The IRS sets and adjusts FSA limits annually for inflation . Some employers can set lower limits for their own plans. Married couples can contribute to their own plans to meet a combined household limit.You can't use an FSA with a marketplace health insurance plan. (You can use an HSA with a marketplace plan, though.)There are certain rules you need to know about FSAs:Since an FSA uses pre-tax dollars, it lowers your taxable income. The money you put into your FSA is not subject to income taxes. You can mak ...

QRTC是一种经OECD认可的激励工具，允许企业将用于研发、技能提 升、标准改进及效率提升等支出计入税收抵免，从而减轻额外税负、增强资金 流动性，并鼓励持续投资。BOI计划修订《竞争力提升法》，以将QRTC纳入 正式法律框架。此举有助于泰国保持在重点产业的竞争力，巩固区域投资基 地，推动经济持续增长。 据泰媒报道，泰国投资促进委员会（BOI）宣布推出新的"合格可退税额抵 免（QRTC）"政策，以符合经合组织（OECD）全球最低税（GMP）规定，并 继续吸引跨国投资。BOI秘书长纳立表示，尽管全球最低税要求大型跨国企业 缴纳不少于15%的企业所得税，但泰国不会取消现有税收优惠。新的QRTC政 策将作为现有BOI优惠的补充，为受最低税影响的企业提供替代方案。 （原标题：BOI推出"税收抵免"新政 应对OECD全球最低税要求） ...

Financial Data and Key Metrics Changes - Total revenues and income increased to $165 million, up 46.7% year over year from $113 million [29] - Adjusted EBITDA grew by 23% to $112 million compared to $91 million for the same period in 2024 [32] - Net income rose by 33% to $32 million from $24 million last year [31] - The company raised its full-year 2025 guidance, now expecting revenues between $555 million and $565 million, and adjusted EBITDA between $400 million and $415 million, representing a 64.5% increase for both metrics [34] Business Line Data and Key Metrics Changes - Revenues from electricity sales rose 27% to $139 million, driven by new operational projects [29] - New projects contributed $22 million to revenue from electricity sales, with significant contributions from Atrisko, Israeli projects, and Pupin [30] - The energy storage segment is highlighted as a major growth engine, with a global mature storage portfolio reaching 11.8 gigawatt hours, projected to generate annual revenues of $650 million to $700 million once operational [10] Market Data and Key Metrics Changes - Revenues and income distribution: 47% from Israel, 27% from Europe, and 26% from the U.S. [30] - The company is expanding its presence in Europe, particularly in energy storage, with acquisitions in Germany and Poland [9][60] Company Strategy and Development Direction - The company aims to triple its business size every three years, with a focus on disciplined growth and strong returns on investments [15][19] - The strategy includes diversifying across geographies and technologies, with a commitment to maintaining profitability [19][62] - The company is positioned to capitalize on the growing demand for renewable energy, particularly in the context of AI investments and improving regulatory environments [16][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory, citing strong market fundamentals and a robust project pipeline [19] - The company anticipates continued growth in operating capacity, with expectations for a similar growth rate as seen in previous years [42] - Management highlighted the importance of mitigating risks related to interconnection and permitting as the company expands its project portfolio [42] Other Important Information - The company secured approximately $4.8 billion in project finance and corporate debt over the past twelve months, enhancing its financial flexibility [11][34] - The Snowflake A project in Arizona is noted as the largest project in the company's history, with expected revenues of approximately $130 million in its first full year of operation [11][12] Q&A Session Summary Question: How did solar and wind resource availability compare to typical seasonal assumptions? - Management noted additional wind in Israeli assets and solar performance was in line with expectations, with battery storage projects contributing additional revenues [37][38] Question: What enabled the acceleration in safe harboring projects? - The strategy included significant physical work both on-site and off-site, allowing for the completion of safe harbor requirements ahead of schedule [40] Question: What are the expected growth rates of operating capacity moving forward? - Continued growth is expected, with a focus on prioritizing projects and mitigating risks associated with interconnection and permitting [42][43] Question: Can you discuss the current India tariff exposure and mitigation strategies? - The company is sourcing PV cells from countries not subject to ongoing investigations, providing flexibility to mitigate country-specific risks [53] Question: Any updates on changes or strategies since the new CEO joined? - The CEO reaffirmed commitment to the existing strategy, emphasizing diversification and diligent execution to maintain growth rates [62]

