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The O’Fallon Chamber of Commerce would like to let our members and businesses in our community know that our organization has no intention on merging with any other Chamber of Commerce in our area.
Although the membership of the St. Charles and St. Peters Chambers have chosen to merge in order to “increase efficiencies”, the O’Fallon Chamber has been running an efficient member centric organization for years. The O’Fallon Chamber serves the largest city in St. Charles County, O’Fallon, with over 500 members, 67% of which are located in O’Fallon; 91% in St. Charles County and does so while adding benefits and keeping its membership investment at levels that are attainable for businesses of all budgets.
The O’Fallon Chamber has not raised its membership rates since 2004, something we are very proud of. The organization has been able to accomplish this by remaining member centered. “We understand how hard our businesses work for their dollars, so when they choose to invest those dollars with our organization it is our duty to serve them to the fullest while being as frugal as possible with the money they have invested with us”, says Erin Williams, President/CEO of the O’Fallon Chamber of Commerce. The O’Fallon Chamber supplements its budget with fundraisers throughout the year in order to keep services at their highest without asking for a dues increase.
The O’Fallon Chamber continues to add benefits and services to its roster in order to serve members in the areas of networking, education and advocacy. In 2011 the O’Fallon Chamber invested in a software system that allows members to promote themselves in a variety of ways. In 2012 the Chamber is looking forward to the addition of a new promotion that will undoubtedly increase membership participation at networking events, as well as the addition of more free educational events to help foster the continuing education for our small business owners and managers. The O’Fallon Chamber will also begin a Legislative Awareness committee in 2012 so that our business community is always educated on the issues that are affecting their businesses and the opportunities to be proactive assuring a climate of economic vitality.
Earlier press releases from the merged organization state that the “decline in membership over the past several years was a major driving force for the merger.” The O’Fallon Chamber of Commerce has continued to grow. Since June of 2010 membership has increased by 13%. The O’Fallon Chamber has added 129 new members so far in 2011.
“The membership of the St. Peters and St. Charles Chambers have spoken and voted to merge their organizations and we fully respect that. What we oppose at the O’Fallon Chamber is the name, Greater St. Charles County Chamber of Commerce. I believe that the name misrepresents the merged organization to the business community. They have merged two of the eight Chambers of Commerce in our county, not even close to a majority, but still feel that it is okay to refer to the organization as a county-wide Chamber of Commerce,” said Williams. “I am disappointed that the leadership of the merged organization never reached out to the other Chambers in the county, which represent over 1500 businesses to even discuss our concerns.”
Williams goes on to say, “the Chambers in our county have had a great working relationship in the past, and now I worry about that relationship with the obvious disrespect that has been shown to the majority of the Chambers of Commerce here.”
by Erin Williams on Thursday December 22, 2011
by Erin Williams on Thursday December 01, 2011
This is a letter that was signed by all of the O'Fallon Chamber Board members in attendance at our November 8th Board of Directors meeting and sent to the Boards of the St. Peters and St. Charles Chambers asking them to reconsider thier naming choice of thier merged chamber.
On behalf of the O’Fallon Chamber of Commerce I strongly urge you to reconsider the name choice of your merged St. Charles and St. Peters Chambers of Commerce.
It is the belief of our Board of Directors as well as the Boards of the other Six Chambers of Commerce in St. Charles County that the name under consideration, Greater St. Charles County Chamber of Commerce, is misleading to our businesses, since your merged organizations only represent two communities, not all of St. Charles County. From the information in the press release dated November 1st, the expected size of your combined organization will be more than 900; however the other Six Chambers not involved in your merger represent over 1,500 businesses.
As for the statement in the November 1st St. Charles Patch article, “It's possible that the six other chambers of commerce in St. Charles County might seek to join the Greater St. Charles County Chamber, said Aleece Vogt, board chair for St. Charles Chamber. However, the boards have not yet been approached by anyone, she said”; I can assure you that the O’Fallon Chamber of Commerce has no plans to agree to this merger. The O’Fallon Chamber continues to thrive and grow even with the current economic climate. In the past 18 months our membership has grown by 13%, our fundraisers have exceeded budgeted expectations, and our membership participation continues to grow. All of these great accomplishments are the fruition of a hard working Board of Directors and staff whose number one goal is serving the best interest of our membership and ensuring that their needs are being met.
I would look forward to an opportunity to discuss this more at any time. Again, I, on behalf of the O’Fallon Chamber of Commerce, strongly urge you to reconsider the naming choice of your new organization.
