Beautiful wind turbines
I seem to be in the minority when it comes to the physical appearance of wind turbines. When I drive west on Interstate 40, I’m captivated by the sight of scores of huge turbines spinning leisurely in the breeze in western Oklahoma. But many, particularly those who live near the things, find them to be an eyesore.
Here’s a Web site that has posted images of what are supposed to be more attractive designs. I like the one above, which is designed to be part of a pedestrian walkway. I think such a walkway is proposed as part of the new Crosstown Expressway. Why not use something like this to focus on our state’s strong energy sector and heritage?
Don Mecoy
Business Writer
IRS — the instruction manual
The Internal Revenue Service produces a lot of forms. Fortunately, the agency also issues a lot of instructions on how to obtain, fill out and submit those forms. The main instruction manual titled “Your Federal Income Tax” is available for free, and this year for the first time, is also available in Spanish.
From the agency:
Are you facing a lot of different tax questions this year?
IRS experts have pulled together an overview of common tax issues in one convenient place — Publication 17, Your Federal Income Tax. This publication, available on the IRS.gov, contains helpful information for individual taxpayers.
This year for the first time, the IRS will issue a Spanish language version of this popular publication.
The on-line version of Publication 17 contains electronic links that make finding your answer simple. Both the downloadable PDF and on-line 2008 Publication 17 have over 900 hyperlinks. These hyperlinks allow users to immediately go to other parts of the publication, reducing searches to just a few clicks.From stock sales to student loans, this nearly 300-page publication holds the answers to many of your questions:
- Need help with a Roth IRA? Try Chapter 17 for Individual Retirement Arrangements.
- Do you have a new child in the house? See Chapter 34 for the Child Tax Credit.
- Are you selling stock for the first time? Check Chapter 16 for reporting capital gains. If you’re unloading losers, reporting capital losses is there, too.
- Do you need to report the profit on your home sale? See Chapter 15 for some good news. Generally, if you qualify you only need to report the sale of your home if your gain is more than $250,000 ($500,000 if married filing a joint return).
And the best part about Publication 17? It’s free. To get a copy, visit the IRS Web site at IRS.gov or call 800-TAX-FORM (800-829-3676).
Don Mecoy
Business News
More on uninsured motorists
I got several emails after my story on Oklahoma’s high number of uninsured motorists appeared in today’s paper. One came from a group I tried to reach while writing the story (a lot of offices were closed Tuesday due to the ice storm). Uninsured motorists is a major legislative issue for the the Independent Insurance Agents Association of Oklahoma. Here is a recent news release from that group.
IIAO will focus on five issues during the legislative session:
Uninsured Motorists – IIAO supports legislative efforts to simplify the uninsured motorist selection/rejection process. Under this bill when an application is taken, an insured would make his/her selection/rejection of uninsured motorist. It would not be necessary during the lifetime of the policy to have the form signed again. Currently, a new form must be signed when there is a change in drivers, an additional automobile is purchased or a change in liability limits. Agents spend countless hours currently attempting to retrieve signed uninsured motorists forms.
Proof of Financial Responsibility – As a result of the passage of the instant automobile liability verification system that became law January 1st, security verification cards used to verify insurance for vehicles insured through excess and surplus lines carriers is not in compliance with the financial responsibility provisions of the compulsory Automobile Insurance Law. Current law does not allow a policy or bond to be issued unless by an insurance company or surety company “authorized” to do business in Oklahoma. Policies issued by excess and surplus lines carriers do not meet this requirement. It is estimated that approximately $40 million in insurance premiums are written in Oklahoma each year by these carriers. Oklahoma law recognizes that such coverage written by surplus lines carriers is fully valid and enforceable to the same effect as like contracts issued by authorized insurers. IIAO supports change in current statute that will allow for insurance written by authorized insurance or surety companies and surplus lines carriers, as allowed by Title 36, Section 1106, to be recognized as proof of financial responsibility.
Lawsuit Reform – IIAO supports passage of lawsuit reform with strong provisions of SB 507, passed by the Legislature in 2007 but vetoed by Governor Henry.
Health Insurance Mandates – IIAO will continue to oppose any additional mandates to health insurance policies. Mandates, while well-intentioned by those select groups that support them, drive up the cost of health insurance and result in fewer Oklahomans being able to afford health insurance. Currently Oklahoma has 36 health insurance mandates and while none of these mandates alone have caused a significant increase in premiums, their cumulative effect has caused premiums to be over 30% higher than they would be without the mandates.
Workers’ Compensation – IIAO supports legislation to address recent rulings by the Oklahoma Supreme Court that ruled certain provisions of the 2005 reform bill be ruled invalid. Legislation is needed to correct conflicting language in various sections of the law relative to temporary total disability (TTD) as well as a provision of the reform bill which overturned exclusive remedy to injured workers to workers’ compensation insurance. The law needs to be amended so an injured worker can only find remedy in workers’ compensation court and not district court. IIAO also supports legislation to address the manner in which workers’ compensation court judges are appointed whether by appointment, election, term limits or reaffirmation.
Business Writer
My $40 eyeglasses
I recently bought a pair of prescription eyeglasses on the Internet. I had read that many consumers were satisfied with the products produced by cut-rate companies operating online. I figured that even if I didn’t like my glasses, I could use them as spares, and it only cost about 40 bucks.
Turns out, I’m pretty happy with what I got. Granted, my prescription is a simple one. No astigmatism. No bifocals.
