Linda McHenry

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  • Guest Post by Francis Powell

    Guest Post by Francis Powell

    After posting my last blog post, Francis Powell reached out to me from across the pond to share his take on short stories. Powell was born in England and currently lives in France, where he writes prose and poetry. This is what he had to say:

    Short Stories

    Like a thirty second advertisement, with a short story you have to pack a lot of information into a short space. You need to put an explosive first sentence that grabs the reader’s attention right from the off and immediately grabs their attention.

    I have read short stories that are fairly abstract, but my short stories can have a variety of characters and a strong defined theme that runs through them. There is dialogue and a certain amount of description. Everything has to be concise and the stories can’t go off on any wild tangents, which is not the case with novels, where maybe one chapter can be totally different from another.

    There are advantages to short stories. The writer can put a lot of energy into the story and it can be written in a morning or afternoon, during a period when the writer is inspired and has an urge to externalize an idea that perhaps popped into their heads. A writer of short story can imagine the beginning as well as the end of the story, right from the off. There can be a lot of freshness and spontaneity with short stories.

    People might see a short story in the same way that people in the world of art might see a sketch as opposed to an old painting. A lesser creative art form.

    It is true to say that a writer can develop their style by starting off by writing short stories. This was how I developed. When I first attempted to write, I tried to write a novel. It was a disaster; I lacked the skill and technique. It was through writing short stories that my style developed.

    I remember as a child reading short stories by Roald Dahl, who produced a considerable number of short stories. What struck me was that he always placed an unexpected twist at the end of his stories.

    I guess most genres work with short stories, but horror stories in particular seem to being more successful, with “The Raven” by Edgar Allan Poe often being praised as a great work. MR James is often considered as a forerunner of the great horror writers that would follow.

    Women have contributed some great horror stories, such Daphne du Maurier, who provided the ideas behind three Alfred Hitchcock films. If you have seen a memorable and extremely disturbing film called “Don’t Look Now,” which stars Julie Christie and Donald Sutherland, perhaps you are unaware it originated from a Daphne du Maurier short story.

    For the reader, the advantage of short stories or collections of short stories is that they are not lumbered with long stories which they feel obliged to finish. They offer different tastes and flavours, like an array of hors d’oeuvres.

    Publishers might frown at short stories, because they imagine that they don’t sell like novels do. My advice is if you are not reading short stories, try it, I am sure it will be a most rewarding.

    Powell’s latest release, Adventures of Death, Reincarnation, and Annihilation, explores the inevitable unknown that lies before us all at “death.” It is the subject of a book tour and giveaway between now and March 18. Check out the book tour here: https://www.silverdaggertours.com/tour-sign-ups/adventures-of-death-reincarnation-and-annihilation-tour-sign-ups

     

  • Do You Write Short Stories?

    Once upon a time, if you wrote short stories, you could make some serious money doing so. Nowadays, writing short stories isn’t so lucrative. At least not if you measure success in the form of money.

    Four years ago, I entered the first short story I ever wrote to the 16th annual Writer’s Digest Short Short Story Competition. I loved that story but sadly, it didn’t place in the top 25–which it needed to do to receive honorable mention and publication in the compilation edition.

    I was really surprised that the story didn’t receive mention, so I decided to conduct some more research into the required elements of a short story. I should have done that in the first place. No matter how much we think we know about writing, or publishing, or the market–things are constantly changing and there’s stuff we simply don’t know. For a smart person, I do some pretty dumb things sometimes…

    After conducting my research and taking months upon months for inspiration to strike so I could put that newly learned knowledge to work, I submitted my second short story to the 17th annual WD competition. Mama ranked 15th of more than 4,000 entries. (In reality, it ranked 16th and was fortunate enough to be booted up a place when one of the first 15 entrants withdrew his/her entry because it sold!) It was published in the compilation and has received some excellent reviews.

    During the past couple of years, I’ve found writing short stories to be a gold mine in terms of cultivating idea, honing my craft, and … well … telling stories. I’ve taken the first couple of chapters of a book that never got past the first act and turned them into a short story. I’ve taken ideas that simply don’t support an entire novel, and turned them into short stories. Right now, I’m taking a personal issue I’ve had for some time and, I hope, am in the process writing a short story as a form of catharsis.

    Will I actually publish it? Who knows? But I need to write every day and since writing these shorts seems to be helping me professionally, I’m fine with that. FYI, I revised that first short story and submitted it to a different competition earlier this year. I should know by the end of the month if it won.

    Here are a few tidbits I came up with when research the writing of short stories, followed by some short story markets that interest me. Disclaimer: This is information that appeals to me–it may not appeal to you. Feel free to share resources and info that appeals to you. Other people will likely share your perspective:

    • Word count for short stories is typically between 1,500 and 7,500 words. Having said that, some markets routinely accept stories up to 10,000 words.
    • Flash fiction, or short short stories, are between 500 and 1,500 words. Micro flash fiction can be even fewer than 500 words.
    • Writer’s Digest and Crazyhorse hold annual short story (and other ) competitions, in addition to publishing/buying them.
    • Other markets that publish/buy short stories include Story, The Sun, Fireside, and VQR.
    • The Short Mystery Fiction Society Blog is a great resource, you should check it out.

    What challenges have you faced writing, marketing, and/or selling short stories? Want to share your own resources? We inquiring minds want to know…

     

     

  • Lunch & Learn Webinars

    Lunch & Learn Webinars

    Are you an insurance professional who is interested in the latest news about emerging markets and technologies in insurance?

    If so, register for one or more of the free Lunch & Learn webinars Linda co-presents with Pam Reihs of A.D. Banker & Company. Past topics have included pet insurance, drones, cannabis, InsurTech, senior financial exploitation, and eScoooters.

