Here's what you saw on Good Day Alabama on April 21, 2015:
JEH JEH LIVE - Jubilee Joe's is bringing Bourbon Street to Pelham on Saturday, April 25th for the 8th Annual Pepsi-Jubilee Joe's Crawfish Boil. The event will return to the Pelham Event Center from 2-10pm and feature a "Touch of New Orleans" this year. Event organizers are working with local artists to construct and paint a 100foot long x 15foot high mural of Bourbon Street. It will be a fun relaxing event for the entire family with talented award winning local and national musicians. This year's headliner is the nationally known band Sister Hazel with thousands of loyal fans throughout the Birmingham area. Ethan Asters, Sarah Green and the Sunday Lovers, and Roux Du Bayou also provide live music. Cajun/Zydeco dance instructors will be on hand interacting and teaching the crowd dance movers along with street performers including a fire dancer, magician, flow artist, statue men, stilt walker, juggler, tarot card reader, face painter and caricature artist. There will also be a variety of vendors at the event selling cajun merchandise. There is something to do for the entire family including a large kids corner with activities and games including a crawfish race. Children 12 and under can enter the festival at no charge when accompanied by an adult with a paid ticket. The event will also feature thousands of pounds of fresh Louisiana crawfish from Jubilee Joe's restaurant. A portion of the festival proceeds will benefit the "Boot Campaign" which is to provide assistance to military personnel, past and present, and their families. For more information, visit bootcampaign.com. Tickets are $24 to get into the festival and $25 for all you can eat crawfish. For more information, visit jubileejoes.com.
MONEY TUESDAY - Are Charitable Gift Annuities a Good Idea? With a charitable gift annuity, you make a gift of cash or securities to a charity and the charity promises to pay you a monthly (or quarterly) income for life. There are both advantages and disadvantages to this strategy:
• You receive an income you can't outlive. Like most annuities, the promise is that you'll receive payments for as long as you live. Typically you can have the income paid over two lives (presumably, you and your spouse) but the annual payouts will be smaller.
• You receive a partial tax deduction for the gift. You don't receive a 100% tax deduction because you are receiving 'something of value' (monthly payments) in return for your gift. The amount of your deduction will depend on your age (life expectancy) and a discount rate (interest rate) set by the government. The charity should be able to estimate the tax deduction you will receive.
• It can allow you to convert low basis securities or assets that don't produce income into an income stream without immediate taxation on the sale of those securities.
• The income you receive is not adjusted for inflation.
• At death, there is nothing left for heirs.
• Your income stream is subject to taxes based on the nature of the assets you gifted to the charity. For example, if you gifted highly appreciated securities, a portion of every distribution to you will be treated as capital gains.
• The promise to pay is based on the creditworthiness of the charity.
Ultimately, this strategy is best suited for very healthy people who have a strong desire to give to a particular charity. For example, if you planned to give $100,000 to your alma mater at your death, why not receive a tax deduction now and income stream for the rest of your life?
How will the Required Minimum Distributions (RMDs) work?
Having a trust as the beneficiary of a retirement account is fraught with potential pitfalls and should not be considered without careful professional planning. A non-spouse beneficiary of a retirement account basically has two choices regarding taking RMDs:
1.Withdraw 100% of the funds no later than December 31st of the fifth year after the year of death of the owner. Withdrawals are taxed in the year withdrawn (no taxes on Roth IRA distributions)..
2.Begin taking RMDs no later than December 31st of the year following the year of death of the owner. If the trust beneficiary is three children, for example, then the life expectancy of the oldest child will be used for calculating the annual RMDs. RMDs must be recalculated each year.
If the beneficiary is a trust, it's possible that #1 above is your only choice. This is where you'll need the advice of a professional…presumably the person who drafted the trust document or your CPA. Ideally, you would roll over your husband's Roth IRA to yourself and postpone RMDs during your lifetime. Failure to take a timely RMD is subject to a 50% penalty so mistakes can be very expensive!
BETH K - Two Nutrients to Lower Blood Pressure! We always talk about reducing sodium to lower blood pressure but what about the nutrients we need more of to lower blood pressure? But there are some nutrients that we may not be getting enough of that can help lower our blood pressure! Getting more potassium seems to help lower our blood pressure but you've got to get a lot of it – up to 4700 mg a day! Fruits, vegetables, milk and yogurt are some of the best sources. This is one of the reasons we recommend getting a lot of fruits and vegetables in our diet. Frozen vegetables can be just as good. Canned are a little lower in potassium and tend to be higher in sodium so they are not quite as good as fresh.
Potassium Recommendation: 3500 - 4700 mg a Day!
