Spending a Sunday at Bellingrath! Words of Wisdom from Richard Lindsey! What's Happening this Week!
Updated: Oct 28, 2022
Bellingrath Gardens & Home
This week at least five people asked me what I did over the weekend. Fortunately, I spent most of Sunday at one of our area's greatest attractions: Bellingrath Gardens & Home. Imagine my surprise to learn that most of them had never been to this incredible location.
The creation of Bellingrath is truly one of America's great love stories. Walter & Bessie Bellingrath married in 1906. He had the foresight to purchase one of the first Coca-Cola franchises offered in the United States in 1903. He built Mobile Coca-Cola Bottling into one of the most successful locations in the US. The couple were determined to give back to their community.
I want to make the world better and brighter by my being here. ~ Walter Bellingrath
Meanwhile, his wife had an incredible eye for gardening and their South Ann Street home became the origin for the now famous Azalea Trail in 1929. Soon she began planting azaleas out at Belle Camp on Fowl River. This was the beginning of what visitors now know as Bellingrath gardens.
Bessie Bellingrath was known for collecting fine antiques and this chess set is just one example of that practice. It was gifted to New Orleans native, Paul Morphy by Queen Victoria. At the young age of 21, he became a world chess champion in Europe and had a private audience with the Queen.
It was not uncommon for Mrs. Bellingrath to purchase family heirlooms and pay generous prices for the pieces. During the Great Depression, her philanthropy kept many locals fed. She was a frequent visitor to New Orleans antique shops and never quibbled over high prices. She knew that she could very well be the only customer some of these shop owners saw that week.
The home was built in 1935 and designed by famous architect, George B. Rogers. It is filled with pristine antiques, china collections, miniatures and art procured by Bessie Bellingrath. I have visited numerous homes throughout the south and this one is definitely in my top five of personal favorites.
I am working on a "bucket list" of places that locals and visitors should see while they are on the Gulf Coast. Bellingrath Gardens and Home is definitely at the top of my recommendations. If you are a local the membership is very affordable!
Upcoming events include:
59th Annual Fall Outdoor Cascading Chrysanthemums in November
Magic Christmas in Lights beginning November 25th (Everyone needs to see this at least once)!
Read more about the Bellingrath's life and love story by clicking here.
I shall always think of you wandering through a lovely garden,
Like that which you fashioned with your own hands,
Where flowers never fade and no cold wind of sorrow,
Blights our hopes and plans—And on your face,
The peace of one whose whole life through,
Walked with God.
– Your devoted husband, Walter Bellingrath
Insider tip: wear comfortable shoes, because you will be doing quite a bit of walking!
Thinking about buying an electric car?
Richard Lindsey's "Real World" Personal Strategy Note The Tricky Electric Car Tax Credit “Nothing in fine print is ever good news.” – Andy Rooney
I’m guessing that you:
Live in Earth’s atmosphere
Own a car or are thinking of owning a car.
If all three are true, you’ve probably heard the noise lately about the Inflation Reduction Act and one of its headliner tax breaks: a credit you can get for buying a new electric car.
Sounds like a great deal, right?
Like all great deals, however, it comes with a great deal of fine print.
Let’s peek under the hood.
Several different concerns have driven many to consider switching to electric vehicles, aka “EVs.” A recent survey found that one in four would-be car buyers will be looking at electric next time they visit the lot, and most of those surveyees said environmental concerns, wanting the latest technology, and the pain at the pump were big reasons.
We’ve had a tax credit for EVs for a long time. The latest legislation tweaked it (and, many say, made it harder to qualify for as of right now). The revamped credit’s worth up to 7500 bucks for a new EV and is nonrefundable, which means you need to have a federal tax liability to get any benefit. (A slightly less generous credit is available on used EVs.) You don’t get to carry any leftover benefit amount: If you get the credit and you owe only four grand in taxes, let’s say, that’s all the credit you get. By 2024, you will be able to transfer your tax credit to the dealer, who will then supposedly lower your sticker price by that amount.