    These 1-hour webinars begin at 1 p.m. Eastern time and are NOT eligible for CE credit. However, A.D. Banker will provide Professional Development Certificates to students requesting them after they’ve completed the webinar.

    For a list of the scheduled dates, and links to register, click here.

     

     

  • Federal Law Changes that Will Affect Your Tax Return – Part 3

    Federal Law Changes that Will Affect Your Tax Return – Part 3

    Yesterday and Tuesday I published the first 2 posts of a 3-part series about some of the questions people are asking with respect to recent federal legislation. Specifically, those questions are:

    1. Was Obamacare really declared unconstitutional by the Supreme Court?
    2. Were the required minimum distributions (RMDs) at age 70 ½ from your retirement plan really eliminated?
    3. And how about the threshold for writing off medical expenses–was that also tossed away?

    I answered question #1 in Tuesday’s blog post, question #2 in yesterday’s blog post, and will answer question #3 today.

    Not everyone knows or understands about the medical expense deduction that can be taken when filing your federal income tax return. Obviously, if you’re in good health and you spent little or no money on medical expenses, it’s not something you would know about. But for people with serious and/or ongoing conditions, and for the self-employed, the costs of medical expenses can be quite high.

    The IRS has long allowed individuals who itemize their tax deductions on their federal income tax returns to deduct expenses for medical and dental care for themselves, their spouses, and their dependents. (See the most current IRS Publication 502, or Tax Topic 502 on the IRS website.)

    Before the ACA was enacted, the amount of expenses that could be deducted was the total that exceeded 7.5% of the taxpayer’s adjusted gross income. Example:

    • Taxpayer’s AGI was $50,000
    • Total medical and dental expenses paid by the taxpayer for himself and his family during the tax year was $10,000
    • The amount the taxpayer could deduct is $6,250
      • 50,000 x 7.5% threshold = $3,750
      • Deductible amount is the amount OVER $3,750, or $10,000 – $3,750 = $5,250

    When the ACA was enacted, the medical expense deduction threshold was increased to 10%, although it didn’t apply to anyone over age 65 until tax year 2017. The Tax Cuts and Jobs Act contained a provision that said the increase in the medical expense deduction threshold would not apply to anyone in tax years 2017 and 2018. This meant the threshold remained at 7.5% for all taxpayers through 12/31/2018.

    The recently enacted Taxpayer Certainty and Disaster Relief Act extended the lower 7.5% threshold for medical expense deductions for the 2019 tax year. Clearly, if you don’t itemize on your tax return, this doesn’t affect you. But it does affect many Americans, especially those who are older and have chronic medical conditions.

    I hope this series has provided information you can use or pass along. Feel free to reach out to me if there are any other topics you’re interested in learning more about.

     

  • Federal Law Changes That Will Affect Your Tax Return – Part 2

    Federal Law Changes That Will Affect Your Tax Return – Part 2

    Yesterday, I began a 3-part series about some of the questions people are asking about recent federal legislation. Specifically, those questions are:

    1. Was Obamacare really declared unconstitutional by the Supreme Court?
    2. Were the required minimum distributions (RMDs) at age 70 ½ from your retirement plan really eliminated?
    3. And how about the threshold for writing off medical expenses–was that also tossed away?

    I answered question #1 in yesterday’s blog post and will answer question #3 in tomorrow’s blog post. Here’s my answer about the changes the SECURE Act brought to required minimum distributions (RMD).

    The Setting Every Community Up for Retirement Enhancement (SECURE) Act went into law in December 2019 as part of the Further Consolidated Appropriations Act of 2020. The SECURE Act deals primarily with retirement plans–and a number of changes to those plans, especially to qualified plans.

    A qualified retirement plan is established with money that has not been taxed. Examples include an employee depositing money into an IRA or 401(k) with salary before payroll taxes are deducted, or an employer depositing matching funds.

    The IRS has long required individuals to begin withdrawing funds from qualified accounts at a specific age. Why? So it can collect taxes on that money! If a person establishes an IRA, or begins contributing to a 401(k) at age 40, the government doesn’t collect any taxes on the funds in these qualified plans until the account holder begins withdrawing the funds. A person can easily build an account with hundreds of thousands of dollars over a lifetime of working.

    The required beginning date of a retirement account is the date the account holder MUST begin making withdrawals–withdrawals that will be taxed by the IRS. These withdrawals are called required minimum distributions, or RMDs. For people who turn age 70 ½ on or before January 1, 2020, RMDs must be taken no later than April 1 of the year after the account holder turns age 70 ½.

    For example:

    • If my 70th birthday was March 3, 2018, I turned 70 ½ on September 3, 2018. I had to make my first RMD no later than 4/1/2019.
    • If my 70th birthday was October 9, 2018, I turned 70 ½ on April 9, 2019. I have to make my first RMD no later than 4/1/2020.

    Per the SECURE Act, the required beginning date was changed to 72 because many people are working longer. But it only changed for those who turn 70 ½ after 1/1/2020. People who turn 70 ½ after 1/1/2020 must begin their RMDs no later than April 1 of the year after they turn age 72. For example, if my 70th birthday is February 21, 2020, I will have to take my first RMD by April 1 of 2023 because that is the year after I turn age 72.

    One of the issues concerning this age change is the fact that some people won’t have to make any RMDs in 2020. Here’s a Forbes article that explains this issue in more detail.

    One final thing about RMDs. Before the SECURE Act, individuals could not begin a traditional IRA after age 70 ½, nor could they make contributions to it after that age. Now, so long as a person is working and earning income, he or she can open and make contributions to a traditional IRA at any age.

    Check back tomorrow for the third and final part of this blog post series: the medical expense deduction threshold.