May 2021 ISSUE
Greetings NACOC Families,

Welcome to miraculous May!
It’s the 5th month of the year and has 31 days.
The month is named after Maia, a Greek goddess of fertility; thus, it’s a month of new hopes, dreams, and transformation.
Token of gratitude to share:
With all your generous support, the Nepalese American Chamber Of Commerce- Dallas TX have placed an order of 50 oxygen cylinders for Nepal.
Along with Nepalese Society , Texas (NST) , Texas Nepalese Medical Association - TNMA, and few other social organizations, we are hopeful that we should be able send further help in different parts of Nepal very soon.
Thankyou!
With this positive note, we are remembering 3 important holidays specific to this month;
Mother’s day, national nursing week , and national bicycle month.
Let's welcome our special guest SRaj Shakya, whose story is connected to all 3 of these holidays. Mr. Shakya is the founder of Kamala Shakya Foundation, which was named after Kamala, a mother of two beautiful children, who was a nurse and still impacting lives years after she is gone.
SRaj Shakya, on behalf of Kamala Shakya Foundation initiated cycling for cause on April 25th, raised fund for cancer awareness, and contributed $3,000.00 fund to NACOC supporting COVID19 relief on present urgency of Nepal.
Let's have a teatime conversation with SRaj.
Tell us briefly about Kamala Shakya Foundation. When it was formed?
 Kamala was sick. We were getting overwhelming support from everywhere. People wanted to start a go-fund but she didn’t like the idea. She was a born nurse after all. She rather wished to start something through which she could help many needy people. Knowing her wish I stood by her side. I motivated her. Her wish became my goal, and by the help of well-wishers, dinner was arranged collecting $32,000 that was used towards Kamala Foundation which was formed in May of 2018 as a result of collective effort of entire community of well wishers.
 Your “Why”? a story behind your cause.
 Kamala was a wonderful woman, a wife, a mother, but more importantly a dedicated nurse. She used to share how she couldn’t help thinking about Nepali women, the mothers and sisters who needed so much help. Making them aware of cervical cancer was a first step towards prevention, which paved a path to further the initiative.
My wish as an individual/ a community person/as a dad?
 Peace is my ultimate wish for entire mankind. Mindful living is what I have been practicing and advocating in this life where everyone is in rush. We need to live in present, only then we will be able to live spiritually.
Thus, it’s time to pause and practice mindful living.
 Message to those who lost their loved ones.
 They may not exist physically but spiritually they are with us. You can find that connection. When I lost her, she actually taught me to find her through spirituality and through art of mindful living. We all are rushing in life, but life is all about living in a present moment and appreciating what we have than lamenting over what we lost. 
What keeps you moving? or gives joy?
Meditation. Meditation. Meditation.
I like cycling, walking, or simply living in present. Be happy at what we have right NOW is the secret of my happiness. Also, minimizing desires and ambition help you find answer to many questions if you start to think.
Fun thing about me?
Using camera :) Taking photography makes me forget everything… I also like reading books. I used to read books for her even in hospital bed, but it’s she who always insisted me to take my camera and capture the world.
She used to say, “You simply lit when you hold camera, please keep capturing life through your lenses. She knew what lights me.
Any message to community?
‘Please meditate,’ this is all I want to say. Meditation gives you a key to find all your answers. Also, learn to give. Giving makes you lighter, happier.
I have been helping people to practice meditation. I feel happy sharing what I know and teach others. I do initial orientation, and then go from there. I am glad that people are providing positive feedback how they have been helped to get better sleep, relational issues etc. though meditation. Understanding your breathing can do miracle. I can help or connect to those who can help people in need. I am happy to live simple, meaningful life and find joy in helping others to simplify theirs too.

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“Your time is limited, so don’t waste it living someone else’s life.”
― Steve Jobs
Sincerely,
Nepalese American Chamber of Commerce
The Nepalese American Chamber of Commerce is an independent, not-for-profit US Corporation devoted to create, protect, promote and enhance economic opportunities & prosperity to Nepalese Business community in the USA.
It was established in 2014 to advance and promote the economic environment for business, and to advocate responsive government and quality education, while preserving unique characteristics of Nepalese-American communities.
May Birthday Special
May Birthday?
Your birthstone is Emerald a symbol of love and success, and your flower is Lily of the Valley!
SPRING
6 Steps To Breaking Your Bad Habits
(And Replacing Them With Better Options!)
 
Virtually everyone has at least one bad habit that they wish they could rid themselves of. However, the actual definition of a habit is a “regular tendency or practice, especially one that is hard to give up”, which makes it rather clear how difficult it is to break those pesky habits. Yet, it is possible—keep reading to learn 6 steps that can assist you in breaking your bad habit and developing better, healthier options to replace them.

Step 1: Identify (and Acknowledge) the Habit

Step 2: Understand the Reason for Your Habit

Step 3: Brainstorm and Implement Replacements

Step 4: Remove Triggers

Step 5: Visualize Success

Step 6: Forgive Yourself for Faltering

As it turns out, breaking your bad habits is easier than you may have thought! Follow this simple and easy 6-step guide and soon, you’ll have replaced your bad habits with better, healthier, and more positive ones.

For full article:
https://mail.google.com/mail/u/0/?tab=rm&ogbl#inbox/FMfcgxwLtZvdhzGrHpZlqLbrxNzjQTMR

On March 11, the American Rescue Plan Act of 2021 created the $28.6 billion Restaurant Revitalization Fund to provide grants for restaurants sustaining financial losses due to the COVID-19 pandemic. On April 17, the U.S. Small Business Administration (SBA) issued the necessary federal rules, regulations, and a sample application to distribute the grant funds. This frequently asked questions (FAQ) resource will be updated as the SBA releases information on the Restaurant Revitalization Fund Grant (RRFG) Program.
Here is the link for detailed information eligibility.


