Welcome back. It's still the breakfast and plus TV Africa moving on to a first major discussion right here on the breakfast and after last year blaming middlemen for the rising costs of local food stuff Accusing them of creating artificial's Kersti president Buhari through the federal executive council Wednesday, but foreigners from directly buying agricultural produce from Nigerian farmers instead Handing the deal to indigenous middlemen the move means that henceforth only Licensed and duly registered local buying agents can produce Directly or procure directly from farmers in Nigeria the presidency through the menace of trade and industry Nia de bio Has also directed the attorney general to draft a legislation Legislation supporting the policy with the policy the Buhari administration is hoping to tackle challenges of underpricing of agricultural products from Nigeria's farmers and preventing foreign buyers from branding Nigerian farm produce as Made in their country's nest and look at the thinking behind this policy shipped and its implications for Nigerian economy We have joining us live on The breakfast va zoom a Prince Wally or yeah, Koya. He's an agriculturalist and the MDC of bomber farms Prince Wally Koya nice to have you in the program this morning That's what have you made a good morning What's the thinking behind this policy something that we have not heard about before? What is the thinking behind the move the federal government saying foreigners cannot procure directly from farmers in the country? I Don't think it's a policy in the right direction in the sense that what we produce in Nigeria 60% of it got rotten True weighty by these people the foreigners that you're trying to bar from buying our farm produce they add value to what we cannot add value and For them to be banned to be banned our produce is going to be counterproductive In the sense that there's the least of the problem of farmers man for days What happened to the commodity price control? Where is the price control? There's nothing like price control in Nigeria? That is why you see all kind of stuff just coming into the market and No one is regulating me. No one is controlling it So it's not the issue of foreigners coming to map what we have at the farm gate But the policy that is going to be sustainable to really assist the farmers and to bring the price of goods down Completely because most Nigeria's are complaining about the price of the food stop couple with all the infrastructure deficit couple with all the All kind of other stuff like the security and bandit price of food or a price of food price of diesel right now this is about 600 Now the government is not addressing this and these are the multiply effect that is going to happen on the consumers So to me the foreigners are not a problem. We are the problem of our staff and this policy is not going to be sustained They need to do other mountains To really bring more farmers back to the force cause most of the farmers we have today. They are folding up like like Parachutes Most of them are folding up because they couldn't cope with the policy of the government, the ease of government and the ease of doing business in Nigeria that the government are really Talking it bad. It's not really working Okay, so so you're saying that this is not a well thought out policy by the federal government Of course, you are an agriculturalist you on the field. You have the experience, you know, what's going on right now And but the word being used by the board administration and by the minister who announced this at the end of that federal executive council meeting is Underpricing so they're saying that the Agricultural produce from Nigeria is being underpriced and isn't there's this a problem from your experience That's not that it's underpricing But what we are talking about is the price control the government we used to have a commodity price control What happened to the commodity board? That's what you need to blame back is the same government that killed this commodity board Yes, it's underpriced and people just bring whatever they want to the market Okay, you say you buy the foreign and buy for from us. So what if I work for a white man and he sent me as a pre-care officer Go to the market go and buy this thing for me. Is he not the same thing? So burning there to buy our farm produce on the farm gate. It's not the it's not the solution The solution is for them to really even the minister that is talking about what does he know about agriculture? Does he even really know what the farmers are going through the scene know that there's no funding coming to the farmers Don't even know anything about the climate change Right now a lot of farmers are not producing because of the climate change. They are not addressing this issue We have been supposed to have a drip irrigation or any form of irrigation. They are not addressing it So burning the foreigner is just like burning a gear also doing business in most of these advanced country Are we going to cope? There's a bit there's supposed to be a balance of trip between between a Country and other countries by you are doing this message there for you to buy them. It's not going to be sustainable Okay, let's also look at this because we have some quotas who are saying that this is supposed to ensure security for the nation of course you find out that some commodities is really very I mean scarce and you find out that if As much as we say that yes We are great on agriculture and it's produced We still find scarcity of some of this commodity and it doesn't make sense You know for countries Nigeria where it feels like at the end of they were not able to produce what we can even consume not to even talk About exporting that's because we have you know that market now in 2013 there's a report where garlic was being bought from one of the markets I mean the farms in Kaduna or Kani if I'm not mistaken and the foreigner that came They had to pack it in bags as if they branded it Don't you think that this is supposed to protect the agricultural sector? I mean, you know protect the farmers and our interests and also ensure food security I don't think so. I believe that should be in a competition in the world The foreigners are getting challenges and what are we doing to add value to what we are producing? So it should be a form of encouragement by government to the small business to the small-scale business is that oh We need to have value to what what if you are adding value to what we are there We're able to ask for the foreigner will not come and be taking advantage of cost but because the government have really neglected their main purpose of Producing food and a colleague in farmer So the farmers and the foreigners are taking advantage and I don't believe that how many foreigners are we will talking about that What we have Go to the market go to most of our local market You see for some of these food food stuff But some of them are getting rotten that these white people or this foreigner they came in to add value to what we are training We are garbage 60 percent of our stuff end up in the garbage and it's not supposed to be so so we should be Encouraging you can imagine how many people that these foreign people that you have talked about how many people they employ So that's not to be done to really improve the food production in the country And to be by some set of people from doing this and buy some of our farm produce Like we should be encouraging them to come and do what we call and the product x some of our eggs There's something they say is doing the plot. I could say that's a glut when there's not enough eggs in the circulation So they can call it these white people. Okay, don't take this into your country Bring the industry bring your machineries to the country and produce and employ our people instead of just burning them completely But to me it's our colleagues. So our Prince Wale Oh, yeah, Koya What the government is saying that the fact that you have foreigners having a direct interface with the farmers at most times You you you might want to agree with me that this farmers might not really understand the dynamics of the market Just as they come to the local market because that's the farm gate the buyers You know the buy the same price where you have other Peasants within the country buying. I mean, it's not supposed to be so like I mentioned earlier on in that 2013 you have This foreigner who came in as a representative not necessarily as you know He came as a representative coming to buy directly from the farms and in the bags that were packing it He had made in a certain country So so I mean don't you think that this is supposed to protect because I'm thinking that This is actually good that the government is trying to you know to protect the agriculture sector or the farmers right now from exploitation of you know foreigners and also ensure that we're able to produce For our consumption and then before we begin to think about exporting Well as good as the policy might be I keep on saying that is it sustainable Government policy today tomorrow it became sooner. We are going to have a change of government Another domain will come in and say no and Apologies this thing. So I'm talking of sustainable and implementation of some of this government policy So by the time you send away your customer, which are the foreign base. We are talking about When the new government come what we have Well, I could tell products some of the product get bad in the in the farm and look for for customers So to me, I don't believe any farmer that wanted to say to follow it as long as you just get out of their farm instead of getting Spoiled or the bandits or the heisman we bring their cow and eat some of your produce in the farm So they would rather send it away to people that are available that are ready so that I just get something for the for the business The government should be addressing we are the Heisman come to the farm and eat the farm produce and with no compensation There's no insurance to pay for it. So to me farmers tell you to the foreigners They are not pleased willingly But for them to be able to get something out of what they have in the farm before the the cow or the cattle come and eat them That is what I'm saying. I'm not saying the policies is not good I'm not saying the policy should not be should not be prevented Can it be implemented? Can it be sustainable? It's just the summer policy that I'm talking about here. All right. So what are you going how? How is how does this this policy as a as affects you as a farmer? I want I want us to get practical now and In your business if you hear or there comes a situation where you need to go through middlemen Or anyone wants to buy from you who is coming from outside Nigeria has to go through middlemen means that you as a farmer Do not enter for interface with a foreigner and how do you think this will affect you on a day-to-day basis in practical terms? Definitely is affected. If you recognize you are affecting me that I have a whole lot of Panapos in the farm I'm talking about almost about 50 acres of Panapos That I have in the market that I have in my farm. I'm looking for middlemen to buy because The security is not there for me. Sometimes I even I even try to look at the time I have to go to my farm so that I'm not making maps of some of our colleagues in my area and making mapping So now you can have when you already planted this in that take over a year to grow Are you are you fancy about that? So I'm going to mop up everything your farm Are you going to be dictating that all you