Originally Published in the Tahoe Daily Tribune on 03/27/2024, Written by Brenna O’Boyle

INCLINE VILLAGE, Nev. – Are you tired of struggling to stay awake during those dry, jargon-filled civic meetings? Well, get ready to have your perception of government flipped on its head because Kevin Lyons is bringing his side-splitting “pizza and beer” approach to Incline Village tonight.

Brace yourself for an evening of myth-busting laughter that will forever change how you view the inner workings of our leadership.

After toiling away for 30 years, studying the nerdy nuances of governance under the tutelage of Nobel Prize winners and top-brass practitioners, Lyons has emerged with a simple mission: to make learning about government as enjoyable as cracking open a cold one with your buddies.

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Originally Published in the Sierra Sun on 03/28/2024, Written by Zoe Meyer

Five years ago, the decision to merge four local core service organizations – Project MANA, North Tahoe Family Resource Center, Family Resource Center of Truckee, and Tahoe Safe Alliance – was unprecedented and initially met with skepticism. This strategic merger aimed to streamline and enhance service delivery by addressing overlapping services in the community, ultimately resulting in the Sierra Community House (SCH). 

It proved to be a successful endeavor, eliminating confusion, inefficiencies, and retraumatization that individuals faced while navigating multiple services before the merger. By consolidating resources under one roof, SCH made essential services easily accessible in a single location. 

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Submitted by Tia Rancourt of North Lake Tahoe Fire Protection District (NLTFPD)

Thanks to a $1.7 million grant from FEMA’s Assistance to Firefighters Grant program, Carson City, Tahoe Douglas, East Fork, Smith Valley, and North Lake Tahoe Fire Districts all have new, state-of-the-art Scott X3 PRO self-contained breathing apparatus (SCBA).

These SCBAs, essential for protecting firefighters in hazardous environments, were nearing the end of their lifespan. The new Scott X3 PRO models offer the latest safety features, ensuring better protection for our firefighters who risk their lives for our communities.

This grant, administered by the North Lake Tahoe Fire Protection District (NLTFPD), fostered regional cooperation, with all five fire departments now using the same equipment, enabling seamless collaboration, communication, and interoperability during joint operations across county lines.

The North Lake Tahoe Fire Protection District extends its thanks to FEMA and the participating fire departments for their collaboration over the last 17 months in securing and implementing this grant.

“Big thanks go to FEMA and all the participating fire districts for making this vital upgrade possible. Regional cooperation is key, and this project is a shining example of that principle in action,” said NLTFPD Fire Chief Ryan Sommers.

Originally published in the Tahoe Daily Tribune on 03/26/2024, Written by Brenna O’Boyle

In honor of March being Women’s History month, Tahoe Daily Tribune has chosen to spotlight Washoe County Sheriff’s Office, Incline Village Patrol Division, Capt. Amelia Galicia. Here’s what Galicia said about being a female leader, her role models and mentors, and what advice she gives women following in her footsteps.

In your career, what signified success?

As a law enforcement professional and division captain, success can be described in many ways. The accolade of being promoted and becoming a leader within a police agency is often one of the most recognizable measures of success.

Attaining a promotion within my field requires an exceptional understanding of the law and the application of the law, intense preparation, determination, hard work, and putting yourself through a grueling testing process. The testing process is often enough to dissuade potential candidates from attempting. Individuals who step outside their comfort zone and do well achieve success.

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Photo Credit of Tahoe Daily Tribune

Here is the slideshow presentation from Washoe County Manager Eric Brown from the IVCBA Annual Meeting last Wednesday at the Chateau.

Submitted 3/25/2024, Written by Jeremy Krenek, Lakeside Lawyers

If you own a business (corporations, LLCs, etc.) you are now subject to new reporting requirements or you could be subject to substantial monetary fines and/or jail time.

The Financial Crimes Enforcement Network (“FinCEN”), a bureau of the United States Department of Treasury, exchanges information with foreign financial intelligence units around the world in support of U.S. and foreign financial crime investigations.  Put simply, they investigate and prosecute money launderers.  You may be familiar with the form that you have to fill out at the bank if you deposit more than Ten Thousand Dollars ($10,000) cash at a time.  FinCEN has now implemented a new Reporting Rule for companies which became effective January 1, 2024.

The Reporting Rule requires certain entities to file beneficial ownership information (“BOI”) reports to FinCEN.  Reports contain information about the entity itself and two categories of individuals: (1) beneficial owners; and (2) company applicants.  A beneficial owner is an individual who controls at least Twenty-Five Percent (25%) of a company or has substantial control over the company.  A company applicant is an individual who directly files or is primarily responsible for the filing of the document that creates or registers the company.

Starting on January 1, 2024, BOI reports must be filed electronically using FinCEN’s secure filing system.  According to FinCEN, “FinCEN will store BOI reports in a centralized database and only share this information with authorized users for purposes specified by law.  The database will use rigorous information security methods and controls typically used in the Federal government to protect non-classified yet sensitive information systems at the highest security level.”

Deadline to File

Reporting companies created or registered to do business before January 1, 2024, will have until January 1, 2025, to file their initial BOI reports.

Reporting companies created or registered on or after January 1, 2024, and before January 1, 2025, have 90 calendar days after receiving actual or public notice that their company’s creation or registration is effective to file their initial BOI reports.  Specifically, this 90-calendar day deadline runs from the time the company receives actual notice that its creation or registration is effective, or after a secretary of state or similar office provides public notice of its creation or registration, whichever is earlier.

