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Beyond Bank and Cognizant join forces to lead the future of customer-owned bankingAffiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate tax products to write unbiased product reviews. Donations to charity are generally tax-deductible if you itemize your deductions. The recipient of your donation must have a special tax-exempt status called 501(c)(3). Gifts of cash, stockholdings, clothing, household goods, and even real estate are potentially tax-deductible. Taxpayers who donate to charitable causes can use a federal income tax deduction to reduce what they owe the IRS. However, only those who itemize their deductions can take advantage of it. According to the Tax Foundation, since 2017 tax reforms, the number of people who itemize has dropped dramatically, making the charitable tax deduction all the more valuable to those who qualify. Qualified organizations for tax-deductible donations Some donations to 501(c)(3) organizations are deductible on your federal tax return and potentially your state return, too. This means you can subtract the value of the donation from your income, which may lead to a lower tax bill. A 501(c)(3) is a tax-exempt organization registered with the IRS. Examples include religious and educational groups, civil and human rights groups, animal and child welfare organizations, private family nonprofits, and medical research groups. Types of tax-deductible donations Most people give cash to charity, in part because it's easy to report. But you can also donate big-ticket items such as a car or stock portfolio. Donating financial assets that have increased in value helps you avoid the capital gains tax and qualify for an income tax deduction. "Donations can take the form of almost anything of value, and the fair market value most often determines the deduction amount," says H. Jeffrey Spivack, director of financial planning at Prestige Wealth Management Group. Donations to political parties, political action committees, campaigns, or individual political candidates are not eligible for a tax deduction. Neither is money you give to individuals, whether directly or through online fundraisers. For example, a donation to the American Red Cross for hurricane relief might be tax-deductible (provided you meet other conditions), but a check made out to a specific family affected by the disaster is not. Many people give cash or cash equivalents to charity. Other types of donations that may be eligible for a tax deduction include: Stocks and bonds Intellectual property, such as patents, copyrights, and trademarks Jewelry, coin, or stamp collections Clothing, appliances, electronics, furniture, and other household items that are in good condition or better Cars, boats, and airplanes Real estate and land Business inventory (special rules apply to food) 14 cents per mile when you drive your car while volunteering for a qualifying organization Important: Donations to individuals are not considered tax-deductible charitable contributions. They are gifts and fall under separate gift tax rules . Deduction limits and requirements In order to qualify for the charitable donations tax break, you have to itemize your deductions. In addition to charitable donations, common itemized deductions include mortgage interest , state and local taxes up to $10,000, and major medical expenses. Few taxpayers itemize since the standard deduction — an amount that everyone automatically gets to claim against their income — increased substantially in 2018. The standard deduction for taxes due in April 2025 is $14,600 for single tax filers and $29,200 for married joint filers. If your standard deduction is higher than your total itemized deductions, you won't get any benefit from writing off any of your expenses, including charitable donations. Because of these rules, it can be difficult for married couples to deduct any of their charitable contributions. Their total itemized deductions would need to be at least double that of a single filer to eclipse the standard deduction. "The decision about whether to use a standard or itemized deduction is based on which will provide the taxpayer a better benefit, so it may make sense to consider bunching multiple itemized deductions into a single year to obtain a more significant overall deduction, including the tax-deductible charitable contribution," Spivack says. Quick tip: If you receive something in return for making a donation, such as a meal or tickets to a sports game, the tax-deductible portion is your total donation minus the fair market value of the item. The type of donation you make and the charity it goes to determine how much of it will be deductible. In general, the tax deduction for cash contributions is capped at 60% of your adjusted gross income (AGI). Non-cash donations, including property that has