have fallen and not sell to you? So until the go make are really taking care of all the first social deficit like the security and lies we could be able to process our farm produce But the conditions there is not even producing We are there's no diesel where there's no electricity to even do your processing with my 50 acres of Panapos I should be processing juices But come to my area that's not like now if I want to go into diesel processing You know how much this is now 600 and 600 So these are the reason I'm also the farmer we rather say to the medium man instead of getting into Unnecessary pets because some of us take long so if you cannot be able to play your law You're not able to say your produce then you're in trouble But I mean yeah shouldn't you be happy with this bearing in mind that The idea here is to make sure that you can get a higher price for your pineapple Yeah I'm not saying the policy is not good. What I'm saying is that is this sustainable? With kind of government we have government come government and go Another government will come tomorrow as some of these foreigners if they really Invested in their in their in their politics Since we change then the farmer will go back again to the square one I'm not saying the policy is not good You know as long as it would be implemented well and be sustainable I have people's oriented policy not that some kind of politicians have interest in what is going on That is my point. I'm not saying the policy is not good Prince Wale don't we have I mean or you're an agricultural at least and There should be because I mean you have different association Don't you have some kind of association? Who should be speaking and protecting the interest of these farmers? We have seen that Recently in Nigerians are taking to protesting and which has been a policy Even though to some extent it hasn't yield any kind of result to some sectors especially if you look at the educational sector but Don't you have a body that should be speaking for farmers and those who are involved in agricultural consent We have so many bodies. We have so many organizations Bodring along the agricultural sector, but some of them have been hijacked Let me be very honest with you. We have so many you have put your farm association We have all farmers association. We have rice production. We have cottage association But some of these people some of the executives we have I'm being honest with you They're supposed to be fighting for for the farmers But when you get to satisfy when they cannot go find for themselves when you come to the free for all when they even have their own Produce in the farm that they cannot say we do communicate. We do have platforms that we've been looking for buyers Most of the local farmers we have also they're not different this foreign but foreign farmer foreign buyers But they will they will back from you instead of that to bring your time to go back to the farm and do the right It might take them three months for more six months to pay back for your own produce So when you see a foreigner coming to mop every day, it might be of a lower price But it's better for you to get something lower than you get everything and damage or destroy your farm So now that we don't have any association. We do have a lot of Okay, right interesting these people called the middleman Last year the president blamed them for the rising cost of of local food stuff He accused them of creating artificial scarcity is a middleman the president is banking on to Have an increased price for our products before they're taken out of the country And who are these middlemen and why are they so important? Do you do you interface with them interact with them, you know regularly as a farmer in Nigeria? This middleman are not foreigners.  I've seen it happening. These are not foreigners These are our own people. These are Nigerian that do this. So the middleman We are talking about we most of us are the middleman especially people that have money You can easily go to the farm and buy your stuff and repackage it Either you repackage as a whole or you have value by processing So when you talk of middlemen, if you have your money today, yes You can be middleman You can be one of the middlemen to come and buy the produce and repackage and do whatever you want But what I'm trying to say is that the government are there looking at these people repackaging this thing into foreign birds What they do So you are you saying that the middlemen themselves are also part of those who You know, repackaging some of the products As made overseas when they actually made in Nigeria. So what you say? All right We see the so-called middlemen Prince Wale Oye Koyer Let's talk about the fact that the Agricultural sector I mean something that's been on the news Over time the fact that the farm produce that we get to export outside of Nigeria usually does not meet international standards We we get to that point where We hear that several goods have been rejected because they don't meet the international standards for the market Why is that the issue especially with Nigeria? As I said, it still bugged down the policy of our government It still bugged on the on the leadership because yes I remember too many times that 47 of our items were burning the UK the UK that supposed to be our allies That's supposed to be a partner. That's supposed to be our colonial masters The same thing you ask the same guy remember one time when some people tried to export yam So you ask everything got brought to almost about 10 containers and nothing's been done today So when you see for it are coming to buy some of these produce They reinvent it. They reproduce it. They repackage it. They add value And this is what I'm expecting a government to really look into that. Okay. If this is the problem, what countries of our problem internally? So for for other countries we get in our produce. It's not a farmer. It's the policy And if you look at the policy we are talking about is the ease of the business that the federal government been talking about But that's not it like ease of the business in Nigeria When you talk of ease of the business and you go to the company by this or 690 plus all the manufacturing Complaints are moving out of the Nigeria to the neighboring countries These are what the government should be addressing that why are complaints? Why all these panglomeric complaints? Blue sheeps are moving out of Nigeria to other countries something is wrong So so you're saying that so you're saying that the fact that you know the goods the fact produced We have in Nigeria been expotted don't meet international standards because of the policies of government How can you be more explicit with that? What I mean by this is that yes is due to the policy because when you want to export something that's a procedure you take You see that when you go to some of these export promotion consoles instead of them to do the writing if you don't If you don't give them money they will not come to your party They will not come to your warehouse to expect what you have is your about your sample isn't it with the That will enter into the country. How do they enter to the country to the extent I want to the circulation the same thing with export Bring you all this input. So buddy the same thing I plan when you are trying to export your produce They don't really do much of the necessary inspection, but they just sit there in the office as not as the price is right These are the policy that needs to be changed You can imagine how many very good god damn it with the bad import of food that the answer to the country I have so many friends that they're better than me. So the same thing when you are trying to export some of these farm produce What to go through from these people alone some of these good got locked in before even take off to this to the other country You can imagine a perishable item that supposed to live within a day with it when for hours So I think about two weeks before you get up to that from the from the knuckle from the airport from everywhere from where Yeah, we are good to export this it takes weeks So by the time is leaving our shop by time we get to the other show right there. It's already nothing It's already getting back. All right. We have to leave it at that. I'm afraid a prince. Well, oh, yeah Thank you very much for a time. He is an agriculturalist and the managing director and chief executive officer of bomber farms We're really really on the hands and practical Analysis is giving us on this particular issue. Thank you very much for your time, sir Thank you. Thank you for having me. Right. All right. We have more This morning on the breakfast, of course, the Senate saying no to President Buhari We have a guest Analyst joining us to discuss this mercy expunging section sex section 84 and the Senate said no Hmm. Well, we'll just find out, you know, because this this is actually rare You know case with the 9th assembly I mean looking at the fact that the 9th assembly has been described as Robert's time. Well, let's find out what went You know different. I mean what really happened. We'll be right back after this time. Please stay with us


Aloha.  I'm your host, Abe Lee. I've been a licensed real estate agent since 1973. I'm the owner of Century 21 Eye Properties, Hawaii, and work with close to 100 wonderful agents in real estate. I started Abe Lee seminars in 1980. I have taught over 10,000 students to help them get their real estate licenses and have taught continuing education for licensees to renew their license every two years. Our show is dedicated to helping buyers and sellers understand the process involved in a real estate transaction. Our special guests will talk about legal issues, escrow, title, getting a loan, surveys, home inspections, insurance, contracts, rules and trusts, and much, much more. Today, we're privileged to have a return guest. Ethan Okura from Okura & Associates is a law firm that specializes in rules and trusts estate planning and also focuses on Medicaid, which is a highly not understood topic. So Ethan is going to talk to us about the secrets of Medicaid and your real estate. But Ethan, thank you so much for being with us. Second time. You're welcome. Thanks for inviting me again Abe. It's good to be here. Yep. Very much so. So the first time we met, we talked about rules and trusts, which is basic. But today, I want to get into what is Medicaid. And so can you tell us what's the difference between Medicaid and Medicare? Sure. And that's a really great question. A lot of people have heard these terms Medicare and Medicaid, and they sound similar. And so a lot of people confuse them for each other. But there's a big, big difference. And it's not just the air and the aid ending with Medicare. That's your social security retirement health insurance program. So everybody who's retired can get on Medicare to pay for some of their health needs. Medicaid, on the other hand, is a needs based program. So like welfare health insurance, and there are asset and or income limits, depending on which program in Medicaid you're qualifying for. Medicare, on the one hand, does not pay for long term care for nursing home. But Medicaid can pay for long term care in a nursing home. That's the big difference. Okay, so really, we should be more concerned about Medicaid because everybody gets Medicare. Correct. Right. Because my wife and I are over 65 now, and we're on Medicare, and they take out several hundred dollars a month for Medicare insurance. But Medicaid, we wouldn't qualify unless we had certain specific, I guess, income