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Day 1
Check on Congress The most important thing you can do this year for your tax planning is to keep an eye on Congress to see whether lawmakers manage to extend popular tax provisions before the end of 2015. Some notable provisions must be extended in order to allow: • Taxpayers aged 70½ and over to make tax-free charitable contributions from individual retirement accounts (IRAs); • Businesses to deduct up to half of eligible equipment placed in service this year; • Teachers to receive an above-the-line deduction for $250 in classroom expenses; • Students and parents to receive an above-the-line deduction for tuition expenses; • Companies to receive a credit for qualified research expenses; and • Taxpayers in states without an income tax – like Washington, Texas and Florida – to deduct state sales taxes. Top ten list created by Grant Thornton LLP As I was doing the last bit of cleaning in our now empty office, I sat for a while to reflect on the many changes Pathways has gone through over the last 5 years since reestablishing in the Charleston area. I remembered the vastness of activity - the plan B's , C's and sometimes even D's - and the emotions that these changes stirred in me. Some great lessons were learned and great strength was realized.
One of my favorite quotes about change is "Change is not merely necessary to life - it is life" (Alvin Toffler). Change can be exciting, painful, scary, etc. Some changes, like the ones we are embarking on now, encompass just about every emotion I can feel - all at the same time. But one thing I know for certain, is that there is no growth if there is not change. While we personally have a limited biological capacity for change, business growth demands it. So I will push myself out of my comfort zone and move, with great anticipation, toward what is to come. My final thought / quote to share is "Follow effective action with quiet reflection. From the quiet reflection will come even more effective action." (Peter Drucker) Please feel free to share some of your favorite "change" quotes - personal or business .... Love the inspiration each brings Thanks, Nanette Slappey West |
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September 2020
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