increased in value — i.e., capital gain property — are subject to 20%, 30%, and 50% limits. If your total donations for the year exceed your AGI limit, you may be able to carry over the remainder and claim deductions during the next five years. Note: For tax years 2020 and 2021, the IRS temporarily allowed tax filers to claim up to $300 in charitable donations as a deduction without itemizing. That's no longer available. In 2024, a single taxpayer with $100,000 in annual income donated $7,000 to their community church and $1,000 to the Girl Scouts of America for a total of $8,000 in charitable contributions. The standard deduction is $14,600, so the taxpayer needs an additional $6,600 in itemized deductions, such as mortgage interest or state and local taxes, to be able to claim the charitable tax deduction. Say the taxpayer ends up with total itemized deductions of $18,000. That's higher than the standard deduction, so their taxable income becomes $82,000. Record-keeping for tax-deductible donations As with any tax matter, it's important to keep receipts of your charitable donations. Generally, the larger your donation, the more detailed your records should be. For cash donations of less than $250, keep a copy of your bank statement, a canceled check, or a note from the organization to verify the date and size of your gift. For cash or non-cash donations of $250 or more, ask the organization for a receipt showing the estimated value of your donation. Charitable donations of any size for which you are seeking a tax deduction are reported on the tax form Schedule A , under the Gifts to Charity section. For non-cash donations of more than $500, you will need to attach Form 8283 , which asks for details like your original purchase price. For donations above $5,000, you will need a professional to appraise the item. The organization that received your donation will also need to complete and sign part of the tax form. Maximizing your tax benefits If you regularly donate to charity but cannot seem to exceed your standard deduction with gifts to charity and other eligible itemized deductions, you might consider bunching your donations. In this case, you'll make several years' worth of donations in a single year to increase your chances of being able to itemize deductions. Contributing stocks to a donor-advised fund , which lets you choose your recipients over time, can be an effective way to bunch donations and avoid taxes on capital gains. "By donating appreciated securities held for more than one year, a taxpayer is donating up to 20% more than if they had sold the security and written a check," Spivack says. Also, there's one case where you may be able to essentially write off your charitable donations without itemizing your deductions, Spivack says. If you're 70 and a half or older, you can redirect up to $100,000 a year from your IRA to a qualified charity in lieu of taking your required minimum distribution in a move called a qualified charitable distribution, or QCD. Though the mechanics are slightly different from the charitable tax deduction, you still avoid paying income taxes on the amount you donate. FAQs about tax-deductible donations To be tax-deductible, your donations must be received by a 501(c)(3) organization. You will need to provide a receipt for all cash and non-cash donations worth $250 or more. Charitable donations are a type of itemized deduction. If you don't have enough other eligible expenses to itemize this year, you won't be able to claim your gifts to charity. You might consider bunching contributions into a single year in the future so that you have a better chance at eclipsing your standard deduction and being able to itemize. Real estate/mortgages Taxes Retirement planning Small business finances Banking BudgetingI'm A Celebrity star's baby son sends fans wild as he's seen dancing on set in Australia

It’s a good idea to get started investing early, even if you’re moving ahead with a relatively small amount (think $2,000). Indeed, you won’t be able to make a considerable amount with a limited sum, but you will be able to build a nice investing foundation for yourself early on. As your knowledge base builds up after having the opportunity to better learn the ropes in markets, you’ll eventually feel more comfortable picking and choosing your own stocks with future contributions. Indeed, it’s never too early to get started investing. In this piece, we’ll look at two beginner-friendly stocks that could make sense to check out as you begin a journey that may very well lead you to a comfortable retirement. If your bank or brokerage requires you to have a minimum deposited amount (let’s say $10,000 or so) to avoid added service fees, it may make sense to stick with TSX Index or S&P 500 index funds until you’ve got five figures to put to work. However, if there’s no minimum or you can