be of great significance to military families no matter where they are located in the case that a disaster strikes.Extension Disaster Education Network (EDEN): EDEN is a collaborative multi-state effort by Cooperative Extension Services with the aim of reducing the harmful effects of disasters on citizens. Each state as well as 3 US territories has delegates of various disciplines represented through EDEN. You can view information about your state’s delegates and programs by visiting EDEN’s website and clicking on “State Information”.Ready: Ready is a national public service campaign with the goal of educating Americans on how to prepare for, respond to, and mitigate emergencies through public involvement. Ready has information specific to situations that military families face with resources for each branch of the military as well. These resources are only a few in the toolbox of those who prepare for disasters professionally. Our hope is that service providers can explore these resources and use them as a foundation for helping military families in the event of an emergency. Over the next several weeks, Friday Field Notes will explore different concentration areas of MFLN and how each one has a role play in disaster preparedness as well as the resources that they offer. USDA NIFA: As a federal partner with the Cooperative Extension System (CES), the USDA National Institute of Food and Agriculture collaborates with land grant universities across the country, funding programs that advance agriculture-related science. NIFA is partnered with the government, non-profit, and private organizations so that their research and education can reach communities where individuals need solutions to agricultural problems including disasters, such as disease outbreaks and housing concerns. CES operates at the federal, state, and local levels in order to best serve communities and the unique challenges that they face. NIFA’s website also has information for youth programs where children and adolescents can also learn the importance of disaster preparedness as it relates to agriculture. read more
This image was purchased by MFLNMC from iStock.com under member ID 8085767. Return to article. Long DescriptionWritten by: Mary Brintnall-Peterson, Ph.D., MBP Consulting, LLC, Professor Emeritus, UW-Extension & Caregiver to her son Will.As National Caregiving Month comes to a close, I’d like to end this month with a message of hope for not only caregivers but care recipients as well.Whenever I talk with someone about my son’s cancer, the conversation eventually turns to the topic of hope. They tell me how important it is for my son, me and other family members to have hope. But exactly what is hope and how does it play into the cancer journey and healing process?In my research for information on hope, I found that hope is basically a belief that a positive outcome lies ahead. People hope for different things at different times in their cancer journey. When cancer is diagnosed, there is hope the treatment will be successful and that the cancer will go into remission. Hope will be used through rough times, when treatment doesn’t work or other changes that happen during the cancer journey.Holding on to HopeHope can be difficult to hold onto in the face of cancer so knowing how to create a sense of hope can lead to strength and confidence. Also understanding what hope is can be useful in creating hope. I found the work of Dr. Rick Boulay, Director of Gynecologic Oncology at Lehigh Valley Hospital in Allentown, Pennsylvania helpful. He shares that hope becomes an integral part of the cancer victim’s life. He believes hope comes from two sources-one being external sources such as a good CT scan or the blood work shows improvement, or the tumor has shrunk. External focused hope is commonly used at the beginning of the cancer journey because the patient is introduced to numerous medical treatments and the strong relationship created with their care team who they trust. External focused hope is comforting when cancer treatments are going well but when there are setbacks, the treatments fail, or the cancer comes back external focused hope fails them. These Individuals can become depressed, discouraged or feel alone and helpless.The second type of hope is Internal focused and is hope that exists within the individual and comes from beliefs and/or a relationship with a higher being. Dr. Boulay, says these individuals believe all things work together for good. He hears statements like: “Sure, treat me with whatever you need to, but the overall plan rests with God,” or “If it is my time, it’s my time.” This type of hope can’t be measured but when they experience cancer low points these individuals often become more hopeful by using an inner strength and belief system some individuals become despondent, hopeless, faithless, and depressed.Strategies to Create HopeCancer victims would be wise to develop