- baked potato with skin: 850 mg
- 1 cup yogurt: 500 mg
- ½ cup lima beans: 500 mg
- 1 cup orange juice: 475 mg
- 1 medium banana: 450 mg
- 1 cup milk: 400 mg
- 3 ounces canned salmon: 300 mg
- ½ cup pinto beans: 300 mg
- ¼ cup pistachios: 300 mg
Some research shows that Americans may be deficient in magnesium – but some water
sources are high in magnesium. You need to get 350 to 400 mg day – which looking at the sources of magnesium you see below – is not always easy. Focus on nuts, spinach, and bran cereals to get your daily dose!
Magnesium Recommendations: 400 mg a day
- 1 ounce almonds: 80 mg
- ½ cup cooked spinach: 78 mg
- 1 cup raisin bran cereal: 77 mg
- 1 ounce cashews: 74 mg
- 1 ounce peanuts: 50 mg
- 1 medium baked potato: 48 mg
- ½ cup cooked pinto beans: 43 mg
- ½ cup brown rice: 42 mg
H21 DAVID BALDACCI - Following The Forgotten, Zero Day and The Escape, #1 New York Times bestselling author David Baldacci introduces a startling, original new character: a man with perfect memory who must solve his own family's murder. Called a "master craftsman" by the Associated Press and "one of the greatest thriller writers of the last decade" by Strand Magazine, Baldacci is once again at the top of his game in MEMORY MAN, spinning an elaborate tale that demonstrates his breadth and depth as one of the most celebrated writers today.
ABOUT MEMORY MAN:
Amos Decker's life changed forever—twice. The first time was on the gridiron. A big, towering athlete, he was the only person from his hometown of Burlington ever to go pro. But his career ended before it had a chance to begin. On his very first play, a violent helmet-to-helmet collision knocked him off the field for good, and left him with an improbable side effect—he can never forget anything.
The second time was at home nearly two decades later. Now a police detective, Decker returned from a stakeout one evening and entered a nightmare—his wife, young daughter, and brother-in-law had been murdered.
His family destroyed, their killer's identity as mysterious as the motive behind the crime, and unable to forget a single detail from that horrible night, Decker finds his world collapsing around him. He leaves the police force, loses his home, and winds up on the street, taking piecemeal jobs as a private investigator when he can.
But over a year later, a man turns himself in to the police and confesses to the murders. At the same time a horrific event nearly brings Burlington to its knees, and Decker is called back in to help with this investigation. Decker also seizes his chance to learn what really happened to his family that night. To uncover the stunning truth, he must use his remarkable gifts and confront the burdens that go along with them. He must endure the memories he would much rather forget. And he may have to make the ultimate sacrifice.
BIO: David Baldacci is a global #1 bestselling author. His books are published in over 45 languages and in more than 80 countries, and have been adapted for both feature film and television. David Baldacci is also the cofounder, along with his wife, of the Wish You Well Foundation, a nonprofit organization dedicated to supporting literacy efforts across America. Still a resident of his native Virginia, he invites you to visit him at DavidBaldacci.com and his foundation at WishYouWellFoundation.org.
OAK MOUNTAIN SPRING FAIR - The Oak Mountain Spring Fairs runs April 23 through May 3. It includes the World's Tallest travelling Farris wheel, alligator wrestling, and so much more! John Ruffino tells us all about what we can expect this year. Attractions include the live stingray encounter, a balloon stunt show, and Lady Houdini. Rides include the Swing Tower, the Nitro Blitzer, the Cliff Hanger, and Spidermania. There will be live music from Los B-OK, Nena Guzman, and Sonora Tropicana. For tickets or more information, visit Oakmountainstatefair.com.
WILDLIFE EXPERT - Stuart R. Goldsby is the Regional Hunter Education Coordinator for Alabama Division of Wildlife and Freshwater Fisheries. He discusses wildlife management. For more information call Outdoor Alabama's Wildlife section 334-242-3469, Enforcement section 334-242-3467, Fisheries section 334-242-3471, or visit outdooralabama.com.
MYSTERY DINNER THEATER - Through Wood Manor Theatre, Chanel Wood and her husband Justin produce Murder Mystery Theater. She says they always loved Halloween and theatre. One day they thought they would combine the two and now have been producing and directing shows for over 12 years. Chanel decided to leave her job at McWane Science Center as the Event coordinator and pursue her true passion! They now offer 4 different productions, two that are kid friendly and can travel with the troupe of actors to put on shows for corporate events, family, school reunions, field trips, and church groups! They can tailor any of our scripts to meet needs and make events extra memorable! They have a fantastic group of actors and a wonderful crew that help bring the crazy ideas to life! Now you can see the latest production at the Stardome Comedy Club in the Broadway Room. This family friendly show runs April 30 through May 2nd at 7pm each night. For tickets or more information, visit stardome.com.