pick up partial shares of companies for little or no commission, the following two picks, I believe, are worth buying or watching closely going into a new year. Fairfax Financial Holdings ( ) is arguably one of the better beginner stocks out there. It’s an insurance and investment holding company run by a brilliant investor named Prem Watsa, a man that some may refer to as Canada’s Warren Buffett. With a diversified book of businesses and an improving insurance operation, Fairfax is a pretty diversified one-stop shop for Canadian investors looking for ways to outdo the TSX Index over many years. In the past five years, shares have more than tripled to a 236% gain. Though past performance may not suggest what’s up ahead, I like the momentum, valuation (8.65 times trailing price to earnings), and dividend (1.01% yield). Of course, Fairfax may not be able to work its way into the TSX 60 Index anytime soon. Either way, I think the name will be a worthy addition if its winning streak continues for another year. At just shy of $2,000 per share, you’ll probably only be able to pick up one share of the stock. However, I think it’s a great place to start if you’re looking to invest under one of the most respected investors in the country. Alphabet ( )( ) is a U.S. tech firm in the Magnificent Seven that I still view as a strong buy for Canadian investors at today’s modest multiples. The and search giant recently impressed Wall Street with its quantum computing chip “breakthrough” named Willow. Even Elon Musk sounded impressed by the innovation. Indeed, Alphabet has many innovations up its sleeves, AI being just one of them. Whether we’re talking about quantum computing innovations, its autonomous vehicle business Waymo, or its Gemini language model, you’re getting so much forward-thinking innovation from the name. For now, Google Search and YouTube are cash cows, but in a few years’ time, look for new money-makers to step up. Either way, the stock’s absurdly cheap at 24.7 times trailing price to earnings, making the $2.2 trillion firm worth looking at even with today’s unfavourable Canadian dollar to U.S. dollar exchange rate.The Latest: UnitedHealthcare shooting suspect contests his extradition back to New York

Luigi Nicholas Mangione, the suspect in the fatal shooting of a healthcare executive in New York City, apparently was living a charmed life: the grandson of a wealthy real estate developer, valedictorian of his elite Baltimore prep school and with degrees from one of the nation's top private universities. Friends at an exclusive co-living space at the edge of touristy Waikiki in Hawaii where the 26-year-old Mangione once lived widely considered him a “great guy,” and pictures on his social media accounts show a fit, smiling, handsome young man on beaches and at parties. Now, investigators in New York and Pennsylvania are working to piece together why Mangione may have diverged from this path to make the violent and radical decision to gun down UnitedHealthcare CEO Brian Thompson in a brazen attack on a Manhattan street. The killing sparked widespread discussions about corporate greed, unfairness in the medical insurance industry and even inspired folk-hero sentiment toward his killer. But Pennsylvania Gov. Josh Shapiro sharply refuted that perception after Mangione's arrest on Monday when a customer at a McDonald's restaurant in Pennsylvania spotted Mangione eating and noticed he resembled the shooting suspect in security-camera photos released by New York police. “In some dark corners, this killer is being hailed as a hero. Hear me on this, he is no hero,” Shapiro said. “The real hero in this story is the person who called 911 at McDonald’s this morning.” Mangione comes from a prominent Maryland family. His grandfather, Nick Mangione, who died in 2008, was a successful real estate developer. One of his best-known projects was Turf Valley Resort, a sprawling luxury retreat and conference center outside Baltimore that he purchased in 1978. The Mangione family also purchased Hayfields Country Club north of Baltimore in 1986. On Monday, Baltimore County police officers blocked off an entrance to the property, which public records link to Luigi Mangione’s parents. Reporters and photographers gathered outside the entrance. The father of 10 children, Nick Mangione prepared his five sons — including Luigi Mangione’s father, Louis Mangione — to help manage the family business, according to a 2003 Washington Post report. Nick Mangione had 37 grandchildren, including Luigi, according to the grandfather's obituary. Luigi Mangione’s grandparents donated to charities through the Mangione Family Foundation, according to a statement from Loyola University commemorating Nick Mangione’s wife’s death in 2023. They donated to various causes, including Catholic organizations, colleges and the arts. One of Luigi Mangione’s