Why Your Mortgage Interest Tax Deduction Doesn t Really Help Much – The Motley Fool


#mortgage tax deduction

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Why Your Mortgage Interest Tax Deduction Doesn t Really Help Much

Jan 11, 2015 at 9:33AM

No tax deduction is more misunderstood than the mortgage interest tax deduction. By law, taxpayers can deduct interest paid on their mortgage, but most middle-class taxpayers save little or nothing at all from the mortgage interest tax deduction.

In fact, the mortgage interest tax deduction is more for the benefit of millionaires than it is the average American.

How the mortgage interest deduction works
You can deduct all of your mortgage interest on up to $1 million in principal on the home in which you live. Thus, if you pay interest on a $100,000 mortgage, all of it is deductible. If you pay interest on a $1.5 million mortgage, only the interest on the first $1 million of principal is tax deductible.

But there are limitations. To qualify for the mortgage interest tax deduction, you have to itemize when you file your taxes. By itemizing, you forgo the standard deduction, which starts at $6,200 for singles and $12,400 for couples.

The standard deduction is a baseline. You can opt for the standard deduction, and not itemize, at your discretion. Thus, whether or not the mortgage interest deduction helps your financial being rests on whether or not it pushes you over the standard deduction.

Consider this scenario
You and your spouse paid $10,000 of mortgage interest on your $200,000 home this year. You also had $3,000 in other tax deductions.

When you itemize, you’ll be able to claim $13,000 in tax deductions. If instead you choose not to itemize, you’ll get $12,400 just by virtue of being a married taxpayer.

Thus, the net effect is that only $600 of your mortgage interest is tax deductible, because your deductions exceed the standard deduction for your situation by only $600. If you end up in a marginal tax bracket of 25%, you’ll save about $150 in taxes for paying $10,000 in mortgage interest — not much more than a rounding error.

Tax savings for high earners
All in all, the mortgage tax deduction is a (small-f) fool’s game for middle-class earners in low-cost areas, and a boon for high-income earners in high-cost areas.

Someone who owns a million-dollar home and who pays interest on a $1 million mortgage will inevitably be able to deduct more of their mortgage interest than someone who pays interest on a $100,000 mortgage.

So, while the mortgage interest tax deduction is touted as one of the best reasons to buy a home, it often provides little help to people who don’t live in a modern day McMansion. Buyer beware.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy .


Why Your Mortgage Interest Tax Deduction Doesn t Really Help Much – The Motley Fool


#mortgage tax deduction

#

Why Your Mortgage Interest Tax Deduction Doesn t Really Help Much

Jan 11, 2015 at 9:33AM

No tax deduction is more misunderstood than the mortgage interest tax deduction. By law, taxpayers can deduct interest paid on their mortgage, but most middle-class taxpayers save little or nothing at all from the mortgage interest tax deduction.

In fact, the mortgage interest tax deduction is more for the benefit of millionaires than it is the average American.

How the mortgage interest deduction works
You can deduct all of your mortgage interest on up to $1 million in principal on the home in which you live. Thus, if you pay interest on a $100,000 mortgage, all of it is deductible. If you pay interest on a $1.5 million mortgage, only the interest on the first $1 million of principal is tax deductible.

But there are limitations. To qualify for the mortgage interest tax deduction, you have to itemize when you file your taxes. By itemizing, you forgo the standard deduction, which starts at $6,200 for singles and $12,400 for couples.

The standard deduction is a baseline. You can opt for the standard deduction, and not itemize, at your discretion. Thus, whether or not the mortgage interest deduction helps your financial being rests on whether or not it pushes you over the standard deduction.

Consider this scenario
You and your spouse paid $10,000 of mortgage interest on your $200,000 home this year. You also had $3,000 in other tax deductions.

When you itemize, you’ll be able to claim $13,000 in tax deductions. If instead you choose not to itemize, you’ll get $12,400 just by virtue of being a married taxpayer.

Thus, the net effect is that only $600 of your mortgage interest is tax deductible, because your deductions exceed the standard deduction for your situation by only $600. If you end up in a marginal tax bracket of 25%, you’ll save about $150 in taxes for paying $10,000 in mortgage interest — not much more than a rounding error.

Tax savings for high earners
All in all, the mortgage tax deduction is a (small-f) fool’s game for middle-class earners in low-cost areas, and a boon for high-income earners in high-cost areas.

Someone who owns a million-dollar home and who pays interest on a $1 million mortgage will inevitably be able to deduct more of their mortgage interest than someone who pays interest on a $100,000 mortgage.

