Local Organizations Benefit from 24th Annual Rotary Toast
The Rotary Club of New Albany recognized Jerrol “Jerry” and Alice Miles, community leaders and devoted philanthropists, as its honorees for the 24th Annual Rotary Community Toast and Benefit Banquet on Nov. 3, 2017, at Huber’s Orchard, Winery and Vineyards’ Plantation Hall.
Each year the Rotary Club of New Albany chooses an individual from the community who has made important contributions to the local area and exemplifies the true spirit of the Rotary motto, “Service Above Self.” This is the first time since the event began in 1994 that the club has selected a couple for its highest level of recognition.
As customary, each year a portion of the proceeds from the Rotary Toast are distributed to a nonprofit or charity as selected by that year’s honoree(s). The Miles selected to have this portion of the proceeds split evenly to benefit two important causes in our community, the Center for Women and Families New Albany and Brandon’s House New Albany.
The Miles recently joined the Rotary Club of New Albany to announce the donation amounts and to distribute the funds to their selected organizations. During the meeting, members of the Rotary Club of New Albany joined Jerrol and Alice Miles in presenting checks, each totaling nearly $7,000, to Kara Brown from the Center for Women and Families and Kathleen Randelia from Brandon’s House New Albany.
This year’s Rotary Toast Committee Chairperson, Marsha Abel was pleased with the community support for this year’s honorees. “We had tremendous support from the people in our community to make this event successful,” said Abel. “Alice and Jerrol Miles have consistently exhibited our Rotary Motto, ‘Service Above Self’ throughout their lives and during their careers working in this community. The Rotary Club of New Albany was honored to recognize such an outstanding couple who has made our community a much better place through their service and compassion.”
Limeberry Lumber and Home Center Earns Exclusive National Recognition
A growing entrepreneurial success story has earned Southern Indiana-based Limeberry Lumber and Home Center exclusive national recognition within the independent lumber and building materials industry.
LBM Journal, the leading magazine for the lumber/building material distribution channel, named owners Scott and Heather Limeberry its 2018 Entrepreneurs of the Year in the category of “Under $10 Million in Sales.” The award honors company leaders who epitomize the entrepreneurial spirit by excelling at satisfying customers, embracing company improvements and successfully seeking out new business opportunities.The Limeberrys are one of only three business owners nationwide to be recognized as Entrepreneur of the Year for 2018.
“Recognition like this is both a big surprise and an incredible honor,” said Scott Limeberry. “Of course, none of it would be possible without the work and dedication of our entire team, as well as the continued support of our customers and community.”
Scott and his wife, Heather, purchased the business from his father in 2016. They immediately began a significant update and overhaul of its Corydon location, building on its past as a traditional lumberyard while expanding it into a full-service home center. Re-opened in late 2016, the new Limeberry Lumber and Home Center features a beautiful, welcoming new entrance and state-of-the-art showroom to more effectively showcase their impressive expansion of products and service available.
At the same time, the Limeberrys were finishing their acquisition of a hardware store in Floyds Knobs. They updated the location into a full-service hardware store and rebranded it as Limeberry Home and Hardware.
Limeberry Lumber and Home Center is backed by the strength of its status as a member-owner of Do it Best Corp., a U.S.-based hardware, lumber and building materials co-op with thousands of independently owned locations in the United States and more than 50 other countries.
For almost 80 years, Rookie’s Cookies & Cakes has been serving the Southern Indiana community delicious cookies, pastries and cakes.
The neighborhood bakery opened Sept. 19, 1939, in downtown New Albany and quickly became known for their melt-in-your-mouth butter cookies. Once known as the Little Flower Butter Wafer, the sweet treats are still made and produced the same way (sorry, but the recipe is secret) and are aptly named Rookie’s Cookies.
The company also specializes cakes for all occasions – weddings, birthdays, holidays, baby showers – using the freshest ingredients available.
For many of us on the Extol Team, a holiday isn’t complete without goodies from Rookie’s. They make a scrumptious addition to company parties, family gatherings and holiday gifts.
310 PEARL ST.
German American’s Clay W. Ewing Elected 2018 Chairman of Indiana Bankers Association
Clay W. Ewing, president, chief banking officer and secretary to the board of directors of German American Bancorp Inc., Jasper, has been elected 2018 chairman of the board of directors of the Indiana Bankers Association (IBA). He currently serves the IBA as first vice chairman and was elected to his new position at the Association’s annual business meeting on Sept. 11 in French Lick.
Ewing has more than 35 years of banking experience, and he joined German American in 1994 as president and CEO of a subsidiary bank of the company. Active in regional economic development, he currently serves as chairman of the Perry County Development Corp. and as a board member of the Economic Development Coalition of Southwest Indiana, in addition to service on various other civic and community boards. A past southwest region director of the IBA, Ewing is a graduate of Lockyear College and of The School for Bank Administration at the University of Wisconsin.