both philosophies. Internal focused hope to guide them through the cancer journey and to help them through challenging times and external focused hope to manage the ups and downs of the cancer journey. There is no right or wrong path to finding hope. Hope comes easy for some, while others have difficulty holding onto hope during the difficult times. Here are some strategies for you to try to create hope:Sharing can increase one’s hope: Some find hope by talking with other people. One’s health care team can listen, answer questions, and provide suggestions for additional helpful resources. Sharing your cancer story with friends, co-workers and others provides support and can bring hope to the situation as they better understand your challenges, joys, hopes, and fears.Looking to the future: Some find hope by looking forward to planned events, like a child’s graduation from high school, a wedding or another type of gathering with friends and loved ones. Sometimes work projects or hobbies can provide a sense of purpose and help them look to the future.Comforting through beliefs: Many find hope through spirituality, religion or philosophy. These individuals believe that a higher power is helping them through the ups and downs of the cancer journey. These individuals often find talking with a faith-based leader or attending a spiritual support group helpful.Finding fact-based research: Some individuals search scientific or evidence-based information to find facts and hope. They research information about treatment and other cancer topics. They seek opinions from medical personnel or spend time learning about specific cancer topics, treatment options and survivorship recommendations through health care journals or online.Sharing your hopes with other people. When cancer victims talk about their hopes with others it helps those who care for them understand their feelings better. They can help the cancer victim stay positive and have a better idea of what things make the cancer victim feel hopeful.Writing down thoughts and feelings about hope in a journal. A hope journal is one way to record helpful sayings, ups and downs of the cancer journey, and what gives them hope. The journal can include feelings, relationships, hopes and fears, and plans for the present and the future. It can also provide a reference on what they have been through and how they survived along with highlights they may have forgotten.Expressing hope through other forms of creativity, such as drawings or scrapbooking. Reviewing and using cards received, words of encouragement and support shared by others can be put into a scrapbook or collage to express hope.Talking to a survivor. Finding someone who has survived a similar cancer can be beneficial. It’s helpful to meet individuals who have been where the cancer victim has been as they can relate to each other and the cancer victim can get suggestions and possibility hope through their shared experiences.Finding a support group. Support groups provide a safe place to share experiences, learn new ways to handle difficult situations and talk about emotions. The cancer victim will hear different stress coping strategies and how others are adjusting to life with cancer. Sometimes a health care team member knows of support groups. The cancer victim should check out several support groups before deciding one to join permanently and it’s also critical to attend more than one time to get a feel for each group.Confusing hope vs denial. Holding onto hope and being in denial are not the same thing. Denial means avoiding reality and refusing to admit the truth. Not admitting the truth is pretending things are going well when they really are not. Hope can ease overwhelming doubts and fears but needs to be realistic. It is being honest about the current situation while still looking forward to positive outcomes in the future.Talking to a therapist. If finding hope causes the individuals depression, anxiety or overwhelms them seek professional help. Ask a health care team member for a referral to a therapist who works with other cancer victims. Most cancer centers employ oncology social workers who are specially trained to work with cancer patients and their families. Even if the patient is not at a cancer center, the oncology social worker may meet with you the individual or refer them to someone.Recognizing hope changes over time. Hope is flexible and changes as the individual goes through their cancer journey. Only they will know what works best for them. If they realize that something hoped for does not appear to be happening, it may become necessary to refocus on other types of hopes. The outcome of situations cannot always be changed. However, they can decide what part hope will play in helping them deal with that situation.Sometimes, the changes that come with cancer can feel overwhelming and cause a great deal of uncertainty. Hope can help individuals move forward despite bad news and disappointments. Hope may help them find the strength and courage to face the new and ongoing challenges.Continue to HopeMany cancer victims and survivors have faced difficult situations and will continue to face challenges during treatment and after treatment is done. It is important to recognize the hope strategies used by the cancer victim. They need to be direct with family, friends and professional caregivers about what is most helpful to them with regard to using and maintaining hope. Keep in mind that there is always something to hope for, and the individual has the right to determine what, when and how they hope. read more
