19 Şubat 2013 Salı
2013 HGTV Dreamhome Sweepstakes: Blessing or a Tax Burden?
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Okay. If you haven’t heard so far this winter, HGTV is running their annual dream home giveaway. This year the special home is in Kiawah. I have been entering to win this home ever since the Sweepstakes was launched back on December 28th. I enter twice a day (once on HGTV and secondly on Frontdoor.com). I have viewed this home numerous times observing the different panoramic photos and wishing daily I will be the lucky winner. A 3,000 square foot coastal retreat seems like the great getaway from the rat race. As much as I covet winning this contest, the numbers guy in me encouraged a further drill down of the prize (benefits and costs). This analysis revealed painful expenses that hide within this too good to be true prize. What does the lucky winner get? Grand prize is of course the Indigo Park dream home on Kiawah Island ($1.700,000.00 approximate value). Adding to this prize is $500,000 cash and a GMC Arcadia valued at $53,565. The total prize package is valued at $2,253,565. Then there is the cash option in lieu of accepting the home. The Cash option substitutes $1,000,000 for home, additional cash prize of $500,000 and the GMC Arcadia valued at $53,565. The total prize package valued at $1,553,565. The substitute cash option is a difference of $700,000. But, there is more to it than that. The federal government is going to get their fair cut. Sweepstakes always appear sexy and enticing, but the winners will surely get gouged by federal taxes. This lucrative prize is considered taxable income. For simplicity, let’s say the feds will tax about one third. We will ignore the additional possibility that you have to pay state income tax (depending upon your native state). Let’s revise the prize picture. You just won the HGTV dream home in Kiawah, $500,000 cash and a vehicle. You can expect to pay in taxes about $743,676 (one third of $2.2 million). That is an extremely heavy tax burden requiring liquid cash immediately. You already have $500,000 covered per the cash prize, but now you need an additional $243,676 to pay that immediate tax burden. I guess one option is to sell your other home and move to Kiawah full time or take equity out (cash out refinance) on the new Kiawah home to pay the initial taxes. Now you have a mortgage payment again. Then there are the excessive real estate taxes and payments for assessments and services (Kiawah fees). Seems like a lot of stress to endure that gets lost in the beauty of that large expansive deck, pool, game room, and beautiful marsh view from the back.. So suppose you opt for the cash option. Your total winnings are $1.5M (car included) but you will get hit with tax of about $512,676 which leaves you almost a million. As dreamy as this Indigo Park home is, I think I will take the $1.5 million cash option. Even with the tax hit, I would still have close to a million bucks to spruce up my current home, purchase a Kiawah villa (for about a quarter of the dream home price) and enjoy driving down to the low country three or four times a year in my new SUV. So I will keep entering every day!
HGTV Kiawah Dream Home Sweepstakes ends February 15.
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Only one more day to enter the HGTV Dream Home Sweepstakes. I believe I have only missed about seven days of entering since the contest began in December. Given the large number of people entering this contest, I don’t believe those seven days will really disrupt my chances as they remain slim to none. However, I will be sure to finish strong and enter today and tomorrow. Good luck everyone.
Seven Fun Things to do on the Beach when the Water is Too Cold
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February and especially March start to get much warmer in the low country with temperatures teasing from sixties to occasional eighty degrees Fahrenheit. The weather is optimal for biking, golfing, tennis and whatever else a coastal Carolina visitor fancies. The beach can also be a fun retreat, but the colder Atlantic can put a damper on things if you plan on going swimming. The water temperature usually hovers in the fifties in February and March. That is a bit cold for a Spring break plunge. I have been down to Kiawah Island for Spring break numerous times and have seen the brave and willing go for a dip (head to toe) into the water. No thanks, I make it as far as walking maybe knee deep into t he water then turn back. The cold ocean temps should not deter anyone from visiting the beach. The miles and miles of sand allow the perfect environment for warming up from a cold winter. I put together a list of five fun things to do on the beach when the water is too cold:1. Sun Bathe – Yes. This is obvious! Bring a towel or your favorite chair and a good book. The water may be cold but the sand is usually warm and feels good on the feet. Even consider a nap to the sleepy sound of the waves. Just don’t forget to bring the sun block. You do not want to wake up red like a lobster. Quiet time on the beach allows for an opportunity to clear the mind and worries. 2. Search for Treasures in the Sand – Bring an old bucket and walk along the surf and set out to find that one in a million sand dollar or conch shell. I am not sure why but the shell selection seems better during the spring months as opposed to my visits in the warmer months. Another popular way to search for treasurers is to roam the beach with a metal detector.3. Sand Art – Test your abilities to make your very best sand castle or sculpture. The beach is your canvas ready for the perfect masterpiece. Just bring some assistants along to help tote the water and tools.4. Volleyball – Bring a net, a ball, and some friends for a fun afternoon of seaside volleyball. Volleyball is always much more enjoyable in the sand. Just don’t forget the cold drinks and a snack.5. Bicycling – Depending upon which beach you are at, consider bicycling along the waterfront. Kiawah beaches are ideal for bicycling as the sand is densely packed. Just be cognizant of the wind conditions. What may appear to be an easy glide or coast in one direction (courtesy of the wind) could turn out to be a very tiring pedal on the way back.6. Fishing the Atlantic from the Beach – Consider shore fishing. I have never fished the surf, but will occassionally spot a shore fisherman during the morning bike rides. The Atlantic is teeming with a variety of fish just waiting to be caught. No boat needed.7. Running and Walking the Beach – Running in sand is a great workout. Taking a jog or long walk along the seashore is a great way to get the mind off the exercise and keep your vision on the sand and surf ahead of you. I usually combine a run/walk over a few miles which allows for great opportunities to look at some really nice homes and golf courses along the oceanfront.

