Word: mellons
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...must match rates where possible. So if you sold a long-held stock at a loss before May 7, where the 28% rule applies, you're obliged to use it to offset any gains where the 28% rule applies. But, notes Jere Doyle, an estate-planning manager at Mellon Private Asset Management, if you have losses in excess of any gains at a given tax-rate level, you can use those losses to offset gains at another tax-rate level...
That's no small consideration--especially in high-cost regions like California and the Northeast, where longtime homeowners may have gains of $1 million or more. "We have a number of people in that category," Mellon's Doyle points out. If they sold or went to contract on a new house before Aug. 5, they can still roll that $1 million-plus gain into a new residence and avoid a hefty capital-gains tax. But if their gain is under $500,000, they should take the new exclusion and not pile up a big gain in their new home...
...explaining the latest piece to emerge from the grand jury or the deposition, putting it in context, dissecting its implication. Last Thursday the President was hyperventilating about a minor Associated Press story that suggested a Kenneth Starr Whitewater witness might be financially connected to the archconservative Pittsburgh philanthropist Richard Mellon Scaife. "The President is completely and totally obsessed with the intricate details of the story as it unfolds day to day," said a defense lawyer on the case. This is partly a reflection of character, partly of circumstance. "In one sense," says an adviser, "it's no different than...
...40th anniversary issue focuses on the connection between science and culture with contributions by Kingsley Professor of Fine Arts Emeritus James S. Ackerman, Mallinckrodt Professor of the History of Science and of Physics Peter Galison '77 and Mellon Professor of the Sciences and Pelligrino University Professor Emeritus E. O. Wilson...
...vast right-wing conspiracy" mentioned by Hillary Clinton would have long-term appeal for Hobart. "If she had changed that to 'creepy little cabal,' I might have gone for it," he told me. "It's true that this wouldn't have got to the point of subpoenas without Richard Mellon Scaife and his fevered friends. But they didn't put Monica Lewinsky in the White House. Of course, the guy who recommended her, Walter Kaye, is a particular friend of Hillary Clinton's, but I never figured Hillary for the engineer of this. Wronged wife who finally takes revenge...