Thank you,
Erin Williams
President/CEO
O’Fallon Chamber of Commerce
It is the belief of our Board of Directors as well as the Boards of the other Six Chambers of Commerce in St. Charles County that the name under consideration, Greater St. Charles County Chamber of Commerce, is misleading to our businesses, since your merged organizations only represent two communities, not all of St. Charles County. From the information in the press release dated November 1st, the expected size of your combined organization will be more than 900; however the other Six Chambers not involved in your merger represent over 1,500 businesses.
As for the statement in the November 1st St. Charles Patch article, “It's possible that the six other chambers of commerce in St. Charles County might seek to join the Greater St. Charles County Chamber, said Aleece Vogt, board chair for St. Charles Chamber. However, the boards have not yet been approached by anyone, she said”; I can assure you that the O’Fallon Chamber of Commerce has no plans to agree to this merger. The O’Fallon Chamber continues to thrive and grow even with the current economic climate. In the past 18 months our membership has grown by 13%, our fundraisers have exceeded budgeted expectations, and our membership participation continues to grow. All of these great accomplishments are the fruition of a hard working Board of Directors and staff whose number one goal is serving the best interest of our membership and ensuring that their needs are being met.
I would look forward to an opportunity to discuss this more at any time. Again, I, on behalf of the O’Fallon Chamber of Commerce, strongly urge you to reconsider the naming choice of your new organization.
Thank you,
Erin Williams
President/CEO
O’Fallon Chamber of Commerce
by Erin Williams on Wednesday November 23, 2011
The O’Fallon Chamber of Commerce is proud to announce its award winners for 2011. The Chamber sought out nominations for Small Business, Business, and Large Business of the Year as well as the first ever Sue Proost O’Fallon Chamber Person of the Year award from its membership.
“The selection committee had a lot of discussion when choosing from the nominees in each category,” said Erin Williams, Chamber President/CEO, “we are blessed to be in a community filled with businesses that are dedicated to O’Fallon and to our Chamber.”
Autotech Auto Center will be awarded as the 2011 Small Business of the Year. Autotech is known for the customer service provided by their staff and the knowledge of owner Greg Kinder. Both Greg and Barb Kinder are staples of the O’Fallon Chamber of Commerce, helping to foster growth of their fellow chamber members in leads groups as well as volunteering as Ambassadors and on the Trivia committee.
F&M Bank and Trust Company will be honored as the 2011 Business of the Year because of the company’s dedication to the O’Fallon community as well as the Chamber of Commerce. F&M Bank and Trust relocated in O’Fallon in 2010 and has continued to grow since then. Employees of the bank are known to wear blue jeans on Fridays as an effort to raise money for their Adopt a Family program at Christmas time. “It seems like F&M Bank is always looking to help someone or some organization, their community spirit is evident in each one of their employees,” said Williams. F&M Bank and Trust representatives are on hand at each event the Chamber hosts, whether it is a ribbon cutting, a new member orientation, or a fundraiser, F&M has a presence.
The 2011 Large Business of the Year is being awarded to Delmar Gardens. Since coming to O’Fallon, not only has the company offered only the highest quality of life to its residents, but has only enhanced the quality of life of the residents of O’Fallon. Each year the company, free of charge offers an Independence Day spectacular with fireworks, food and fun for the whole family. They actively pursue ways to help out the not-for-profit community.
“When the selection committee met, the one thing that we kept asking was, ‘is this a company that we can hold up and say to our other members, this is what a good business does?’, I feel that each of the award winners are exactly that, businesses that our members can look to emulate,” Williams said.
The Sue Proost O’Fallon Chamber Person of the Year is being awarded to Mark Crank of Marcos Productions. This award is named after former Chairwoman of the Board who passed away in 2010. Sue Proost was known for her leadership, dedication and volunteerism to the entire O’Fallon community, but especially the Chamber of Commerce. These are qualities that Crank exemplifies. Crank is the current chair of the Ambassadors committee which has continued to grow in numbers and participation under his leadership. He is also the co-chair of the Trivia committee, a driving force in the leads group program and a friendly face to our new members and guests at all Chamber functions. Crank volunteers his time to Old Newsboy Day, Friends of Kids with Cancer, and the Missouri Association of Fairs and Festivals.
The Chamber will be honoring all of the winners at the December 13th general membership meeting luncheon to be held at the Christy Banquet Center. To make your reservations, please call the Chamber office at (636) 240-1818 or online at www.ofallonchamber.org.