One Southern Indiana 2017 Annual Meeting
Aug. 15 • Horseshoe Southern Indiana in Elizabeth
Photos by Christian Watson
One Southern Indiana held its 2017 Annual Meeting Aug. 15 at Horseshoe Southern Indiana. Sounds Unlimited Productions produced the “Back to the Future”-themed event. Lisa Huber, incoming chair of the organization’s board of directors kicked off the awards portion. Executive Vice President Matt Hall delivered the year-end review. And President/CEO Wendy Dant-Chesser gave a well-received speech about what the future looks like for Southern Indiana and its neighbors.
Pastries provided by www.cakestoday.com
Friday January 20 marked the night of One Southern Indiana’s event, in partnership with Ideology for an expose on how to get more sales this year than last year. Attendees learned how to acquire more profitable customers or clients.
Author, speaker and Idealogy founder Allen Howie shared a wealth of practical ideas for making your marketing work harder in 2017, regardless of your marketing budget. Large companies, small businesses and individuals all left with new ways to make their marketing more effective and brand more powerful.
If you missed the event, be on the lookout for more, as this idea-packed session only kicked off our revamped, revitalized, re-imagined Sales & Marketing Success Series.
1850 State St. Paris Health Education Center
New Albany, IN 47150
By Doug York, CPA, Partner
Making good tax decisions at 2016’s end can lead to a happy new year in 2017. At year-end, there is a better picture of income and cash flow; now is the time to make decisions that could affect how much you’ll pay in taxes. Tax planning in general shifts income into years with lower tax rates and takes deductions in years with higher rates. If rates are equal, cash flow improves through income deferral and accelerated deductions.
This year is unique: the Protecting Americans from Tax Hikes (PATH) Act brought some certainty to year-end tax planning by making permanent many tax incentives that previously were annually extended. However, the 2016 presidential election results, coupled with the Republican congressional majority, could present a different tax landscape in 2017. Campaign comments indicate the possibility of lower tax brackets and fewer incentives; we’ll not know until an additional tax act is enacted in 2017. Based on today’s situation, we’ll review several strategies and tactics to limit income tax liability for individuals and businesses:
- Married couples typically have tax advantages if they file jointly; however, if one spouse has high medical bills, filing separately can reduce tax liability by increasing medical itemized deductions.
- Buying a home has a range of tax ramifications. If you’re planning to buy a home – and you have loans that don’t allow for an interest deduction – check to see if you can save money by financing as much of your new home as you can, up to the down-payment limit, using any money you’d planned for a larger down payment to instead pay off the non-deductible loans.
- Currently mortgage insurance premiums are deductible through the end of 2016, not 2017. With interest rates still low, it may be a good time to refinance and remove the premiums from your payments.
- One PATH Act item not extended is the deduction for college tuition. If you’re able to take advantage of this deduction, you may want to make the maximum payments by the end of 2016.
- If you’re over 70½, the PATH act made permanent your ability to exclude from income up to $100,000 of distributions from your IRA directly to a qualified charity.
- Accrual-basis taxpayers can declare a bonus for unrelated employees and properly accrued an expense in 2016 as long as the bonus is paid by March 15, 2017.
- Businesses can affect taxable income by timing their investment in capital improvements. Bonus depreciation and first-year expensing under section 179 can both have an immediate impact on the current year’s taxable income.
- The PATH Act extended bonus depreciation on new assets but included a phase-down over a four-year period. The amount remains at 50 percent for 2016 and 2017, but drops to 40 percent in 2018 and 30 percent in 2019.
- Section 179 expensing has been permanently set at $500,000 and an investment limit of up to $2.01 million. Both amounts are indexed for inflation, and are available for assets placed in service up to Dec. 31, leaving about five weeks in the year to make this happen.
- Heavy SUVs and pick-up trucks over 6,000 pounds are still eligible for a $25,000 deduction if purchased before Dec. 31, 2016.
With a new administration coming to power in Washington, the tax situation a year from now may be very different. Changes, whenever they occur, ripple across the entire system. The best idea: Find a tax advisor or accountant in whom you can put your trust, and listen carefully.
Rodefer Moss is a three-state accounting firm with offices in New Albany, Corydon, and Georgetown, Ind., Louisville, Ky., and four offices across Tennessee. The firm’s website is www.rodefermoss.com
Check out the latest installment of our Local Business Spotlight series. This time Jonathan Morones goes to Jeffersonville, Indiana and checks out The Hub Cafe. The Hub prides itself in supporting all local, sustainable, humane sources for their food, and the results show it. So nest time you want something delicious and locally sourced, try The Hub located: 716 E. 10th St. Jeffersonville, IN 47130