limits or whatever. So tell us, Ethan, you talk about top form lists about qualify for Medicaid. What are those myths? Sure, the first one we've already alluded to, the myth number one is that Medicare can pay for my long term nursing home costs. And that's not true. Some people have come to me, clients have approached saying, well, but I know that my nursing home was paid for by Medicare. I remember if a nursing home cost is covered by Medicare, it's not for long term care. They can only cover for short term rehabilitation purposes. So if you had an accident or an injury, a fall and broken hip or stroke or something happened, and you had to go to the hospital for at least three days. And on the fourth day or later, you're discharged from an acute weightless bed to a nursing home so that you can go to rehab and you can try to improve, then Medicare can pay for rehabilitation costs. But there's a maximum of 100 days that it can pay for. So there's no more than about three months. And on average, it only pays for about 26 days of rehabilitation before they cut you off. So that's one of the myths is that I can get Medicare to pay for my nursing home. But if you're in long term care, you need Medicaid. The second myth is that I don't want to go on Medicaid because I don't want the government to pick which nursing home I go to. I don't want to have to go to a poor quality nursing home. Some people have heard that, that you don't get to choose. That's not true either. When you're in long term care, if you're in a facility that can handle skilled nursing facility level of care or intermediate care facility level of care, so this long term care 24 hour care that's needed, most of the facilities that are what they call ICF or SNF capable here in Hawaii do accept Medicaid. And whether you privately pay or qualify for Medicaid, you can be in the same facility for most of those. There are a handful that either don't accept Medicaid at all. Or they limit the number of beds that are Medicaid available. For example, Kahalanui is pretty well known in town as one of the nicest nursing homes around. And they only have a couple of beds available for Medicaid patients, two for men and two for women basically. And other than that, they have to be private pay. But almost all of the other major nursing homes in town that you'd hear about that do long term care can also qualify for Medicaid. Now some of these are more of assisted living facilities. And those often do not get Medicaid because you can't get Medicaid for assisted living. It really has to be for intermediate care or skilled nursing care level of care. But the government doesn't pick which nursing home you go to, you choose the nursing home. And if it is a Medicaid accepting facility, then you can qualify for Medicaid and they can pay for your care there, no matter where it is. The third myth is that you have to use up all of your assets on your own care before you can qualify for Medicaid. Sometimes people hear it as the requirement to quote unquote, spend down. And I think that that's often the worst advice people can get. They think that they have to spend all of their assets before they can qualify for Medicaid. And that's not true. There are asset requirements or limits. But with careful planning, there are often ways to qualify for Medicaid without having to spend everything on your care. And you could save some of your assets for family members, especially for a spouse or for your kids. And it really is a highly technical area of the law and specialized. So many times, even lawyers I know have given advice to people or people who are specialists, maybe not lawyers, but a consultant for Medicaid that have given advice to people or social workers at the nursing homes or whatnot. And a lot of them have some experience with helping people qualify for Medicaid. But they're not Medicaid specialists in protecting assets from nursing home costs and qualifying for Medicaid. So I often have people come to me where they've gotten bad advice from someone else that caused them to lose all their assets or that would have cost them to lose all their assets if they followed it. So that's a third thing that's a myth is that you have to use up all of your assets before you can qualify for Medicaid, not necessarily so. The other, the fourth myth, and this is another big one, is that if you gave away any assets, you can't qualify for Medicaid for five years. And that's not exactly true either. And the reason why a lot of these myths are so prevalent is because there's maybe a kernel of truth to them or they're close to the truth. But they get misinterpreted and misunderstood by most people. So there is a five year look-back period to say when you apply for Medicaid, if you did give away assets, we have to look at what the value of those were to see if there was a penalty for giving it away and how long that penalty would be. But it doesn't mean you can't qualify for Medicaid for five years just because you gave away some assets. In fact, sometimes a penalty could be shorter than five years, one month only, or the penalty might be many, many years, 10 years. So you have to be very careful in just assuming that, hey, if I just give away asset, I only have to wait five years before qualifying for Medicaid or I can't get it before five years. Sometimes you could qualify much sooner than five years. And sometimes it might be much longer depending on how you failed to plan. Wow, Ethan. That is a mouthful. And for most people, it goes over our head. All right? So let's get to a little more detail then. Sure. What are the requirements to qualify for long-term care Medicaid? And what's the financial requirements? Yeah, so to qualify for long-term care Medicaid, there's two components. One, you have to have a medical need. So you need to be medically needed. I in my current health state, even if I were flat broke and met all of the financial requirements, I couldn't qualify for Medicaid because I don't have a medical need for it. Right? So you do have to hit that. But assuming you meet the medical need, then there's a financial need requirement. And this is a part that gets a lot of people confused. There are limits to the amount of assets you can own and still qualify for Medicaid. And a lot of people get confused between assets and income. And part of the confusion here is because of the different types of Medicaid programs. Or someone who's not in long-term care, someone who just has low income and they need this welfare health insurance, they have income restrictions to see whether they can qualify for Medicaid to pay for their nurse to pay for their health insurance. But their assets are not counted. So someone who's not in long-term care who just wants Medicaid regular health insurance, we don't even look at their assets, we just look at their income to see if they qualify. And if you're poverty level income, you can qualify. However, if you are going for a long-term care, the opposite is the case. We look at what your assets are and it almost doesn't matter what your income is. Even if you have a lot of income above poverty level, five, six thousand a month, if your income is not enough to pay for your care, as long as you meet the asset requirements, then you could qualify for Medicaid for long-term care. And they just make you use some of your income to pay for your care, and Medicaid will pick up the difference. So that's one confusing point is the income versus assets. Should I move on to what are the assets and the asset requirements and the types of assets? Let's talk about the medical need first. You're saying that somebody really needs help and they can't do it themselves. What are the tests of what you can or cannot do to qualify for the long-term care need, just say a physically disabled person or mentally disabled person? Sure. If you're comatose in a coma, you automatically qualify. We need you. But short of that, there's an assessment done by your physician or sometimes the admitting nurse in the nursing home or the physician affiliated with a nursing home, and they fill out this form that the Department of Human Services here with the state of Hawaii, they have a form 1147 and that's an evaluation of your abilities.  So there's this whole list of things that they go through and will assess points, zero, one, two, three or four, depending on the categories. Some of them have fewer than four. But when you add up all the points, you need to meet a certain level that's determined to be at least intermediate care facility level of care before you can qualify for Medicaid and being medically needy. Generally, if you hit 15 points on the 1147 form, you're in good shape that you will be considered intermediate care facility level of care. And then you've met the medically needy requirement. So as a pun or as a joke, you have to qualify to not be capable. And then you qualify. Exactly. Okay. So that's the one side on the physical need. Now, on the financial need, it's a little more complicated. So can you go into that? Sure. On the financial side, like I mentioned, there's a difference between income and assets. So income is what comes in every month. That's why they call it income. If you ever think about that. So social security, pensions, salaries, investments, rents, any of that would be income. But if we set that aside, and we just look at your assets, it's what's in the bank, right? What you own, what you have in your bank accounts or stock accounts, even your retirement funds, your IRAs, your 401ks, your real estate, your cars, all of those things are considered assets, anything that you own is an asset. And when you're trying to qualify for Medicaid, we make a distinction between exempt assets, and non exempt or countable assets. So we have two categories. And there's a long list of exempt assets, and 90% of it doesn't apply to most people. For one example that could apply in Hawaii is if you had been held in an internment camp in World War II as a Japanese-American citizen, and you got a reparation payment of $25,000, which started in the 70s, then you kept that money separated, and you could say, this is that $25,000 that I got as a reparation payment for being an internment camp, then that's considered exempt. But that doesn't apply to most people. So the ones that do apply that we usually look at are a home. If you own a home, that's an exempt asset, and you don't have to sell it before you qualify for Medicaid, it fits your home that you're residing in your residence. If you have a car or cars, the cars are exempt, and you can own those and still qualify for Medicaid. And when we say motor vehicles or cars, it could be a passenger car, a truck, a van, a bus, even a motorcycle. But unfortunately, the category of exempt motor vehicles does not include a boat or an airplane or a helicopter. So if you have one of those, you're out of luck. So you have to give up the airplane, Ethan. Yeah, that's right. And besides that, you could have a wedding ring and an engagement ring, assuming you're married, and you could also have a funeral plan and a burial plot. So those, like if you had a prepaid funeral plan, right, when you purchased it to say, hey, this will take care of my funeral when I pass away, or a burial spot, which could be a cemetery gravesite or it could be a niche for Buddhist style, that any of those would count as an exempt asset. But if you have more than one burial plan or burial spot, then those would be considered not exempt if you have more than one for each person in the household. So those are the exempt assets that most people would, that would apply to most people, right, what they can have. Anything other than that is non exempt. So all of the stocks and bonds and bank accounts and cash and gold coins and money in your mattress stuff at home, that's still a non non exempt or countable asset, and you have to declare that when you're applying for Medicaid. How much can you have? You can only have $2,000 in countable non exempt assets when you're applying for Medicaid. If you're a married couple, and one of you is going to a nursing home, then the one in the nursing home can have $2,000. And the healthy spouse could have up to $148,620. So that's called the community spouse resource allowance for the one who's healthy, so that they can keep from surviving right while their needs aren't being met by Medicaid.  