Network Magazine | Issue 34 | Spring 2024

At Pickleball Lehigh Valley, located at St. Luke’s SportsPlex, we provide beginner pickleball enthusiasts and experienced pickleball athletes with a fun and welcoming environment to learn, play and enjoy pickleball at our 45+ court, state-of-the-art pickleball complex.

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We are pleased to announce the formation of our new firm serving the Lehigh Valley area in civil, criminal and family law.

We bring over 60 years of legal experience for the benefit of our clients.

The partners of NETWORK MAGAZINE™ proudly present the latest edition of the Lehigh Valley's first ever, high end, business leader driven B2B magazine. Our goal is to continually present our readers relevant content to build your organization, from the region's top business leaders and experts on today’s industry news and trends.

Our leading contributors will continue to change quarterly, sharing information that stays fresh and current. The opinions, tips, and insights on how to best navigate business pitfalls are all provided by the Lehigh Valley's best thought leaders. Our writers are un-censored giving you profound insight from their years of experience from their given field of expertise.

To learn more about how you can become a part of NETWORK MAGAZINE™ as a Contributor or an Advertiser, please contact Ray Bridgeman: ray@mynetworkmag.com

Protecting Your Fur Babies Through Estate Planning

E. IORIO, FITZPATRICK LENTZ & BUBBA, P.C.

Statistically, U.S. birth and marriage rates are declining, while pet adoptions are on the rise. Pet lovers, especially millennials, are known to treat and view their "fur babies" as children, developing deep, loving bonds. It's devastating to think about a pet becoming ill and needing care, but what about an owner becoming ill, incapacitated, or dying - in the absence of surviving immediate family, who will care for your pet? Use common estate planning documents to find peace of mind regarding your pet's care and ongoing well-being.

Pet Trusts

Five years ago, fashion icon Karl Lagerfeld passed away, leaving behind his beloved cat Choupette. To help provide care and a continued lavish lifestyle for his feline friend, he created a Pet Trust –and funded it with nearly $200 million in assets. This estate planning strategy was used in Germany and can also be used in many U.S. states, including Pennsylvania and New Jersey, but is this the best way to protect a pet?

Common challenges of creating a Pet Trust include:

• Administrative burden - Trusts are often complex and need to identify trustees who must handle a myriad of filing and investing responsibilities, notably annual tax returns and distribution of funds upon the animal’s death to the remainder beneficiaries.

• Administrative fees - fees encountered during administration may not make a modest Pet Trust cost-effective (not all of us can be Karl!).

• Taxes - A pet Trust is not charitable in nature. It is subject to both income and inheritance taxes (the highest inheritance rate is assessed by both P.A. and N.J.).

Wealthy individuals may find comfort in a Pet Trust, but average individuals should consider a more cost-effective (and just as effective) option.

Covering your pet in your Will

While most people consider their pets family members, in the eyes of the law, pets are considered property. Addressing your pet’s care in your Will is a prudent way to ensure they have what they need when you are gone.

Your Will should address the following when it comes to your pet:

• Caretaker - similar to guardianship for minor children, you want to consider who will care for your pet. Would this person want your pet and provide the level of love and care you wish for and expect? Consider naming a responsible person as a caretaker, and make sure they are willing and able to act.

• Provision of funds - pets cannot inherit money or property, so ensure your pet's caretaker receives the money needed to pay for expected medical needs, annual veterinary visits, food, and more. A recent study showed that the annual costs of dog ownership can vary from $1,270 to $2,803; money can be stewarded to cover these expenses by naming your caretaker as a beneficiary.

• Wishes - while not a legally binding document, a letter of instruction can be prepared to let your caretaker know about your pet's routine, favorite places to walk, or people you wish to have in the pet's life, like a dog sitter or family friend.

Honoring your pet and others

Perhaps you adopted your dog from a local shelter or received excellent medical care at your veterinarian during a health scare, and you want to honor these organizations upon your death.

Use your estate plan - your Will, Trust, or beneficiary designationsto bequeath funds to your chosen pet charities. Just like identifying the caretaker for your pet and designating funds for your pet's care, you can designate a dollar amount or percentage of your estate for worthy charitable purposes. If done properly, a gift to a qualified charity will be exempt from estate and inheritance taxes.

An experienced estate planning attorney and/or financial advisor can determine if this option makes sense for you.

Peace of mind with pets

Providing for pets in one's estate plan is a worthy goal. While you probably worry about your pet while you're away at work or on vacation, and when your furry friend is not feeling well, you can find peace of mind knowing they're protected and provided for. Use wellstructured estate planning documents to ensure your beloved animal can have the love and care you desire for them and a paws-itively comfortable life.

PETER

Legal Solutions That Grow Your Business

How The Hot Rental Market Can Impact Your Divorce Settlement.

KELLIE RAHL-HEFFNER, ESQUIRE, GROSS MCGINLEY, LLP

I am sure I am not the only person who sees article after article about the current housing market and how that, in turn, is triggering significant increases in rent prices. You may think that as a matrimonial attorney, the rental market is one area that is not particularly germane to divorce proceedings, and frankly, for the last twenty-odd years, that has been largely true. That premise may be on the cusp of changing in the Lehigh Valley as we see skyrocketing increases in rent.

I just read an article in February of 2024 that stated that while Pennsylvania's overall rent is declining, the rent in Lehigh Valley is still on the rise. Why does this matter in a divorce where the parties own their home? To understand why I see a change on the horizon, at least in this current market, you must first understand a few basics of divorce and equitable distribution.

When parties file for divorce in Pennsylvania, and they have assets, they will proceed with a process called equitable distribution. The name really speaks for itself. The parties, either through counsel or before the Master in Divorce, will equitably divide their real and personal property. Many factors are considered when determining how to divide property, inter alia, length of marriage, age, health, and sources of income for the parties. The entire list of factors can be found at 23 Pa.C.S.A. §3502.

Pursuant to 23 Pa.C.S.A. §3502(7) the Court will look to, “ the contribution or dissipation of each party in the acquisition, preservation, depreciation or appreciation of the marital property, including the contribution of a party as homemaker.”

In a majority of divorces, the largest assets to be divided are the marital residence and retirement accounts. Per the above, the Court will consider the contribution of a party to a marital asset like the marital residence.

Now that we know that property will need to be equitably divided and contributions to a marital asset will be considered, why do I remain concerned about the rental market?

During the process of a divorce, which can take from several months to years, if the parties do not reside together in the marital residence or sell the home, it is very likely the case that one party will reside in the home, and one will move out pending equitable distribution. That means while there is no decision yet as to who keeps the home or how much equity each party may keep, one party continues to live in the home and pay the bills related to the home, including the mortgage.

Case law has long established that the parties to a divorce have an equal one-half interest in the marital property, and "thus the dispossessed party will be entitled to a credit for one-half of the fair rental value of the marital home.” See Lee v. Lee, 379 A.2d 380 (2009). Basically, if the party residing in the home was not there, the dispossessed party could rent the home for value.

There are four prongs the Court will consider when deciding whether to award a rental credit:

1. The general rule is that the dispossessed party is entitled to a credit for the fair rental value of the jointly held marital property against the party in possession of that property, provided that there are no equitable defenses to the credit.

2. The rental credit is based upon and therefore limited by, the extent of the dispossessed party's interest in the property.

3. The rental value is limited to the period of time during which a party is dispossessed and the other party is in actual or constructive possession of the property.

4. The party in possession is entitled to a credit against the rental value for payments made to maintain the property on behalf of the dispossessed spouse. See Lee v. Lee, 379 A.2d 380 (2009).

While all of this has been and remains true, in practice, fair rental credits are rarely, if ever, paid. That is because the fair rental credit is typically offset by the amount the party in possession is paying on the mortgage. Equity then dictates neither party receives a credit due to this offset.

Now add to this equation an overinflated rental market. It is not hard to imagine a scenario where the party in possession is paying $1,500/mo. on the mortgage, while remaining in the home, but the fair rental value is $2,800/mo. That would not create the typical offset situation and could, in fact, lead to a situation where the party in possession will owe a credit to the party who is dispossessed and could be earning more money if the home was rented. Of course, to show this, the dispossessed party would require a market analysis and appraisal determining what the market would bear for rent, but given this current rental market, this is not an impossible feat.

Perhaps now, when reading news articles about the cost of rental units, you will join the matrimonial attorneys in thinking about how this will play out in your neighbors’ divorce….but likely not.