“The selection committee had a lot of discussion when choosing from the nominees in each category,” said Erin Williams, Chamber President/CEO, “we are blessed to be in a community filled with businesses that are dedicated to O’Fallon and to our Chamber.”
Autotech Auto Center will be awarded as the 2011 Small Business of the Year. Autotech is known for the customer service provided by their staff and the knowledge of owner Greg Kinder. Both Greg and Barb Kinder are staples of the O’Fallon Chamber of Commerce, helping to foster growth of their fellow chamber members in leads groups as well as volunteering as Ambassadors and on the Trivia committee.
F&M Bank and Trust Company will be honored as the 2011 Business of the Year because of the company’s dedication to the O’Fallon community as well as the Chamber of Commerce. F&M Bank and Trust relocated in O’Fallon in 2010 and has continued to grow since then. Employees of the bank are known to wear blue jeans on Fridays as an effort to raise money for their Adopt a Family program at Christmas time. “It seems like F&M Bank is always looking to help someone or some organization, their community spirit is evident in each one of their employees,” said Williams. F&M Bank and Trust representatives are on hand at each event the Chamber hosts, whether it is a ribbon cutting, a new member orientation, or a fundraiser, F&M has a presence.
The 2011 Large Business of the Year is being awarded to Delmar Gardens. Since coming to O’Fallon, not only has the company offered only the highest quality of life to its residents, but has only enhanced the quality of life of the residents of O’Fallon. Each year the company, free of charge offers an Independence Day spectacular with fireworks, food and fun for the whole family. They actively pursue ways to help out the not-for-profit community.
“When the selection committee met, the one thing that we kept asking was, ‘is this a company that we can hold up and say to our other members, this is what a good business does?’, I feel that each of the award winners are exactly that, businesses that our members can look to emulate,” Williams said.
The Sue Proost O’Fallon Chamber Person of the Year is being awarded to Mark Crank of Marcos Productions. This award is named after former Chairwoman of the Board who passed away in 2010. Sue Proost was known for her leadership, dedication and volunteerism to the entire O’Fallon community, but especially the Chamber of Commerce. These are qualities that Crank exemplifies. Crank is the current chair of the Ambassadors committee which has continued to grow in numbers and participation under his leadership. He is also the co-chair of the Trivia committee, a driving force in the leads group program and a friendly face to our new members and guests at all Chamber functions. Crank volunteers his time to Old Newsboy Day, Friends of Kids with Cancer, and the Missouri Association of Fairs and Festivals.
The Chamber will be honoring all of the winners at the December 13th general membership meeting luncheon to be held at the Christy Banquet Center. To make your reservations, please call the Chamber office at (636) 240-1818 or online at www.ofallonchamber.org.
by Erin Williams on Friday April 29, 2011
By: Shanna Palans, Wharf Pharmacy & Firecracker Run Chair
There’s a 10K a 5K,
And a 1 mile run,
Finishing over home plate
Is so much fun!
On the 4th of July,
For the 27th time,
The Firecracker Run will be held,
Volunteers make it shine!
We raised over $11,000 last year,
And are looking for someone to donate the beer.
750 runners are expected,
Come out and give them a cheer.
We need you to run, walk,
Or push the stroller along,
Family fun is the key,
There is even music and song.
Don’t run? Don’t walk?
We’ll still take your money,
Cause we sure aren’t proud,
We need sponsors honey!
We need water, ice,
Fruit and bagels too,
So many opportunities,
We’ll even take that energy goo!
There’s also an expo,
It’s covered in case of rain,
You can expose all those folks,
To your charm and brain.
Fancy tech shirts,
Are new this year,
For only $5,
You can get that cool gear.
So will the committee,
Members please rise,
These folks are gonna stalk you,
With no thought to their pride.
There’s a 10K a 5K,
And a 1 mile run,
Finishing over home plate
Is so much fun!
On the 4th of July,
For the 27th time,
The Firecracker Run will be held,
Volunteers make it shine!
We raised over $11,000 last year,
And are looking for someone to donate the beer.
750 runners are expected,
Come out and give them a cheer.
We need you to run, walk,
Or push the stroller along,
Family fun is the key,
There is even music and song.
Don’t run? Don’t walk?
We’ll still take your money,
Cause we sure aren’t proud,
We need sponsors honey!
We need water, ice,
Fruit and bagels too,
So many opportunities,
We’ll even take that energy goo!
There’s also an expo,
It’s covered in case of rain,
You can expose all those folks,
To your charm and brain.