So that's the assets in terms of exempt and non exempt and how much you can have. So let me get this straight. If the husband is needy, he cannot have more than $2,000. Correct. The wife can have up to $148,620. If she's healthy living at home, in a nursing home herself. So if she has more than that, what happens? If she has more than that and you apply for Medicaid, husband will be denied. Sorry, you have too much in assets. Come back when your assets are under the limit. So how do you take care of that then qualify? That's the secret sauce and it depends on what types of assets you have. But I can give you one simple strategy and one quick warning here is this is not legal advice. This is not financial advice here for anyone because your specific situation might require a totally different plan or there could be something that's much better to do that's different from this. But one possibility is there are certain types of annuity contracts that you can purchase for the healthy spouse that does not count as an asset as long as it meets several strict requirements. And most insurance companies don't sell an annuity that qualifies for Medicaid. So a lot of people got buy an annuity thinking that they could do it for Medicaid and it doesn't work. In fact, it could actually backfire and be worse. In fact, count as a penalty for you for Medicaid because you bought this annuity. But if you can buy the right kind of annuity for the healthy spouse, you could put all that money in that annuity for the healthy spouse and it doesn't count as an asset. It counts as an income stream for the healthy spouse and the healthy spouse can keep all of their own income. So we've had clients with a few hundred thousand extra in the bank. Maybe let's say there's 500,000, but they're only allowed to keep the 148. So we could take the extra 350,000 or so put into an annuity contract for the healthy spouse. The healthy spouse gets all that money back after well month by month in an equal payments over four to five years. And when that money's coming back, it counts as income for the healthy spouse. So we don't have to contribute it to the nursing home. Like the needy spouse would have to pay their income, but the healthy spouse can keep all of their income. And so for one moment when we're ready to apply for Medicaid, we have less than 148,000 for the community spouse. And all the money that went into the annuity doesn't count as an asset. We apply for Medicaid and get approved. Once we're approved, the healthy spouse can keep their income and grow their assets over 148,000 and they're not penalized. So that's one technique to temporarily reduce your assets and yet get it back for the healthy spouse within a few years. Ethan, is this 148,000 annually? No, the 148,000 is not an income. It's an asset that look that's when we're applying for Medicaid. We look at what your assets are at that point in time, a snapshot of assets at that point in time. And if we're under that amount, 2,000 and 148,000, 620, then we're approved. If we're over, we're denied. And if you're approved, then even if the healthy spouse invests their money and grows over 148 or gets more income or annuities pay out and it grows back to 500,000, the healthy spouse can keep that money and it doesn't get the nursing home spouse kicked off. Okay, how about a home? You said there's no limit if certain conditions occur. Right. So we said your home was an exempt asset. Well, that's only partially true. The home is an exempt asset, but there's two caveats there. One is there can be an equity limit on how much value or equity you can have in your home. And current it was set at $750,000 adjusted for inflation back in 2006. So currently you could have a million $33,000 home. And that's all exempt. And if you have a million if your house is worth more than a million 33 and you don't have any mortgages to reduce the equity, then it would not be an exempt asset because anything above the million 33,000 is accountable asset. But there's an exception. If you have your spouse living in the home, the equity limit doesn't apply. So you could have a $2 million or $10 million home. And if your spouse is living there, the whole thing is exempt, you can still qualify for Medicaid. Wow.  And in this case, it's federal law minor, so under 21. And then in that case, you could have a house worth more than a million $33,000. And it's still exempt to get you qualified for Medicaid.  That's a good question. That's not true, actually. It's the exempt and you wouldn't qualify for Medicaid. But the adult child with two years living with you and helping to take care of you, this is actually an exception to the five-year look-back rule where there's a penalty for transferring assets.  Well, that gift would create a penalty with a five-year look-back period. But there's an exception if you give your home to your adult child who lived with you for two years and helped provide care to delay your entry to the nursing home, then there's no penalty for giving your house to that child, whether it's a million dollars or $10 million or $2 million. Any value of home is no penalty on transferring it. But if you don't give it away to that child and you keep that home and it's worth more than $1,033,000, you can't qualify for Medicaid because your equity is too much. Wow, amazing. It's complicated, right? It is extremely. Now, you know, time is flying. We wouldn't have little under four minutes left. But you had five tips to qualify for Medicaid. So, can you tell us your tips? And then maybe at about a minute left, we're going to have to cut it and then bring you back again. Sounds good. And maybe we'll have to do another session to talk about strategies we can use or something. Sure. That'd be wonderful. Five tips. I would say first is when you're trying to qualify for Medicaid, work with a qualified specialist to maximize your chances of getting qualified for Medicaid without getting denied. And in this case, they're often social workers or Medicaid consultants who can be helpful. As long as you don't have a significant amount of assets, often they're really helpful to help you get qualified to make sure the paperwork's done correctly. Because if you submit your application and it's denied, the problem is you might have a nursing home bill of 10,000 or 12,000 or 15,000 a month that's racking up.  And so get help when you're applying for Medicaid. The second tip would be don't necessarily just spend down your assets before seeking assistance from a qualified attorney who specializes in Medicaid qualification and protecting assets for nursing home costs. Sometimes the social worker or Medicaid consultant who's helping you will tell you to spend down so that you can qualify and that might be the wrong advice, but they don't know any better. Everyone that I've met and worked with the social workers or consultants are good-hearted people who are trying to help and they do a great job to help most people who just need help with an application to qualify for Medicaid. Sometimes they give advice without realizing that it's not the right thing for your situation because you have assets that could be saved and they don't know how to save it because it's really complicated as we can see. So I would say don't just spend down because you heard you have to qualify. It's worth getting some advice, a consultation from a specialist to see if there's something you can do to protect those assets. Number three, make sure you have a very good, durable power of attorney for financial matters that allows your agent to make gifts on your behalf if you become incapacitated. Because if you don't have special language allowing them to make gifts for you, they can't do that.  The state form, the default form, only lets you give 17,000 per person per year if you even allowed for that gift. So that's an important one. The most important thing I think is make sure you have a good power of attorney before you become incapacitated. Okay, we're at the well time and Marky said. Excited. So we're gonna have to bring you back for sure. Sounds good. Because there's a lot more stuff that you could go into detail without rushing. But man, this is just an amazing amount of information that the normal Joe public doesn't know, do they? No, almost everyone I see that comes for help with their Medicaid dining. Even if they've done research online, even if they've cut points, some of them even work in the business. In fact, we had someone who's a Medicaid eligibility worker who approves and denies people's application recently come to me for advice on how to plan for protecting their assets and qualify for Medicaid if they need it in the long term. So even the people whose job it is to prove or deny the applications don't necessarily know it all. Yeah, he didn't. Thank you so much. Let's have you back again for the continuance. Okay, I think people would like to know more about that. Folks, thank you so much for being with us. Go to abeliefseminar.com if you're interested in learning more about the real estate education side. And of course, Ethan is at Okura Law. And so he's on the website as well. Thank you so much, Ethan. We'll see you again. You bet. Take care. All good. Take care.


Katie, where are you? I rang your buzzer like 11 times. I've been Brooklyn's rank got so out of control. I've just been couchsurfing. Might as the couch! But it's great lighting and... Taichi. It's Taichi for tauts. The barista was so rude. Not a lot of privacy. They didn't even put like a heart in my foam. And my toddler can make a zigzag in my...  Where exactly are you? Ah, Prospect Park. Uh... Tree... I've been performing with Wayne Brady, the Hanson brothers. Oh, the real Housewives. But I really miss our show. I don't know. Nine years! 250 interviews. I mean, how many more employees can there be? Was it Hanson? And way too many Housewives. Since Trump, though, I've just been down. I cut out wheat, sugar, dairy for like the whole 30. Minutes. And I got a therapy dog. Don't you already have a dog? I got a therapy dog for my therapy dog. It's just too much to put on one dog. How does one even get a therapy dog? There's no dog. Stress up his bees. Wouldn't you think the owner's a nut or butter? After Trump, it's just been perpetual traumatic stress disorder. I keep hoping for the post in PTSD. That's why we need to do Employee of the Month. Give people time to come together for a fun, thoughtful evening. And we signed a contract with Live Nation.  Well, what time do we need to be there? Now! At least they're letting a few token women host late night talk shows now. Wait. Women can talk and listen? Who knew? I feel bad that I judged you. My meditation teacher told me, if you judge, don't judge the judging. But you know what? There are enough therapy dogs to go around. Come on! Come on, let's go!


