SPRINGTIME SPECTACLE
Get ready for a thrilling show. On April 8, a total solar eclipse will cross North America, passing over the United States, Canada and Mexico. It’s a rare event, where the shadow of the moon will plunge a narrow strip of land into darkness in the middle of the day. This eclipse will be unusually accessible, in that millions of people will be able to witness the amazing phenomenon.
Solar eclipses are rare in part because they can only occur during a new moon and when “the moon’s orbit is tilted five degrees to Earth’s orbit around the Sun,” according to the National Weather Service.
If you miss this show, you’ll have to wait more than two decades for the next visible total solar eclipse to cross over the U.S. That won’t happen until August 23, 2044.
So come celebrate this solar eclipse with us. We’ll have a food truck and will be handing out solar eclipse glasses. The eclipse begins at 1:49 p.m. and ends at 4:22 p.m. The maximum viewing time will be at 3:07 p.m. We look forward to seeing you there!
AXIOM NEWS
LLC Filing Information Changes
In our February newsletter, we told you about LLCs, corporations and other entities being required to file beneficial ownership information reports with the U.S. government. Recently, there has been some legislation on this issue, which has postponed the filing requirements. On Friday March 1, 2024, the U.S. District Court for the District of Alabama declared the Corporate Transparency Act (CTA) unconstitutional.
In the case of National Small Business Association v. Yellen (Case No. 5:22-cv-01448) [1], initiated by the National Small Business United, the challenge was against the CTA’s mandate for small businesses to disclose their beneficial owners to the Financial Crimes Enforcement Network (FinCEN).
The ruling has the effect of suspending all BOI filing requirements for now, all enforcement actions, and all compliance concerns, including questions of “practicing law without a license.” Experts believe the ruling will be appealed, probably to the Supreme Court, so this is a temporary filing requirement suspension until a final appeal is exhausted. Voluntary filing appears to still be allowed.
529 Contributions Update
For tax years 2022 and prior, 529 Indiana College Choice Plan contributions were required to be made/traded before December 31 for Indiana tax credit eligibility. For tax years 2023 and after, the contributions for a prior year are allowed to be made after year end and before the tax return due date (April 15) and may still be eligible for credit.
This allows additional time to elect contributions made between now and the tax filing deadline for 2023; the earmarked 2023 contributions made in 2024 may also be eligible for 2023 Indiana tax credit. We encourage you to reach out to your tax professional on the eligibility and application of this recent change and how it may benefit you.
Celebrating Pearls of Wisdom
One Southern Indiana kicked off its 2024 Pearls of Wisdom series last month. The keynote speaker was Dr. Treva Hodges, Mayor of the City of Charlestown, IN. Dr. Hodges began her career as a business analyst for a major mortgage banking company before transitioning to higher education, gaining over a decade of teaching and administrative experience. She’s served in a variety of educational and community youth mentor programs that connect economically and socially marginalized students with resources to improve academic performance and foster interest in higher education.
News You Can Use
Watch What You Say
There’s an expression: “It’s not what you say that counts. It’s what you don’t say.” That may be true in some instances. However, the language you use at work can make a big difference in your relationships with your coworkers or boss. Just the simplest, shortest responses can often be the most meaningful. Go here for a quick read on two phrases you can use to be a more successful manager or employee.
Teaching Your Child About Money
Understanding how to manage money is a lifelong process and a learning curve that can begin when your child is quite young. Starting with simple concepts and building on those as your child grows can help prepare them for money concerns that will undoubtedly arise during their lifetime. The more they know and understand, the less stress money issues will cause. For some tips on how to teach your children about money and finances, click here.
APRIL FUN
Thunder Over Louisville
Thunder Over Louisville continues to deliver spectacular pyrotechnics like no other. Created as the Opening Ceremonies of the Kentucky Derby Festival, it offers an explosive kick-off to two weeks of celebration in Louisville and Southern Indiana. The event is the largest annual pyrotechnics display in North America and hosts one of the Nation’s best Air Shows. April 20. Waterfront Park from 3 p.m. to 11 p.m. Get all the details here.
Earth Day 2024
Celebrate Earth Day at Waterfront Botanical Gardens with a morning conversation about how you can prevent and reduce food waste. Register for this special presentation by Karen Maynard, Department of Public Works. Free with suggested donation of $5. Coffee, tea and light bites provided. Monday, April 22 from 9 a.m. to 10 a.m. It’s a beautiful place to learn about this important day. 1435 Frankfort Avenue. Click here for more information.
Wild Lights at the Zoo
The popular lantern festival is back and brighter than ever! Celebrate the vibrant colors of the coral reefs, see nature come to life with interactive displays, explore ancient Chinese legends and a breathtaking phoenix tunnel along a 1.4-mile pathway. Wild Lights will be held 7 p.m. to 10 p.m. Thursday through Sunday nights until May 19. Go here for more info.