QUOTE OF THE WEEK

"Man must cease attributing his problems to his environment and learn again to exercise his will = -- his personal responsibility."
--Albert Schweitzer,
German philosopher, musician, theologian and physician

ESTATE-TAX DEBATE HEATS UP AS THE AUGUST RECESS APPROACHES

Supporters and opponents of restoring the estate tax are calling on Congress to make a decision before the August recess. The estate tax stands at 0% but will rocket to 55% in 2011 for anyone with assets of more than $1 million. Estate-tax supporters, who say the revenue produced could help close the deficit and help state and local governments, want a bill that would return the tax to 2009 levels but on a more progressive scale -- estates would pay either nothing, 45%, 50% or 55% depending on their assets. Estate-tax opponents support a compromise bill that would set the tax rate at 35% with exemptions for anyone with less than $5 million in assets. The Hill

HOW SOME BUSINESSES GOT THEIR NAMES

I found this article about how some popular businesses got their names. I thought you might find it interesting.

http://www.openforum.com/idea-hub/topics/innovation/article/how-16-great-companies-picked-their-unique-names-glen-stansberry

STEINBRENNER, THE OWNER OF THE YANKEES, SAVES MILLIONS IN TAXES

You've probably heard George Steinbrenner, the controversial owner of the the New York Yankees, died last week. Good tax planning on his part. As we all know, the estate tax itself "expired" this year. Under current law, it roars back on January 2011 with a $1 million tax-free "unified credit" and 55% top rate. Steinbrenner is estimated to have been worth $1.1 billion, which suggests that his estate will avoid $600 million in tax.

QUOTE OF THE WEEK

"The block of granite which was an obstacle in the path of the weak, becomes a steppingstone in the path of the strong."
--Thomas Carlyle,
Scottish satirical writer

SNAPSHOT OF THE FINANCIAL OVERHAUL BILL

(Wall Street Journal) -- A summary of the financial overhaul bill is posted at WSJ.com. See it by clicking:

http://online.wsj.com/article/SB10001424052748703722804575369072934590574.html?mod=WSJ_hpp_MIDDLETopStories#project%3DFINCHART1007%26articleTabs%3Dinteractive

HELP BAIL ME OUT!

I'm excited to tell you that I have chosen to serve as an MDA Jailbird and am being Locked-Up...that's right, I'm going behind bars to help Jerry's Kids©. In order to be released on good behavior, I need your help to raise my “bail.”

My bail has been set at $1,600.00 and if everyone I know makes a tax-deductible donation, I’ll reach my goal quickly!

Just click here to make a secure, online donation before 08/17/10. This is a fun event benefiting individuals and families served by MDA who are affected by neuromuscular disease. I am honored to partner with MDA, and help this important cause.

Don't hesitate to call or e-mail me with any questions.

Thanks in advance for your help. Together we'll make a difference!

Larry

P.S. I'm counting on you, click here to donate.