So, while the mortgage interest tax deduction is touted as one of the best reasons to buy a home, it often provides little help to people who don’t live in a modern day McMansion. Buyer beware.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy .


Can – t Create a New Certificate Template to Issue? Security Musings #i #t #security


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Can t Create a New Certificate Template to Issue?

Posted on March 23, 2010 Edit on March 25, 2010 by Peter Hesse

As some of you know, a lot of my background is in the world of Public Key Infrastructure. I ve been involved in every phase of PKI, including developing certification authority and ASN.1/DER encoding/decoding software, developing automated registration authority components, creating certificate policies and certification practices statements, as well as designing and rolling out production PKIs for large organizations.

Increasingly, organizations are turning to the use of Active Directory Certificate Services. otherwise known as Microsoft Certificate Services. The reasons are many: it s included with the purchase of your Windows Server product, it s easy to configure and use, and did I mention it doesn t cost any (additional) money? The Microsoft product is a fairly good one and provides for a lot of customization and configuration so that it can be useful in just about every environment. We use this product for our company-issued certificates which are used to encrypt email.

Last year we upgraded our Certification Authority (CA) to Windows 2008 and immediately encountered a minor issue: we couldn t add some of our custom templates so that the CA would allow them to be issued. Our need to change templates is infrequent, so we ve been living with this issue for about a year now. If you Google for cannot create new certificate template to issue you will find over 70K hits, and the majority of them are all answered the same way: Are you running Windows Server Enterprise Edition? For Microsoft Certificate Server on Windows 2000 and Windows 2003 servers, the Enterprise edition is required in order to issue certificate with your own custom templates. The answer in our case was yes we are running Enterprise edition. Additionally, I understand that Windows 2008 R2 has removed this restriction, and you can issue certificates on custom templates from Standard edition as well!

Today I was able to find an excellent troubleshooting tutorial from the Directory Services team at Microsoft called How to troubleshoot Certificate Enrollment in the MMC Certificate Snap-in. This step-by-step guide led me to the answer I had been seeking for over a year.

After you have verified that you actually have an Enterprise CA, let’s look at the CA object in ADSIEdit.msc and make sure the flag that identifies it as an Enterprise CA is set correctly. It is very unusual to see the flag set incorrectly, but all the same it is possible. As we did before, launch ADSIEdit.msc. then expand CN=Configuration | CN=Services | CN=Public Key Services | CN=Enrollment Services. Right click the CA in the right pane that you want to enroll from and click properties. Find the flags attribute; and verify that it is set to 10. If it isn’t set to 10, then set it to 10 using ADSIedit.msc and allow for Active Directory replication to complete.

This was exactly our issue. For whatever reason, our flags attribute was set to 2 instead of 10 . Making this change and forcing replication allowed me to add all the certificate templates that appeared in my certificate templates management screen. I hope this bit of information is helpful to someone in the future!

Post navigation


How to Provide First Aid for a Broken Bone: 8 Steps #t #bone #accident


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How to Provide First Aid for a Broken Bone

Assess the injured area. In an emergency situation with no trained medical people around, you need to quickly assess the seriousness of the injury. Trauma from a fall or accident coupled with severe pain is not a guarantee of a broken bone, but it’s usually a pretty good indicator. Fractures involving the head, spine or pelvis are difficult to tell without an x-ray, but you suspect a break in one of these areas you should not attempt to move the person. Bones in the arms, legs, fingers, and toes will typically look crooked, misshapen or obviously out of place when broken. [2] A severely broken bone might poke out through the skin (open fracture) and involve profuse bleeding.

  • Other common symptoms of broken bones include: limited use of the injured area (reduced mobility or unable to put any weight on it), immediate local swelling and bruising, numbness or tingling downstream from the break, shortness of breath, nausea.
  • Be very careful when assessing the injury not to cause much movement. Moving a person with an injured spine, neck, pelvis or skull is very risky without medical training and should be avoided.

Call for emergency help if the injury is severe . Once you’ve established that the injury is serious and suspect that a broken bone is likely, then call 9-1-1 for an ambulance and get professional medical help on their way as quickly as you can. [3] Providing immediate rudimentary first aid and supportive care are certainly helpful, but it’s no substitute for trained medical attention. If you are close to a hospital or emergency clinic and are quite certain the injury is not life threatening and only involves a limb, then consider driving the injured person to the facility.