cousins is Republican Maryland state legislator Nino Mangione, a spokesman for the lawmaker’s office confirmed. “Our family is shocked and devastated by Luigi’s arrest,” Mangione’s family said in a statement posted on social media by Nino Mangione. “We offer our prayers to the family of Brian Thompson and we ask people to pray for all involved.” Mangione, who was valedictorian of his elite Maryland prep school, earned undergraduate and graduate degrees in computer science in 2020 from the University of Pennsylvania, a university spokesman told The Associated Press. He learned to code in high school and helped start a club at Penn for people interested in gaming and game design, according to a 2018 story in Penn Today, a campus publication. His social media posts suggest he belonged to the fraternity Phi Kappa Psi. They also show him taking part in a 2019 program at Stanford University, and in photos with family and friends at the Jersey Shore and in Hawaii, San Diego, Puerto Rico, and other destinations. The Gilman School, from which Mangione graduated in 2016, is one of Baltimore’s elite prep schools. The children of some of the city’s wealthiest and most prominent residents, including Orioles legend Cal Ripken Jr., have attended the school. Its alumni include sportswriter Frank Deford and former Arizona Gov. Fife Symington. In his valedictory speech, Luigi Mangione described his classmates’ “incredible courage to explore the unknown and try new things.” Mangione took a software programming internship after high school at Maryland-based video game studio Firaxis, where he fixed bugs on the hit strategy game Civilization 6, according to a LinkedIn profile. Firaxis' parent company, Take-Two Interactive, said it would not comment on former employees. He more recently worked at the car-buying website TrueCar, but has not worked there since 2023, the head of the Santa Monica, California-based company confirmed to the AP. From January to June 2022, Mangione lived at Surfbreak, a “co-living” space at the edge of touristy Waikiki in Honolulu. Like other residents of the shared penthouse catering to remote workers, Mangione underwent a background check, said Josiah Ryan, a spokesperson for owner and founder R.J. Martin. “Luigi was just widely considered to be a great guy. There were no complaints,” Ryan said. “There was no sign that might point to these alleged crimes they’re saying he committed.” At Surfbreak, Martin learned Mangione had severe back pain from childhood that interfered with many aspects of his life, including surfing, Ryan said. “He went surfing with R.J. once but it didn’t work out because of his back,” Ryan said, but noted that Mangione and Martin often went together to a rock-climbing gym. Mangione left Surfbreak to get surgery on the mainland, Ryan said, then later returned to Honolulu and rented an apartment. An image posted to a social media account linked to Mangione showed what appeared to be an X-ray of a metal rod and multiple screws inserted into someone's lower spine. Martin stopped hearing from Mangione six months to a year ago. An X account linked to Mangione includes recent posts about the negative impact of smartphones on children; healthy eating and exercise habits; psychological theories; and a quote from Indian philosopher Jiddu Krishnamurti about the dangers of becoming “well-adjusted to a profoundly sick society.” Mangione likely was motivated by his anger at what he called “parasitic” health insurance companies and a disdain for corporate greed, according to a law enforcement bulletin obtained by AP. He wrote that the U.S. has the most expensive healthcare system in the world and that the profits of major corporations continue to rise while “our life expectancy” does not, according to the bulletin, based on a review of the suspect’s handwritten notes and social media posts. He appeared to view the targeted killing of the UnitedHealthcare CEO as a symbolic takedown, asserting in his note that he is the “first to face it with such brutal honesty,” the bulletin said. Mangione called “Unabomber” Ted Kaczynski a “political revolutionary” and may have found inspiration from the man who carried out a series of bombings while railing against modern society and technology, the document said. Associated Press reporters Lea Skene in Baltimore; Jennifer Sinco Kelleher in Honolulu; Maryclaire Dale in Philadelphia; John Seewer in Toledo, Ohio; and Michael Kunzelman in Washington, D.C., contributed to this report. