Thursday, August 25, 2011

As Congress scrutinizes every nook and cranny of the budget for possible revenue, a surprising court decision is allowing clergy members to buy or live in multiple homes tax-free. The U.S. Tax Court ruled that Phil Driscoll, an ordained minister and Grammy Award-winning trumpeter who went to prison for tax evasion, didn't owe federal income taxes on $408,638 provided to him by his ministry to buy a second home on a lake near Cleveland, Tenn. Under a provision of the tax code known as the parsonage allowance, first passed in 1921, an ordained clergy member may live tax-free in a home owned by his or her religious organization or receive a tax-free annual payment to buy or rent a home if the congregation approves. The Tax Court ruling, made final in March, extends the parsonage allowance to an unlimited number of homes, which may be owned either by the religious organization or the clergy member. http://online.wsj.com/article/SB10001424053111903635604576476340089320176.html?mod=WSJ_hpp_MIDDLE_Video_second

John Locke, a self-published writer who has built a large audience selling only digital books, is turning his attention to the physical paperback business and has struck a deal with a traditional publisher. CBS Corp.'s Simon & Schuster will distribute in paperback format eight of Mr. Locke's thrillers, which feature a former CIA assassin named Donovan Creed. Mr. Locke, through his John Locke Books imprint, will publish the books and Simon & Schuster will handle sales and distribution, including returns. "The e-book world has created an opportunity in self-publishing that simply didn't exist 18 months ago," said Arthur Klebanoff, chief executive of New York-based RosettaBooks LLC, a digital publisher house. "But one of the things not easily understood is that for every John Locke, there are probably 5,000 authors trying and falling short. This level of success is like hitting the lottery." Jane Dystel, Mr. Locke's New York literary agent, said that she was approached by Simon & Schuster and that the two then came to terms on a distribution deal, which will begin in February 2012. http://online.wsj.com/article/SB10001424053111903327904576524463148090224.html

billet (BIL-it)
verb tr., intr.:
1. To lodge or to be quartered.
noun:
2. A civilian place (as a private home) where soldiers are lodged temporarily.
3. An official order directing someone to provide lodging for soldiers.
4. A short letter or a note.
5. A job appointment.
6. A chunk of wood, suitable for fuel.
7. A metal bar or ingot.
For 1-5: From Anglo-Norman billette, diminutive of bille (bill), from Latin bulla (seal, sealed document), from bubble (amulet). Earliest documented use: around 1440. Note: The letter or note sense of the word billet is apparent in the French term for a love letter: billet-doux (literally, sweet note).
For 6-7: From Old French billette/billot, diminutives of bille (tree trunk), from Latin billa/billus (branch, trunk). Earliest documented use: around 1440.
A.Word.A.Day with Anu Garg

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From: N. L. Zalokar Subject: billet Billet is also the name of the strap(s) on an English saddle to which the girth is attached. Check the billets on your saddle a second time before putting your foot in the stirrup.
From: Hope Bucher Subject: billet-doux Because of its French origin, the religious order, R.S.H.M, in Tarrytown, New York, had a custom of gathering all of the nuns together for a "billet-doux" reading every spring. Since it was the next year's assignment and could mean that a nun was being sent to a convent in South Africa or Brazil, it was often not considered a "sweet note". The gasps and screams, as each "billet-doux" was read from the auditorium stage, approached those heard at a horror movie. The vow of obedience left no choice but to pack and leave.
From: Andrew Pressburger Subject: Coronary In addition to having multiple meanings, coronary is also an example of nominalization, i.e. an adjective used as noun, the meaning of the latter understood without actually being stated. E.g coronary arteries, coronary thrombosis, coronary bypass operation, and the like. Other instances abound. A dirigible as an airship whose movement can be directed; a deductible is a portion of a benefit shouldered by the beneficiary. Most famously, there is the portable, which can be a pension, an insurance, a classroom, or a toilet, with the choice having career-defining implications. Especially as it's pronounced in certain dialects as potable, leading to further complications.
From: Bill Richardson Subject: Fugue The flight meaning of fugue induced me to make sure you are aware of the Terrafugia flying car. The prototype has flown successfully and received clearance from both the FAA and highway safety administration.

In the first significant design change in 67 years, United States currency was redesigned in 1996 to incorporate a series of new counterfeit deterrents. The new bills were issued beginning with the $100 bill in 1996, followed by the $50 in 1997, the $20 in 1998 and the $10 and $5 bills in 2000. The Bureau of Engraving and Printing announced that new designs would be undertaken every 7-10 years to stay ahead of currency counterfeiters.
http://www.newmoney.gov/currency/history.htm

Authors (alumni) from universities
University of Cincinnati http://magazine.uc.edu/favorites/authors.html
University of Illinois at Chicago http://www.uic.edu/uic/alumni/authors/index.shtml
University of Delaware http://www.udel.edu/udauthors/

Authors (not restricted to alumni) from university presses
University of Nevada http://www.unpress.nevada.edu/ForAuthors/
University of California http://www.ucpress.edu/resources.php
University of Notre Dame http://undpress.nd.edu/Authors/

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