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The Boggled Border and the Immigration “Problem”

RAYMOND G. LAHOUD, ESQ. MEMBER, NORRIS MCLAUGHLIN, P.A. CHAIR, IMMIGRATION PRACTICE GROUP

For decades, immigration law has been a political toy that leaders use as a continuing campaign issue. These leaders will tell voters (before election day) that they will be champions in solving what is commonly referred to today as the immigration “problem.” One side of the aisle promises a level of amnesty, while the other side advocates for a limited immigration system. Some want to build a wall. Others want a wide-open border without restrictions on entry. There are those who want to deport every undocumented person in the United States, while others call for an extensive amnesty program to legalize all undocumented individuals in the United States. Congress, however, always stalls any immigration reform bill that it considers.

Given this, the immigration "problem" is left to the executive – the President. As the last eight years have proven, different presidents have opposite approaches and, using executive orders, have implemented significant immigration restrictions, or lack thereof, absent the consent of or legislation from the United States Congress. Why? Well, it seems that Congress does not like to legislate.

Immigration Numbers

From 2008 through 2019, the United States government has, year after year, reported that at any given time, there were approximately 11.5 million undocumented immigrants in the United States. This number, however, has long been fictional. There are many, many more.

In 2018, a joint study of Yale University School of Management and the Massachusetts Institute of Technology found that “the actual population of undocumented immigrants residing in the country is much larger than that, perhaps twice as high, and has been underestimated for decades.” The study analyzed a twenty-five-year period using mathematical modeling on a range of demographic and immigration operations data and concluded that:

The results of [the] analysis [is] clear: The number of undocumented immigrants in the United States is estimated to be substantially larger than has been appreciated, at least in widely accepted previous estimates. Even an estimate based

on what [is] view[ed] as conservative assumptions, in some cases unrealistically so, generates an estimate of 16.7 million, well above the conventional estimate of 11.3 million. The mean of [the] simulations, which range over more standard but still conservative parameter values, is 22.1 million, essentially twice the [then] current widely accepted estimate.

While former President Donald J. Trump cut back on border crossings, there remained a net positive each year of his presidency when comparing the number of undocumented immigrants deported from the United States to those who unlawfully entered or remained in the United States.

Since then, the number of undocumented immigrants in the United States has significantly increased because of the lax border, prosecutorial discretion, and asylum policies that took effect upon the inauguration of President Joseph Biden.

According to United States Customs and Border Protection (“CBP”), nearly 9 million individuals approached CBP agents at the southern border and were permitted to enter the United States. Another 500,000 individuals did the same at the United States border with Canada. Besides the 9.5 million entries, CBP estimates that over 2.5 million “gotaways” entered the United States without detection. When combined with individuals who lawfully entered the United States with temporary visas but failed to depart when expected, the estimated increase in undocumented immigrants in the United States in the last three years is well over twelve million, conservatively.

With the Biden Administration’s immigrant influx, today, the United States, quite possibly, is over 33.1 million – nearly a tenth of the current population.

These numbers are estimates. No one is certain of the actual number, given the lack of participation in the annual census by undocumented immigrants, as well as their successful ability to remain undetected. Regardless of the actual number, the fact is that it is larger than ever before and is proliferating with each passing day.

Trump v. Biden

The Trump and Biden immigration policies are complete opposites. President Trump focused on limiting undocumented immigrants from entering and/or remaining in the United States. His administration increased scrutiny of visa applicants abroad, implemented out-of-country asylum processing, such as Remain-in-Mexico, increased thresholds for asylum seekers, enforced deportation orders, conducted visa overstay arrests, refused to exercise prosecutorial discretion in enforcing immigration laws, and authorized federal agents to take any action necessary to stop the unlawful flow of individuals across both the northern and southern borders of the United States and to remove those already in the United States.

President Biden’s approach has been quite different, recognizing that individuals are often escaping their home countries because of violence, persecution, criminal gangs, and devastating country conditions and that the United States must serve as a haven for those in despair, regardless of country of origin. The Biden Administration has embraced the words that have long been on the pedestal of the Statute of Liberty: “Give me your tired, your poor, your huddled masses yearning to breathe free, the wretched refuse of your teeming shore. Send these, the homeless, tempest-tost to me, I lift my lamp beside the golden door!”

The Biden Administration removed much of the scrutiny of visa applicants abroad, reduced burdens and thresholds for asylum seekers, limited enforcement of deportation orders, and encouraged immigration agents, judges, and prosecutors to exercise discretion favorable to undocumented immigrants when enforcing federal immigration laws. Unfortunately, some of these policies have had unintended consequences: a massive influx of immigrants at both United States borders who are seeking asylum, lackluster enforcement of undocumented immigrants convicted of certain crimes, increases in fraudulent asylum claims that are presented to gain entry into the United States, massive immigration court backlogs, increases in visa overstays, and more.

These competing approaches will never change as immigration, given that the immigration “problem” will forever remain the most hotly debated issue in the United States, absent necessary legislative action.

What to Do?

The solution, quite frankly, is comprehensive immigration reform that starts with members of Congress. However, this task has not been undertaken for nearly forty years. Most fear taking on immigration reform because of either their constituencies or because the immigration “problem” serves as an excellent reelection talking point to many.

Any immigration reform necessitates an understanding that the immigration system that led to tens of millions of

undocumented immigrants living in the United States today must change before one can consider any form of amnesty or protection from deportation.

First and critical to comprehensive immigration reform is a recognition that some—not all—in the United States without lawful status must be removed from the United States. There is no denying that there are present among us undocumented immigrants who have criminal convictions ranging from driving under the influence, retail theft, drug possession, and domestic violence up to drug trafficking and murder. They must be removed from the United States if a federal immigration court denies relief from deportation.

Second, comprehensive immigration reform necessitates securing America’s borders and preventing visa overstays with immigration enforcement actions. Full Stop. A country is not a country absent protected borders. Together with this is the fact that many undocumented immigrants in the United States seek employment only, and many United States employers are willing to ignore federal immigration laws to employ undocumented immigrants without any accountability. If employers are willing to employ undocumented immigrants, there will be undocumented immigrants ready to take on employment.

While many do not favor mandating E-Verify for all employers across the United States, this may be the only solution to the root of the immigration “problem.” E-Verify, authorized by the Illegal Immigration Reform and Immigrant Responsibility Act of 1996 (IIRIRA), is a web-based system through which employers electronically confirm the employment eligibility of employees. Using this system, employers enter certain information on each employee. E-Verify then electronically compares that information to records available to the United States Department of Homeland Security (DHS) and the Social Security Administration (SSA). A few seconds later, the E-Verify system either confirms the employee’s employment eligibility, indicates that the employee needs to take further action and cannot yet be hired, or informs the employer that there is no match and, therefore, the employee is not eligible to work in the United States. While drastic, mandating E-Verify across the United States would serve to limit what many consider to be the root cause of the high number of undocumented immigrants in the United States – the desire to work with employers willing to employ, regardless of immigration status.

Third, there must be a recognition that most—not all—in the United States without lawful status are permitted the opportunity to remain in the United States. Tough to determine, is what immigration status should be given to these individuals. Some will argue it should be limited to basic protection from deportation (with removal proceedings if certain conditions later arise) and nothing more. In contrast, others contend that lawful permanent resident status with the ability to become naturalized United States

citizens is necessary. It is important to remember that many undocumented immigrants have been in the United States for decades, pay significant taxes, take on gainful employment by employers willing to ignore federal immigration laws, care for their families, lead law-abiding lives (other than their unlawful entry into the United States), and work in industries that many Americans fear joining.

Fourth, the United States is a beacon of hope for many across the world who are suffering persecution on account of race, gender, nationality, ethnicity, sexual identity, gender, religion, and more. To refuse to aid some is un-American. To keep an open-border policy is also un-American. A middle ground is establishing asylum processing centers at certain locations along the northern and southern borders of the United States that allow for prompt adjudication of requests for protection in the United States. Moreover, expanding and streamlining the refugee resettlement program will prove crucial to handling global requests for protection in the United States. This program allows individuals worldwide to seek refugee protection in the United States while living in other countries. The process, as it stands, is complex and takes decades.