  • Even if you think your fracture is not life threatening, resist the urge to drive yourself to the hospital. You may not be able to operate your vehicle properly or may lose consciousness from the pain and become a road hazard.
  • If the injury appears severe, stay on the line with the 9-1-1 dispatcher in case conditions get worse in order to get helpful instructions and emotional support.
  • Call emergency services if you notice the following: call for emergency help if The person is unresponsive, isn’t breathing, or isn’t moving; there is heavy bleeding; gentle pressure or movement causes pain; the limb or joint appears deformed; the bone has pierced the skin; the extremity of the injured arm or leg, such as a toe or finger, is numb or bluish at the tip; you suspect a bone is broken in the neck, head or back. [4]

Provide CPR if necessary. If the injured person is not breathing and you can’t feel a pulse on her wrists or neck, then start administering cardiopulmonary resuscitation (if you know how to) before the ambulance arrives. [5] CPR involves clearing the airways, blowing air into the mouth / lungs and trying to restart the heart by rhythmically pushing on the chest.

  • A lack of oxygen for much more than five to seven minutes causes, at least, some degree of brain damage, so time is of the essence.
  • If you’re not trained in CPR, then provide hands-only CPR — uninterrupted chest compressions at a rate of about 100 per minute until paramedics arrive. [6]
  • If you’re well-trained in CPR, begin with chest compressions immediately (about 20 – 30) and then check the airway for obstruction and start doing rescue breathing after tilting the head back at a slight angle. [7]
  • For a spine, neck, or skull injury, do not use the head-tilt-chin-lift method. Use the jaw-thrust method of airway opening, but only if you have been trained how to do so. The jaw-thrust method involves kneeling behind the person and placing a hand on either side of her face, middle and index fingers beneath and behind the jaw. Push each side of the jaw forward until it juts out.

Stop any bleeding . If the injury is bleeding significantly (more than a few drops), then you must attempt to stop it regardless if there is a fracture or not. Significant bleeding from the main artery can lead to death within a few minutes. Controlling the bleeding is a higher priority than addressing a broken bone. Apply firm pressure to the wound with a sterile and absorbent bandage (ideally), although a clean towel or piece of clothing will do in an emergency. [8] Hold it there for a few minutes to encourage the blood to clot at the injury site. Secure the bandage around the wound with an elastic bandage or piece of cloth if you can.

  • If the bleeding won’t stop from an injured limb, you may have to tie a tight tourniquet above the wound to temporarily cut off the circulation until medical help arrives. A tourniquet can be made of virtually anything that can be secured tight — string, rope, cord, rubber tubing, leather belt, necktie, scarf, tee-shirt, etc.
  • If there is a large object penetrating into the skin, do not remove it. It may be clotting the wound, and removing it could cause severe bleeding.

The financial crisis wasn t caused by subprime lending #mortgage #rate #calculator #with #taxes


#subprime mortgages

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The subprime mortgage crisis wasn’t about subprime mortgages

In the years following the financial crisis, a cottage industry arose that tried to explain just what happened to the American economy and the financial system.

Early on in the process, journalists zeroed in on one set of villains: subprime lenders and the supposedly irresponsible borrowers who were their customers. We were regaled with stories of mortgage lenders like Countrywide handing out loans that borrowers couldn t possibly repay, and then selling them on to investment banks, who packaged them into toxic bundles like Goldman Sachs infamous Abacus collateralized debt obligation .

When these subprime borrowers began to default, so the narrative goes, the dominoes began to fall, eventually helping to send the entire mortgage market, U.S. financial system, and global economy into crisis.

At the time, the press spent a lot of energy scrutinizing subprime borrowers and lenders, based on the fact that in the early days of the crisis, the rate and absolute number of subprime foreclosures were much higher than foreclosures in the prime market. It was around this time that CNBC s Rick Santelli gave his famous rant against talk of bailing out underwater homeowners that helped launch the Tea Party movement, calling the folks who were at risk of foreclosure losers.

Furthermore, much of the reforms instituted since the financial crisis have centered around increasing scrutiny of mortgage lending, to make sure that these sorts of irresponsible loans aren t made again.

But if journalism is the first-draft of history, then it s about time for a second draft. In a new working paper by Wharton economists Fernando Ferreira and Joseph Gyourko, the authors argue that the idea that subprime lending triggered the crisis is misguided. The paper looks at foreclosure data from 1997 through 2012 and finds that while foreclosure activity started first in the subprime market, the foreclosure activity in the prime market quickly outnumbered the number of subprime foreclosures.

The following chart shows the total number of foreclosures and short sales per quarter in various classes of mortgages:

While subprime borrowers default at a higher rate than prime borrowers, Fierra said in an interview with Fortune that the data shown above suggest that the foreclosure crisis would have happened even in the absence of such risky lending. People have this idea that subprime took over, but that s far from the truth, says Ferreira. The vast majority of mortgages in the U.S. were still given to prime borrowers, which means that the real estate bubble was a phenomenon fueled mostly by creditworthy borrowers buying and selling homes they simply thought wouldn t ever decrease in value.