Reporting companies created or registered on or after January 1, 2025, will have 30 calendar days from actual or public notice that the company’s creation or registration is effective to file their initial BOI reports.

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¹ An individual exercises substantial control over a reporting company if the individual meets any of the following criteria: (1) the individual is a senior officer; (2) the individual has authority to appoint or remove certain officers or a majority of directors of the reporting company; (3) the individual is an important decision-maker; or (4) the individual has any other form of substantial control over the reporting company.

² A reporting company is not required to report its company applicants if it is a domestic company reporting a company created before January 1, 2024.

Submitted on 3/25/2024, written By David Vomund

I’m not a CPA, nor do I want to be.  I’m an investment adviser who doesn’t pretend to be a tax expert.  But I do know that many retirees want to save on taxes and also help charities.  Here are two methods:  

Donate Stock – If you own stock with big long-term profits but don’t want to sell and pay the tax then consider donating all or part of the position to a charity.  You’ll avoid a capital gains tax and if you pass that savings along to the charity then they’ll receive more than if you gave them cash.  

Most people don’t itemize deductions.  In fact, about 90 percent of taxpayers take advantage of today’s large standard deduction.  For 2024 the standard deduction is $14,600 for single taxpayers and $29,200 for married taxpayers that file jointly.  A gifted stock is tax deductible, but avoiding the capital gains tax makes this approach worthwhile even if you don’t itemize.  

Qualified Charitable Distributions (QCD) – If you are over the age of 72 and have a traditional IRA, then you are required to take annual distributions.  Those distributions are taxes as ordinary income.  Instead of directly donating to a charity, a better method is a “qualified charitable distribution.”  Under a QCD the account owner instructs the custodian to send the distribution directly from the IRA to the qualified charity.  The donation counts toward the required minimum distribution but isn’t taxed as income.  

Alternatively, you can pay tax on the IRA withdrawals and then write off the charitable donation, but as stated earlier most people don’t itemize.  For most retirees, it’s best to do a QCD and take the standard deduction when filing taxes.  

Qualified Charitable Distributions lower your reported taxable income, which in turn lowers your state taxes.  That’s inconsequential in Nevada but in high tax states like California a QCD will lower state taxes.  

Keep in mind the distribution needs to go to a qualified 501(c)3 charity.  Sorry, it doesn’t work to send money to your beneficiaries.  

It’s too late to donate stock or make a QCD for 2023 but taxes are on peoples’ mind now so plan now and act before year end.  The two methods I’ve highlighted will reduce your tax burden and help your favorite charities.  Best of all, charitable distributions can be made year after year.  Consult a tax professional before making a donation.

David Vomund is an Incline Village-based Independent Investment Advisor.  Information is found at www.VomundInvestments.com or by calling 775-832-8555.  Clients hold the positions mentioned in this article.  Past performance does not guarantee future results.  Consult your financial advisor before purchasing any security.

Originally Published in the Sierra Sun on 03/24/2024, Submitted

LAKE TAHOE, Calif./Nev. – The snow will melt soon in the Lake Tahoe region and winter will give way to a busy spring for area wildlife. Bears that have been wintering in their dens will emerge soon and they will be hungry!

Each fall, black bears go through hyperphagia (pronounced hi·per·fay·jee·uh) which is an increase in feeding activity (consuming about 25,000 calories a day) driven by their need to fatten up before winter. Over the course of the winter, bears’ bodies utilize those fat stores during hibernation when food is scarce. Come spring, their body mass will have naturally decreased and as a result, bears will be on the lookout for easily accessible food sources to help rebuild those fat reserves. Bears will instinctively seek out areas where they can find fresh greens like grasses and forbs which can bring them into neighborhoods.

As bears make their way through human-populated areas, please be vigilant about cleaning up and securing bear attractants. The Tahoe Interagency Bear Team (TIBT) knows that many people choose to feed birds in winter, but please do not let bird feeders attract and feed bears. Now is the time to take those bird feeders down completely. 

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Originally Published on the TRPA Website 03/22/2024, Written by Julie Regan

Lake Tahoe has protectors just about everywhere in this great nation. Last week, TRPA representatives joined a coalition of Lake Tahoe supporters in Washington D.C. to urge the extension of a key piece of legislation that has been pivotal in Lake Tahoe’s preservation. The Lake Tahoe Restoration Act is set to expire in September of this year, putting a major source of federal funding at risk.

Nevada and California local elected officials, tribal leaders, TRPA board members, and public and private organizations gathered for meetings with members of Congress and the Biden Administration to stress the urgency of continuing to protect Lake Tahoe. “Team Tahoe” succeeded in drawing national attention to our numerous challenges, from historical environmental impacts to emerging threats posed by climate change. The call to protect Lake Tahoe has echoed from these mountainsides, throughout Nevada and California, and across America to bring attention to one of the country’s most treasured landscapes.

Lake Tahoe suffered severe environmental damage before strict protections were enacted under the first Lake Tahoe Regional Plan. In 1997, the Tahoe Regional Planning Agency (TRPA) joined many public and private partners to launch the Environmental Improvement Program, or EIP. Under the initiative, more than 800 projects have been completed thus far to protect water quality, reduce the threat of wildfire, combat aquatic invasive species, improve transportation and trails, support science and research, and much more.

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Photo credit of TRPA