The implementation of extensive vetting and background review policies is critical to both the border asylum process and the refugee resettlement program. Today, CBP utilizes a simple FBI record check that reports incidents occurring only in the United States. It is obvious that any FBI record check will provide clean results as the immigrants seeking entry into

Finally, comprehensive immigration reform requires an overhaul of the legal immigration process for families, workers, and employers. Immigrants are an important part of the United States today and tomorrow. Employers need employees—whether temporary or permanent. Spouses and minor children of United States citizens and lawful permanent residents must be able to enter the United States without years of delays and bureaucratic hiccups. These points are without dispute. American employers need more avenues to sponsor individuals living abroad to enter the United States to assume roles in various industries and jobs of all types without the extensive processing and limitations of today while ensuring that proper vetting takes place before entry into the United States.

Conclusion

The United States must act on immigration now. Without comprehensive immigration reform, in whatever form, the United States will be subject to the whims of each new President and his or her executive powers. Reform must be real, and all sides must be considered to reach a middle ground. This reform starts with Congress. Unfortunately, it does not appear that Congress will ever act on comprehensive immigration reform, as the United States is a country divided on this question. And so, the immigration "problem" remains.

Growing Concerns with Artificial Intelligence:

What Businesses Need to Know

TAISHA K. TOLLIVER DURAN, ESQ. BUSINESS ATTORNEY, KingSpry LAW

Regardless of its advantages and concerns, AI is here to stay, especially in the business world. While many companies have found great benefits from the implementation of AI in their business operations, the risks of doing so cannot go unnoticed. Businesses should consider prevention and mitigation practices to avoid troubles with AI usage.

What is Artificial Intelligence?

AI is the simulation of human intelligence by machines, most often computer systems. There is also a branch of AI known as Machine Learning, which focuses on the use of data and algorithms to imitate the way humans learn.

Managing & Controlling AI Systems

Businesses that have or are considering the use of AI tools in their professional spaces must consider the complexities of managing and controlling their knowledge infrastructure or source(s) of information. Businesses need to identify precisely where an AI tool obtains its information before utilizing it for business-related purposes.

Some AI tools, such as Chat-GPT, utilize the internet as their knowledge infrastructure. Although they can filter vast amounts of information in seconds, there are concerns regarding the reliability and relevancy of the output. Moreover, businesses must ensure that proprietary

information is not released to users outside of the company by their AI tool(s).

Ethical Consideration

Ethical concerns regarding AI usage involve bias, privacy, and confidentiality.

AI Bias: AI biases develop over time as the tools’ algorithm produces results reflective of human biases. Eliminating biases in AI tools has proven to be difficult because they have the tendency to remain embedded. For this reason, businesses must have control over their AI tools' knowledge infrastructure so that their data can be trained to eliminate biases.

Privacy Concerns: Unfortunately for businesses, some AI tools do not have the ability to “unlearn” information. If sensitive information is pasted into an AI tool, it may become accessible to other users within or outside of the company. This raises significant privacy and confidentiality concerns that cannot be overlooked.

Best Practices: A rule of thumb for businesses is to never release sensitive information to an AI tool if there is a question as to whether it is appropriate to do so. Healthy skepticism should always follow the utilization of AI tools, especially when business and client privacy is concerned.

Legal Risks & Liability

Businesses subject to data protection regulations, such as the Health Insurance Portability and Accountability Act (HIPAA), must practice caution when utilizing AI tools. The failure to safeguard information may have significant financial and/or legal implications.

Businesses must also consider whether their AI algorithms are biased when using AI tools for critical business operations, such as hiring. If your company's AI tool has a bias against a particular group, your business may be exposed to potential claims of discrimination.

Business Responsibility

Businesses that utilize AI tools in operations must remain accountable for such use. To protect not only the company, but employees, business partners, and clients, businesses must establish clear AI compliance policies and processes.

On a Positive Note,

While the rise of AI presents daunting concerns, it also has a profoundly positive impact on the world of business. Businesses have transformed as AI tools are implemented into their routine operations. Some businesses utilize AI to automate tasks, such as data entry and customer service, which cuts costs and allows employees to focus on other responsibilities.

At KingSpry, we believe businesses should embrace technological advances in their operations in a legally sound manner. Our Business Law Group understands that in the business world, efficiency is everything. Our highly experienced team of business law attorneys works with companies of all sizes to find practical solutions to the challenges they face every day. If you're interested in exploring our business law services or have questions about using AI, contact us at (610) 332-0390 or contact@kingspry. com.

Toilet Paper and The Real Estate Market; a trip down Memory Lane

Senior Loan Officer, Mortgage America

I remember a cold winter day. Generations past help generations present.

I remember snow on the ground. The air is crisp outside. I run to the front door. The less reliable parts of my memory provide that I might be 5 years old.

My mind sees much more clearly and colorfully everything else. Standing at the bottom half of the storm door it’s hard to see out of the glass that has almost completely fogged from the temperature difference thanks to the warmth of the small landing at the bottom of the first set of steps in my parent’s bilevel.

Putting my hands on the car window have gotten me in trouble in the past. I summon the courage to wipe the fog from in front of me revealing the front sidewalk that in a cruel way bends quickly 90 degrees out of view while the white birch tree in the yard intentionally blocks the line of sight to the street above.

I’m waiting for my grandparents. Mom said she saw their car but I can’t see far enough or wide enough. Thankfully my mom was right. A few seconds after wiping away the fog the eternal wait was over… here they come!

My grandfather with a case of Coca Cola. Brightly colored cans assorted in their plastic ringlets snugly fit into that cardboard box lid they turn upside down; I am gonna do SO much with that cardboard!

My grandmother with 2 huge plastic-wrapped bundles of toilet paper. One in each arm. “LaneCo [grocery store] had the good stuff!”, they exclaimed as my mom opened the storm door for them.

They always brought toilet paper. Crazy amounts of toilet paper that would fall from the top shelf when you opened the door of the hallway closet. As I got older, I learned that my grandparents had grown up in a time where toilet paper was not in abundance; hard to get.

So…. when they could get their hands on it; they did. What I didn’t know as I refilled the closet time and time again is that our young family needed the help.

My teenage years offer the first recollection of my grandparents in need at which time my father said, “They were there to help us and now it’s our turn to help them.”

Most of the time our memories can be short. Important details got overlooked and we are on to the next; much like the 5-second video crafted to hold our attention. It is our long-term memory that provides perspective. That perspective often shows that while things change; they also remain the same.

Since the dawn of time concepts tried-and-true have been passed down. We might call that ‘the benefit of hindsight’. Sometimes those generations are not present to remind us of exactly what they did to get by or prove to us that eventually toilet paper will arrive when we need it. These are times we must encourage ourselves to believe and obtain for on our own; just as they had to.

Here’s the proof.

The real estate market has always changed. No good stretch lasts indefinitely. No rough stretch lasts indefinitely. Sometimes the seller has the advantage. Sometimes the buyer has the advantage. Interest rates change. Rules and regulations change. People’s finances change. The value of real estate changes.

It is fair to say that among all facets the only constant in the real estate market is that it does not remain the same. The finer point is that real estate over time does not go backward further from whence it came. Not in any cycle.

A prominent attorney storied this February, “My wife and I bought our first home in 1988 for $165000 selling it later in 1999 for just $167000. I noticed just the other day it was listed for $448000.” Compare that to the counselor I was fortunate to meet in December of last year. He works for the County prison. He stated, “We bought our home for $270000 about 10 years ago, “but now we are ok; it’s worth over $350000.”

Here is what we don’t know.

The attorney ALSO reminisced, "We were just starting out. Nothing was certain, so our parents actually agreed to pay for our groceries for the first year as long as we were able to make the mortgage payment. We were grateful that 11 years gave us time to build equity giving us the funds to buy our next home.”

The counselor CLARIFIED that, in the moment, he and his wife felt that they’d terribly overpaid for their home at that $270000 price point.

Since 1980 for

They found the courage.

In the long term no generation in any walk of life is faced with a different set of challenges than those that came before, nor will any thereafter. Rather, it’s how things manifest in the short term that changes with the times.

Buyers have always needed to accumulate money to purchase and have always needed to afford the monthly payment. The buyer often received help in order to pay those costs. Real estate values, over time, rise. Bigger and better ways have recently manifested helping buyers accumulate funds to close and afford the monthly payment.

Also of note? Incomes across the board have risen sharply providing for monthly payments to be met.

So good news in the short term; help is still available and payments can still be made. The immediate needs have been addressed.

So we look forward long term; access to increased values and wealth are in store for us. Just check with the aforementioned forms of ‘counsel’; they’ll tell you over and over if you ask.

Since 1980 Mortgage America has been relied upon to fund the Lehigh Valley’s real estate transactions. Many of our employees have been here for 20, even 30 years or more.

