BEARCPA

2 hours ago, Mr. Buddy Garrity said:

I have the app on my phone and tablet but never use it. Do they have an actual channel on Spectrum?? 

The Victory+ app is available to download on Samsung tvs (mine is a couple years old). I wouldn't be able to watch Dallas Stars games otherwise. Its great. They also carry Rangers baseball games and a few other sports as well. 

Several LCM baseball alumni will be coaching for a state title this weekend. From KOGT:

The State Baseball Tournament begins June 5 and runs through June 7. Congratulations to those that made it. Especially LCM alum Chris Buechner, the head coach at Kingwood Park, Kyle Adams, assistant coach at Kingwood, and Smithson Valley asst. coach Rylan Breaux.

I’m a Texas fan, but this made me chuckle. Poor showing from the Horns this weekend after struggling down the stretch in the regular season. 

13 minutes ago, OlDawg said:

Smaller charities may be helped by the reinstatement of the $300/$150 top line charitable deduction. Not sure how much since--as I understand it--most people actually file simple nowadays. I give a recurring monthly donation to the Michael J. Fox Foundation. I don't claim any of it. Many of us give because of the cause without seeking a tax benefit. Hopefully, this will continue.

Yeah I'm glad they brought that deduction back, just wish it was higher than $300/$150. Same with the $300 educator expense adjustment. Most teachers pay significantly more than that to outfit their classrooms. Oh well, beggars can't be choosers. 

13 hours ago, OlDawg said:

So, you go from 1.39 to ? You need to have a sizable investment portfolio for this to really hit your nonprofit. We’re talking in the millions to billions range. I haven’t read the numbers. But, if you say triple, that’s still only about 5% tax on investment income. As a nonprofit private foundation charity, how much investment income is needed? Is there a need to sit on that much cash? I thought the purpose of a charity was to provide support by giving? Not make income. I understand operating costs as I started and ran a nonprofit for years. But, my goodness.

Will need to apportion out more carefully. That’s if this even stays in the final Bill.

Note:

After reading the proposed changes, a private nonprofit will still pay 1.39% on investments up to $50 Million. That’s a sizable investment portfolio.

Not sure you’re gonna get much sympathy from Joe/Jane Smith who will have their taxes go up a much higher pct. when they’re barely getting by and you crying about paying—at most—10% on BILLIONS of investment income when you’re a tax advantaged nonprofit charity. That’s still less than the 12% most middle income folks pay, and most will never see a million in their lifetimes. But, many still probably give to charities.

There may be many things not to like about this proposal. I haven’t read it all yet. But, I’m not sure this one is a biggie to the majority.

This one strikes me as tone deaf…

No one is crying, I just wanted to provide context that most people probably didn't know about. As you laid out, my organization should be fine. Our investment income is how we subsidized almost $20 million in direct charitable expenditures last year. We need that safety net, with minimal revenue sources outside of investments. I'm more concerned with the smaller nonprofits could feel a tighter squeeze if this bill is passed.

15 hours ago, thetragichippy said:

Where is that addressed in the bill? I have not heard that criticism. 

From a CPA firm in Houston that specializes in nonprofit and government work.

I normally steer clear from this board, but I figured I'd add some context for this bill since there's a good chance it could directly affect my job.

I work in the nonprofit world. I know no one on here cares about those organizations near as much as they do about medicaid, but the OBBB could be detrimental (in a variety of ways) for a lot of nonprofits that do wonderful work in our communities. For example, the excise taxes my organization pays on investment income will more than triple if this bill passes in the Senate. A lot of nonprofits won't be able to foot those types of tax hikes and maintain adequate funding to carry on their mission.

*gets off soapbox*

On 4/29/2025 at 2:13 PM, 2wedge said:

There's one thing that's been toppling great leaders for many years. This particular thing is undefeated in that regard.....

dipping his pen in the company ink?

4 hours ago, SmashMouth said:

Still a cub!

I'm an old fart at heart though 

Shoutout to the April babies - I turned 35 earlier this month.

Odd venue scheduling for the LCM/Center series.

Silsbee ISD needs to re-name the gym or the court in his honor.

Arceneaux is leaving Houston 

Teddy strikes again smh 

4 straight turnovers for UH in the final 90 seconds 

Probably the first time in my life where I picked both title game participants correctly in my bracket. Go Coogs!

I got 10 Sweet 16 picks correct, while my wife (who watches zero college basketball before March) got 12 picks correct of course. 

13 minutes ago, Mr. Buddy Garrity said:

Clayton is taking over this game. 

Him and Will Richard were huge in the 2nd half 

1 hour ago, Mr. Buddy Garrity said:

The lack of real upsets is a head scratcher, hopefully that changes soon. 

Yeah a little boring so far, but minimal early round upsets means the best teams/players will play each other in the later rounds though. 

1 hour ago, AggiesAreWe said:

For my sake, let's hope so.

I have Louisville advancing in 4 of my 5 brackets.

I had them in the Sweet 16 smh

19 minutes ago, navydawg31 said:

I knew he was going somewhere… just didn’t know where… but wouldn’t be surprised if he decides to go elsewhere last second… 

Yeah I think the openings at Villanova and West Virginia are better jobs than NC State. He'll always be third fiddle to Duke and UNC there.

Crosby's PJ Haggerty named 2nd team All American by the AP.

would be a great game if the refs didn't blow their whistles every 10 seconds