Connecticut Gov. Ned Lamont’s budget for the fiscal 2020-2021 recommends tax changes that include:– expanding the sales tax base;– eliminating the business entity tax;– making the 10% corporate business tax surcharge permanent;– creating a 75% wholesale tax on electronic cigarette liquids;– establishing bottle deposit and plastic bag fees; and– restoring the property tax credit to all personal income taxpayers.Income TaxThe governor’s budget contains no rate increase for personal income taxpayers. Connecticut raised income tax rates 5 times over a 15-year period. This represents a rate increase of 55% since 1991.He wants to fully restore the property tax credit. The previous budget limited the credit to seniors and taxpayers with dependents for the 2017 and 2018 tax years.Sales TaxThis budget does not increase the general sales tax rate. It proposes a broad expansion of the sales tax on:– all purchases for final consumption by households; and– goods and services.A few exceptions will apply to basic needs including food, prescription drugs, health, and education services. The sales tax expansion will not include business-to-business transactions.Other Business Tax ProposalsLamont proposes to cap all corporate business tax credits at 50.01% of tax liability. The 50.01% cap applies to most credits on current law, except:– research and development credits; and– urban and industrial site reinvestment credits.2020-2021 Biennial Budget Address, Connecticut Gov. Ned Lamont, February 20, 2019; 2020-2021 Biennial Budget, Connecticut Office of Policy and Management, February 20, 2019Login to read more on CCHAnswerConnect.Not a subscriber? Sign up for a free trial or contact us for a representative. read more
The Kansas Senate has passed legislation responding to the federal Tax Cuts and Jobs Act of 2017 (TCJA) (P.L. 115-97). The legislation makes a number of changes to Kansas corporate and personal income tax provisions, including:– providing option for personal income taxpayers to take Kansas itemized deductions regardless of whether itemized deductions are claimed for federal tax purposes;– allowing the filing of amended returns through December 31, 2019, for taxpayers that elect to use Kansas itemized deductions instead of the Kansas standard deduction for tax year 2018;– decoupling from repatriation transition tax provisions under IRC Sec. 965 for tax years after 2016;– decoupling from global intangible low-taxed income (GILTI) provisions under IRC Sec. 951A for tax years after 2017;– requiring an addition for any deduction claimed under IRC Sec. 250(a)(1)(B);– exempting certain disallowed business interest under IRC Sec. 163(j) in effect on January 1, 2018;– requiring an addition for amounts deducted because of a carryforward of disallowed business interest under IRC Sec. 163(j) for tax years after 2017; and– excluding certain capital contributions under IRC Sec. 118 from Kansas income taxation for tax years after 2017.S.B. 22, as passed by the Kansas Senate on February 7, 2019Login to read more on CCHAnswerConnect.Not a subscriber? Sign up for a free trial or contact us for a representative. read more
States across the country are throwing a sin tax party and the guests of honor are vaping, recreational marijuana, and sports betting. Each of these industries are taking off, and many states are moving quickly to get in on these new sources of tax revenue.Sin taxes have historically been levied on alcohol, gambling, and tobacco. In theory sin taxes are designed to discourage certain behaviors. But they are also a nice stream of tax revenue for states and local governments. Currently, there is a trifecta of new sins that many states are looking to tax:vaping;recreational marijuana; andsports betting.Vaping Taxes are Blowing Your Way As vaping has been on the rise, more and more states are eyeing it as a potential tax revenue source. Some states have been quick to act. Other states have been slow to make changes. And, the states that have enacted laws to tax vaping have taken some different approaches.Some states choose to tax e-cigarettes and vaping pens. While other states take the approach of taxing the liquids and gels used in vaping.And, some of the rates that states are currently taxing or looking to tax