Hey guys, how you doing? This is your boy Rich from Rich TV Live and you too can join the club at richpakesdaily.com where you can learn how to win and trade. Hi, how you doing today? I'm your host Rich here on behalf of Rich TV Live with our very special guest, the CEO of Rockmaster Resources Corp, John Mirko. How you doing today, John? I'm fine, thank you, good morning. Good morning, excited to have you on the show and learn more about your company. I have a few questions for you and let's get right into it. So the company has about 2 million ounces in all categories. Can you break this down for our viewers and through each category? Sure thing. So what it is that's the current resource and that's the product of a 43-101 that was done over a year ago, a technical report on the resources from a few hundred drill holes in surface and underground workings is a gold equivalent, two million ounce number. And what that means is some of the value is gold, some of the value is silver, lead and zinc products that we're gonna all use when there's a commercial operation there. Approximately two thirds of the value comes from gold. So that's why we use a gold equivalent. The nine million tons broken down, measured, the category of measured, which is based on your sample points that you have in the proximity to the next sample point is approximately half a million gold equivalent ounces. The next category, which is indicated, slightly broader Pierce points is about the same. Half a million ounces gold equivalent inferred, where you do larger step-outs between your drill holes or your sample points is a million, one million, little over one million ounces gold equivalent. Adding up, if you add up everything in all categories, that's approximately two million. Fantastic. John, can you go through ongoing drilling and when the company is expecting some drill results? Okay, so currently, great question. Currently we're underground, we are drilling. We're drilling a large diameter drill core, which is a lot thicker than the previous drill core because we're gonna utilize that for metallurgical testing results as well as the analysis for gold assays. Why do we want it thicker? Well, we're gonna cut it in half, half's gonna go for metallurgical testing and we need some bulk on that because they do lots of crushing and grinding and gravity and flotation. In our case, metallurgical processes where we're gonna pre-oxidize it. So we need a certain minimum volume of that. Plus we're doing a lot of this drilling down where we fit a lot of free gold in last fall, last winter. So we're gonna test these free gold areas also with the larger diameter drill core. That's currently going on right now underground at the River Ridge project. Because winters come upon us, we've moved underground. The surface diamond drilling that we did, we walked out a couple of kilometers to the Northwest along there, all helicopters supported diamond drilling with a fly rig. All those results are now in and being incorporated, which ones we can incorporate into the updated resource numbers that are gonna be coming out shortly have been included in that. And we will report on all those holes, anything that has an NSR value that would qualify to be in our PEA would be included in the resource numbers past the cutoff grade. And that all becoming out shortly. We're, you know, I promised this in the past and struggled with getting the engineering team to get that out on my promised time. But we're at the very short strokes here and we're in the final days of getting that done and be herding five engineers and making sure that we keep the mistakes down to zero. So that's where we're at with that and you can expect that out soon. And we're gonna continue drilling. We don't have any plans to stop this property. As you've probably noticed has one main zone that everybody's poked holes in and it keeps expanding and it's in one area and it's now a few million ounces. But along eight or 10 kilometers of strike length in the Nolan deformation zone are other zones on the surface. And we've tested a few of those to the North nothing to the South yet by both prospecting soil geochemistry to try to target where to drill and then a little bit of shallow drilling. That's all gonna keep on going because the way of, you know, you can add tonnage to this deposit and grade by drilling and by deposit, I mean deposit area along those zones. Can you tell us about the seven to 10 kilometer length zone with very large blue sky potential? And can you tell us about the team at Rockmaster and how you guys have a proven management team? Yeah, sure. So that's why we took on this project in the first place in addition to it being precious metal rich. It was obvious to us that this deformation zone was large and provided a lot of exploration potential or as you say in the game blue sky potential. It's not, at my age, I wanna go and explore. I wanna try to double triple the size of some of these historic prospects. I'm not interested in building another mine if I can avoid it. It's all about adding value. So we took this on. We found out it's an organic gold system. It's got a lot of legs down dip in every case where we've drilled it down dip we're 500 meters plus lower than the previous resource and we're still hitting it's wide open. And that excludes any of the strike length of that. We've only gone 1.8 kilometers where we've got some values to the Northwest. To the Southwest, we later in the season got back some good sample results and too late to move the drill down there. But this is gonna go on for years, I'm pretty sure. So the management team here has in myself in particular have permitted three mines in this area which I'm referring to the watershed of the Columbia River in the West Kootenays built three and permitted, so permitted, developed, constructed and operated three commercial mining operations. And it's a very difficult thing to do. So what we're doing right now is we're going down that path of putting together all the information you need in order to provide that information to the local communities, First Nations, government regulatory bodies to move the permitting process along ways down the path. That adds value, that's right up there with good drill holes. If we have that along with good drill holes and we can show that there's a good chance this is gonna become a commercial operation we're gonna attract investment and people looking at it as a good takeover target. That's what our management team's trying to do. Very good, we love that. We'd love to hear that it has the potential to be a takeover target. That's what investors are looking for, big catalysts and obviously finding great reserves and great resources in the ground. Can you tell the viewers how the company is focused on being known as mine builders and multi-project focus? Well, that's another good question. We have built mines in the past. I've got a team that can do that. It's a small team of great guys. You're not gonna see that in the management description. I mean, go on our website, take a look at some of the presentations that describe our geological team and some of our management team as far as the market goes and that kind of thing. You'll be happy with that. But in the background, we've got good engineering, we've got good environmental, people just fantastic guys. You've operated in the Kootenays here in the past and for many decades, very familiar with the regulators and people that in the communities are gonna be comfortable with that type of a group. And this is one thing that we focus on providing a comfort in these areas if we're talking about mining. It's just, this is the modern day and the modern age and as you've probably seen in the news, somebody builds something and it falls over and causes pollution. We're just not interested in going down that path or ever even proposing something that might have that kind of a problem. So this is what we do. So we're scattered around in the Kootenays. We've got a copper project to the Southwest, a couple of hundred kilometers, sorry, the Southeast and about 150 kilometers to the Southeast, we've got a zinc project. We love these projects. They're big potential, like their large, large world-class targets, one for zinc predominantly and the other one for copper-silver. And look what's been happening in the market recently with regards to base metals. We're gonna be seeing in the next six months a phenomenal base metal market. So we're gonna make sure all of that's in play along with the old project at Rebel Ridge in the coming year, yeah. Those are some exciting projects. Can you tell us about the new resource calculation upcoming? Okay, so what we did was we focused on adding tonnage and grade to that by drilling down dip from the existing workings underground. And most of that work happened over the last year and a half.  There's some of the surface holes to the Northwest extension have been included in that, the ones that made NSR cutoff or whatever we decide that cutoff to be. And we've included all of that and we're processing all of that data and putting together the maps and the sections and the different tables that we need including what the baseline metallurgical results would be needed to qualify for that NSR, the values based on gold equivalent values and all the base metal values at an average price. And we'll also have graphics that's gonna show that. And this is all something we're working on over the next few days, like days, it's not weeks. So we're, I'm pushing as hard as I can to get it out the door as fast as possible. We got a great team. But you know, they're engineers and it's like herding cats, so. Here, John, here at Rich TV Live, we'd love to identify companies that are undervalued, underappreciated, under-exposed and we'd love to understand the fundamentals of the company. So for the viewers that are watching, can you explain how the company is undervalued for the amount of gold proven to date so that our viewers can understand the numbers and you can paint the picture for the people that are watching today as far as how undervalued this company really is. Yes, well, the historic resource, if you take that two million ounces and you don't expand that by one ounce and you look at our market cap of around 40 million, you know, you're looking at a very low cost per ounce. You can do it in Canadian or American dollars. It should be triple that. That's, and I'm using that just from the normal industry standards on what we call good ounces where you can go from whole to whole or sample point to sample point and have a high comfort level that that information is good. So as you know, we've only done a preliminary economic assessment. We haven't done any feasibility studies, but that indicates and you'll see it too in the new resource estimate that the comfort level on those ounces is very strong. So okay, so a few million ounces in our market cap, it's clearly undervalued. If you include the cost of the project where we have to pay the vendors and take care of all of that background noise for another 40 million, that's an $80 million market cap. If you want to pretend that we've already bought the thing and 80 million with two million ounces, that's still undervalued. I agree with you 100%. And we love to identify these types of companies that are undervalued that have incredible blue sky potential. There was a question from an investor or a potential investor and they wanted to learn more about Rockmaster Resources Corp. What's the best way for them to get a hold of the company? Well, the best way is to send a message on our internet site, rockmaster.com. You'll see contact information there. So you can get a hold of me directly by my cell phone. You can get a hold of our business development officer and my courts, his phone numbers on there. And we also have an info at rockmaster.com email. So go ahead and shoot off a question there. I've had a lot recently, especially when we announced that 12 kilometers north of the eight kilometers, we started finding similar mineralization. So I think it's gonna be an interesting winter and summer coming up, definitely. I agree 100%. I must remind everyone that RichTV Live is strictly for information and education purposes, please do your due diligence, do your research before you invest in anything we talk about or discuss here on RichTV Live. In saying that, I do believe this is a company as you heard John talk about, that is undervalued, underappreciated, underexposed. Put on your radar, put on your watch list. You can see the symbols here, RKR in Canada, RKMSF in America. Thank you guys for watching. If you're not winning, you're probably not watching. We'll bring you the winners and we'll bring them to you first. Thank you for watching, everybody. And thank you for joining us today, the CEO of Rockmaster Resources Corp, John Mirko. Sounds good. Thank you very much. Thank you, John. We'd love to invite you back to the show anytime you have any big breaking news or any updates, we'd love to speak to you directly. And for those of you guys that are home that are watching, let me know what you guys think, comment on the video, smash the like button. Thank you for watching, everybody, and have a nice day.


