Walked outside at 2 minutes past new years to let the my boys hear there very first new years gunfire celebration and to shoot off 4 shotgun shells, one for each family member. As we walked into the back yard I noticed a very bright red pulsating object hanging stationary in the sky at approx 30 degrees above the horizon in the east. At first I thought it must be a plane as we live directly under a flight path for large commercial planes. It was then that I noticed an actual plane on the normal flightpath approaching from the north east at a very high altitude and a distance of several miles. The object in question appeared further east and lower than the flight path. Mt wife and my 2 sons ages 8 and 7 witnessed the object and the plane. We commented how strange it was and were able to see the object for at least a minute possibly longer. I turned to my wife to speak to her for just second and when I turned back to the light it was gone. There was no sound. The weather hear was hazy to slightly overcast but not enough to mask all the stars. North star was visible as well as a few others.None of were scared or had any strange feelings except that it was not a normal light in the sky.