vaping products are remarkable. In Connecticut, the Governor has called for a 75% tax on vaping products. The Vermont Governor supports a 92% wholesale tax on e-cigarettes.In California, the rate is currently set at 62.78%. In the spring of 2017, the rate was 27.30%. So, California’s vaping tax rate has more than doubled in that short time.As cigarette use has fallen, so has cigarette tax revenue. As vaping use rises, more states will move towards taxing vaping products to fill in the revenue shortfall from cigarette taxes. The vaping tax is a sin tax that most states are expected to enact soon if they haven’t already.Recreational Marijuana Taxes are Growing Like Weeds Ten states have legalized recreational marijuana so far. Throughout 2018, 21 states considered bills to legalize.However, many states are doing a wait-and-see approach and closely watching the states that have already legalized to see how it plays out. They want to know what the downside of legalizing looks like. But, they also want to know what is the best way to tax this complicated market.How High is Too High?The big question with recreational marijuana is “What is the right tax rate?” And, the answer isn’t entirely clear, yet. States have enacted tax rates ranging from about 10% to 37%. And, those rates do not include the additional state sales taxes or any local taxes.Washington was one of the first two states to allow legal sales of recreational marijuana in 2014. Washington set their tax rate at 37%. It remains the highest rate in the nation on recreational marijuana.Is Marijuana Legal in the State Next Door?Many factors play into where a state sets the rate. The balancing act comes from trying to maximize tax revenues, but not chasing away customers to the illegal market. Colorado reduced their tax rate when they had concerns that they were losing too many customers to the illegal market. So, states must find the right balance, but it’s a different balancing act in every state. If a neighboring state has legalized already, and has a significantly lower rate, that could cut into revenue. If the black market in a state is not strong, it’s easier to have a higher rate. If there is a strong illegal market, a higher tax rate will be a struggle.A Sports Betting Tax is a Safe BetA U.S. Supreme Court decision in May of 2018 allowed states to legalize sports betting. By the end of 2018, seven states already had legal sports betting markets. And, about 30 more states are expected to consider sporting betting bills in 2019.But, again, the big question is where to set the tax rate. States are all over the place with their rates. Rates range from 9.25% in New Jersey to 51% in Rhode Island.Pennsylvania has doubled down on sports betting. Not only did they set a 36% tax rate on sports betting, they enacted a $10 million licensing fee to sports betting operators. But, the bet seems to be paying off. Even though the industry is still getting up and running, in December 2018 sports betting taxes brought in $2 million. And, that’s not even including the millions in licensing fees that were collected. And, the revenue numbers are only expected to climb as the market grows.Who Invited the Feds to the Sin Tax Party? The federal government doesn’t want to be left out of the sin tax party, either. In January 2019, a bill was introduced in the House that would add a federal excise tax to vaping products. And, in December 2018 a bipartisan bill was introduced in Congress that included a federal sports betting tax.As for recreational marijuana, it’s a bit more complicated. Under federal law, cannabis is still an illegal drug. So, before the feds can even think about enacting a federal marijuana tax, they have some legalization obstacles to overcome.With the wave of new sin taxes sweeping the country, many expect the feds to eventually show up to the party with signed legislation. In the meantime, it’s a safe bet that the states will keep the sin tax party hopping on their own.By Noelle Erber, J.D.Login to read more on CCHAnswerConnect.Not a subscriber? Sign up for a free trial or contact us for a representative. read more
Local governments may grant a Maryland property tax credit on the eligible assessment of taxes imposed on qualified opportunity zone business property.What property is eligible?To qualify for the credit, property must be:qualified opportunity zone business property;that was acquired by a qualified opportunity fund; andwas vacant for 12 months before acquired.“Qualified opportunity zone business property” and “qualified opportunity fund” have the same meaning as IRC Sec. 1400Z-2.How much is the credit?Local governments determine the amount and duration of the credit. The credit is based on the eligible assessment of the property. The eligible assessment is the difference between the base year value and the actual valueThe base year is immediately prior to the tax year in which the credit is granted.Ch. 211 (S.B. 581), Laws 2019, effective for tax years beginning after June 30, 2019.Login to read more on CCHAnswerConnect.Not a subscriber? Sign up for a free trial or contact us for a representative. read more