文｜锦缎 这一区分至关重要：半导体工厂产出的产品服务于整个经济，而OpenAI的数据中心所产出的算力主要 服务于其自有模型。扩大税收抵免实则是将资本风险社会化，而收益仍保持私有。 11月6日，OpenAI首席财务官Sarah Friar在《华尔街日报》活动上的发言引发舆论危机。她提出政府 应"提供担保以促成融资"。这一措辞谨慎而模糊，既可指直接贷款担保，也可理解为更广泛的基础设施 支持。 上周，山姆·奥特曼在X上发文称，OpenAI预计年底年收入将达到200亿美元，并"在2030年前突破数千 亿美元"。在此三天前，其首席财务官则暗示，政府应"担保"该公司的基础设施贷款——尽管她随后改 口称自己"说错了话"。 实际上，更重要且被市场忽略的基本事实发生在一周以前——OpenAI全球事务负责人致信白宫，请求 将原本针对半导体工厂的税收抵免政策，扩展至AI数据中心、服务器制造商及电气变压器等领域。 该公司宣称，计划在未来八年投入1.4万亿美元资本支出。作为对比，这一数字已超过墨西哥的年度 GDP，相当于一家初创公司要花掉美国GDP的约5%，只为搭建训练更大语言模型的计算设施。 作为当前世界最炙手可热的AI超级明星，O ...

文 | 硅基星芒 上周，山姆·奥特曼在X上发文称，OpenAI预计年底年收入将达到200亿美元，并"在2030年前突破数千 亿美元"。在此三天前，其首席财务官则暗示，政府应"担保"该公司的基础设施贷款——尽管她随后改 口称自己"说错了话"。 实际上，更重要且被市场忽略的基本事实发生在一周以前——OpenAI全球事务负责人致信白宫，请求 将原本针对半导体工厂的税收抵免政策，扩展至AI数据中心、服务器制造商及电气变压器等领域。 该公司宣称，计划在未来八年投入1.4万亿美元资本支出。作为对比，这一数字已超过墨西哥的年度 GDP，相当于一家初创公司要花掉美国GDP的约5%，只为搭建训练更大语言模型的计算设施。 作为当前世界最炙手可热的AI超级明星，OpenAI罕见地向美国政府发出一连串"求救信号"，意味着什 么？ 太阳底下没有新鲜事。这背后只有两种可能：要么OpenAI确实找到了一条能证明大规模公共补贴合理 性的回报路径；要么它构建了一套离不开永久性政府干预、否则就会崩溃的金融架构。 10月27日，OpenAI致信白宫的信件揭示了一个结构性困境：目前，"先进制造投资抵免"（AMIC）为半 导体制造投资提供35%的税收 ...

Core Insights - The One Big Beautiful Bill Act (OBBBA) introduces changes to charitable deductions that will affect both itemizers and non-itemizers differently, with a focus on income levels and whether households itemize deductions [1][4][9] - Starting in 2026, middle-class donors will benefit from a permanent "above-the-line" deduction for non-itemizers, which will provide $1,000 for individuals and $2,000 for couples filing jointly, enhancing their tax savings [2][10] - The new legislation includes a federal tax credit for contributions to scholarship-granting organizations, which will be available to all taxpayers and could incentivize charitable giving in education [10][11] Summary by Sections Charitable Deductions - The OBBBA will reduce some tax deductions for wealthy itemizers, while also providing new avenues for charitable donations that could influence long-term planning [4][5] - Non-itemizers previously had temporary deductions of up to $300 for individuals and $600 for couples, which will be replaced by the new permanent deduction starting in 2026 [1][2] Impact on Wealthy Donors - Wealthy individuals may reconsider their charitable giving strategies due to the clarity provided by the new law, which could influence the amount they leave to charity [3][15] - The law introduces new limits on charitable deductions for itemizers, including a 0.5% floor on modified adjusted gross income and a reduction of two percentage points for top income bracket deductions [7][12] Planning Strategies - Financial advisors are likely to see increased inquiries from wealthy clients about accelerating charitable donations before the end of the year, particularly in light of the new rules [5][13] - The concept of "bunching" contributions into specific years may become a common strategy to optimize tax benefits under the new regulations [9][13] Educational Contributions - The new federal tax credit for contributions to scholarship-granting organizations, starting in 2027, will provide up to $1,700 per taxpayer, which is a unique incentive in the realm of charitable giving [10][11] - This credit is designed to encourage more school choice and will be capped at $10 billion in total federal benefits [11][12] Long-term Considerations - While the changes are not considered revolutionary, they prompt a reevaluation of philanthropic strategies among clients, particularly regarding the timing of donations [15][16] - Advisors are encouraged to integrate charitable giving into clients' overall financial plans to avoid unintended consequences [16]