Income tax 2022-2023, business expenses, interest. Let's do some wealth preservation with some tax preparation. Most of this information comes from the Tax Guide for Small Business for Individuals Who Use Schedule C, Publication 334 Tax Year 2022. You can find on the IRS website, irs.gov, irs.gov. Looking at the income tax formula, we're focused online on income. Remember, in the first half of the income tax formula is in essence an income statement, but just an outline of other forms and schedules flowing into these line items. One of those, the Schedule C, having business income minus business expenses, the net business income flowing in from the Schedule C to line one income of our income tax formula. On the Form 1040, remember that the Schedule C flows into the Schedule 1. We support accounting instruction by clicking the link below, giving you a free month membership to all of the content on our website, broken out by category, further broken out by course. Each course then organized in a logical, reasonable fashion, making it much more easy to find what you need than can be done on a YouTube page. We also include added resources such as Excel practice problems, PDF files, and more like QuickBooks backup files when applicable. So once again, click the link below for a free month membership to our website and all the content on it. Which flows into page one of the Form 1040 line number eight. The Schedule C is the profit or loss from business has an income statement format. Income minus expenses were focused on the expense side of things here. In particular, the interest expense. All right, so let's dig into it. Interests, you can generally deduct as a business expense, some or all interests you pay or accrue during the tax year on debts related to your business. Now note that interest gets a little bit confusing because it's changed over the year in terms of some of the personal kind of interests that's been deductible. And you also have some interest that's still deductible that's a little bit different than a business expense like the home mortgage interest for example. So in other words, you would expect that interest would be something that would be deductible if it's business related interest. So for example, if you're starting to schedule C type of business, business, home, white business. And you need to buy equipment in order to start the business. Oftentimes you have to finance the purchase of the equipment taken a loan out to purchase the equipment. And because you took the loan out for the equipment that's being used on the business, you would expect the rent on the purchasing power that being the interest to be a deductible item. So that general scenario, you would expect that to be an ordinary and necessary business expense of financing the business. The reason it gets a little bit confusing is because you might also think, well wait a sec, like mortgage interest is deductible and mortgage interest is deductible on the schedule A and it has to do with a personal item. So why is that deductible? Don't know. It's a weird situation because they decided they wanted to stimulate the housing market or something like that. So they allowed the mortgage interest to be deductible. So that's kind of an outlier, strange situation. But you can also have a situation where you use part of your home out for a business office or something like that. So now you've got an interest on the mortgage which partially is for the business use. And so the question is, do I get to deduct possibly part of the interest of a home office? So you might have to break out the interest in that situation between business versus personal. And you can look into the home office for more there. And then you can also have situations where the business loan, you take out a loan which might have a partial business and a partial personal use. And that could also kind of complicate things because you generally want to break those two things out to business and personal because the business side is deductible. But sometimes the bank isn't so concerned with what's deductible or not. So you want to have collateral. So you might be able to get a loan that's going to be collateralized by something. And then the purpose of the loan might be for business or personal. And then you'd have to be breaking out between the business and personal. One more kind of situation that's a little bit confusing is that you might take out a business loan and use something that's collateral that is personal in nature. Like the home is what the bank is usually going to be looking for. So if you don't pay the loan, the home is collateral. That's more secure kind of collateral. But you took out the loan not to make an improvement to the home or something like that. But you used it for a business loan or something like that, which is again a little bit of a weird situation because now you needed the financing for the business. The bank wanted something as collateral that could be personal. So that's where these things get a little bit muddy. But the general rule, if you took out the loan to finance the purchase of equipment or something like that for the business, you would expect the rent on the purchasing power of the money, the interest to be deductible. All right, interest relates to your business. If you use the proceeds of the loan for a business expense, it does not matter what type of property secures the loan. So securing the loan, meaning if you don't pay the loan, the bank comes after it. Is it your home? Is it your car? Is it your equipment? So notice what they say that it doesn't matter what the type of property secures it because what matters is what you use the funds on. Did you use the funds for business to buy like equipment or something like that? Or did you use it for something personal to go on vacation or whatever? So you can deduct interest on a debt only if you meet all of the following requirements. You are legally liable for the debt. So you have to pay the debt back. Both of you and the lender intend that the debt be repaid. So clearly, if one doesn't intend for the debt to be repaid, it's not really a debt. It's more of like a gift or something. So you and the lender have a true debtor-creditor relationship, which would indicate the first two would indicate kind of the third.  You're not having a gift or some kind of family money transfer or something like that that's not debt. So certain taxpayers are required to limit their business interest expense deduction. See the instructions for form 8-9-9-0 to determine whether you are required to limit your business interest expense deduction, who is required to file form 8-9-9-0 and how certain businesses may elect out of the business interest expense limitation. You cannot deduct on schedule see the interest you paid on personal loans. That's the big key here, right?  And they took the loan out for that reason, which lucky, lucky you. I wish I was, but whatever. So if a loan is part of business and part personal, you must divide the interest between personal part and the business part. That's when it gets messy. If you got a loan and you used it partially business, partially personal, then you need to only be able to deduct the portion of the interest that is personal. Example, so in 2022 you paid $600 interest on a car loan. During 2022, you used the car 60% for business and 40% for personal. So now you've got this car loan, but you use it 60-40 business personal. So now you've got the interest related to it. So you can only deduct $360, which is 60% of the $600 for 2022 on the schedule see. The remaining interest of $240 is non-deductible because it's personal expense. So more information. For more information about deducting interest, see chapter 4 of publication 535. That chapter, you can find that on the IRS website, of course. That chapter explains the following items. Interest you can deduct. Interest you cannot deduct. How to allocate interest between personal and business. So if you have questions that go into more detail in terms of is this a deductible item or not possibly because it's a more complex kind of situation in terms of the loan, you can go into that publication or if you need more instruction in terms of how to deduct. If you need more instruction in terms of how to allocate the interest between personal and business, you might have a more complicated situation there. You can take a look at the publication. Limitation on business interest. I went to deduct interest. So, you know, obviously you could have an accrual versus the cashed based system. So usually we kind of pay interest. If it's an installment loan, that's what we're most familiar with. So we pay back on a monthly basis. But you can imagine loan structures. If it's a business loan to be structured in other ways. And then the question is, well, if I accrued interest and have not yet paid it, what time period should I be deducting the interest when I incurred the interest or when I paid it for similar thing to like rent, right? If I had my office building that I rented the office building, usually I paid the rent monthly, but I could imagine other situations of the rent where I incurred the use of the office building but came to some kind of agreement that I'm going to pay them later. Well, then the question is, when do I get the expense when I incurred it or when I paid it kind of situations? Okay, so the rules for a below market interest rate loan. So this is generally a loan on which no interest is charged or on which interest is charged as a rate below the applicable federal rate. Now this is an interesting situation because you might encounter situations where you have a loan but no interest rate was calculated on it for whatever reason.  Try to like don't calculate the interest they kind of imputed into the payments and loans between family members sometimes or something like that where you might have situations where you don't calculate the interest but the idea would be that if you structure the loan without interest being charged on the loan then it's not like no interest is being charged. What really happens is that you have imputed the charge of interest in the loan. So for example if you were a financial and you're going to loan someone money let's say you're going to loan someone $10,000 or something for five years or something like that well then you're not just going to give them $10,000 and then say you just pay it back to me in five years because even if you totally trusted them to pay you back in five years then the $10,000 you're going to get back in five years is going to be worth far less than the $10,000 you have now due to inflation and the fact that you could have used it today to earn money you could have invested it and earned money on it. So that doesn't usually happen unless it's like a family member or something like that that you're given a loan to because you're not going to actually get the fair market value even of the money back from the loan little loan making money on the loan. So you would expect then that there would be so you would expect that if a situation was set up so no interest was involved that if it was an arms length transaction the interest was actually imputed in the amount of payments that are going to be taking place so then you have to go in and kind of impute and think about what would be the appropriate market interest rate for this particular loan which can get a little bit messy.