18 Şubat 2013 Pazartesi
UNIFORM | Outlier Riding Pants
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A few years ago when I heard about the NYC brand Outlier, I posted about them thinking they were a great idea (a good looking, all-purpose pant, with a little bit of stretch that will hold up for a daily bike commute, a day in the office, and even a night out). Recently I've had the pleasure of trying out the Women's Daily Riding Pant ($188) in army green, and while I was out for a quick spin to the post office today, I was really pleased with the functionality of these pants as well as the nice silhouette—the cut reminds of an equestrian pant and it's similarly high-waisted so we're not flashing our hindquarters to traffic behind us. Ride on!


UNIFORM | Layering Denim Jackets
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Photos clockwise from top left: via Trashness, MidNorth Mercantile (thanks Kelsey Huberty), Convoy.
I love the menswear trend of layering a denim jacket under a blazer or peacoat or field jacket and am totally jumping on that. I wore one under a leather jacket the other night and think it's a great way to both dress down and add a little edge to an otherwise ordinary outfit. I haven't seen any girls do it, but I found a few photos online (one of them is Jenna Lyons, of course) of the trend happening in womenswear. What do you guys think? Yea or nay?
Photo of Jenna Lyons by Tommy Ton of Jak & Jil and via Fashioni.st.

I love the menswear trend of layering a denim jacket under a blazer or peacoat or field jacket and am totally jumping on that. I wore one under a leather jacket the other night and think it's a great way to both dress down and add a little edge to an otherwise ordinary outfit. I haven't seen any girls do it, but I found a few photos online (one of them is Jenna Lyons, of course) of the trend happening in womenswear. What do you guys think? Yea or nay?

SCENE | Levi's® 501® 140 Year Anniversary Party
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Photos by Eric Charbonneau/WireImage.
L.A. is all abuzz right now with The Grammys (happening as I type), and when there's an award show in town, there's also lots of parties. On Friday, Levi's celebrated the 140th anniversary of their iconic 501 jean with a set by best new artist nominee Frank Ocean and a killer installation at the Ace Museum that featured the evolution of the 501—from farm staple to style staple. Levi's Vintage Clothing accurately reproduces ten different variations of the 501 going all the way back to 1890. So, if you want that 1954 fit, as an example, you don't need a time machine.

While Frank Ocean brought down the house with Thinkin Bout You, there was plenty of tomboy style to go around in 501s and otherwise. Two of my favorites: Solange Knowles in a polka-dot suit with a matching clutch and Rumer Willis in ripped 501s, a black blazer, and bright peach stilettos. Solid.

Photos by Eric Charbonneau/WireImage.
L.A. is all abuzz right now with The Grammys (happening as I type), and when there's an award show in town, there's also lots of parties. On Friday, Levi's celebrated the 140th anniversary of their iconic 501 jean with a set by best new artist nominee Frank Ocean and a killer installation at the Ace Museum that featured the evolution of the 501—from farm staple to style staple. Levi's Vintage Clothing accurately reproduces ten different variations of the 501 going all the way back to 1890. So, if you want that 1954 fit, as an example, you don't need a time machine.

While Frank Ocean brought down the house with Thinkin Bout You, there was plenty of tomboy style to go around in 501s and otherwise. Two of my favorites: Solange Knowles in a polka-dot suit with a matching clutch and Rumer Willis in ripped 501s, a black blazer, and bright peach stilettos. Solid.

GEAR | Electric Bikes
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When I was asked to go along with a friend to a media event promoting e-bikes today, I completely rolled my eyes. I think I said something like, "Is this where we've come? People don't even want to pedal their own bikes now?" But once I got on one, my electric bike world view totally changed. These bikes can motor. And when thinking in the realm of bike deliveries or daily commutes by bike in hilly cities like San Francisco—I can see how these bikes could be a game-changer. Apparently there are already over one million e-bikes in cycle-centric Holland, so maybe it's just a matter of time before they catch on across the Atlantic. I, personally, like to think of these bikes not necessarily as a replacement for a traditional bike, but more as a moped that looks like a bicycle. In fact, some of them have handle throttles like a motorcycle, while others have pedal motors that kick in when needed, and a few feature the option to switch back and forth. Speeds can get up to the 20+ mph range on most models, which on a bike is nothing to sneeze at.
There were a bunch of e-bike manufacturers letting us test ride today including Currie Technologies, Easy Motion, Electra, Kranked Kustoms, Pete's Electric Bikes, Prodeco and Solex, but I think my favorite (and this is an unscientific conclusion because I didn't test every single model) was the Pedego and especially their tandum, which is really fun! All in all, riding bikes (electric or otherwise) at The Terrenea Resort in Palos Verdes isn't a terrible way to spend a February day. 


Bottom photos via Instagram.

When I was asked to go along with a friend to a media event promoting e-bikes today, I completely rolled my eyes. I think I said something like, "Is this where we've come? People don't even want to pedal their own bikes now?" But once I got on one, my electric bike world view totally changed. These bikes can motor. And when thinking in the realm of bike deliveries or daily commutes by bike in hilly cities like San Francisco—I can see how these bikes could be a game-changer. Apparently there are already over one million e-bikes in cycle-centric Holland, so maybe it's just a matter of time before they catch on across the Atlantic. I, personally, like to think of these bikes not necessarily as a replacement for a traditional bike, but more as a moped that looks like a bicycle. In fact, some of them have handle throttles like a motorcycle, while others have pedal motors that kick in when needed, and a few feature the option to switch back and forth. Speeds can get up to the 20+ mph range on most models, which on a bike is nothing to sneeze at.




Bottom photos via Instagram.
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