Fancy tech shirts,
Are new this year,
For only $5,
You can get that cool gear.
So will the committee,
Members please rise,
These folks are gonna stalk you,
With no thought to their pride.
by Erin Williams on Thursday March 10, 2011
One of the greatest parts of working in the Chamber industry is the relationships that we are able to build with other Chamber leaders to help our businesses. The Troy Chamber of Commerce has recently invited members of the O'Fallon Chamber to join them on a trip to Washington D.C. so that our members can witness thier legislators at work, visit with them, and attend informative sessions designed for business.
The trip begins on June 12th with a welcome reception at 7:00 p.m. The following day participants are treated to four sessions including:
- 2011 Legislative Overview by the U.S. Chamber of Commerce
- Congressional Insight by the National Association of Manufacturers
- Navigating Federal Programs by the Small Business Administration
- Special meetings per your request or free time to tour Washingtong D.C.
On Tuesday, June 14th the day will be spent walking Capitol Hill, visiting members of Congress, visiting the alleries of the House and the Senate to observe, and attending the meeings you find important for your business.
Registration for this trip is only $250 for Chamber Members which includes all planned agenda items. Air Travel and Lodging accomodations will need to be made on your own.
Please contact Erin at the Chamber Office, 636-240-1818, for more information.
The trip begins on June 12th with a welcome reception at 7:00 p.m. The following day participants are treated to four sessions including:
- 2011 Legislative Overview by the U.S. Chamber of Commerce
- Congressional Insight by the National Association of Manufacturers
- Navigating Federal Programs by the Small Business Administration
- Special meetings per your request or free time to tour Washingtong D.C.
On Tuesday, June 14th the day will be spent walking Capitol Hill, visiting members of Congress, visiting the alleries of the House and the Senate to observe, and attending the meeings you find important for your business.
Registration for this trip is only $250 for Chamber Members which includes all planned agenda items. Air Travel and Lodging accomodations will need to be made on your own.
Please contact Erin at the Chamber Office, 636-240-1818, for more information.
by Erin Williams on Thursday February 24, 2011
It is almost finally Friday, and yes, like everyone else, I'm ready for it. However, I have to say as busy as this week was for your staff at the O'Fallon Chamber, we've had a great week.
I'll start with Saturday night and the 15th Annual Art, Wine & Brew gala. We hosted close to 300 people to taste some of the best food in O'Fallon served by 11 of our member restaurants- YUM! 10 wonderfully talented artists had booths. We also welcomed six wineries to offer samples to our guests, O'Fallon Brewery, Major Brands, and last but certainly not least, Krey Distributing, who offered samples of four great AB products. I would like to make a special thank you to Krey Distributing and Kelly Nation. For several years Krey has been generous enough to be our main sponsor of this great event. Without thier support, this would be a very different event than what our guests were treated to on Saturday.
CoverTrax kept the dancefloor the place to be from 9:00-Midnight, when we had to turn on the lights- officer's orders :). Everyone that I've talked to had a great time. I thank all of you for coming out for this great event!
That was just one day of the week! On Tuesday, the Chamber hosted our monthly membership meeting and began the meeting with Member Shout-Outs. I wasn't quite anticipating half of the room standing up when I made the agenda that day, but it was absolutely awesome to hear from that many members doing business with each other and getting such great results. These folks have built the relationships that we are always preaching about and it is paying off big time! We'll defnately continue our Member Shout-Outs each month at our membership meetings... next time I'll allow for more time.
Yesterday Fox's Pizza Den, on Technology Drive, held a ribbon cutting and treated all of those in attendance to pizza, hot wings, and toasted ravioli. Niel, one of the owners, assures me that they have one of the best taco pizza's around (my personal favorite). I'll be headed there for lunch soon to try it out!
Tomorrow we're hosting a website training for this new site. I'm excited that so many of our members are taking the time to learn about this new benefit of the O'Fallon Chamber.
So, yes, TGIF, and I'll hope that next week is just as awesome as this one has been.
Have a great day!
Erin
I'll start with Saturday night and the 15th Annual Art, Wine & Brew gala. We hosted close to 300 people to taste some of the best food in O'Fallon served by 11 of our member restaurants- YUM! 10 wonderfully talented artists had booths. We also welcomed six wineries to offer samples to our guests, O'Fallon Brewery, Major Brands, and last but certainly not least, Krey Distributing, who offered samples of four great AB products. I would like to make a special thank you to Krey Distributing and Kelly Nation. For several years Krey has been generous enough to be our main sponsor of this great event. Without thier support, this would be a very different event than what our guests were treated to on Saturday.