Now it comes to this right side again. Konsei hugging this right touch line. He whips a ball into a dangerous area, and the header is down and in from Konogalaga. A simple ball into the penalty area, and I'm afraid it's not the first time we've seen Bournemouth lose their man in that area. Happened against Leeds last week here when Banford scored. This time another man in white, Konogalaga has done the same. It's Bournemouthville, Chelsea won. Here's Christie just outside the penalty area. Vineyour onto his right foot. Viney tries to bend it! Haps his wrong foot round it, and it bounces off the right hand post. And Bournemouth have cancelled out the deficit through Matias Vineyour's first home goal in the Premier League for the Uruguayan. One-one. Well, that'll go a long way to be in, pretty close to our goal of this season. Ziyech is standing over it with his left foot, Stirling's loitering as well, but it looks like Ziyech is the one who's going to be delivering this in. Lands it about the penalty spot. Badiashield coming in, and he's turned it in! The big French defender has scored his first goal for Chelsea from the set play. Neto did his best down at the left-town post. They ended up in the corner, and Chelsea, with nine minutes remaining here, might be ending their sorry run with a late winner from Benoit Badiashield. Bournemouth won, Chelsea two. Here come Chelsea, with Stirling into the penalty, and they've stood off, and Jale Felix has finished the game. That's way too easy. Stirling locked it sideways in the penalty area, and Jale Felix with one of his first touches since coming on, has slotted it bottom left corner, and Frank Lampard's sorry run will be ending here.


l issues and challenges that we as a country, like every country across the world faces. Such work is groundbreaking as it reaches out into communities across Fife and further afield. Climate change poses one of the greatest threats for future generations. I am delighted that, through their project Follow Our Footsteps, the centre is going to cover new topics every month, highlighting their impact on climate change and sharing that with the wider community on their Facebook page and website, explaining how they are getting involved, what other local organisations are doing and other top tips. We need this kind of community action to build a mass movement against the causes of climate change, where we take action ourselves but also build the case in our country and across the globe for more government action on climate change. They say that from little acorns grow mighty oaks, and this is why organisations such as the ecology centre should be seen as key partners. We just had a debate in Parliament earlier today on social enterprises and the role in Scotland. I would say that this one social enterprise has set out a clear path and agenda and deserves the support of government at every level. Whether it is supporting volunteering or volunteers working with families, with children, with schools or supporting business opportunities and raising awareness of environmental issues, this centre is a massive success story that should be celebrated. Well done on 20 years and tears to a good future. The last of the open debate speakers is Finlay Carson. Thank you, Deputy Presiding Officer. Having recently been appointed the Scottish Conservative spokesman on the natural environment, I am pleased to have this early opportunity in my role to speak in the debate tonight. I thank Clare Baker for bringing it to the chamber. As a farmer, the natural environment is a subject that I have long felt passionate about both in my time in politics and in my time growing up and working in what I consider Scotland's most beautiful constituency. I am quite sure that the minister might have something to say about that. Although I am a member who does not represent the area in question in tonight's debate, I wish to echo the thoughts of others and praise all those associated with the ecology centre in Kinghorn for their tireless work over the last 20 years to truly serve the community. While looking into the work of the ecology centre, I was struck by the following sentence that was found on their website that wonderfully sums up their mission. I quote, we inspire positive change through directly connecting people and the natural environment for the benefit of both. It truly has community at the heart of its activities, giving people opportunity to work in and to learn about the natural environment. With our ever more rapidly changing world, it is important that our future generations learn about the environment and where better to do that but in the countryside on their own doorstep. The ecology centre brings communities together and helps to develop confidence and skills that I am sure would not have been so easily accessed locally if the ecology centre hadn't flourished over the last 20 years. It is a real testament to the dedicated volunteers and supporters that that has been the case. I am sure that you are aware, as a member for Galloway and Western Fries, of long campaign for the region to be designated as Scotland's next national park. It would be a remiss of me not to mention the fine work on this matter carried out by my predecessor Sir Alec Ferguson. A national park would be a fitting legacy for our distinguished former presiding officer. Of course, a designated national park would be on a totally different scale to the ecology centre but there are definitely lessons that can be learned from the success of the centre over the last two decades. If a national park is to become a reality in Galloway then it's going to need the support of the community right from the start. The association behind the bed has been working across the region, engaging with community groups because it's a vital step in pressing the government for action. When I speak to locals I don't think that getting community backing will be an issue. The ecology centre is showing that if you get involved in a community while developing a project they will get behind the project and encourage other people to join in. Indeed, the ecology centre offers up apprenticeships which help our young folk to gain invaluable practical knowledge as part of their course and indeed the wider working environment around them. Equally, Galloway's environment has so much to offer locals and visitors alike. Living in the heart of a constituency I explore our wonderful natural nature on a regular basis and marvel at the rural economy and the environment that I live in. I would also like to highlight the ecology centre's positively encouraging good conservation practice, again a trait that we have been in line with practices in the national park. Protected areas can help protect some of our most important endangered species but at the same time and vitally it can help encourage sustainable economic growth. It's hardening to see the ecology centre encouraging and continuing to take those practices forward and it's something that we should all be thinking about when it comes to protecting our wildlife. I note that the centre enjoyed a day of celebration on Saturday to welcome their 20th anniversary with a fun day of events for all the family. With this centre having communicated its heart I'm sure there will be plenty more birthdays to come and I hope my region can soon be joined them in planning similar celebrations. Somewhat tenuous at times Mr Carson. I now ask the minister to respond to the debate that you have around seven minutes please minister. Thank you very much Presiding Officer and it's an absolute pleasure to be able to be here tonight to respond to this debate, which is my first member's debate to respond to. I really want to thank Claire Baker for bringing forward this motion for debate today because it really is just fantastic to hear about the impact that the ecology centre has had and the work that they do. I would completely echo the sentiments of Finlay Carson there in recognising that. I would absolutely love to take Claire Baker up on her invitation to go and visit the ecology centre because when I was looking through all the work that they've done and looking more into the background of this, I was already thinking that I thought that this sounds like a fantastic place that I really have to go and visit so really keen to make that happen. You said the magic words anyway when you mentioned the tea, coffee and plenty biscuits. Having sat next to Claire Baker on the Europe Committee, this is something that we both very much enjoyed though some definitely more so than others, not looking at anyone in particular. I would also say that it was fascinating to hear a bit more from David Torrance, who is the constituency member as well, about the background to what that area was like before and the massive changes that we have seen as a result of the work that the ecology centre has done. Local was a word that came through quite a lot in his contribution. The centre for the local people is about the local environment, the local community, local jobs and all the opportunities that that offers. Of course, that helps with the wider sustainability of the area. The ecology centre is a real community hub and I think that it is fantastic hearing about all the work that they have done. We have heard so much about that impressive work throughout the debate tonight and none of that would have happened if it had not been for the efforts of the local community and the residents of Craig and Cult farm in creating the centre at Kinghorn and Fife. The ecology centre, as we have already heard, is an inclusive community led charity that inspires positive change through directly connecting people and the natural environment. I am also very glad that the Scottish Government had some role in supporting them. In January 2014, the Scottish land fund approved a grant of £54,901 to support further development work, as Clare Baker mentioned in her contribution. With that help, the ecology centre was able to purchase the land at the east end of Kinghorn Loch, on which now sits the new centre and grounds. It is fantastic that we can be here tonight to recognise and celebrate the ecology centre's 20th anniversary in the Scottish Parliament, because it is a true success story. The Kinghorn Loch site has been continuously improved and developed by staff and volunteers over the past 20 years. As I said, we heard a lot about that from David Torrance and it continues to do that. It is promoting biodiversity, delivering community horticulture projects, environmental education and outdoor volunteering projects. That is where I was really interested to hear more about the tool library and the toolshed that was mentioned by Clare Baker and Alexander Stewart as well. The fact that that is based on the mentioned model and where the tools can actually be hired by the local community themselves, as well as the dimension friendly element to that too. Other projects that they have include the music shed, a pond for the children to do, a pond dipping, a meeting space and activities for those dealing with mental health issues, nature therapy and classes in a whole range of skills. For example, aromatherapy, flower arranging and outdoor learning, where the ecology centre works with around 30 schools across Fife. Another project that I was very much interested to hear about tonight was Alex Rowley that mentioned it and a few others. Clare Baker was the follower of our footsteps campaign and the whole climate change element. Looking at what we can do as individuals and how we have our own impact, that is something that I feel strongly about. I think that it is for Government to take a lead and to make