In the past sellers would provide closing costs assistance as a part of price negotiations. Given present market conditions that’s not readily available. In this competitive market Mortgage America has addressed the immediate need, making available to our buyers as much as $24,000 of assistance toward down payment and closing costs for qualified buyers.

That’s a lot of money in a market where sellers aren’t so willing to extend their good graces; help, we surmise our grandparents never would have thought possible. In addition, first-time buyers that use Mortgage America have rates available to them that are below market averages making the monthly payment more affordable. All of this in addition to the traditional methods of help always and forever allowed to come from family, friends, and places of employment!

All that said,

In the short term might we have it a bit better than generations past? Hasn’t help come around a blind corner and more of it than ever before? Equal to that, we still share the long-term optimism facing the same challenges in the hopes we, too, receive the benefits afforded to us having the courage to own rather than to rent? Like generations past we do so with courage, not knowing exactly what the future holds but understanding real estate is our most basic and fundamental access to wealth.

Be glad real estate appreciates.

Don’t be fearful when it happens, rather wipe away the fog and have faith… you’ll have plenty of cardboard!

Ask your real estate agent to call us today so that we can educate them on what’s in store for you. Mortgage America tried-and-true, with benefit of hindsight is carrying ‘arms full’ big wrapped bundles of the good stuff for you to catch as it falls…

Greater Lehigh Valley REALTORS® Release 2023 Annual Market Report

As the premier source of real estate information in the Lehigh Valley and its surrounding communities, the Greater Lehigh Valley REALTORS® (GLVR) is pleased to provide an in-depth report on the 2023 local housing market.

The following information is an overall look at the 2023 housing market, in addition to predictions for 2024.

2023: A Tale of Sluggish Sales Due to Mortgage Rate Stalemate

2023 was a challenging year for the U.S. housing market: mortgage rates hit a 2-decade high, housing inventory remained at historic lows, and sales prices continued to climb nationwide, putting homeownership out of reach for many consumers. Housing affordability remained a top concern for homebuyers, and for good reason: mortgage payments are up significantly from 2022, with many homeowners now spending more than 30 percent of their income on their monthly payments. As a result, sales of previously owned homes remained sluggish throughout the year. At the same time, the shortage of existing home inventory helped sales of new residential homes steadily increase from last year.

Higher mortgage rates aren't just affecting buyers. Many current homeowners purchased or refinanced their homes in 2020 or 2021 when mortgage rates were several percentage points lower than today's rates. And while those pandemic-era mortgages have been a blessing for many homeowners, they've also kept others from moving. Rather than give up their current mortgage rate for a higher rate and a more expensive monthly payment, some would-be sellers have chosen to put their moving plans on hold, further limiting the number of homes for sale and driving up home prices in the process.

Digging Deeper into 2023 and the Number

Sales: Pending sales decreased 15.5 percent, finishing 2023 at 6,291. Closed sales were down 19.7 percent to end the year at 6,193.

Listings: Comparing 2023 to the prior year, the number of homes available for sale was down 30.3 percent. There were 488 active listings at the end of 2023. New listings decreased by 19.6 percent to finish the year at 7,191.

List Price Received: Sellers received, on average, 101.3 percent of their list price at sale. Year-over-year list price decreased 0.7 percent.

Distressed Homes: Foreclosure and short sale activity was expected to increase in 2023, and that proved true, but this activity was still a small percentage of the Lehigh Valley market. Through strong gains in equity seen by most homeowners in the last few years, the number of distressed sales has remained limited. In 2023, the percentage of closed sales that were either foreclosure or short sale finished the year at 1.0 percent of the market – or 59 properties out of the 6,193 closed for the year. This is an increase of 27 properties over 2022, which saw 32 distressed sales.

Prices: Home prices were up compared to last year. The overall median sales price increased 7.7 percent to $360,820 for the year. Single-family home prices were up 5.9 percent compared to last year, and Townhouse-Condo home prices were up 11.6 percent.

What to Expect in 2024

With inflation showing signs of improvement, the Federal Reserve recently announced they are likely done raising interest rates for the time being and plan to make at least three cuts to their benchmark rate in 2024. Mortgage rates have been dropping in recent months, which should help bring buyers and sellers back to the market, but this could lead to an uptick in home sales and housing supply. However, affordability will still prove challenging for many homebuyers, and economists predict U.S. home sales will remain down compared to 2019 - 2022. As for home prices, opinions are mixed, with some analysts expecting prices will hold steady or continue rising in areas, while others foresee a modest price drop in some markets.

Full Annual Report

Curious to know what else the Annual Report contains? Contact a REALTOR® today for more information or for a full market analysis. Find your local REALTOR® at www.GLVR.org.

JUSTIN R. POREMBO, CHIEF EXECUTIVE OFFICER, GREATER LEHIGH VALLEY REALTORS®

Should that be leaking?

You finally found your dream house. There’s some moisture here and there, but you’re not worried.

After all, what are the chances that tree roots have strangled an aging sewer line just outside the basement wall?

Even the dreamiest house can turn into a nightmare. Don’t risk making an ill-informed offer when you could be getting expert advice.

Work with a real, live, local Realtor®. It’s worth it.

Want to know how Tony Robbins and Cristiano Ronaldo maintain peak performance? Read on.

YULIYA SEMENOVYCH LONGEVITY CONNOISSEUR AND FOUNDER OF ELIXIR HEALTH AND WELLNESS

Mild Hyperbaric Oxygen Therapy (mHBOT) has been making waves in the realms of performance enhancement, improved recovery time, and wellness among some high-profile individuals. This innovative (yet ancient, in medical timeline standards) treatment involves breathing pure oxygen in a pressurized chamber. Mild chambers are between 1.3ATA and 1.5ATA - the equivalent of 10 ft. and 15 ft. below sea level - and are believed to enhance the body's natural healing processes. The benefits range from accelerated recovery from injuries to improved cognitive function, making it an attractive option for anyone looking to gain an edge in their professional and personal lives.

Supported by research and the experiences of notable figures like Tony Robbins and Cristiano Ronaldo, this article delves into how mild Hyperbaric Oxygen Therapy is used to combat brain fog, boost mood, and help you balance and organize a demanding schedule.

Brain Fog and Cognitive Clarity

Brain fog is a common symptom in today's fast-paced world, characterized by forgetfulness, confusion, lack of focus, and lack of mental clarity. For high performers, maintaining optimal cognitive function is a non-negotiable. Studies suggest that mHBOT can significantly improve cognitive functions by enhancing brain perfusion, promoting neuroplasticity, and reducing inflammation. A landmark study published in the Journal of Neurology in 2013 demonstrated that HBOT can

lead to significant cognitive improvements in post-stroke patients, even years after the acute event. These findings have been extrapolated to suggest potential benefits for individuals who are not suffering from a neurological condition but want to experience clearer thinking and improved cognitive function.

Mood Improvement

Mental health is as crucial as physical health when it comes to operating on all cylinders. mHBOT has shown promise in the realm of mental health, particularly in improving mood and combating conditions like depression and anxiety. The increased oxygen delivery to the brain is thought to stimulate the release of serotonin and dopamine, neurotransmitters that play a key role in regulating mood. A study published in Frontiers in Psychology 2018 observed increased white matter and mood improvements in individuals undergoing HBOT for various conditions, suggesting its potential as a supportive therapy for mental well-being. This can be particularly beneficial for high-performing individuals who need to maintain a positive and resilient mindset, even with their demanding schedules.

Life, Organization, and Productivity

The ability to maintain consistent productivity levels is directly correlated to your ability to keep yourself organized - it is essential for anyone aiming for success. Cognitive functions such as memory, attention, and executive function are critical for these tasks. Research shows that mHBOT can improve

these aspects of cognitive function by enhancing cerebral blood flow, thus supplying more oxygen and nutrients to brain cells. This, in turn, can lead to better memory retention, improved attention span, and more efficient problem-solving skills. A 2020 article in the Psychology Today highlighted how consistent HBOT sessions could lead to improvements in these areas, potentially helping high performers to stay on top of their game, manage their time effectively, and maintain high levels of productivity.

Notable Public Figures

The use of HBOT by high-profile individuals such as Tony Robbins, a renowned motivational speaker and self-help guru, and Cristiano Ronaldo, one of the world's leading footballers, has brought considerable attention to this therapy. Tony Robbins has publicly shared his positive experiences with HBOT in his book Life Force, citing its benefits for energy levels and cognitive function as key components of his wellness regime. Similarly, Cristiano Ronaldo is known for his meticulous approach to health and performance, with HBOT reported by the Daily Mail as being a part of his recovery and maintenance routine. The endorsement by such figures highlights the growing interest in HBOT, not just for medical recovery but as a tool for enhancing performance and wellbeing.