ELIGIBILITY 1. Who is an “eligible entity” for Restaurant Revitalization Fund Grants (RRFG)?
Entities that own a place of business where the public or patrons assemble for the primary purpose of being served food or drink, including a: • Restaurant, Food Stand, Food Truck, Food Cart; • Snack and Nonalcoholic Beverage Bar; • Caterer; • Bar, Lounge, Saloon, Tavern; • An Inn; • Brewery, Brewpub, Microbrewery, Taproom, Tasting room;* • Bakery;* • Winery;* • Distillery;* • A licensed facility or premise of a beverage alcohol producer where the public may taste, sample, or purchase products; • Other similar place of business in which the public or patrons assemble for the primary purpose of being served food or alcohol.
Business Update







Effective immediately, applicants can send a request for reevaluation of a Targeted EIDL Advance application that was declined to the following email address: [email protected].
Applicants should follow these instructions when requesting a reevaluation:

  • Send an email to [email protected]
  • Use the subject line “Reevaluation Request for [insert your 10-digit application number]”
  • In the body of the email, include identifying information for the application such as application number, business name, business address, business owner name(s) and phone number
  • Important: Include an explanation and any documentation that addresses the reason for the decline, if available. SBA will contact applicants if additional documentation is required to complete the review.


https://mail.google.com/mail/u/0/?tab=rm&ogbl#inbox/FMfcgxwLtZvdhzGrHpZlqLbrxNzjQTMR


“Have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.”
― Steve Jobs
Over the next few days, our tech team and vendors will remain focused on testing the Shuttered Venue Operators Grant application portal; it will not reopen this weekend. We are aiming to reopen the portal by the end of next week.
We know this funding is urgently needed now and are doing all we can to reopen with the greatest amount of certainty as possible.
As we’ve shared, after our vendors fixed the root cause of the initial tech issues, more in-depth risk analysis and stress tests identified other issues that impact application performance. The vendors are quickly addressing and mitigating them and working tirelessly with our team so the application portal can reopen ASAP and we can deliver this critical aid.
We have and will continue to engage with stakeholders on the applicant experience and will continue to share updates regularly. For the most current updates, continue to check SBA’s Twitter feed. And, again, applicants will have advance notice so they can be best prepared.
For more information about the Shuttered Venue Operators Grant program, visit sba.gov/svogrant.
Businesses can temporarily deduct 100% beginning January 1, 2021
IR-2021-79, April 8, 2021
WASHINGTON — The Treasury Department and the Internal Revenue Service today issued Notice 2021-25 PDF providing guidance under the Taxpayer Certainty and Disaster Relief Act of 2020. The Act added a temporary exception to the 50% limit on the amount that businesses may deduct for food or beverages. The temporary exception allows a 100% deduction for food or beverages from restaurants.
Beginning January 1, 2021, through December 31, 2022, businesses can claim 100% of their food or beverage expenses paid to restaurants as long as the business owner (or an employee of the business) is present when food or beverages are provided and the expense is not lavish or extravagant under the circumstances.
Where can businesses get food and beverages and claim 100%?
Under the temporary provision, restaurants include businesses that prepare and sell food or beverages to retail customers for immediate on-premises and/or off-premises consumption. However, restaurants do not include businesses that primarily sell pre-packaged goods not for immediate consumption, such as grocery stores and convenience stores.
Additionally, an employer may not treat certain employer-operated eating facilities as restaurants, even if these facilities are operated by a third party under contract with the employer.

Written by Brent Sheppard

With everything happening in the country right now, next year’s taxes may not be front and center with you — or with the new administration in Washington. Nonetheless, President Joe Biden has laid out an extensive plan to revamp U.S. tax policy when there’s running room in Congress.

That may not be until year’s end, with changes possibly affecting 2022 tax returns, rather than 2021 returns. Or tax change could come sooner in an effort to rebuild revenue hard hit by some of the tax changes that may be included in the infrastructure bill. Either way, it’s never too early to consider how to prepare for the possibility that key proposals become legislation. Here’s a look at four points from Biden’s plan that could particularly impact high income earners.
 
The top federal income tax rate could go up
For households with taxable incomes above $400,000 and individuals with taxable incomes above $200,000, Biden’s proposal would return the top marginal tax rate to 39.6% from the current 37% set by the 2017 Tax Cuts and Jobs Act.
To position yourself for this possibility, it may be appropriate for you to speak with a financial professional about any opportunities you may have to defer income that puts you over the income limit. Bear in mind that you don’t want to shift away income or assets that you need to maintain your lifestyle.
The estate and gift tax exemption could go down
Biden’s tax plan would reduce the estate and gift tax exemption and potentially raise the top estate tax rate. The latest proposal suggested returning both exemptions and tax rate to 2009 levels, which were an estate gift tax exemption of $3.5 million and a top tax rate of 45%.
These possible revisions make now a good time to review your estate and estimate its potential tax liability. You can then identify strategies — such as gifting and trusts — that may reduce your ultimate estate value. You might also consider speaking to a Hancock Whitney Trust Advisor about planning strategies to help your heirs offset the cost of estate taxes.
For full article:
https://www.hancockwhitney.com/insights/what-president-bidens-tax-plan-might-mean-for-you
Our Sponsors
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Nepalese American Chamber of Commerce
2016 W. Grauwyler Rd, Irving, TX, 75061
Phone: (972)-399-9605
NewsLetter Editor: Shilu.G.N