sure that we put the correct legislation in place. We do not have to sit back and wait on that happening. There are things that the community can do, and there are things that we can do as individuals to help with that process. It is very important to highlight that. Education is a very strong element of the work. Environmental education has always been at the heart of the ecology centre. As we heard from Alexander Stewart this evening, that demand for educational visits has continued to grow. The centre now works with hundreds of school children each year, helping them to understand the importance of and how to care for our environment. The ecology centre was also one of the 16 projects that I approved recently for the outdoor learning and nature fund. Earlier this summer, I launched that fund alongside Scottish natural heritage at Jupiter, Artland and Edinburgh. The outdoor learning and nature fund is an absolutely vital project because it really aims to connect our young people from nursery age, from school age with the environment, because it is something that all children should be able to enjoy, regardless of their socio-economic background. The ecology centre was awarded £27,809 for the muddy books project, which will see them work with three schools in Fife to embed a sustainable model of progressive outdoor learning. Again, that is something that I hope to hear about when I am able to visit them. When it comes to connecting people in nature, the ecology centre is one of the key organisations in Fife that does that. It puts such a strong emphasis on creating and encouraging access to the outdoors and providing volunteering opportunities, particularly for our young people. In terms of employment, the ecology centre employs 11 members of staff, as well as providing vital employment training opportunities through Project Scotland and Community Jobs Scotland, as well as accommodating school and college placements. I know that, as we have heard tonight, there is an army of volunteers who regularly attend the centre to help with all the many and varied tasks that they have on this site. The Scottish Government supports the environmental education work and the biodiversity conservation work of the ecology centre at Kinghorn, because it inspires positive change through directly connecting people and the natural environment for the benefit of both. I really want to take this opportunity to thank those who have contributed to the debate tonight in celebrating 20 years of the centre and recognise the important work of the ecology centre, wishing it every success. To the ecology centre, I believe that there are members from the gallery. Thank you so much for all the work that you do. Congratulations on your 20 years of work. Please keep up the good work and I look forward to meeting you soon. That sounds like quite a place. That concludes the debate and I close the meeting.


One of the aims of the patent system is to get technology out there, disclosed. We've taken another great step forward in making sure that that happens to a universal audience and with universal sources. So we've developed at WIPO through some very, very talented staff members as well as through an international network of universities and researchers. A neural machine translation facility which is a very much improved version of our statistical machine translation facility and this has the advantage of rendering accessible in potentially all languages all of the patent applications which are the latest source of technology filed in all the languages of the world. We've started initially with Chinese, Chinese into English and English into Chinese following extremely shortly and this, why have we done that? Because China is rising 14% last year of all international patent applications were filed in Chinese. This year we expect that to go to something like 17 or 18% and it's rising increasingly rapidly. So in Chinese these patent applications will now become accessible at least to the point of having a very good insight into what the patent is about the patent invention is about in English first of all but increasingly in all other languages.


The secret of discovering lucrative opportunities in your country One day a poor young boy went to his father and asked him Dad, can you please tell me where the world is going? The father looked surprised and announced to the boy. Sorry. Nobody knows The boy was disappointed and asked dad. You mean you know nothing about the future Hmm, the father reluctantly answered. I know it will be different from the present In today's video, I'm going to be sharing with you how to discover lucrative opportunities That can make you rich anywhere you are in the world if you're new here consider subscribing So you won't miss other interesting videos like this Now let's get into it The father in my previous story doesn't know everything about the future But he knows something the future will be different This is what you need to be rich in life. The understanding that the future will be different Change and opportunity So many people in the world are looking for opportunities to become wealthy What many of these people don't understand is where opportunity leaves Opportunity leaves inside change change is the father of opportunity. It's very important for you to understand this So let me explain with some examples For many years humans travel majorly at the back of a horse By the early 1990s, however, we discovered how to mass-produce automobile This is a change and like every change it comes with a lot of opportunities Now the world can use a lot of gasoline Now we can have tractors to work our farms mass-produce foods and make a lot of money doing so The smart people who understood this change became rich by positioning themselves in the right place While everyone else made excuses and complain This is another example. The printing press was invented in 1440 This was a massive change because for the first time in the world we started mass-producing books daily news and others Several companies got started including the newspapers and magazine companies Some smart individuals became rich by positioning themselves to take the chance of the opportunity While everyone else complained and made excuses The invention of the radio in 1895 was a miracle, but something is about to happen 32 years after the radio was invented in 1927 we invented the TV That was a massive change Some smart people started TV stations some use TV to advertise their product and made millions Some use the TV to gain political influence and millions of others use the TV for numbers of things We can't possibly list in this video But here's the point TV was a big change and every change brings opportunities The problem with most people in the world is that they are too busy making excuses that you don't even see the gold in their backyard The telephone was usually very boring, but again, we have a mobile phone Mobile phones came with numerous opportunities, but yet we still have smartphones Because we have smartphones many smart people all over the world have become rich Some have created million-dollar apps. Some have created telecommunication companies Some have created blogs some have created successful YouTube channels That are making them more money than their fathers ever made and others just because we have smartphones I can go on and on to make a list of these change Which will include the internet, but you've gotten the point the point here is simple If you are looking for opportunities pay attention to changes because change is the father of opportunity Most people don't understand this and that's why they are poor Consumers of change Aside from the fact that most people don't understand that opportunity to make a lot of money from change Most people are joyful consumers of change. They are happy that we now have the internet They are happy that smartphones are now magical. They are happy because we can now use uber They are happy because we'll soon be living on another planet They are happy because of a lot of changes that are happening in our world every day and they joyfully consume The fruits of those changes This is pathetic. I tell you you see most people would have been super rich if they are not mere consumers Please don't get me wrong. Everyone has to consume to leave We all have to eat use phones clothes cars the internet and others What makes people become mere consumers is when they don't think when you don't think beyond consuming Then you are on the wrong path if you use a phone You should know that at least three people are making money from you just by using that phone By using the internet, you should know that at least 100 people are making money from you monthly from your monthly activities on the web if you use a car You should know that at least 10 people are making money from you because you use a car These people making money from you isn't a bad thing You not making money is While I cannot avoid being a consumer I can also create what other people consume and that's what I do I consume change, but I also take advantage of change Don't be a mere consumer of change pay attention to changes and study to know how you can make money from changes The missed opportunity I Was just about 14 years in the year 2000 when the internet exploded with blogging as a carrier Though I'm a good writer. I missed the opportunity to be part of the blogging era Another thing I've heard people saying is called missed opportunity While you can miss certain opportunities if you pay close attention to changes going on around you There's always one other opportunity around the corner because the world changes every minute Just when blogging is no longer the big thing Video platforms like YouTube came to be the king and here I am today Doing the exact same thing I ought to be doing with the blog right here with videos So don't mourn because you feel that you've missed an opportunity Instead pay close attention to changes that are going around you every day the war of change The other point I should make in this video is that change is a two-edged sword While change open doors of opportunity for smart people to become wealthy it also makes many people poorer Just think about artificial intelligence Well millions of people are going to lose their job because of that and for such people the AI is a curse But instead of the artificial intelligence to be a curse for you What if you take some time to study what that technology means how it works and what opportunity it brings Looking to the future Here's the thing if you really want to be rich you have to know how to discover Opportunities before everyone else know about it to do this you have to pay attention to the future You have to watch out for change Have you read in the news that a new technology was invented that can make a significant change in the way we live? Take an art to read about it Have you heard about a new internet platform everyone is rushing to? Take an art to study what is going on Do you read about any major change? Make sure you understand and follow the news about it very closely The only way to be rich is by seeing the future before it comes and the only way to see the future is by paying attention to change Do you want the opportunity to be rich? Pay attention to change and take chances before everyone is aware of the change Thank you so much for watching our videos. Are you between the ages of 15 and 40? Then we invite you to join our new channel Which was specially created to share with you inspiration and life's lessons to succeed in life We call it under 40 TV kindly look at the description box to join the under 40 TV. We love you