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.LOS ANGELES (AP) — Londynn Jones scored 15 points, making all five of her 3-pointers, and fifth-ranked UCLA stunned No. 1 South Carolina 77-62 on Sunday, ending the Gamecocks’ overall 43-game winning streak and their run of 33 consecutive road victories. The Gamecocks (5-1) lost for the first time since April 2023, when Caitlin Clark and Iowa beat them in the NCAA Tournament national semifinals. Te-Hina Paopao scored 18 points and Tessa Johnson scored 14 for the Gamecocks, whose road winning streak was third-longest in Division I history. It was the first time UCLA took down a No. 1 team in school history, having been 0-20 in such games. The program's previous best wins were over a couple of No. 2s — Oregon in 2019 and Stanford in 2008. Elina Aarnisalo added 13 points as one of five Bruins in double figures. UCLA (5-0) dominated from start to finish, with the Bruins' suffocating defense preventing the Gamecocks from making any sustained scoring runs. South Carolina: The Gamecocks trailed by double-digits at halftime for the first time since Dec. 21, 2021, against Stanford, according to ESPN. Chloe Kitts, who averages a team-leading 14 points, finished the game with 2 points on 1 of 7 shooting. UCLA: The Bruins led 43-22 at halftime. Eight different players scored and contributed to 11-0 and 7-0 runs in the first and second quarters as they shot 52% from the field. The first quarter set the tone for a game in which the Gamecocks never led. They missed their first nine shots and were 4 of 18 from the floor in the quarter. UCLA ran off 11 straight points to take a 20-10 lead into the second quarter. The Bruins dominated the boards, 41-34, and held the Gamecocks well under their scoring average of 80.2 points. South Carolina travels to Florida to meet Iowa State in the Fort Myers Tipoff on Thanksgiving. UCLA travels to the Rainbow Wahine Showdown in Hawaii to play UT Martin on Friday. Get poll alerts and updates on the AP Top 25 all season. Sign up here. AP college basketball: https://apnews.com/hub/ap-top-25-college-basketball-poll and https://apnews.com/hub/college-basketball

Luigi Nicholas Mangione, the suspect in the fatal shooting of a healthcare executive in New York City, apparently was living a charmed life: the grandson of a wealthy real estate developer, valedictorian of his elite Baltimore prep school and with degrees from one of the nation's top private universities. Friends at an exclusive co-living space at the edge of touristy Waikiki in Hawaii where the 26-year-old Mangione once lived widely considered him a “great guy,” and pictures on his social media accounts show a fit, smiling, handsome young man on beaches and at parties.FORT LAUDERDALE, Fla. (AP) — President-elect Donald Trump promised on Tuesday to “vigorously pursue” capital punishment after President Joe Biden commuted the sentences of most people on federal death row partly to stop Trump from pushing forward their executions. Trump criticized Biden’s decision on Monday to change the sentences of 37 of the 40 condemned people to life in prison without parole, arguing that it was senseless and insulted the families of their victims. Biden said converting their punishments to life imprisonment was consistent with the moratorium imposed on federal executions in cases other than terrorism and hate-motivated mass murder. “Joe Biden just commuted the Death Sentence on 37 of the worst killers in our Country,” he wrote on his social media site. “When you hear the acts of each, you won’t believe that he did this. Makes no sense. Relatives and friends are further devastated. They can’t believe this is happening!” Presidents historically have no involvement in dictating or recommending the punishments that federal prosecutors seek for defendants in criminal cases, though Trump has long sought more direct control over the Justice Department's operations. The president-elect wrote that he would direct the department to pursue the death penalty “as soon as I am inaugurated,” but was vague on what specific actions he may take and said they would be in cases of “violent rapists, murderers, and monsters.” He highlighted the cases of two men who were on federal death row for slaying a woman and a girl, had admitted to killing more and had their sentences commuted by Biden. On the campaign trail, Trump often called for expanding the federal death penalty — including for those who kill police officers, those convicted of drug and human trafficking, and migrants who kill U.S. citizens. “Trump has been fairly consistent in wanting to sort of say that he thinks the death penalty is an important tool and he wants to use it,” said Douglas Berman, an expert on sentencing at Ohio State University’s law school. “But whether practically any of that can happen, either under existing law or other laws, is a heavy lift.” Berman said Trump’s statement at this point seems to be just a response to Biden’s commutation. “I’m inclined to think it’s still in sort of more the rhetoric phase. Just, ‘don’t worry. The new sheriff is coming. I like the death penalty,’” he said. Most Americans have historically supported the death penalty for people convicted of murder, according to decades