Shortly after ten Rotarians and two guests sat down to a lunch of pork cutlet, spaghetti, salad and cookies, Karl rose to announce that he had received a donation of $750 from the purchase of a sculpture. Lloyd Hutchins commissioned Linda Kiniry to decorate a 32 Ford Coupe for $1000. She kept 25% and he donated the rest to the Club. He also passed around the Basketball Tournament sign up sheet. He then asked President Tony to pass the gavel and proposed a fine of one-and-nine on him for not standing when responding to a member trying to garner his attention. Fine passed.
Eddie gave a Happy Dollar in celebration of his daughter’s 19th birthday.
A Constitutional Moment
President Tony called on Caroline to provide us with a Constitutional Moment. The focus of today’s lesson was on the Seventh Amendment. “In all criminal prosecutions, the accused shall enjoy the right to a speedy and public trial, by an impartial jury of the State and district wherein the crime shall have been committed;...” She also spoke briefly about the Tenth Amendment: “The power not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.”
Dollars and Songs
Next to rise was Bob and he gave a Happy Dollar remembering a photo or video of Justice Breyer holding the Constitution Booklet. Caroline gave another for gaining a better understanding of how the state government works regarding guardianship. President Tony threw one in the basket because his family is coming for a visit.
Arthur Zorn took to the keyboard to accompany us as Joe led us in song. Don’t remember the songs as I was too busy singing them.
John, via Zoom, proposed a fine of one-and-nine on Joe for being too loud during the singing. Joe, via Zoom, tried to defend himself by claiming no was singing so he had to be heard and provide support to others. He must have been persuasive because the fine didn’t pass.
Tax Law Changes and Related Items
Tom introduced his business partner of thirty years, Thom Lauzon CPA and today’s speaker.
Thom is the senior shareholder in the accounting firm of Salvador and Babic. He has assisted the Scott administration with handling of the Paycheck Protection Program (PPP) for businesses, is the past mayor of Barre City and is a property developer.
Thom started off with two pieces of advice: 1) make sure that you get answers to your questions regarding tax matters from a professional; and 2) file electronically which is much faster than mailing the form. He also told us how important it is to be accurate; even small mistakes on tax forms will result in your return being rejected, causing a major delay in receiving any refund. He then went on to highlight changes that have been made and how these changes affect how you declare certain items on tax forms. The major areas that he covered were child care credit, child credit, the Covid-19 stimulus, IRA minimum distribution, earned income credit, student loan debt, the mileage deduction, the business lunch and dinner deduction and Vermont taxes. With the plethora of changes, it would be a good idea to take his initial piece of advice and seek professional help. After answering a few questions, Thom was thanked by Tom and President Tony and received a warm round of applause for an interesting and timely presentation.