We can draw two conclusions from this data. One is that your chances of being foreclosed upon in the past decade was more a matter of timing than anything else. If you were a subprime borrower in, for instance 2002, who bought a bigger house than a more prudent and creditworthy borrower would have bought, chances are you would have been fine. But a prime borrower who did everything right—bought a house he could easily afford, with a large downpayment—but did so in 2006 would have had a higher chance of defaulting than the subprime borrower with better timing.

Since whether you were hurt by the crisis had more to do with luck than anything else, Ferreira argues we should rethink whether doing more to help underwater homeowners would have been a good idea.

The research also offers some sobering policy implications. Ferreira s data show that even with strict limits on borrowing—say, requiring every borrower to put 20% down in all circumstances—wouldn t have prevented the worst of the foreclosure crisis. It s really hard for certain regulations to stop the process [of a bubble forming], Ferreira says. I really wish my research had showed that it s all about putting down 20% and all problems are solved, but the reality is more complicated than that.

Furthermore, we still don t have the tools to understand the cycles of real estate prices, or to recognize bubbles, in any asset class, before they form. So it would be a mistake to think that any regulatory reform will offer fool-proof protection against the next financial crisis.

The booms that capitalism confers on us, it seems, will inevitably be followed by busts.

In the years following the financial crisis, a cottage industry arose that tried to explain just what happened to the American economy and the financial system.

Early on in the process, journalists zeroed in on one set of villains: subprime lenders and the supposedly irresponsible borrowers who were their customers. We were regaled with stories of mortgage lenders like Countrywide handing out loans that borrowers couldn t possibly repay, and then selling them on to investment banks, who packaged them into toxic bundles like Goldman Sachs infamous Abacus collateralized debt obligation .

When these subprime borrowers began to default, so the narrative goes, the dominoes began to fall, eventually helping to send the entire mortgage market, U.S. financial system, and global economy into crisis.

At the time, the press spent a lot of energy scrutinizing subprime borrowers and lenders, based on the fact that in the early days of the crisis, the rate and absolute number of subprime foreclosures were much higher than foreclosures in the prime market. It was around this time that CNBC s Rick Santelli gave his famous rant against talk of bailing out underwater homeowners that helped launch the Tea Party movement, calling the folks who were at risk of foreclosure losers.

Furthermore, much of the reforms instituted since the financial crisis have centered around increasing scrutiny of mortgage lending, to make sure that these sorts of irresponsible loans aren t made again.

But if journalism is the first-draft of history, then it s about time for a second draft. In a new working paper by Wharton economists Fernando Ferreira and Joseph Gyourko, the authors argue that the idea that subprime lending triggered the crisis is misguided. The paper looks at foreclosure data from 1997 through 2012 and finds that while foreclosure activity started first in the subprime market, the foreclosure activity in the prime market quickly outnumbered the number of subprime foreclosures.

The following chart shows the total number of foreclosures and short sales per quarter in various classes of mortgages:

While subprime borrowers default at a higher rate than prime borrowers, Fierra said in an interview with Fortune that the data shown above suggest that the foreclosure crisis would have happened even in the absence of such risky lending. People have this idea that subprime took over, but that s far from the truth, says Ferreira. The vast majority of mortgages in the U.S. were still given to prime borrowers, which means that the real estate bubble was a phenomenon fueled mostly by creditworthy borrowers buying and selling homes they simply thought wouldn t ever decrease in value.

We can draw two conclusions from this data. One is that your chances of being foreclosed upon in the past decade was more a matter of timing than anything else. If you were a subprime borrower in, for instance 2002, who bought a bigger house than a more prudent and creditworthy borrower would have bought, chances are you would have been fine. But a prime borrower who did everything right—bought a house he could easily afford, with a large downpayment—but did so in 2006 would have had a higher chance of defaulting than the subprime borrower with better timing.

Since whether you were hurt by the crisis had more to do with luck than anything else, Ferreira argues we should rethink whether doing more to help underwater homeowners would have been a good idea.

The research also offers some sobering policy implications. Ferreira s data show that even with strict limits on borrowing—say, requiring every borrower to put 20% down in all circumstances—wouldn t have prevented the worst of the foreclosure crisis. It s really hard for certain regulations to stop the process [of a bubble forming], Ferreira says. I really wish my research had showed that it s all about putting down 20% and all problems are solved, but the reality is more complicated than that.