of annual polling by Gallup, but support has declined over the past few decades. About half of Americans were in favor in an October poll, while roughly 7 in 10 Americans backed capital punishment for murderers in 2007. Before Biden's commutation, there were 40 federal death row inmates compared with more than 2,000 who have been sentenced to death by states. “The reality is all of these crimes are typically handled by the states,” Berman said. A question is whether the Trump administration would try to take over some state murder cases, such as those related to drug trafficking or smuggling. He could also attempt to take cases from states that have abolished the death penalty. Berman said Trump's statement, along with some recent actions by states, may present an effort to get the Supreme Court to reconsider a precedent that considers the death penalty disproportionate punishment for rape. “That would literally take decades to unfold. It’s not something that is going to happen overnight,” Berman said. Before one of Trump's rallies on Aug. 20, his prepared remarks released to the media said he would announce he would ask for the death penalty for child rapists and child traffickers. But Trump never delivered the line. One of the men Trump highlighted on Tuesday was ex-Marine Jorge Avila Torrez, who was sentenced to death for killing a sailor in Virginia and later pleaded guilty to the fatal stabbing of an 8-year-old and a 9-year-old girl in a suburban Chicago park several years before. The other man, Thomas Steven Sanders, was sentenced to death for the kidnapping and slaying of a 12-year-old girl in Louisiana, days after shooting the girl's mother in a wildlife park in Arizona. Court records show he admitted to both killings. Some families of victims expressed anger with Biden's decision, but the president had faced pressure from advocacy groups urging him to make it more difficult for Trump to increase the use of capital punishment for federal inmates. The ACLU and the U.S. Conference of Catholic Bishops were some of the groups that applauded the decision. Biden left three federal inmates to face execution. They are Dylann Roof, who carried out the 2015 racist slayings of nine Black members of Mother Emanuel AME Church in Charleston, South Carolina; 2013 Boston Marathon bomber Dzhokhar Tsarnaev ; and Robert Bowers, who fatally shot 11 congregants at Pittsburgh’s Tree of Life Synagogue in 2018 , the deadliest antisemitic attack in U.S history. _______ Associated Press writers Jill Colvin, Michelle L. Price and Eric Tucker contributed to this report.

AP News Summary at 5:00 p.m. EST

Over 4,000 Imran Khan supporters arrested ahead of Islamabad protest

The supply chain management firm Blue Yonder has confirmed a ransomware attack. The scale of the incident has disrupted its services, and the impact has affected many customers. The logistics company has more than 3,000 clients around the world. According to Blue Yonder, the firm says it has “experienced disruptions to its managed services hosted environment”. Subsequent investigation confirmed that it was a ransomware attack.” This continues: “Since learning of the incident, the Blue Yonder team has been working diligently together with external cybersecurity firms to make progress in their recovery process. We have implemented several defensive and forensic protocols,” the announcement reads. “With respect to the Blue Yonder Azure public cloud environment, we are actively monitoring and currently do not see any suspicious activity.” Following the news of the ransomware attack on Blue Yonder, Digital Journal heard from Steve Cobb, CISO at SecurityScorecard . Cobb begins by laying out the background of the incident and the residual impact: “Blue Yonder, a supply chain software provider serving U.S. and U.K. grocery chains, was hit by a ransomware attack. The attack significantly impacted two of the four largest grocery chains in the U.K., causing operational disruptions and forcing these retailers to revert to backup processes. In the U.S., prominent chains, including Kroger and Albertsons, rely on Blue Yonder, underscoring the potential widespread implications of this incident.” Next Cobb considers why retail is often in the sights of cyber-criminals: “The supplier ecosystem is a highly desirable target for ransomware groups. Third-party breach victims are often not aware of an incident until they receive a ransomware note, allowing time for attackers to infiltrate numerous companies without being detected. These organizations house vast amounts of sensitive data, making them prime targets for threat actors and amplifying the attack surface of a single breach.” Cobb also assesses the targets of the attack: “These supply chain attacks typically focus on data security and privacy concerns”. In terms of what retailers can do to try and prevent future attacks