The U.S. Supreme Court ruled that states are immune from private suits brought in other states’ courts. In the Franchise Tax Board of California v. Hyatt, the court held that California was immune from a lawsuit filed by a taxpayer in Nevada courts.By a 5-4 vote, the Court overruled longstanding precedent set in Nevada v. Hall, 440 U. S. 410 (1979). In Hall, the Court held that the Constitution did not bar private suits against a state in the courts of another state.Dispute Over Taxpayer’s State of ResidencyIn this case, the taxpayer earned substantial income from a technology patent in the 1990s. Before receiving the patent, he was a long-time California resident.In 1991, he sold his house in California. Then, in Nevada, he:rented an apartment,registered to vote,obtained insurance,opened a bank account, andacquired a driver’s license.He filed his 1991 and 1992 income tax returns claiming residency in Nevada. Nevada has no personal income tax.The California Franchise Tax Board (FTB) suspected that the taxpayer’s move was a sham. It launched an audit and concluded that the taxpayer owed millions of dollars in back taxes.Nevada Court Held Nevada Could Enforce State ImmunityThe taxpayer sued the FTB in Nevada state court for torts he claimed the FTB committed during the audit.The FTB argued that, under the Full Faith and Credit Clause, Nevada courts had to apply California’s statute immunizing the FTB from liability for injuries caused by its tax collection.The Nevada Supreme Court held that the Full Faith and Credit Clause did not prohibit Nevada from applying its own immunity law to the case. Under that law, the FTB had immunity for negligent but not intentional torts. On remand, a Nevada court awarded damages to the taxpayer.Hall OverruledThe FTB petitioned the U.S. Supreme Court for review, raising the question of whether Hall should be overruled. The Court did overrule Hall in its decision.The Court found that Hall was irreconcilable with:constitutional structure; andhistorical evidence that states were immune from private suits, both in their own courts and in other courts.Because the FTB is immune from the taxpayer’s suit in Nevada’s courts, the Supreme Court reversed the judgment of the Nevada court and remanded the case for further proceedings.Franchise Tax Board of California v. Hyatt, U.S. Supreme Court, Dkt. 17-1299, May 13, 2019Login to read more on CCHAnswerConnect.Not a subscriber? Sign up for a free trial or contact us for a representative. read more
A real estate developer could not deduct a portion of his S corporation’s losses because there was no debt between the S Corp and the developer as shareholder. Transfers between the S corporation and various business entities he partly owned did not establish a “bona fide indebtedness” that “runs directly” to the taxpayer. The 11th Circuit affirmed a Tax Court decision.Debt Between Taxpayer-Owned EntitiesThe S corporation suffered a nearly $27 million loss after banks foreclosed on its condominium complex. The taxpayer asserted that he had sufficient basis in the corporation’s debt for him to deduct $13 million as his share of the loss. The taxpayer claimed basis from: a $5 million capital contribution; and more than $9 million from transfers through other business entities in which he held an interest.The IRS determined that the taxpayer could claim only the $5 million basis and not the $9 million because any debt ran from the S corporation to the other entities.No Economic Outlay Made by the TaxpayerThe Tax Court agreed with the IRS, ruling that:the taxpayer had failed to establish a bona fide debt of $9 million running directly to him; andhe failed to establish that he made an “actual economic outlay” toward the debt.The appeal concerned whether the debt ran “directly to the shareholder.”Under case law, an S corporation’s debt does not run directly to the shareholder if it instead flows through “an entity with passthrough characteristics which advanced the funds and is closely related to the taxpayer.”Back-to Back LoansHowever, under Reg. § 1.1366-2(a)(2)(iii), if a shareholder engages in genuine “back-to-back” loans—in which an affiliated entity loans the shareholder funds that the shareholder then loans directly to the S corporation—those loans can establish bona fide debt running directly to the shareholder.The taxpayer argued the loans were back-to-back loans based on:substance over form; andhis accountant’s end-of-year reclassification of the intercompany transfers, as reflected on tax returns and line-of-credit annual adjustments.Substance-over-Form Doctrine Does Not ApplyThe 11th Circuit dismissed the taxpayer’s substance over form argument, stating, “Only an ‘unusual set of facts’ can warrant judging a transaction based on its substance.” The Court further dismissed the taxpayer’s argument concerning his accountant’s year-end reclassification because:the transactions were contemporaneously classified as transactions between the affiliates and the S corporation; andthe designation the corporation’s accountant gave them at the end of the year does not govern.The Incorporated-Pocketbook Theory Does Not ApplyFinally, the Court rejected the taxpayer’s incorporated-pocketbook theory. This theory holds when the taxpayer has a “habitual practice of having his wholly owned corporation pay money to third parties on his behalf.” Court decisions based on this theory involved a single, wholly owned entity paying third parties on the shareholder’s behalf.In this case, the taxpayer sought to treat 11 affiliates, many of which he partially owned, as his incorporated pocketbook.The Court found that many of the affiliates acted more like ordinary business entities than as incorporated-pocketbook companies. The affiliates both disbursed and received funds for business expenses from the S corporation.H.F. Meruelo, CA-11, No. 18-11909, 05/06/2019. Aff’g, 115 TCM 1060, Dec. 61,120(M), TC Memo. 2018-16.Login to read more on CCHAnswerConnect.Not a subscriber? Sign up for a free trial or contact us for a representative. read more
The IRS has issued guidance on treatment of cash distributions made when a former S corporation (now a C corporation) redeems stock during the post-termination transition period.Post-Termination Transition Period and Accumulated E&POnce S corporation status ends, C corporation rules generally apply.There are, however, special rules for distributions during a designated period after S status ends, known as the post-termination transition period.For example, distributions from a C corporation are generally taxable. However, cash distributions during the post-termination transition period are applied against the shareholder’s adjusted stock basis to the extent of the accumulated adjustments account (AAA). The AAA measures an S corporation’s accumulated earnings and profits (E&P) and certain other transactions.Generally, accumulated E&P are the earnings and profits from when the S corporation was a C corporation before electing S corp status.IRS Redemption ExampleThe new guidance provides an example of a stock redemption during a former S corporation’s post-termination transition period. In the example:An individual, owns all 100 shares of the corporation’s outstanding stock.When the corporation converted to S corporation status, the corporation had accumulated earnings and profits (E&P) of $600x and no current E&P.When its S election terminated, the corporation’s AAA was $800x and its accumulated E&P was still $600x.During the post-termination transition period, the shareholder redeems 50 of the 100 shares of stock for $1,000x. The transaction is treated as a distribution in redemption of stock.The corporation makes no other distributions during the post-termination transition period.In this case, the corporation should:reduce its AAA by $800x; andcharacterize the remaining amount (distribution in excess of AAA) as a dividend.Rev. Rul. 2019-13Topic: Revocation and Termination of S Corporation StatusCode Sec. 1371Login to read more on CCHAnswerConnect.Not a subscriber? Sign up for a free trial or contact us for a representative. read more
Economic nexus laws enacted post-Wayfair targeting remote sellers and marketplace facilitators vary from the laws in the Wayfair case. Some states have followed the standards in Wayfair while others have not. Let’s take a quick look at these new laws.First, we’ll go over the standards the Supreme Court looked at in Wayfair.South Dakota Standards Under WayfairThe U.S. Supreme Court ruled in Wayfair that physical presence isn’t needed for sales and use tax nexus. This cleared the way for South Dakota to enforce a law requiring a remote seller lacking in-state physical presence to collect and remit the state’s sales tax if, it had:over $100,000 in South Dakota sales of personal property, products transferred electronically, or services; orat least 200 of such sales transactions.These thresholds applied based on sales made in the previous or current calendar year.State Standards After WayfairThe upholding of South Dakota’s sales tax economic nexus standards has led to many states adopting similar standards for:remote sellers; and/ormarketplace facilitators.Also, like in Wayfair, many states include electronic products in calculating thresholds, such as:digital products and electronically downloaded products, like Georgia, Maine and South Dakota;intangible property, like Hawaii; ordigital code, like Arkansas.States have also adopted similar time periods for counting sales included in their thresholds like counting sales made in:the previous or current calendar year—which is the overall trend;the previous 12 