Furthermore, we still don t have the tools to understand the cycles of real estate prices, or to recognize bubbles, in any asset class, before they form. So it would be a mistake to think that any regulatory reform will offer fool-proof protection against the next financial crisis.

The booms that capitalism confers on us, it seems, will inevitably be followed by busts.


T Stock Price – T Inc #at #t #inc. #stock #price, #at #t #inc. #stock


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AT T Inc. T (U.S. NYSE)

P/E Ratio (TTM) The Price to Earnings (P/E) ratio, a key valuation measure, is calculated by dividing the stock’s most recent closing price by the sum of the diluted earnings per share from continuing operations for the trailing 12 month period. Earnings Per Share (TTM) A company’s net income for the trailing twelve month period expressed as a dollar amount per fully diluted shares outstanding. Market Capitalization Reflects the total market value of a company. Market Cap is calculated by multiplying the number of shares outstanding by the stock’s price. For companies with multiple common share classes, market capitalization includes both classes. Shares Outstanding Number of shares that are currently held by investors, including restricted shares owned by the company’s officers and insiders as well as those held by the public. Public Float The number of shares in the hands of public investors and available to trade. To calculate, start with total shares outstanding and subtract the number of restricted shares. Restricted stock typically is that issued to company insiders with limits on when it may be traded. Dividend Yield A company’s dividend expressed as a percentage of its current stock price.

Key Stock Data

P/E Ratio (TTM)
EPS (TTM)
Market Cap
Shares Outstanding
Public Float
Yield
Latest Dividend
Ex-Dividend Date

Shares Sold Short The total number of shares of a security that have been sold short and not yet repurchased. Change from Last Percentage change in short interest from the previous report to the most recent report. Exchanges report short interest twice a month. Percent of Float Total short positions relative to the number of shares available to trade.

Short Interest (06/30/17)

Shares Sold Short
Change from Last
Percent of Float

Money Flow Uptick/Downtick Ratio Money flow measures the relative buying and selling pressure on a stock, based on the value of trades made on an “uptick” in price and the value of trades made on a “downtick” in price. The up/down ratio is calculated by dividing the value of uptick trades by the value of downtick trades. Net money flow is the value of uptick trades minus the value of downtick trades. Our calculations are based on comprehensive, delayed quotes.

Stock Money Flow

Real-time U.S. stock quotes reflect trades reported through Nasdaq only.

International stock quotes are delayed as per exchange requirements. Indexes may be real-time or delayed; refer to time stamps on index quote pages for information on delay times.

Quote data, except U.S. stocks, provided by SIX Financial Information.

Data is provided “as is” for informational purposes only and is not intended for trading purposes. SIX Financial Information (a) does not make any express or implied warranties of any kind regarding the data, including, without limitation, any warranty of merchantability or fitness for a particular purpose or use; and (b) shall not be liable for any errors, incompleteness, interruption or delay, action taken in reliance on any data, or for any damages resulting therefrom. Data may be intentionally delayed pursuant to supplier requirements.

All of the mutual fund and ETF information contained in this display was supplied by Lipper, A Thomson Reuters Company, subject to the following: Copyright © Thomson Reuters. All rights reserved. Any copying, republication or redistribution of Lipper content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Lipper. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Bond quotes are updated in real-time. Source: Tullett Prebon.

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Fundamental company data and analyst estimates provided by FactSet. Copyright FactSet Research Systems Inc. All rights reserved.


Lifeline Medical Alert Systems #lifeline, #life #line, #medical #alarm #for #seniors, #medical #alert, #medical #alarm,


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Medical Alert Systems & Devices

A simple, affordable and automated way to manage multiple medications with 24/7 monitoring

Canada’s # 1 Medical Alert Service

Philips Lifeline is an easy-to-use personal response service that lets you summon help any time of the day or night even if you can t speak. All you have to do is press your Personal Help Button, worn on a wristband or pendant, and a trained Personal Response Associate will ensure you get help fast. That s why Philips Lifeline provides the #1 Medical Alert Service to offer you something else: peace of mind.

Dependability is key to peace of mind. That s why doctors, hospitals, and professional caregivers trust our Medical Alert Service.

Only Philips Lifeline offers AutoAlert is the most widely adopted fall detection in North America.

For an added layer of protection, AutoAlert lets us know if you need help even if you can t. Its superior technology is designed to automatically detect most falls 1 – and achieve a low rate of false alarms – by distinguishing between actual falls and everyday activities like sitting, standing and reclining. It even gives you 30 seconds to cancel an alarm, or you can cancel by starting to stand back up.