of this nature, Cobb recommends: “Organizations should approach these incidents with a broader focus on cyber resiliency, considering how these attacks impact their ability to serve customers and recover business operations. Organizations must consider this a wake-up call to enhance proactive security measures, including their third-party providers.” In addition, Cobb puts forward: “A robust approach includes continuous monitoring and comprehensive visibility across supply chain risk. By implementing these processes, organizations can navigate their supply chain cybersecurity and better equip themselves for attacks.” Dr. Tim Sandle is Digital Journal's Editor-at-Large for science news.Tim specializes in science, technology, environmental, business, and health journalism. He is additionally a practising microbiologist; and an author. He is also interested in history, politics and current affairs.Intuit earnings beat by $0.14, revenue topped estimatesPLANO, Texas — This story was originally published by our content partners at the Dallas Business Journal. You can read the original version here . A global electronics firm plans to markedly expand its manufacturing capabilities at a campus in Plano that’s expected to bring its total employment in the city up to 1,500 people. Taiwan-based Delta Electronics Inc. already has an existing 435,000-square-foot advanced research-and-development and manufacturing facility at 601 Data Dr. in Plano focused on developing smart energy-saving products and solutions for artificial intelligence and cloud data centers, telecom networks, electric vehicle charging and more. The company plans significant new construction in two new phases, according to an announcement from the City of Plano. Delta Electronics has disclosed plans to build a 477,000-square-foot manufacturing facility and a 90,000-square-foot office building in phase two, and a future 477,000-square-foot facility in phase three, both located at Lotus Drive, according to the city announcement. Once the project's complete, the company’s manufacturing facilities in Plano are expected to span close to 1.5 million square feet and employ more than 1,500 employees by 2031, according to the announcement. Construction of the second phase is expected to be completed by 2028 with the third phase to be completed by 2031. The announcement did not specify how many new jobs the plant expansion will involve, how much Delta is investing into the expansion or whether state or local economic incentives are part of the plan to expand in Plano. The announcement called the expansion "a significant milestone in its efforts to attract world-class manufacturing of next-generation technologies." Delta Electronics evaluated sites in multiple states before deciding that Plano would be the ideal location for the expansion, Plano Mayor John Muns said in the announcement. "We understand how critical it can be to choose a location for a company’s operation, especially one of this size, and feel proud that Delta Electronics agrees that Plano offers the resources and partnership to build a lasting relationship," Muns said. Delta Electronics, one of Taiwan’s largest companies, provides power management and internet-connected smart green solutions and products. Founded in 1971, Delta has nearly $13 billion in annual revenues, a workforce of more than 81,000 employees and operations worldwide. Ping Cheng, Delta Electronics’ chairman and CEO, said the expansion in Plano shows the company’s commitment to its U.S. customers and "provides them with ‘Made in the USA’ solutions capable of fostering energy conservation and sustainable development." "From 2010 to 2023, Delta’s high-efficiency products and solutions helped our customers worldwide save over 45.5 billion kWh of electricity, enough to power the state of Texas for nearly one month," Cheng said in a statement. The announcement from the City of Plano also included a statement from the Texas Economic Development & Tourism Office, which is within the Office of the Governor — suggesting that state incentives may be involved in the expansion. "We thank Delta Electronics for choosing to grow in Texas," said Adriana Cruz, executive director of the Texas Economic Development & Tourism Office. "As the most popular location in the U.S. for foreign direct investment over the last two decades and a national leader in advanced manufacturing, we know that Delta Electronics’ expanding facility will continue to thrive here in the Lone Star State. It’s thanks to innovative companies like Delta Electronics that Texas will continue to create good-paying careers in high-demand industries and build the technologies of the future. We congratulate our local and regional economic development partners in Plano on this remarkable win." Plano is the largest city in Collin County, with a population of more than 294,000.