Beyond just getting you behind the wheel of a car that doesn’t burn gas, the credit also aims to make EVs 40%-50% of car sales just eight years from now and get manufacturers to build more electric cars (and more parts of electric cars) in this country. We’ll see …
Devil in the details
Sounds great. Too bad it’s tricky to get.
Generally, only new EVs with final assembly in North America qualify. Many brands of vehicles will qualify – you can find a list here of some that the government says “may” qualify – but some big-name EV automakers won’t make the grade right now based on assembly locations. Cars have to cost 55 grand or less; trucks, vans, or SUVs must cost 80 grand or less.
Credit for used EVs (up to four grand) kicks in January 1. The vehicle has to be at least two years old, cost 25 grand or less, and be sold through a dealer, among other conditions.
Since they’re thinking the rich don’t need help to buy an electric car, so you can’t take the credit if you make 150–300 grand a year, depending on your tax-filing status; if you’re looking at used EVs, your income threshold will be about half that. Check with us.
Seems like a lot of work for a tax credit I can’t even use all of. Yup – and of course, with cars, there’s never labor without parts …
Beginning next year, about half the EV credit you can get will depend on where the raw materials and components of the battery are made. Half of the components will have to come from either this country or one we have a free-trade agreement with (that percentage will go up with each coming year) – and decidedly not from what the law calls an overseas “entity of concern.” Bad guys, in other words.
When did you sign?
If you bought or signed a purchase agreement for a new EV that qualifies under the original program before the new law, the old rules for the tax credit apply. (There was no program for used EVs under the old law.)
If you purchase a new EV between August 16 and the end of this year, you may qualify for the full tax credit. Your vehicle will be subject to the North American production rule but not the battery or material-sourcing rules.
They say you should never buy a car in a hurry. You certainly shouldn’t buy an EV in a rush if you’re keen on that tax credit.
Some automakers have hit a production cap for this year and their EVs (under old rules) don’t qualify for the new credit. Experts add that few (if any) EVs made today can meet both the production and material-sourcing requirements. In the years ahead, automakers will only get better at supply chains to meet the sourcing requirements.
This credit seems to be a tax carrot that will have more long-term benefits for American independence in EV production than immediate benefit for your wallet.
If you own an electric vehicle or bought one this year, I’d be more than happy to take a look and determine if you’re eligible for the tax break. There are some tricky requirements and sometimes you need to speak tax-ese to figure out if a deduction applies to you – which I do.
Lindsey & Waldo CPA
Things Happening this Week!
Halloween is just around the corner and there are plenty of things happening along the Gulf Coast for children and adults to enjoy!
Saturday, October 29th - MOB-tober Fest: Fall Festival 2022 at 9AM Medal of Honor Park
Saturday, October 29th - Wild Things Ball at the Alabama Contemporary Art Center, 7PM
Saturday, October 29th - Boo at Bellingrath at 1PM
There are COUNTLESS events happening along the Coast. Click here for more options.
New on my YouTube Channel!
I took a bit of a repose from publishing videos on my YouTube Channel however I am back with some interesting content for you to enjoy. I'll be sharing some short clips on local attractions and will include links for ticket prices and will denote if they are pet friendly! Enjoy this first release about my beloved Dauphin Island and the Audubon Bird Sanctuary. Click here to watch!
Quick reminder! Open Enrollment is happening now and Jessica Zoltek of Healthcare Resource Center is ready to answer your Medicare Supplemental Insurance questions. Give her a call at 251-751-5434.
We do not offer all plans available in your area. Any information we do provide is limited to those plans we do offer in your area. Please contact 1-800 Medicare or Medicare.gov to get information on all your options.
We are looking forward to ACAC's Wild Experience Ball on Saturday! A quick visit to a costume store was an indicator that loads of folks will be dressing up this holiday!
Have a wonderful weekend and enjoy this thing we call "life"! ~ Charlsie