Conclusion

Mild Hyperbaric Oxygen Therapy is emerging as a multi-tool in the arsenal of high-performing individuals aiming to boost performance, improve mood, and keep themselves organized. While more research is needed to fully understand its potential and delineate its effectiveness across different populations, preliminary studies and anecdotal evidence from high-profile advocates suggest significant benefits. As the boundaries between medical therapy and performance enhancement continue to blur, HBOT stands out as a promising option for those seeking to optimize their health in pursuit of excellence in all areas of life.

Follow us on social media or book a complimentary call with Yuliya at Elixir Health and Wellness by visiting www.elixirlv.com if you’re interested in exploring the benefits for yourself.

Myofascial Release And How It May Be The Pain-Free Solution To Your Pain Problem!

JESSICA PRINCE, LMT, MMP, MEDTHERAPY SOLUTIONS, LLC

So, you may have heard the phrase Myofascial Release, especially with its use with major athletes. Still, few people know what exactly it is and how it may be able to quickly resolve a slew of injuries and pain. Let's delve into what exactly it is and how it may be able to help you.

Myofascial Release is an advanced form of deep tissue massage. While it involves massage deep within the muscle, unlike regular forms of deep tissue massage, it generally does not involve large amounts of pressure, which most people find uncomfortable to unbearable. But to understand better what it is and how it works, let's start by breaking down the name. "Myo" means muscle, and "fascia" means connective tissue. Hence, with Myofascial Release, we are working with both the muscle and connective tissue (and more!) in a very specific way to cause them to release, with little to no pain during treatment, and to achieve the ultimate goal - to be pain-free! I mean, who wants to deal with pain when you don't have to? I don't, and I doubt you do either!

So, what happens when a muscle releases? It gets warm! Why? All the blood, protein, oxygen, and nutrients your muscle lacked are rushing to that previously constricted/contracted muscle to make it healthy again. Sometimes, a muscle twists after it releases, which is completely normal. Make sure you drink plenty of water before and after your massage for the most optimal results.

Let's discuss why you may or may not want to consider Myofascial Release. Even though its benefits and success rate

are unparalleled, Myofascial Release is NOT for everyone. It is not the frou-frou Swedish massage you get at a spa, and it is not a deep tissue massage that leaves you sore, bruised, in pain, and with that feeling of, "Gee, that was not beneficial or comfortable." It IS the type of massage that has a "hurts so good" while the pain is working its way out, that IS beneficial to resolving the underlying problem, but never involves intense pain that causes more pain, as that would defeat the purpose. While there are some people who still insist on the traditional deep tissue massage, which leaves them sore, bruised, and in more pain, this is typically due to their mistaken belief of "no pain, no gain," which is actually inhibiting their ability to truly get better.

You may ask yourself, "Why would I book this type of massage over another?" Great question! Well, if you're in pain, don't want to give up on your independence, happiness, and activities you enjoy, and want to get to the root cause of the problem to live a pain-free life, Myofascial Release might be the perfect solution for you, provided you understand that this won't be like a typical, flowy relaxation massage. It can be used to treat numerous conditions, including acute injuries, pinched nerves (like sciatica or piriformis syndrome), stress, tension, headaches and/or migraines, tight muscles, plantar fasciitis, whiplash, myofascial pain syndrome or chronic regional pain syndrome (CRPS) and general achiness.

Antonia Trigiani

Jeff Barber Kim Saraka

Lewis Edwards

Hearing Aid Technology for Single-Sided Deafness

JENNIFER STINSON, AU.D DOCTOR OF AUDIOLOGY, OWNER STINSON AUDIOLOGY SERVICES

When an audiologist encounters someone with what is referred to as a "dead ear," it makes it very difficult to help that person with standard amplification. A dead ear essentially means that there is no usable hearing in that ear, so no hearing aid would provide any degree of help. This could be caused by damage anywhere within the auditory pathway from the middle ear space to the auditory cortex. This is very difficult for a person to deal with as you have to make an effort to keep everyone talking to you on the side of your better ear.

The only option for an audiologist to help that person is to fit them with what is called a Cros or a BiCros hearing aid. In this case, the patient wears a transmitter on the dead ear, which looks exactly like a hearing aid, except it does not have an amplifier or a receiver. The transmitter simply takes in any sounds and transfers them to the hearing aid or device that is worn on the other ear. The hearing aid is worn on the side where the patient has usable hearing. The side with usable hearing could be normal hearing and not amplifying any of the sounds, or in the case of fitting a BiCros, that ear also has some degree of hearing loss. Many years ago, these devices were wired so the patient would have a wire behind their head that went between the two devices. As technology has improved and everything has become digital, they have become wireless. In the past, it was also the case that not all hearing aid manufacturers offered this technology, but it is becoming more widely available.

I do present this option with caution as, historically, these devices are difficult for some people to adjust to, and fitting them on anyone with a mental health diagnosis or declining cognition may cause more challenges. That being said, there are people who have worn this type of device for many years, and their brains have become accustomed to hearing this way. Other options are available to people who do not benefit from a hearing aid but require surgery. Those options would be a cochlear implant or a bone-anchored hearing device. Stay tuned to hear about these in future articles!

The Bitter Truth and Impact of Adverse Childhood Experiences

VANCE P. FARRELL, M.S. CLINICAL COORDINATOR, BEHAVIOR SPECIALIST, & CLINICAL MENTAL HEALTH TRAINER - NEW LEAF SUPPORTS

As we grow up, our lives are filled with an infinitesimal number of experiences that can range from those that are too easily forgotten all the way to experiences that shape the people we are today. This should come as no surprise, considering the immense development the human brain goes through from birth through age 21. What is often forgotten is that these experiences not only provide us with information about that specific subject or situation, but they also help us to understand the world we live in and how we fit into that world.

When viewed from this perspective, even the most minor and seemingly unimportant experience can suddenly become abundantly more impactful and paramount. While this concept and perspective can be amazing and wonderful, the flip side of this coin also sheds light onto those negative experiences that have been impactful in a more detrimental manner.

These negative experiences and their impacts on the human body and mind were studied by Kaiser Permanente and continue to be studied by them and the CDC. This study has become known as the Adverse Childhood Experiences (ACE) Study. It has drastically altered our understanding of stress, trauma, and their lasting impact on childhood development and a person’s physical and mental health into adulthood. The study was able to identify 10 ACEs that have a strong correlation to many health concerns and displays of various maladaptive and/or destructive behaviors. The ACEs

that the study was able to identify with these correlations are broken down into three categories, abuse (physical, emotional, and sexual), neglect (physical and emotional), and household dysfunction (mental illness within the family, an incarcerated relative, domestic violence, substance abuse, and an absent parent). As the number of these adverse childhood experiences increased for a person, the study identified that there was also an increased likelihood of concerning health complications and diagnoses, such as: severe obesity, diabetes, heart disease, cancer, stroke, COPD, lower bone density leading to increased incidents of broken bones, and depression. Additionally, the study has identified various behavioral manifestations present in those with higher ACEs, which include a lack of physical activity, smoking, alcoholism, substance abuse, missed work, sexually risky behaviors, and suicide attempts.

Knowing that this relationship exists should not come as a surprise, though, given the widely understood and accepted premise that positive experiences can have just as significant of an impact on our lives. The stress associated with these adverse childhood experiences and other negative situations and experiences that could happen to somebody can be catastrophic to a person's ability to function and regulate their body and mind. Experiencing these stressors during these developmentally significant years places undo stress on the

individual and forces their body and mind to live in a state of heightened anxiety, fear, and uncertainty through the body’s instinctual response to perceived danger and threats. Living in this stress-induced state for prolonged periods of time disrupts the natural balance within the body because the consistent exposure to stressful stimuli activates the limbic system of the brain and causes the body to start producing elevated levels of cortisol, the primary “stress hormone."

When this hormone is produced for extended lengths of time, the body and mind cannot regulate correctly because other necessary hormones are produced at decreased rates. The body and mind are unable to regulate it as efficiently and effectively as they would under supportive circumstances.