months, like Pennsylvania and Texas; or12 consecutive months, like Minnesota.However, some states have adopted laws and policies that vary farther from the South Dakota standards. Let’s look at some of the different rules enacted by the states.Economic Nexus Thresholds, and the Tweaking ThereofSome states changed economic nexus standards they had in place before Wayfair. Some changes are designed to bring in additional sales tax revenue, while others lean more towards the business friendly end of things. For example:California increased its sales threshold for remote sellers from over $100,000 to over $500,000 and will apply the over-$500,000 threshold to marketplace facilitatorsConnecticut increased its transaction threshold from at least 100 to at least 200Washington removed its 200-transaction thresholdStandout Thresholds: States Requiring a Greater or Lesser Economic PresenceWhile the Wayfair over-$100,000 sales threshold is generally the norm among states, some notable standouts, in addition to California noted above, include:Alabama: over $250,000 for remote sellers and marketplace facilitators in the previous calendar year.Massachusetts: over $500,000 for out-of-state Internet vendors in the preceding calendar year.Mississippi: over $250,000 in the previous 12 months.On the transaction side of the thresholds, some states have strayed from the 200-transaction Wayfair norm.Lower Transaction ThresholdA few states have transaction thresholds that are lower than 200 transactions.For example, Massachusetts and Minnesota have thresholds of at least 100 transactions.New York’s threshold is over 100 transactions.To add to the complexity, the time periods for counting transactions also are different for each of these states. Taxpayers will have to look at:the preceding calendar year in Massachusetts;12 consecutive months in Minnesota; andthe preceding four sales tax quarter in New York. More than a handful of states have no threshold for transactions. In that case, remote sellers and marketplace facilitators need to look only to the sales threshold.Everybody Fan Out: Accounting for Related EntitiesNot so fast… some states don’t allow taxpayers to calculate the thresholds of individual businesses that are related separately.States also don’t allow relying on a hold harmless provision when a related entity provides incorrect information.In fact, some states have taken a proactive stance against these practices.Conduct to Defeat a ThresholdIn Texas, the Comptroller can consolidate the total Texas revenue of sellers engaged in conduct that defeats the over-$500,000 threshold.Limitation on Liability LimitationSome states hold marketplace facilitators harmless for collecting an incorrect amount of tax when they receive incorrect information from a marketplace seller. However, the hold harmless rule applies only if that seller is unrelated to them or not them.With respect to evasion, South Dakota’s DOR not only takes a proactive stance to identify remote sellers who meet either of the state’s thresholds, but it relies in part on citizen notifications.Does This Count? What Sales are Included in the ThresholdsStates often apply economic nexus thresholds to taxable retail sales of various items and services. However, there are some notable variations:Illinois advises that exempt sales count toward the state’s thresholds.Michigan includes taxable and nontaxable sales in calculating its thresholds.New York includes in its thresholds taxable and exempt sales of personal property, without deduction for expenses.And with respect to marketplace facilitators, multiple states include sales made on the facilitator’s own behalf and sales made on behalf of a marketplace seller.Looking Ahead: Simplification and the Repeal of Use Notice RulesStates will continue to enact economic nexus laws and streamline them. States with such laws before Wayfair or that rushed to enact laws after Wayfair already are updating their nexus laws. Some areas to watch moving forward include simplification and repeal of use tax notice and reporting requirements.Simplification of Economic Presence for NexusPractitioners should be on the lookout for states moving toward sales tax collection simplification.For example, Alabama provides for remote sellers and marketplace facilitators meeting the sales threshold to collect and remit the state’s flat 8% Simplified Sellers Use Tax (SSUT).Repeal of Notice & Reporting RequirementsAlso, states may follow the trend of repealing remote seller use tax notice requirements. For example, Kentucky repeals these requirements as of July 1, 2019.Also looking forward, it should be interesting to see if more states make adjustments to their thresholds, in what direction these adjustments trend, and whether more states take defensive measures against fraud.Login to read more on CCHAnswerConnect.Not a subscriber? Sign up for a free trial or contact us for a representative. read more