June 27, 2013 Page 7 Looking Up Finance Alive on a Pale Blue Dot Share Your Money Before You Die By Bob Eklund planned trajectory for the remainder of its By Jason Alderman consider funding a 529 State On July 19, NASA’s Cassini spacecraft will Saturn mission in search of the best time to Now that the long-debated estate Qualified Tuition Plan for them. be turned to image Saturn and its entire ring image the Earth when it was unobstructed by tax rules have finally been settled, Any interest the account earns is system during a total eclipse of the Sun, as Saturn or its rings, and when there weren’t other let’s get real: Despite all the hoopla not subject to federal (and in most it has done twice before during its nine years pressing scientific observations that rendered raised, most people probably cases, state) income tax; plus, in orbit. But this time, the images that will the idea impossible. Imaging any planetary would never be impacted whether many states offer tax deductions be collected have been specifically designed body close to the Sun necessitates doing so the lifetime estate tax threshold for contributions made to their for something very special. They will capture, when the Sun is completely blocked, so that had stayed at $5.12 million or own 529 Plans. And don’t worry: in natural color, a glimpse of our own planet no undiluted sunlight can enter the cameras reverted to $1 million. In the end, If one child decides not to attend next to Saturn and its rings, taken from nearly or other Cassini instruments and damage their it actually went up a bit to $5.25 college, you can always transfer the a billion miles away. “It will be a day,” says sensitive detectors. Such opportunities during million for 2013. account balance to another without penalty. Cassini imaging team leader Carolyn Porco of Cassini’s orbital tour are rare. Even if your estate will only be a fraction Roth IRAs for kids. If your minor children the Space Science Institute in Boulder, Colorado, When all was considered, the best time for of that amount, it still pays to have a plan for or grandchildren earn income (allowances “for all the world to celebrate.” this event was found on July 19, 2013. For “Ever since we caught sight of the Earth several hours on that day, the spacecraft was “If your finances are in good shape, there’s no reason not to start sharing among the rings of Saturn in September 2006 once again going to be in Saturn’s shadow. the wealth while you’re still around to enjoy helping others.” in a mosaic that has become one of Cassini’s Unlike previous images of Earth by NASA most beloved images, I have wanted to do it all interplanetary spacecraft since the days of distributing your assets. If your finances are and gifts don’t count), you may fund a Roth over again, only better,” says Porco. “And this Voyager, this will be the first time the world’s in good shape, there’s no reason not to start IRA on their behalf. You can contribute up time, I wanted to turn the entire event into an people will know ahead of time that their sharing the wealth while you’re still around to $5,500 or the amount of their taxable to enjoy helping others. It also doesn’t hurt earnings for the year, whichever is less. that you can reap significant tax advantages Your contributions are made on an after-tax “They will capture, in natural color, a glimpse by distributing a portion of your assets now. basis but the earnings grow, tax-free, until of our own planet next to Saturn and its rings, taken make sure you are on track to fund your own the account is tapped at retirement.Fund someone’s benefits. Many peopleBefore you start doling out cash, however, from nearly a billion miles away.” retirement, have adequate health insurance, cannot afford health or other insurance and so can pay off your mortgage and are otherwise forego coverage, putting themselves just one debt-free. You wouldn’t want to deplete serious illness or accident away from financial opportunity for everyone around the globe, at picture is being taken. “My sincere wish is that your resources and then become a financial disaster. Many also can’t fund their 401(k) plan the same time, to savor the uniqueness of our people the world over stop what they’re doing burden on others. or IRA. Consider applying your tax-exempt beautiful blue-ocean planet and the preciousness at the time the Earth picture is taken to revel If you can check all those boxes, consider gifts to help loved ones pay for these critical of the life on it.” Porco was also involved in co- in the sheer wonder of simply being alive on these options: benefits. You’ll not help protect them from initiating and executing the famous “Pale Blue a pale blue dot of a planet, and to appreciate Avoid the gift tax. You can give cash or catastrophe, but also greatly increase their Dot” image of Earth taken by NASA’s Voyager the ever-widening perspective of ourselves property worth up to $14,000 per year, per long-term financial self-sufficiency. 1 from beyond the orbit of Neptune in 1990. and our world that we have gained from our individual, before you’ll trigger the federal Charitable contributions. If you’re planning The intent for the upcoming mosaic is to interplanetary explorations,” says Porco. gift tax. (Married couples filing jointly can to leave money or property to charities in your capture the whole scene, Earth and Saturn’s rings “We are dreamers, thinkers, and explorers, give $28,000 per recipient.) You’ll probably will, consider beginning to share those assets from one end to the other, in those particular inhabiting one achingly beautiful planet, never have to pay a gift tax, however, since now, if you can afford to. You’ll be able to camera filters—red, green and blue—that can yearning for the sublime and capable of the you’re allowed to bestow up to $5.25 million enjoy watching your contributions at work– be composited to form a natural color view, or magnificent,” she adds. “Let’s celebrate that in gifts during your lifetime above and beyond and be able to deduct them from your income what human eyes might see at Saturn. It also and make this one day a day the whole Earth the annual $14,000 excluded amounts before taxes. Read IRS Publication 526 for