After taking all of this into account, it is important to understand how prior experiences, even those dating back

to childhood, can dramatically impact a person’s ability to function effectively unless these traumas and stressors are managed properly. When managing the stress from these experiences, there are many things that can be done independently, such as healthy dietary habits, physical exercise, and engaging in activities that elicit positive emotions and the production of dopamine, the “feel good” hormone, as long as these activities are not negatively impacting the body or others. However, at times, seeking assistance from professionals may be necessary, depending upon the trauma(s) experienced by an individual throughout their lifetime, to safely address and work through them while having support from others who may not have been present throughout their lifetime.

Lehigh Valley Hospital–Macungie Now Open

First LVHN neighborhood hospital features a 24/7 emergency room

JOE NIXON, LEHIGH VALLEY HEALTH NETWORK

Lehigh Valley Health Network’s (LVHN) first neighborhood hospital –Lehigh Valley Hospital–Macungie – officially opened its doors in March, providing more accessible health care in the region, complete with an around-the-clock emergency room.

The opening completes the new Macungie medical campus, where the Health Center at Macungie opened in December 2023. The site is located at 3369 State Route 100, Macungie, the location of a former Weis Markets.

Community leaders and LVHN officials, including Brian A. Nester, DO, MBA, President and Chief Executive Officer, LVHN, participated in a ribbon-cutting ceremony at the site several days before the doors formally opened to the public.

Lehigh Valley Hospital (LVH)–Macungie is the first of several neighborhood hospitals LVHN is seeking to build in the region. It’s a stand-alone, licensed, accredited acute care hospital. In addition to the full-service ER with 11 beds, it features an inpatient medical unit and ambulatory diagnostic services.

The medical unit will provide 10 inpatient beds for those requiring overnight hospital stays or additional care, observation, and testing. Someone arriving at LVH–Macungie with more acute medical problems or requiring surgery would be stabilized and transported to a larger LVHN hospital with increased care capability. Pediatric patients requiring

inpatient care will routinely be transferred to Lehigh Valley Reilly Children’s Hospital.

It fills a need by creating a medical campus and health care services not currently available in the region. Other in-house hospital services include lab and imaging. Imaging services, including X-ray, ultrasound, CT scan, and MRI, are also offered on an outpatient basis.

A second LVHN neighborhood hospital and health center is under construction in Gilbertsville, Montgomery County. LVH–Gilbertsville and the Health Center at Gilbertsville are projected to open later this year.

Health Center at Macungie

The Health Center at Macungie, a 30,000-square-foot, three-story building adjacent to LVH–Macungie, completes a healthcare hub in Macungie to provide a wide range of services to those working and living in the region. The health center includes pediatrics and family medicine, orthopedics and sports medicine, cardiology, Children’s ExpressCARE, a cardiac diagnostic center, outpatient adult rehabilitation services, X-ray services, and HNL Lab Medicine.

For more about the LVH–Macungie campus, visit LVHN.org/macungie.

Trust: The Key to Making New Employees Feel Welcome

KATELYN MACK, PRESIDENT, LINC

Starting a new job often generates feelings of excitement coupled with anxiety. Add to that starting a new job in a new location, and it is easy to imagine why employees who relocate may have a challenging time acclimating to their new community and workplace.

Employers use a variety of services to ease the transition for their relocating hires and families. These services help employees navigate the most challenging aspects of a move, such as finding housing, schools, and childcare, so employees can focus on bringing their best selves to work.

Yet, feeling a sense of community outside work is not enough to keep workers engaged. What if the same driver of community connection also fuels employee engagement? We think it does. That driver is trust.

The importance of establishing trust in workplaces is not new. A 2017 issue of Harvard Business Review reported that people at “high-trust companies” had higher levels of engagement, productivity, energy, and satisfaction than their peers at “lowtrust companies” (Zak).

So, how can leaders quickly establish trust with new employees?

Get to Know the Person

The foundation of trust is establishing a human connection with your new hire. During the interview and onboarding process, you might not know much about your employees’ personal lives. As they start, create opportunities for employees to open up about their interests, family life, and experiences. Model this by sharing information about yourself.

At the same time, I understand that not everyone wants to talk about their personal life at work. The reasons for this might be rooted in cultural norms and expectations or previous experiences of harassment or discrimination in the workplace.

Have these conversations from a place of empathy and curiosity. By seeking to better understand who your employee is as a person, not just as a producer of results, you are laying the bedrock of trust in your organization.

Listen to Your Employees’ Needs, Spoken and Unspoken

Take time to understand and validate your new employees' emotions when they are feeling positive, as well as when they are feeling anxious or overwhelmed. In Daring to Lead, Brene Brown writes, "Trust is, in fact, earned in the smallest of moments. It is earned not through heroic deeds or even highly visible actions, but through paying attention, listening, and gestures of genuine care and connection."

At LINC, we are in the position to help employees navigate multiple major life transitions. Often, they are moving to a new place, with a new company, for a new job. They may even be getting married, moving in with a partner for the first time, or have plans to grow their family. When asked what they need, our clients may respond with broad generalizations or simply say, “I don’t know” or “I’m fine.” Of course, we know better than to always take these responses at face value.

Asking thoughtful follow-up questions and finding tangible, appropriate ways to show your support builds a trusting environment that reduces stress and enables your employees

to bring their best selves to work. For example, instead of asking, "How are you doing?" ask, "How is your family adjusting to the move?" Or “What aspects of our workplace culture have been easier or harder to adjust to so far?”

Understanding what your employees care about, their values, and their goals enables you to take a more nuanced, holistic approach to their career development and personal growth.

The Result: Connection and Community

Building trust involves a feeling of connection. By getting to know your new hires, listening to their needs, and treating them with dignity, kindness, and respect you are setting yourself and your team up for supporting a culture of inclusion and belonging where your new employees will be engaged and thrive.

Katelyn Mack is President at LINC (www.linc-lv.org), a nonprofit organization serving newcomers to the greater Lehigh Valley and helping employers attract and retain talent from diverse backgrounds in the region.

Tax Considerations in the Sale of a Business: A short basic primer

TOM KERCHNER & DAVID OLSON, BMI MERGERS & ACQUISITIONS

How much a business owner keeps from the sale of their company is a key question, and taxes are the primary factor. Below is a high-level overview of the major tax considerations applicable to most business sales.

What type of corporate entity matters

• S corporation or other pass-thru structture such as an LLC.

• The main difference is that the C corporation pays income tax at the corporate level, while the S corporation pays the income tax by the individual shareholders.

What type of sale matters

• Stock or asset sale?

• Stock sales – the buyer purchases the shares of the company and thus owns the legal entity.

• Asset sale – the buyer purchases all the company's assets but not the legal entity.

C- Corporation

• Because the entity is taxed on its income and then the individual shareholder is taxed on dividends, an asset sale of a C corporation results in a very high tax bill. Combined federal rates will easily exceed 40%.

• Therefore, owners of C corporations need stock sales, where most of the taxes will be capital gains of 20% federal for active owners. Note there are variations of stock deals where the transaction is taxed as an asset deal. But these are still far better than a straight-up asset sale.

S-Corporations and other pass-thru entities

• In many cases, the tax bill on an S corporation sale will be lower than in a stock deal vs an asset deal. However, the difference is usually not so dramatic that it affects the likelihood of a completed deal.

Taxes in an asset deal – C corporation

• Assets on the books, such as inventory, AR, and net book value of fixed assets, have zero tax.

• Most other assets will be taxed at the corporate federal tax rate of 21%.

• To obtain the proceeds, the shareholders must declare a dividend, which will be taxed at 20% for each individual.

• Thus, a minimum combined 41% tax rate for a majority of the purchase price.

• In some cases, there is the possibility of assigning some value to personal goodwill, which eliminates double taxation on that part. However, this is often unavailable to middle market owners and requires a separate detailed discussion if so.

• State corporate income taxes also apply, up to 11.5%, although most are much lower. Rates are also subject to change as Pennsylvania's tax is on a declining schedule through 2031 to 4.99%. North Carolina – 2.5%, New York – 7.25%

• An asset sale of C corporation should be avoided.

Taxes in an asset deal – S corporation or pass-thru

• The key here is the purchase price allocation. This is negotiated and determines both the seller's tax bill and the buyer's annual depreciation and amortization write-offs.

• Basic components:

Non-Compete Allocation Ordinary income tax up to – 37.5%

Goodwill Capital Gains rate of 20%

• As you can see, the ideal tax structure for a seller is to reduce gains on fixed assets and minimize the non-compete allocation. The fixed asset allocation is usually the most heavily negotiated part. Non-competes are usually easily agreed to at a reasonably low number.

