Yorktown Chamber of Commerce
Monthly Meeting – November 15, 2022
Whitinger and Company LLC
1100 W. White River Blvd.
Muncie, IN 37303
INTRODUCTION AND WELCOME: Ed Armantrout, T.J. Bush, Mary Ann Stroeh, Steve Stroeh, Kristi Ingram, Rich Lee, Carolyn “Buffy” Grieves, Kat Blankenbaker, Erin Ailstock, Sarah McCord, Tim Williams, Mark Goodpaster, Tyler Ewing, Joel Brumley, Susan Brumley, Laura Mickler, T. J. Weir, Ryan Gernand, Lon Fox, Jeff Robinson, Scott Metzler, Keith Gary, Maureen Walby, Lani Richey.
QUESTION OF THE DAY: Since this is National Entrepreneur Week, who is your favorite entrepreneur? Many expressed various people who had influenced them in business while others indicated themselves and their interest in furthering their personal skills.
DUES: Keith Gary reported that dues will increase in 2023, effective January 1. Dues will be $100 for businesses and $50 for individual memberships.
TREASURER REPORT: Approved as submitted.
SECRETARY REPORT: Approved as submitted.
SHAFER LEADERSHIP: Jeff Robinson reported that Yorktown Chamber had been a member for three years, which included attendance at all virtual programs for all Chamber members. Shafer will soon be posting upcoming programs for 2023. Lunch and Learn opportunities will be available for 90-minute sessions on 30 different topics of interest. Customized trainings will also be available at a 10% discount for Yorktown Chamber. Shafer is currently working on a way to track attendance at programs as well as an engagement piece for businesses with specific issues and needs. A motion was made and seconded to continue membership with Shafer Leadership for 2023.
NOMINATION OF OFFICERS FOR 2023: Ed Armantrout presented the slate of officers for 2023 which include Kat Blankerbaker, President; Mark Goodpaster, Vice President; Erin Ailstock, Secretary; and Kristi Ingram, Treasurer. Election of officers will take place at the December meeting.
SCHOOL REPORT: Dr. Greg Hinshaw – The school corporation will be working the newly elected school board members. Hinshaw reported that the school assistant to the superintendent, Beverly Lavelle, had passed away after a 35-year career with Yorktown Schools. Hinshaw reported a water leak that needs to be repaired at Yorktown High School that will be part of an improvement plan currently in the works. Congratulations were offered to the fall sports teams, girls’ volleyball, football team, and both boys’ and girls’ cross country who qualified for semi-state.
TOWN REPORT: Lon Fox – Things are going well and will soon have a new town council coming in. Continuing search for a new town manager, which has been narrowed down to five candidates. There will be two interview teams working with these candidates. The work on the new roundabout at Nebo will take place on 11-30-22. The new Town Marshall is doing a great job, with the police department now fully staffed, and currently looking for two new part-time people. Rich Lee will be stepping down. The town is partnering with the Scouts for Light Up Yorktown which will be held December 10, beginning at 5:30 p.m. The scouts are still selling luminary kits. Questions and answers followed.
CIVIC GREEN: Kat Blankenbaker – Luminary Kits are available for $12 from the Boy Scouts, with funds going to support special boy scout trip for training. There are 12 concerts scheduled for 2023 on the green. The committee is looking for Ambassadors/volunteers to assist with a Chamber booth to provide information about the Chamber during the concerts.
PROGRAM: T. J. Bush – Whitinger and Company, LLC – Bush reported that with the year-end approaching, it is time to review 2022 income tax to ensure that we are taking full advantage of the tax planning strategies that are available. Some tips included: Holding on for favorable rates for appreciated securities for one year, to qualify for more favorable long-term capital gains rates; select the right share to be sold; sell depreciated securities to harvest capital losses, take advantage of 0% federal rates on long-term capital gains; secure a deduction for nearly worthless securities; consider converting traditional IRAs into Roth IRAs; and check beneficiary designations.
If you have appreciated stock that you have held for more than one year, plan to make significant charitable contributions, keep your cash and donate the stock instead. Take your minimum distributions.
For your business, be sure to review if your business qualifies for the employee retention credit. Take advantage of tax breaks for purchasing equipment, software and vehicles. Review and update your accounting policy for expensing small-dollar equipment and fixed asset purchases.
Review your health care costs and coverages and take advantage of flexible spending accounts. Also consider a health savings account. Check your withholdings, especially after significant changes to income, deductions, or credits.
In 2022, the credit for Residential Energy Efficient Property has increased to 30% of qualifying costs, up from 26%. Take advantage of annual gift tax exclusion. Questions and answers followed.
ANNOUNCEMENTS: Yorktown Kiwanis has Abbotts Caramels for sale at $15 per box. Westminster Village will be hosting the Festival of Trees on January 6, 2023.
AWARDS LUNCHEON: Tyler Ewing – The Awards Luncheon will be held at Westminster Village, December 13, 11:30 a.m. – 1 p.m. Reservations can be made on line on the Chamber Website.
TIP OF THE MONTH: Marc Goodpaster – To peel an orange, cut off top and bottom and push the orange out. Padlocks are designed with a small hole which allows for drainage when used outdoors. Runners notice that there are special holes at the top of running shoes which allows the shoes to be laced tighter which prevents blisters.
NEXT MEETING: December 13, 11:30 a.m. – Westminster Village, 5801 W. Bethel, Muncie. – Awards Luncheon