My wife says the glasses look fine. I don’t look at them, only through them, so that was important.
Total price, after a $5 coupon and including shipping, was $40.05. Next up, some cheap prescription sunglasses.
Don Mecoy
Business Writer
Circuit City liquidation disappointing
I ventured out to a local Circuit City a few days ago to see if there were any bargains as liquidators sell off the company’s inventory. I didn’t find much. Most of the merchandise is reduced by 10 percent, but the mark-downs are based on full retail prices. Prior to its forced liquidation, Circuit City regularly offered good sale prices.
I bought a Panasonic HDTV at Circuit City in November for $799, which was such a good deal that the guy who checked me out called over a manager to double-check the price. On Saturday, it was marked at $1299. Even with the 10 percent discount, it was no bargain.
Our retail reporter, Jennifer Palmer, visited Circuit City last week and found shoppers unimpressed with the prices. Several news organizations have produced stories showing similar disappointment with the lack of deals.
CNN reports that liquidators, who buy out the company stock and then sell it off, don’t give the stuff away.
Because the liquidators don’t want to lose money, it’s not uncommon for clearance sales to begin at 10% to 30% off for the first few weeks, with deeper discounts staggered over the period closer to the end of the closeout sale.
However, (George) Whalin (president and CEO of Retail Management Consultants), said liquidators sometimes set those discounts based on manufacturers’ prices – which can be 10 percent to 15 percent higher – rather than the price at the store when it closed.
Consequently, he said, consumers could end up paying more than they would have just before the “out-of-business sales” signs went up.
The key for bargain hunters is exercising patience. Liquidators will offer deeper markdowns.
Don Mecoy
Business Writer
Monty Python selling free content (no, they’re not…)
If you love Monty Python (and who doesn’t?), you can watch a number of the group’s classic skits for free on the Internet. But Monty Python wants to sell DVDs of the old material. So they’re giving it away. Confused? Here’s the explanation:
“We’re letting you see absolutely everything for free. So there! But we want something in return. None of your driveling, mindless comments. Instead, we want you to click on the links, buy our movies & TV shows and soften our pain and disgust at being ripped off all these years.”
And it’s working. Mashable.com notes that sales of Monty Python DVDs at Amazon.com jumped dramatically with the YouTube promotion.
Head over to the Monty Python channel at YouTube to see more high-quality versions of the clips.
Don Mecoy
Business Writer
Ode to Steak ‘n Shake
I really like Steak ‘n Shake, which opened a store in Edmond just four years ago. The burgers are very good. The fries are excellent. The shakes are to die for. My kids clean their plates when we dine there.
But Roger Ebert (yes, that Roger Ebert) loves Steak ‘n Shake. No, he adores Steak ‘n Shake. He grew up eating at the company’s black-and-white shops. How much does he cherish the 75-year-old chain? Read on:
If I were on Death Row, my last meal would be from Steak ‘n Shake. If I were to take President Obama and his family to dinner and the choice were up to me, it would be Steak ‘n Shake–and they would be delighted. If the Pope were to ask where he could get a good plate of spaghetti in America, I would reply, “Your Holiness, have you tried the Chili Mac or the Chili 3-Ways?”
There’s a whole lot more at Ebert’s blog, which has become a regular staple of my Web surfing fare.
Don Mecoy
Business Writer
What’s the product?
Some viral videos produced by advertising agencies are great fun. Here’s one that brings a smile (via kottke):
Don Mecoy
Business Writer
Free stuff from the IRS
I love free stuff. The Internal Revenue Service is offering free transcripts of your past tax return information. Here’s the scoop:
There are two easy and convenient options for obtaining free copies of your federal tax return information — tax return transcripts and tax account transcripts — by phone or by mail.
A tax return transcript shows most line items from the tax return (Form 1040, 1040A or 1040EZ) as it was originally filed, including any accompanying forms and schedules. It does not reflect any changes you, your representative or the IRS made after the return was filed. In many cases, a return transcript will meet the requirements of lending institutions such as those offering mortgages and student loans. You should receive your tax return transcript within 10 working days from the time the IRS receives your request.
A tax account transcript shows any later adjustments either you or the IRS made after the tax return was filed. This transcript shows basic data, including marital status, type of return filed, adjusted gross income and taxable income. The IRS does not charge a fee for transcripts, which are available for the current and past three years. Allow 30 calendar days for delivery of a tax account transcript.
To request either transcript:
- Phone: Call 800-829-1040 and follow the prompts in the recorded message.
- Mail: Complete IRS Form 4506-T, Request for Transcript of Tax Return.
If you still need an actual copy of a previously processed tax return, it will cost $57 per tax year and take much longer. Complete Form 4506, Request for Copy of Tax Form, and mail it to the IRS address listed on the form for your area. Please allow 60 days for actual copies of your return. Copies are generally available for the current and past six years.
Forms 4506-T and 4506 can be found on the IRS Web site at IRS.gov or by calling the IRS forms and publications order line at 800-TAX-FORM (800-829-3676).
A printable .pdf form to request a transcript is available here. A form to request a copy of a past tax return can be found here.
Don Mecoy
Business News
Ageless ads
Here’s a little slice of nostalgia from my childhood: a Post Grape Nuts commercial featuring Andy Griffith and Don Knotts. I love the fact that Barney puts one over on Andy.
And Jed and Jethro talk about, well, just watch what they talk about over a bowl of Kellogg’s Corn Flakes.
Several more bowls of cereal commercials here.
Don Mecoy
Business Writer