• In many cases, especially for businesses with low fixed assets, the tax bill on an asset sale can approach that of a stock sale.

Taxes on a stock sale

• If it is a stock sale and treated as a stock sale, then the shareholders pay capital gains tax on the value received over their basis. You will need to obtain your basis from your accountant, but a quick rule of thumb would be the company's equity value.

• Only two components:

Basis

0 Tax

Gain over Basis 20% Capital Gains rate

• Pretty simple and low tax rate but….

• Buyers don't like this because they cannot depreciate assets or amortize the balance of the purchase price; thus, they will get no tax deductions going forward.

• Therefore, in many cases, buyers will ask for a 338(h)(10) or an F reorganization, which allows them to purchase the shares but have the parties treat it as an asset sale for tax purposes.

• Whether you have a C or an S corporation, the treatment is the same as the tax calculation noted above for asset deals with an S corporation. This is because it is still a stock deal.

State taxes on asset deals

• Many states tax capital gains the same as ordinary income.

• Examples:

» New York – up to 10.9%

» California – up to 13%

» Pennsylvania – 3.07%

» North Carolina – 4.99%.

Conclusion

The tension between stock and asset deals is more common at the smaller end of the market with deals under $10 million in value. As deals become larger, the companies become more complicated, and only stock deals make sense from a practical standpoint. There are many exceptions for various reasons, but the key takeaway here should be to have a basic understanding of the workings of tax regulations in the sale of your business and consult with competent tax experts.

Business Banking Tips for Effective Financial Management

SHAWN BOGUTSKIE, SENIOR VICE PRESIDENT, BUSINESS SOLUTIONS, FIRST COMMONWEALTH FEDERAL CREDIT UNION

Running a successful business requires both effective financial management and exceptional products or services. As a business owner, understanding the best practices and latest trends in business banking can empower you to make knowledgeable choices and boost your organization's resources. Here are some essential tips to help you navigate the world of business banking with confidence:

Establish Clear Financial Goals: Before diving into the world of business banking, take the time to establish clear financial goals for your company. Whether you aim to increase revenue, expand your operations, or improve cash flow, having specific objectives will guide your banking decisions and help you stay on track.

Choose a Banking Partner That Fits: Choosing the appropriate banking partner is essential for achieving success in your business activities. Look for a financial institution that offers personalized service, understands the unique needs of your industry, and provides a comprehensive range of banking solutions. Consider factors such as convenience, fees, interest rates, and digital banking capabilities when making your decision.

Optimize Cash Flow Management: Effective cash flow management is essential for the financial health of your business. Implement strategies such as regular cash flow forecasting, monitoring accounts receivable and accounts payable, and leveraging tools like cash management services to optimize your cash flow and ensure timely payments and collections.

Explore Financing Options: Whether you're funding a new project, purchasing equipment, or covering unexpected expenses, having access to financing options is critical for business growth. Explore

different funding sources, including traditional loans, SBA financing, lines of credit, and alternative lending solutions, to find the best fit for your needs.

Embrace Digital Banking Solutions: In today's digital age, leveraging technology can streamline your banking processes and enhance efficiency. Take advantage of digital banking solutions such as online banking, mobile banking apps, and electronic payment systems to manage your accounts, track transactions, and access financial insights on the go.

Prioritize Security: Protecting your business and customer data should be a top priority in today's cyber threat landscape. Implementing security measures, such as multi-factor authentication, encryption, and regular security updates, is crucial to protect your financial information and reduce the likelihood of fraud or data breaches.

Stay Informed About Regulatory Changes:

The banking industry is subject to evolving regulations and compliance requirements that can impact your business operations. Stay informed about changes in banking laws, tax regulations, and industry standards to ensure your business remains compliant and avoids potential penalties or legal issues.

To ensure your business's long-term success and financial stability, it's essential to follow best practices and stay up-to-date with the latest business banking trends. Remember that effective financial management isn't just about making money but also about making intelligent decisions that align with your business goals and lead to sustainable growth.

Small-minded banking means we know exactly what your next big idea needs.

Historic Bethlehem Museums & Sites brings Bethlehem’s Retail History to Life on Main Street

LINDSEY JANCAY, DIRECTOR OF COLLECTIONS & ENGAGEMENT, HISTORIC BETHLEHEM MUSEUMS & SITES

When it comes to the history of commerce in our country, the Moravians in Bethlehem play a prominent role. Opened in 1745, the Moravian Book Shop on Bethlehem’s Main Street is the oldest book retailer in America. Bethlehem's Main Street is steeped in Moravian history, and Historic Bethlehem Museums & Sites, also known as HBMS, is committed to preserving the buildings and sharing the stories that have shaped our country.

The current Visitor Center and Goundie House are undergoing significant renovation to enhance the authenticity of the local and out-of-town visitor experience. Schropp Dry Goods Shoppe, opening in May 2024, will be a charming store inspired by the town’s original dry goods store, which was owned by John and Maria Elizabeth Schropp, Goundie's daughter and son-in-law, in the mid-1800s. Thanks to the support of the Keystone Savings Foundation and Alloy5, the space will offer visitors an even more historical experience.

Schropp Dry Goods Shoppe will bring a unique retail experience to Bethlehem’s Main Street, where visitors can step back in time and explore the cultural and commercial heritage of Bethlehem's past. The shop welcomes shoppers to experience the charm and genuineness of a mid-19thcentury dry goods shop, where they can choose from a curated selection of modern goods reminiscent of the historical period. This transition preserves the site's historical significance while providing patrons with a tangible and immersive shopping experience.

“Thanks to extensive and well-preserved records of both the original Schropps’ store and the boarding school for girls in Bethlehem, whose students were frequent patrons of the store, we have a clear picture of what was sold in the store in the 1800s,” stated Brett Peters, Curator of Collections & Exhibitions for HBMS. “Much of it was merchandise we still buy—everything from groceries and stationery to hardware, China, and kitchen supplies. Almost everything a 19th-century household needed could be purchased at the local dry goods store.”

The adjoining Goundie House, the home of Johann Sebastian Goundie, Bethlehem’s first brewer, will become the new Visitor Center, due to open in late summer 2024. Visitors will

find information about HBMS tours, museum collections and other programming. Engagement and hospitality are among the organization’s top priorities, and Bethlehem’s visiting guests can shop, meet with HBMS staff and volunteers and wait comfortably for tours to begin while learning more about Bethlehem’s history.

Historic Bethlehem Museums & Sites' goals for the revamped buildings are to provide a more mission-centric experience, grow retail sales and offer a taste of the organization's other activities to draw visitors into the museums and onto historical tours.

“The newly restored historic site will allow us to share unique stories like the Cheese Incident of 1842,” said LoriAnn Wukitsch, CEO and president of HBMS. The story unfolds around a curious legal case involving a five-pound brick bat hidden in a lump of butter being sold to John Schropp. You’ll have to visit to learn more about the case, the Schropps, the Goundies, and Bethlehem’s retail history.”

Historic Bethlehem Museums & Sites partnered with Alloy5, a Bethlehem-based architecture and design firm. Their expertise allowed Historic Bethlehem Museums & Sites to recreate the historic feel inside the buildings and improve the retail experience for local patrons and out-of-town guests.

“Transforming a historic space into a welcoming, visually appealing retail space has been enjoyable for the team at Alloy5,” said Michael Metzger, president of Alloy5. “We’re always happy to lend our creativity to support our community and proud to collaborate with Historic Bethlehem Museums & Sites on the new Schropp Dry Goods Shoppe design.”

The organization plans to cut the ribbon and welcome the community to a grand reopening celebration for the Schropp Dry Good Shoppe in May. The renovation is being done in phases to allow one of the two buildings to be open throughout the process.

For more details, visit https://www.historicbethlehem.org and follow Historic Bethlehem Museums & Sites on Facebook, X, Instagram and LinkedIn.

Mastering Elegance: A Guide to Charcoal and Navy Suits for Every Occasion

EDWING JOSEPH, FASHION DESIGNER - CREATIVE DIRECTOR

EDWING JOSEPH AND SONS

When it comes to refined sophistication, two hues stand out in the realm of men's fashion: charcoal and navy. These timeless suits are not just wardrobe staples but canvases for expressing style and grace. In this style guide, we unravel the secrets to mastering the art of donning charcoal and navy suits for every occasion.

Charcoal Suits: The Epitome of Versatility

Tailoring Triumphs:

• Opt for a tailored fit to enhance the silhouette. A well-fitted charcoal suit exudes confidence and professionalism.