details. includes imaging the Earth and the Moon with smiles in unison.” the gift tax kicks in– which for most of us Before taking any of these actions, consult the high-resolution camera--something not yet Images: http://www.ciclops.org/view_ means never. Read IRS Publication 950 (at your financial advisor to make sure your done by Cassini. event/193/A_Day_to_Celebrate_the_Pale_Blue_ www.irs.gov) for details. own bases are covered. If you don’t have an Three years ago, Porco and her staff members Dot http://www.ciclops.org/view_media/38296/ Pay for education. If college is still far off advisor, visit www.fpaforfinancialplanning. at CICLOPS began carefully examining Cassini’s Illuminated_View • for your children, grandchildren or others, org for help locating one. • PUBLIC NOTICES NOTICE INVITING BIDS ESTIMATED QUANTITIES PER EACH YEAR Hawthorne, CA 90250, phone (310) 349-2980. Contract with the City. Section 1777.5 of the Labor Code shall be with of Public Works, Engineering Division (second (A Cash Contract) Bidders may also obtain copies of the Plans and the prime contractor. floor), 4455 West 126th Street, Hawthorne, CA Approx. Specifications for the contemplated work at this A list of subcontractors shall be submitted with the 90250 (310) 349-2980 Clerk of the City of Hawthorne, California at ITEM QTY. DESCRIPTION same location. bid on the form provided by the City. NONDISCRIMINATION NOTE TO PROSPECTIVE BIDDERS: THE Sealed proposals will be received by the City public, are invited to view this proceeding. 6 20 Trees Plant 24 gallon tree with root barriers and addressed to the City Clerk. This proposed Contract is under and subject to or religion of such persons. If you have questions and/or need and stumpsenvelopes provided, marked “SEALED BIDS,”origin or ancestry, sex, age, sexual orientation, 5 15 Trees 40”- or above Removal of treesEXPRESS MAILING OPTION IS REQUIRED.because of the race, color, place of nationalPORTUNITYproposals. Bids must be returned in the special 4 5 Trees 30”-40” Removal of trees and stumpsIS NECESSARY, OR $50.00 IF FEDERALing in, discrimination in employment of persons-WAGES AND EQUAL EMPLOYMENT OPas the City, reserves the right to reject any and all 3 15 Trees 0-30” Removal of trees and stumps$25.00 WILL BE CHARGED IF MAILING-subcontractors as he may employ from engagCouncil of the City of Hawthorne, also referred to Complete trim of various trees$50.00 (non-refundable). AN ADDITIONALContractor shall not engage in, nor permit suchby the bid documents and specifications.Proposal Requirements and Conditions. The City Minimum trim of various treesCOST OF PLANS AND SPECIFICATIONS ISIn performance of the terms of this contract, theEach bidder must supply all information requiredNo bid will be considered unless it conforms to the 1 200 Each 2 1,800 Each on4:00 p.m. Proposals will be publicly his office in the City Hall, 4455 West 126th Street, Hawthorne, CA, until July 23, 2013 opened and recorded on a Bid List at 4:30 p.m. on the same day in the City Clerk’s office. Bidders, as well as the general for the following: 8 200 L.F. Install root barrier the form of a bid bond, cashier’s check, certified (EEO) and Federal Labor Provisions. The EEO in the Department of Public Works, En-contact Akbar Farokhi, Senior Engineer,PERFORMANCE RETENTIONS24, 1965, and to the Equal Employment OpportunityEach bid shall be accompanied by bid security in 7 35 Trees Plant 36 gallon tree with root barriersclarification regarding this project, pleaseExecutive Order 11246, as amended, of September July 23, 2013 on6:00 p.m. Proposals will be read at a meeting of the City Council at TREE TRIMMING PROJECT CLASSIFICATION OF CONTRACTORS amount. All cashier’s checks or certified checks included in the Specifications and Bid documents for performance security as provided by law. (310) 349-2983.gineering Division, at telephone numberThe successful bidder will be required to providerequirements, labor provisions, and wage rates arecheck, or in the amount of 10% of the total bid 3 YEAR CONTRACT valid State of California“D-49” Contractor’s License. payable to the City of Hawthorne. Bid bonds must Office, City Hall, City of Hawthorne. Section 16430 of the Government Code, and in right to reject any bid or all bids and toThe City of Hawthorne reserves thebe satisfied by deposit or securities specified inness in the State of California and shall be madeContractors bidding this project must possess aand are available for inspection at the City Clerk’sRequirements for performance retentions may-must be drawn on a responsible bank doing busi(Project No. 13-03) SCOPE OF WORK SUBMISSION OF PROPOSALS to do business in the State of California. Bids not minimum wages rates, the Contractor shall abide Contract Code. any bid. Any contract awarded will bewaive any informality or irregularity inaccordance with Section 223001 of the PublicIn addition to the Contractor’s obligations as tobe issued by an admitted surety insurer licensed throughout the City of Hawthorne in accordance Hawthorne City Hall, 4455 West 126th Street, successful bidder (“Contractor”) enters into the apprentices. The responsibility of compliance with purchase at Hawthorne City Hall, Department HH-23838Public Works, Engineering Division (2nd Floor),Pub. 6/27, 7/11/13Plans and Specifications are available forto, those dealing with the employment of registeredbid security of unsuccessful bidders when thewhich may be obtained at the Department ofHawthorne Press Tribuneof the State of California, including, but not limitedacceptable unless certified. The City shall returnforms prepared and furnished for that purpose,and responsible bidder.PROJECT INFORMATIONin Sections 1770-1780, inclusive, of the Labor Coderejected. Personal or company checks are notOriginal proposals must be submitted on the blanklet to the lowest, qualified, responsiveby all other provisions and requirements stipulatedaccompanied by the required bid security will be The work to be done under these specifications includes the furnishing of all labor, materials, tools, and equipment required for the complete and minimum trimming at various locations with the specifications.
Lawndale 06_27_13
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