Yorktown Chamber of Commerce
November 20, 2018
Mellott Family Center
INTRODUCTION AND WELCOME: Keith Gary, Rob Keisling, Tony Miller, Kallie Sulanke, Sarah McCord, Greg Hinshaw, Maureen Walby, T. J. Bush, Lindsay Stafford, Chris Day, Ryan Ballard, Rich Lee, Matt Anderson, Maura Hoff, Brendon Comp, Rick Yencer, Tim Williams, Mark Goodpaster, Fran Bullock, Mary Ann Stroeh, Carly Acree-King, Ed Armantrout, Pete Olson
QUESTION OF THE DAY: Will you be participating in Small Business Saturday, either as a shopper or a business? Most responded with participating as a shopper.
BREAKFAST SPONSOR: LifeStream Services, Inc. – Tony Miller – LifeStream serves seniors and people with disabilities in Delaware and surrounding counties by providing services that enable them to remain more independent. Miller provided information about the AngelWish program that provides gifts and necessities to low income seniors in the service area during the holiday season. Miller invited local businesses and individuals to participate in the yearly project.
SECRETARY REPORT: Approved as submitted.
TREASURER REPORT: Approved as submitted.
LUMINARY REPORT: Barb Baker – The committee will be cutting water jugs at the Historical Alliance, Monday, November 26, 6:30 p.m. The vendor list for the event is almost full. There will be no dinner available at the festival this year, but soup and sandwiches will be offered by the Yorktown Band Boosters.
AWARDS LUNCHEON: Sarah McCord – Registration extended to December 4, as information needs to be provided to Westminster.
SCHOOL REPORT: Greg Hinshaw – Construction projects are on schedule. Discussion and planning for the elementary school and Yorktown Middle School is underway, with plans for the Community School Foundation being finalized. Girls Volley Ball won 4A title with thanks to community for support.
TOWN REPORT: Pete Olson – Bridge work is on schedule with the redevelopment moving forward. Three new pieces of fire equipment have been purchased for the fire department.
BRE LUNCH AND LEARN: Event will be held on the third Thursday of January (17th), February (21st), and April (18th) at the Mr. Mouse Catering Room, from 11:30 a.m. – 1 p.m. Cost is $5.00 per session. The speaker for the first session will be Ted Baker, Innovation Connector.
ELECTION OF OFFICERS: Nominations were closed with 2019 slate of officers elected as presented.
PROGRAM – Whitinger and Company – T. J. Bush – Bush reported that the tax rate is coming down with approximately 80% of individuals paying less tax, although most will see the reflection in their take-home pay, rather than at the end of the year. Bush indicated there will be big change in deductions with $24,000 the standard deduction cap. There will be little tax benefit for charitable deductions. Bush suggested that charitable deductions be made every other year to utilize a higher tax benefit.
Child credit is now $2,000. Home equity line of credit interest is no longer deductible unless the funds were used to for real estate improvement. Home equity loans from previous years may have interest that is still deductible if the loan was used for home improvement.
Bush stated there is discussion about eliminating the alternative minimum tax for small businesses. Changes to the meal expenses with deduction at 50%, while entertainment expense is no longer an allowable deduction. New equipment purchases can now be written off at 100% in the year it is purchased. There is an increased automobile deduction but the vehicle must be used for 50% of business. If the vehicle is purchased at the end of the year and only used for business during that time, it can be used at 100% in the first year of ownership.
Indiana is now allowing at 529 plan for credit for private school, K-12. To receive a better charitable giving deduction, give stock in lieu of cash. The value of the stock, which must have been held for one year, provides a better tax deduction as it can be shown as current value rather than the original cost of the security. Tax rates on annuities remain the same.
Question and answer session followed the presentation.
ANNOUNCEMENTS: Yorktown Kiwanis Club will be working at the Christmas tree sale. The tree lot will open on November 22 at noon; “It’s a Wonderful Life” will be presented at Muncie Civic Theater; Secret Families of Delaware County would like sponsors for the 2018 program, with donations of $550, a family will be provided a decorated tree, presents for the entire family, a Meijer gift card to purchase Christmas dinner, and a Bible for the family. For more information contact Al Holdren 765-751-3209; Four for the 4th early registration to begin November 22, with reduced price this year, working in conjunction with IU Health; Ham loaves are available at the Methodist Church – Contact Barb Baker; Breakfast Sponsorships are needed for the Chamber; Feed My Sheep providing Thanksgiving dinner for 12 new families (30 individuals) in cooperation with Reach.
TIP OF THE MONTH: Mark Goodpaster – Kudos to the Yorktown Girls Volley ball Team – If your purse or billfold is stolen or lost, the post office will deliver a lost driver’s license to the owner’s address; put a list of three incorrect pin numbers in your billfold causing the thief to be locked out of any account on the third attempt; when searching for best prices for plane tickets, delete former cookies as the price will go up otherwise; put things you want to take with you on a trip with your shoes to avoid leaving important items behind; to dry shoes in the dryer, place shoestrings in the door to prevent them from rolling in the dryer. Final thought – Don’t make decisions when angry or promises when happy.
NEXT MEETING: December 18, 2018 – 11:30 a.m. – Westminster Village – Awards Luncheon – Bring a Guest!