Versatile Pairing:

• Charcoal effortlessly transitions from the boardroom to social events. Pair it with a crisp white shirt for a classic look, or experiment with light blue or pastel shades for a touch of modernity.

Play with Accessories:

• Accessories are your style allies. Elevate your charcoal suit with a patterned tie, a pocket square, or statement cufflinks. These details add flair without compromising on the suit's timeless appeal.

Seasonal Adaptation:

• Charcoal suits are adaptable throughout the year. In colder months, complement the suit with darker tones, while lighter shades work seamlessly for spring and summer.

Navy Suits: Timeless and Trendsetting

Day-to-Night Transition:

• Navy suits effortlessly transition from daytime events to evening affairs. A navy suit can be as at home in a business meeting as it is at a cocktail party.

Shirt Selection Matters:

• The versatility of navy lies in its ability to pair with a variety of shirt colors. Crisp white, light blue, or even subtle patterns – the choice is yours.

Experiment with Texture:

• Break away from the conventional with textured navy suits. Tweed, herringbone, or subtle patterns add depth and interest to your ensemble.

Casual Chic:

• Navy suits can be styled down for casual occasions. Pair with a well-fitted polo shirt or a roll-neck sweater for a relaxed yet refined look.

Universal Tips for Both Suits:

Invest in Quality Fabrics:

• Quality speaks volumes. Invest in suits crafted from premium fabrics for a luxurious look and feel.

Footwear Matters

• The right pair of shoes complete the ensemble. Brown or black leather shoes complement both charcoal and navy suits, ensuring a polished finish.

Grooming and Confidence:

• A well-groomed appearance and confidence are the ultimate accessories. Pay attention to details like a clean shave or wellmaintained beard, and carry yourself with poise.

By understanding the nuances of charcoal and navy suits and incorporating these tips into your wardrobe, you unlock the potential to master elegance for every occasion. Remember, it's not just about the suit; it's about how you wear it and the story it tells about your personal style.

How to Age-Proof Your Body

5 WAYS STRENGTH TRAINING HELPS YOU GROW MUSCLE TO SLOW AGING.

JOSEPH ARANGIO, MS, CSCS, CO-FOUNDER OF ARANGIO.COM

When you imagine a 50-something-year-old, what comes to mind?

You may envision a strong and energetic person; however, most folks over the age of 50 are getting weaker because of sarcopenia, aka muscle loss. Simple tasks, like opening a jar of pickles, feel like an Olympic event. Worse yet, this gradual decline in muscle slows your metabolism and makes it harder to lose unwanted fat. Fortunately, you can lift weights to manage the effects of sarcopenia.

According to a 2021 meta-study in the European Review of Aging and Physical Activity, progressive resistance training (PRT) is an effective treatment to improve body composition, boost muscle strength, and increase performance in healthy older people with sarcopenia. A 2022 publication in the International Journal of Women’s Health reported that postmenopausal women can reduce their chances of getting sarcopenia by making healthy lifestyle changes, such as eating enough protein and staying active with strength training. Whether you're looking to raise your energy levels or reduce the risk of chronic disease, here are five ways lifting weights can add life to your years.

1. Build Muscle Mass

Although the symptoms of sarcopenia typically don't manifest until around age 40, the process is already underway as early as age 25. After age 65, it accelerates rapidly. PRT helps combat sarcopenia by building and maintaining muscle mass, which is essential for mobility, balance, and overall strength. The added muscle can also boost your metabolism so you burn calories more efficiently.

Do This: Barbell Squat

Set up a barbell on a rack at shoulder height. Stand under the bar, feet shoulder-width apart. Grip the bar with hands slightly wider than shoulder-width. Lift the bar off the rack, step back, and lower your body until your thighs are parallel to the ground. Push

through heels to stand up. Do 3 sets of 10 reps with a weight that allows you to feel challenged while maintaining perfect form.

2. Increase Bone Density

PRT has been shown to increase bone density, which is essential for maintaining bone strength and preventing fractures. As you age, your bones become weaker and more brittle, making you more susceptible to falls and fractures. PRT can help reduce this risk by strengthening your bones.

Do

This: Barbell Sumo Deadlift

Stand in the center of the bar with feet wider than shoulder-width apart. Bend at the knees and hips to grip the bar. Keep the back flat and chest up. Push through the heels, extending the hips and knees to stand up straight. Lower the bar back down with perfect technique. Perform 3 sets of 5 reps with a challenging weight.

3. Boost Cardiovascular Health

PRT can help improve cardiovascular health by reducing blood pressure, increasing blood flow, and improving cholesterol levels. This can help reduce the risk of heart disease, which is a leading cause of death among older adults.

Do

This: Dumbbell Squat-to-ShoulderPress

Hold dumbbells at shoulder height, with palms facing ears. Perform a squat by bending your knees and lowering your hips. As you stand up, press the dumbbells overhead until arms are

straight. Lower the dumbbells back to shoulder height and repeat the movement for a full-body workout. To challenge your heart and lungs, pick a weight that allows you to complete 3 sets of 20 perfect reps.

4. Improve Balance and Coordination

PRT can help improve balance and coordination, which is essential to maintain mobility and reduce the risk of injury due to falls. By improving your stability, PRT can also allow you to continue to play competitive sports, like pickleball, even though your post-game celebration will probably involve ice packs and ibuprofen.

Do This: Dumbbell Bulgarian Split Squat

Stand facing away from a box or bench, holding dumbbells at your sides. Place one foot on the box behind you. Lower your body until your forward thigh is parallel to the ground. Push through the front heel to return to the starting position. Repeat 10 times on each leg.

5. Reduce Inflammation

PRT has been shown to reduce inflammation, which is a major contributor to the aging process. Chronic inflammation can contribute to a variety of health problems, including heart disease, cancer, and Alzheimer’s.

Do This: Dumbbell Standing Lat Row

Stand with feet hip-width apart, holding

LIFT YOUR BEST LIFE

While you can't sprout new muscle cells, you can develop the ones you have left. It's never too late to lift weights, even if you are in your 70s or beyond. Studies show that older patients who participated in strength training programs were able to increase their mobility and move from using a wheelchair to walking with a walker or cane.

With consistent strength training, you will notice significant improvements in your energy levels, balance, and overall ease of performing daily tasks, like opening stubborn pickle jars by yourself. Additionally, your clothes will fit differently as you build muscle and burn fat. By investing in resistance training now, you are building your future health, independence, and overall quality of life.

ABOUT THE AUTHOR

Joseph Arangio, MS, CSCS, is co-founder of Arangio.com, a results-driven bodytransformation program for men and women, over the age of 40, who want to lose weight, get strong, and slow aging in 90 days guaranteed.

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A Luxurious Escape in the Canadian Rockies: Fairmont Chateau Lake Louise

JENNIFER DONCSECZ, CTIE PRESIDENT, VIP VACATIONS INC

Nestled amidst the majestic peaks of Banff National Park, Canada, lies the iconic Fairmont Chateau Lake Louise. More than just a hotel, it's a portal to a world of breathtaking beauty, rich history, and unparalleled luxury. The initial lodging establishment dates back to 1890, while the current structure reflects various constructions and renovations throughout its history.

Standing proudly on the shores of the namesake lake, the chateau's grand architecture evokes a bygone era of elegance. Its turrets and gables echo the surrounding mountains, creating a sense of harmonious integration with nature. Stepping inside, the grandeur continues with soaring ceilings, intricate woodwork, and expansive windows framing the turquoise waters and snow-capped peaks. This impressive resort boasts 539 rooms and suites.

Fairmont Chateau Lake Louise offers more than just stunning scenery. The resort boasts an array of world-class amenities catering to every whim. Indulge in a rejuvenating treatment at the spa, tee off on the championship golf course, or embark on a scenic hike through the pristine wilderness. In the winter, the slopes of Lake Louise Ski Resort beckon, offering exhilarating adventures for skiers and snowboarders of all levels. Not to be missed is the opportunity to canoe on the lake at sunrise, where pink and blue hues mingle together.

Beyond the resort, the UNESCO World Heritage Site of Banff National Park awaits exploration. Hike to the top of Johnston Canyon for breathtaking waterfalls, canoe on Moraine Lake's emerald waters, or spot wildlife like elk and bears roaming freely.

Whether you seek relaxation amidst breathtaking scenery, an adventure in the great outdoors, or a taste of luxury, Fairmont Chateau Lake Louise offers an unforgettable experience. It's a place where memories are made, and the magic of the Canadian Rockies comes alive.