You could be forgiven for thinking we Newporters hibernate all winter with nothing to do. You would be sorely mistaken, however, as winter activities abound here, including one of my glittery favorites, the Annual Illuminated Garden at Ballard Park which will take place February 21st, 22nd and 23rd from 6:00 - 9:00 PM.
Ballard Park is Newport's only nature Preserve. It is supported by an active non-profit group, and every February the Friends of Ballard Park collect old Christmas lights, yards of extension cords, lampshades and other artsy materials in preparation for a really big outdoor show. Local school groups, companies, artists, teachers and, well, just about anybody who wants to create a dazzling
The ball at Time Square wasn't the only thing that dropped last night. The US economy took a cliff dive thanks to our elected officials on Capital Hill. The so-called “fiscal cliff” has been looming for months. The Senate threw out a life line passing a Bill on New Year’s Day but the House must ratify the Bill before it is presented to The President.
So we’re not there yet, but here’s an outline from the current Bill explaining how it affects your real estate and what it means for 2013:
1. CAPITAL GAINS
-Capital Gains and dividends rose from 15% to 20% depending on your tax bracket. Please keep in mind, the exclusion of $250,000 for singles and $500,000 for married couples is still in place, so as long as you’ve owned your home for at least