Over 30% of the time seniors experiencing a fall can’t or don’t push their button potentially due to unconsciousness or confusion. Philips Lifeline with AutoAlert has automatically detected over 200,000 falls that services requiring a button to be pushed might’ve missed.

At the heart of all of our services is discrete call button, worn as a necklace or bracelet. It connects you or loved one to help in a case of a fall or an emergency 24/7. Our button is paired with an in-home Communicator which acts as a speaker phone for two-way voice communication with our Response Centre. All calls go directly to the Lifeline-owned Response Centre in Canada. You can always be sure that your call will be answered by highly trained and caring Response Associates who will access your profile, contact the people you’ve identified, and request the help you want. Our Response Associates will even follow up to confirm that help has arrived.

Live independently at home with the Lifeline Medical Alert Service

This year 1.4 million people, 65 and older will fall. If you or a loved one experience a medical emergency, time is of the essence. That s where Philips Lifeline can help, connecting you to the right help for the situation, 24 hours a day, 365 days a year at the push of a button. Whether you need emergency services or just the assistance of a family member or friend to help you get back on your feet, we can help.

Confidence, reliability, and peace of mind are qualities that you deserve when caring for an elderly parent or a loved one, and they re qualities that can be found with Lifeline.

Keeping seniors active with Philips Lifeline’s new GoSafe system

Ruth has been a Philips Lifeline subscriber after she experienced a fall over 14 years ago. While Ruth has enjoyed the feeling of confidence and security her Lifeline button service provides, she always wanted to feel the same peace of mind when she left the house. As an active senior who volunteers at the local hospital, walks her dog, and runs her own errands, Ruth jumped at the chance to get GoSafe, our new mobile medical alert service. Featuring the power of up to six location technologies, GoSafe gives seniors the assurance to get up and go while being protected by our 24/7, Canada-based response centre which protects more seniors than any other medical alert service. Watch Ruth’s story and how GoSafe is now a part of her active lifestyle.

*#1 claim based on number of subscribers. Available at participating Lifeline programs. GoSafe and HomeSafe do not detect 100% of falls. If able, users should always push their button when they need help.

Call Lifeline Now 1-866-784-1992


Innovation: 100 Years of the Moving Assembly Line #ford, #henry #ford, #manufacturing, #innovation, #assembly #line,


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100 Years of the Moving Assembly Line

New Goals for Advanced, Flexible Manufacturing

As today marks the 100th anniversary of the moving assembly line invented by Ford Motor Company under the leadership of Henry Ford, the company is building on its legacy of innovation by expanding advanced manufacturing capabilities and introducing groundbreaking technologies that could revolutionize mass production for decades to come.

Ford is rapidly expanding its advanced manufacturing capabilities and boosting global production to meet surging consumer demand. By 2017, Ford will increase its global flexible manufacturing to produce on average four different models at each plant around the world to allow for greater adaptability based on varying customer demand. Ford also projects 90 percent of its plants around the world will be running on a three-shift or crew model by 2017, which will help increase production time more than 30 percent.

“One hundred years ago, my great-grandfather had a vision to build safe and efficient transportation for everyone,” said Ford Executive Chairman Bill Ford. “I am proud he was able to bring the freedom of mobility to millions by making cars affordable to families and that his vision of serving people still drives everything we do today.”

Also in 2017, virtually all Ford vehicles will be built off nine core platforms, boosting manufacturing efficiency, while giving customers the features, fuel efficiency and technology they want anywhere in the world. Today, Ford builds vehicles on 15 platforms and has the freshest lineup in the industry.

“Henry Ford’s core principles of quality parts, workflow, division of labor and efficiency still resonate today,” said John Fleming, Ford executive vice president of global manufacturing. “Building on that tradition, we’re accelerating our efforts to standardize production, make factories more flexible and introduce advanced technologies to efficiently build the best vehicles possible at the best value for our customers no matter where they live.”

Ford’s recent expansions in global manufacturing and production have helped to retain 130,000 hourly and salaried jobs around the world.