Financial Data and Key Metrics Changes - Ethanol sales volumes increased to 70.6 million gallons in Q2 2025 from 65.1 million gallons in Q2 2024, while the average selling price decreased to $1.75 per gallon from $1.79 [12] - Gross profit for Q2 2025 was $14.3 million, down from $19.8 million in Q2 2024, primarily due to lower sales prices for dry distiller grains [13] - Net income attributable to REX shareholders was $7.1 million or $0.43 per diluted share, compared to $12.4 million or $0.70 per diluted share in Q2 2024 [14] Business Line Data and Key Metrics Changes - Dry distiller grain sales volumes were approximately 148,000 tons with an average selling price of $143.63 per ton, down from 133,000 tons at $164.45 per ton in the prior year [12] - Modified distillers grain volumes totaled approximately 19,000 tons at an average selling price of $64.41 per ton [12] - Foreign oil sales volumes increased by approximately 14% year-over-year, with a 26% increase in prices leading to a 46% increase in sales dollars [13] Market Data and Key Metrics Changes - The U.S. corn crop is on track for a potential record harvest, which is expected to benefit REX [18] - Ethanol exports are running about 10% ahead of 2024 levels through June, with expectations for 2025 to set a new export record [17] Company Strategy and Development Direction - REX's strategy is guided by profit, position, and policy, focusing on sustainable long-term organic growth through ethanol expansion and carbon capture initiatives [15] - The company is positioned to maximize benefits from the 45Q and 45Z tax credits, which have been extended through 2029 [10][15] Management's Comments on Operating Environment and Future Outlook - Management anticipates better performance in the second half of 2025 compared to the first half, supported by favorable corn supply trends and steady demand [17] - The company remains confident in its core business outlook and is committed to executing its growth strategy while delivering long-term value to shareholders [18] Other Important Information - REX has invested approximately $126.7 million in carbon capture and ethanol expansion projects, remaining within a combined budget range of $220 million to $230 million [11] - The Board of Directors has authorized a two-for-one stock split, effective for shareholders of record as of September 8, 2025 [5] Q&A Session Summary Question: Can you discuss the event held at the One Earth Energy facility and its implications for local support? - The event was well attended by local officials and shareholders, enhancing community relations and support for growth projects [21][22] Question: Was the issue with the interconnection from the local utility resolved? - Yes, the issue has been resolved, and the company can now obtain utility directly from Amarin [23] Question: What is the outlook for co-products and ethanol margins in the second half? - The third quarter is expected to outperform the second quarter, with favorable feedstock availability and increasing ethanol exports [26][27] Question: What is the status of the CI score and potential credits without a carbon pipeline? - The company has not publicly disclosed its CI score due to unclear guidelines but is optimistic about potential tax credits [32][34] Question: Will the company be able to build the carbon pipeline soon after the expiration of the Illinois moratorium? - The goal is to proceed with construction after receiving necessary approvals, which could allow operations in 2026 [35][36] Question: What is the expected build time for the pipeline once approvals are received? - The pipeline is approximately 6.5 miles long, and construction would take a couple of months once permissions are granted [37][38]