They also put the company on pace to produce 6 million vehicles in 2013 – approximately 16 vehicles every 60 seconds around the world. By 2015, Ford will have opened the facilities below:

2011: Ford Sollers Elabuga Assembly Plant – Russia

2012: Ford Sollers Naberezhnye Chelny Assembly Plant – Russia

2012: Chongqing #2 Assembly Plant – China

2012: Craiova Engine Plant – Romania

2012: Ford Thailand Motors – Thailand

2013: Chongqing Engine Plant – China

2013: Nanchang Assembly – China

2014: Camaçari Engine Plant – Brazil

2014: Chongqing #3 Assembly Plant – China

2014: Chongqing Transmission – China

2014: Sanand Assembly Plant – India

2014: Sanand Engine Plant – India

2015: Hangzhou Assembly – China

2015: Ford Sollers Elabuga Engine Plant – Russia

Innovation that Changed the World

One hundred years ago today, Henry Ford and his team at Highland Park assembly plant launched the world’s greatest contribution to manufacturing – the first moving assembly line. It simplified assembly of the Ford Model T’s 3,000 parts by breaking it into 84 distinct steps performed by groups of workers as a rope pulled the vehicle chassis down the line.

The new process revolutionized production and dropped the assembly time for a single vehicle from 12 hours to about 90 minutes.

By reducing the money, time and manpower needed to build cars as he refined the assembly line over the years, Ford was able to drop the price of the Model T from $850 to less than $300. For the first time in history, quality vehicles were affordable to the masses. Eventually, Ford built a Model T every 24 seconds and sold more than 15 million worldwide by 1927, accounting for half of all automobiles then sold.

“Ford’s new approach spread rapidly, not only to other automakers but also to manufacturers of phonographs, vacuum cleaners, refrigerators and other consumer goods,” said Bob Casey, former curator of transportation at The Henry Ford, and author of The Model T: A Centennial History. “The assembly line became the characteristic American mode of production.”

In 1914, Ford instituted the “$5 workday,” a significant wage at the time, to enable his employees to buy the vehicles they built. The move created loyalty among Ford workers and is credited with giving rise to a new middle class of consumers unencumbered by geography, free to travel the open roads, to live where they please and chase the American dream.

Ford fans today are honoring Henry Ford and his ingenious moving assembly line. National Geographic Channel will mark the occasion with an in-depth new documentary as part of its “Ultimate Factories” program airing Friday, Oct. 18. Information about the documentary and local air times can be found here .

New Technologies Shape the Future

Ford already is realizing the benefits of advanced manufacturing technologies that will shape the future. For example, Ford engineers are developing a highly flexible, first-of-its-kind, patented technology to rapidly form sheet-metal parts for low-volume production use. The technology, known as Ford Freeform Fabrication Technology, or F3T. will lower costs and speed delivery times for prototype stamping molds – within three business days versus two to six months for prototypes made using conventional methods.

Additionally, Ford is expanding its capabilities in 3D printing. which creates production-representative 3D parts layer by layer for testable prototypes. With 3D printing, Ford can create multiple versions of one part at a time and deliver prototype parts to engineers for testing in days rather than months.

Ford also is investing in robotic innovations to improve vehicle quality and production efficiencies. For example, the company’s new dirt detection system uses robotic vision to create a digital model of each vehicle in final assembly to analyze paint and surface imperfections in comparison with a perfect model. The result has been significantly improved surface quality on Ford vehicles and more time for operators on the assembly line to address complex issues. Robotics, in this case, allow Ford to work smarter in improving products for customers and allowing workers to focus on more critical thinking tasks.

Finally, through Ford’s “virtual factory ,” the company can improve quality and cut costs in real-world manufacturing facilities by creating and analyzing computer simulations of the complete vehicle production process. This includes simulations of how assembly line workers have to reach and stretch when building a vehicle to ensure the work conditions meet Ford ergonomic standards. Since the implementation of this virtual process in 2001, the number of ergonomic issues during physical builds has been reduced by nearly 20 percent.

“Technologies such as 3D printing, robotics and virtual manufacturing may live in research but have real-world applications for tomorrow and beyond,” said Paul Mascarenas, chief technical officer and vice president, Ford Research and Innovation. “We use Henry Ford’s spirit of innovation as a benchmark for bringing new technologies into the manufacturing process.”


The Soyuz spacecraft #soyuz, #soyuz #t, #soyuz #tm, #soyuz #tma, #soyuz-tma, #soyuz #acts, #sojuz, #sojus,


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Conceived in 1960, the Soyuz spacecraft became the second-generation Soviet vehicle capable of carrying humans into space. Unlike its predecessor — a one-seat Vostok — the Soyuz would be able to conduct active maneuvering, orbital rendezvous and docking. These capabilities were all necessary for a flight around the Moon and to support lunar landing. In the early scenario of a circumlunar mission, defined in 1962, the Soyuz complex would be assembled in the low-Earth orbit out of three consecutively launched elements.

SOYUZ 7K-OK VARIANT

Compared to its predecessors — Vostok and Voskhod — the three-seat Soyuz offered enormous advantages. The most important feature of the new ship would be its rendezvous and docking system.