Financial Data and Key Metrics Changes - Ethanol sales volumes increased to 70.6 million gallons in Q2 2025 from 65.1 million gallons in Q2 2024, while the average selling price decreased to $1.75 per gallon from $1.79 [12] - Gross profit for Q2 2025 was $14.3 million, down from $19.8 million in Q2 2024, primarily due to lower sales prices for dry distiller grains and higher shipping costs [13] - Net income attributable to REX shareholders was $7.1 million or $0.43 per diluted share, compared to $12.4 million or $0.70 per diluted share in Q2 2024 [14] Business Line Data and Key Metrics Changes - Dry distiller grain sales volumes were approximately 148,000 tons with an average selling price of $143.63 per ton, down from 133,000 tons at $164.45 per ton in the prior year [12] - Modified distillers grain volumes totaled approximately 19,000 tons at an average selling price of $64.41 per ton [12] - Foreign oil sales volumes increased by approximately 14% with a 26% increase in prices, leading to a 46% increase in sales dollars [13] Market Data and Key Metrics Changes - The U.S. corn crop is on track for a potential record harvest, which is expected to benefit REX [17] - Ethanol exports are running about 10% ahead of 2024 levels, with expectations for 2025 to set a new export record [16][17] Company Strategy and Development Direction - REX's strategy is guided by profit, position, and policy, focusing on sustainable long-term organic growth through ethanol expansion and carbon capture initiatives [15] - The company is positioned to maximize benefits from the 45Q and 45Z tax credits, enhancing the economics of operations and future earning potential [15][16] Management's Comments on Operating Environment and Future Outlook - Management anticipates better performance in Q3 2025 compared to Q2 2025, supported by favorable corn supply trends and steady demand, particularly from rising ethanol exports [16][17] - The company remains confident in its core business outlook and is committed to executing its growth strategy while delivering long-term value to shareholders [17] Other Important Information - REX announced a two-for-one stock split to reward shareholders and increase liquidity, effective for shareholders of record as of September 8, 2025 [5][6] - The company has invested approximately $126.7 million in carbon capture and ethanol expansion projects, remaining within a combined budget range of $220 million to $230 million [11] Q&A Session Summary Question: Can you discuss the event held at the One Earth facility and its implications for local support? - The event was well attended by local officials and shareholders, enhancing community relations and support for growth projects [20][21] Question: Was the issue with the interconnection from the local utility resolved? - Yes, the issue has been resolved, allowing for direct utility access [22] Question: What is the outlook for co-products and ethanol margins? - The third quarter is expected to be better than the second quarter, with strong corn oil production but weaker DDG prices relative to corn [24][27] Question: What is the status of the CI score and potential credits without a carbon pipeline? - The CI score has not been publicly discussed due to unclear guidelines, but the removal of Smart Farming from calculations may help improve the score [31][32] Question: If the Class six well is approved, will construction begin soon after the Illinois moratorium expires? - The goal is to begin construction soon after receiving all necessary permits [33][34] Question: What is the expected build time for the pipeline once approvals are received? - The pipeline construction is expected to take a couple of months once permissions are granted [35]

Group 1 - Trump has launched a comprehensive attack on renewable energy, labeling wind and solar power as a "century scam" and stating that his administration will not approve projects related to these energy sources [1] - The U.S. Department of Agriculture has announced the termination of financial support for developing clean energy on productive farmland, posing challenges for farmers relying on federal incentives during low crop price periods [2] - Following Trump's recent statements, clean energy exchange-traded funds (ETFs) experienced declines, with iShares Global Clean Energy ETF dropping 0.96% and First Trust NASDAQ Clean Edge Green Energy Index Fund falling 1.07% [3] Group 2 - The latest Consumer Price Index from the U.S. Bureau of Labor Statistics indicates that electricity prices have risen by 5.5% over the past year, more than double the inflation rate [2] - The Department of the Interior has tightened federal permitting for renewable energy projects, aiming to create a fair competitive environment for coal and natural gas industries after years of perceived attacks from the Biden administration [2] - Trump's administration has proposed the "Big and Beautiful" plan, which aims to terminate investment and production tax credits for wind and solar energy by the end of 2027, crucial for the expansion of renewable energy in the U.S. [1]

Group 1 - The solar sector in the US experienced a significant rally, with multiple stocks showing impressive gains [1][3] - Sunrun, the largest residential solar installer in the US, saw its stock rise by as much as 42%, closing with a gain of 32.82% [3] - SolarEdge Technologies increased by 17.10%, while NextEra Energy, the largest developer of solar and wind energy, rose by 4.39% [3] Group 2 - The Invesco Solar ETF also performed well, closing up 8.79%, marking its best single-day performance since May 2024 [3] - The surge in the solar sector is likely linked to a large tax reduction and spending bill signed by Trump on July 4, which allows solar and wind projects starting construction within 12 months to qualify for tax credits [3] - There are over 2,500 wind and solar projects in the US that could be affected by this legislation, with a total generating capacity equivalent to 383 nuclear power plants [3] Group 3 - Recent adjustments to guidelines by the US Treasury and IRS have removed the previous "5% standard" for large projects, now requiring developers to demonstrate "substantial physical work" is ongoing [4] - Small solar facilities under 1.5 megawatts can still apply under the "5% expenditure" standard, while residential solar projects remain eligible under previous guidelines [4]