Despite its roots in the Soviet lunar exploration effort, the first Soyuz spacecraft to reach space was intended for missions in the Earth’s orbit. Designated 7K-OK, its main goal was the rehearsal of orbital rendezvous, which would be crucial for a lunar expedition. Missions of Soyuz 7K-OK also had the political goal of shortening the hiatus in the Soviet human space flight program.

On August 28, 1965, the leading designer Aleksei Topol brought Boris Chertok the official schedule for the development of 7K-OK, which had just been approved by Korolev. Chertok could hardly believe his eyes, because by December of the same year, the document required to build and outfit Soyuz prototypes for 13 different tests.

In the second half of 1965, after several years on a drawing board, the USSR s new-generation manned spacecraft started appearing in metal. The final assembly of the Soyuz was centered at Hall 44, led by G.M. Markov, at the Experimental Machine-building Plant, ZEM, in Podlipki, which traditionally served as the manufacturing base for the adjacent OKB-1 design bureau.

On November 28, 1966, the USSR launched the first test mission of the new-generation Soyuz spacecraft under a cover name of Kosmos-133. The unmanned vehicle was expected to play a role of the active ship during rendezvous maneuvers with a passive spacecraft scheduled for launch 24 hours later. However things did not go according to plan.

Hoping to recover quickly from major technical problems in the maiden mission of Soyuz on Nov. 28, 1966, Soviet engineers rushed to prepare the launch of the second spacecraft remaining from the aborted dual flight. With a much better understanding of technical and organizational challenges, leaders of the Soyuz project decided to send the 7K-OK No. 1 vehicle on a solo mission on December 14, 1966. However this time, the launch attempt brought a fatal disaster.

The third unmanned test launch of the Soyuz spacecraft aimed to finally deliver a clean performance of the new vehicle and thus open the door for the resumption of the politically important manned space flight in the USSR after a two-year hiatus. The mission lifted off in February 1967 and could be considered a resounding success for the new-generation spacecraft. if not for a nasty surprise at the very end of the flight.

The first manned launch of the Soyuz spacecraft on April 23, 1967, ended catastrophically 24 hours later with the loss of Vladimir Komarov in crash landing due to failure of the main parachute to deploy.


Why Your Mortgage Interest Tax Deduction Doesn t Really Help Much – The Motley Fool


#mortgage tax deduction

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Why Your Mortgage Interest Tax Deduction Doesn t Really Help Much

Jan 11, 2015 at 9:33AM

No tax deduction is more misunderstood than the mortgage interest tax deduction. By law, taxpayers can deduct interest paid on their mortgage, but most middle-class taxpayers save little or nothing at all from the mortgage interest tax deduction.

In fact, the mortgage interest tax deduction is more for the benefit of millionaires than it is the average American.

How the mortgage interest deduction works
You can deduct all of your mortgage interest on up to $1 million in principal on the home in which you live. Thus, if you pay interest on a $100,000 mortgage, all of it is deductible. If you pay interest on a $1.5 million mortgage, only the interest on the first $1 million of principal is tax deductible.

But there are limitations. To qualify for the mortgage interest tax deduction, you have to itemize when you file your taxes. By itemizing, you forgo the standard deduction, which starts at $6,200 for singles and $12,400 for couples.

The standard deduction is a baseline. You can opt for the standard deduction, and not itemize, at your discretion. Thus, whether or not the mortgage interest deduction helps your financial being rests on whether or not it pushes you over the standard deduction.

Consider this scenario
You and your spouse paid $10,000 of mortgage interest on your $200,000 home this year. You also had $3,000 in other tax deductions.

When you itemize, you’ll be able to claim $13,000 in tax deductions. If instead you choose not to itemize, you’ll get $12,400 just by virtue of being a married taxpayer.

Thus, the net effect is that only $600 of your mortgage interest is tax deductible, because your deductions exceed the standard deduction for your situation by only $600. If you end up in a marginal tax bracket of 25%, you’ll save about $150 in taxes for paying $10,000 in mortgage interest — not much more than a rounding error.

Tax savings for high earners
All in all, the mortgage tax deduction is a (small-f) fool’s game for middle-class earners in low-cost areas, and a boon for high-income earners in high-cost areas.

Someone who owns a million-dollar home and who pays interest on a $1 million mortgage will inevitably be able to deduct more of their mortgage interest than someone who pays interest on a $100,000 mortgage.

So, while the mortgage interest tax deduction is touted as one of the best reasons to buy a home, it often provides little help to people who don’t live in a modern day McMansion. Buyer beware.

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