CoverTrax kept the dancefloor the place to be from 9:00-Midnight, when we had to turn on the lights- officer's orders :). Everyone that I've talked to had a great time. I thank all of you for coming out for this great event!
That was just one day of the week! On Tuesday, the Chamber hosted our monthly membership meeting and began the meeting with Member Shout-Outs. I wasn't quite anticipating half of the room standing up when I made the agenda that day, but it was absolutely awesome to hear from that many members doing business with each other and getting such great results. These folks have built the relationships that we are always preaching about and it is paying off big time! We'll defnately continue our Member Shout-Outs each month at our membership meetings... next time I'll allow for more time.
Yesterday Fox's Pizza Den, on Technology Drive, held a ribbon cutting and treated all of those in attendance to pizza, hot wings, and toasted ravioli. Niel, one of the owners, assures me that they have one of the best taco pizza's around (my personal favorite). I'll be headed there for lunch soon to try it out!
Tomorrow we're hosting a website training for this new site. I'm excited that so many of our members are taking the time to learn about this new benefit of the O'Fallon Chamber.
So, yes, TGIF, and I'll hope that next week is just as awesome as this one has been.
Have a great day!
Erin
by Erin Williams on Tuesday February 15, 2011
This organization is near and dear to my heart. I would LOVE to see the O'Fallon Jaycees growing and making a difference in our community!
February 8, 2011
Dear O’Fallon Business Owner / Manager:
The O’Fallon chapter of the Junior Chamber of Commerce is currently expanding in the O’Fallon area.
For those of you who may not be familiar with the Junior Chamber of Commerce (Jaycees), the organization was started in St. Louis in 1920 as a way to provide opportunities for young men to develop personal and leadership skills through service to others. The Jaycees later expanded to include women, reflecting the growing influence and leadership of women in America.
For the past 90 years, Junior Chamber members have been a force for good in America and around the world. Jaycees helped establish AirMail services in America with Jaycee Charles Lindbergh, and have raised millions of dollars for causes such as the Muscular Dystrophy Association and the March of Dimes. They have built parks, playgrounds, hospitals, ball fields, and housing for the elderly while conducting service and support programs in thousands of communities nationwide.
In 1969, the O’Fallon Jaycees erected the Omer J. Dames War Memorial, one of the first in the nation to honor U.S. soldiers killed in the Vietnam War.
We encourage you to sponsor an employee (between the age of 18-40) to be a member at the organization’s annual rate of $65. If you have the resources to sponsor more than one, we encourage you to do so. Your employee will network with other individuals in O’Fallon and throughout the St. Louis region, gain valuable leadership skills, and give back to the community through community service. The organization also offers social opportunities for those who are seeking new friendships.
The O’Fallon Jaycees are holding an informational meeting at JJ’s Restarurant located at 200 Ft. Zumwalt Square in O’Fallon on Thursday, February 17, from 7:00pm-9:00pm. We want to extend an invitation for you to send an employee.
Thank you for your consideration. We look forward to meeting the future business and community leaders of O’Fallon.
Sincerely,
Scott Tate
Region 5 Director (St. Louis Region), Missouri Jaycees
Erin Williams
President & CEO, O’Fallon Chamber of Commerce
More Jaycee Information
February 8, 2011
Dear O’Fallon Business Owner / Manager:
The O’Fallon chapter of the Junior Chamber of Commerce is currently expanding in the O’Fallon area.
For those of you who may not be familiar with the Junior Chamber of Commerce (Jaycees), the organization was started in St. Louis in 1920 as a way to provide opportunities for young men to develop personal and leadership skills through service to others. The Jaycees later expanded to include women, reflecting the growing influence and leadership of women in America.
For the past 90 years, Junior Chamber members have been a force for good in America and around the world. Jaycees helped establish AirMail services in America with Jaycee Charles Lindbergh, and have raised millions of dollars for causes such as the Muscular Dystrophy Association and the March of Dimes. They have built parks, playgrounds, hospitals, ball fields, and housing for the elderly while conducting service and support programs in thousands of communities nationwide.
In 1969, the O’Fallon Jaycees erected the Omer J. Dames War Memorial, one of the first in the nation to honor U.S. soldiers killed in the Vietnam War.
We encourage you to sponsor an employee (between the age of 18-40) to be a member at the organization’s annual rate of $65. If you have the resources to sponsor more than one, we encourage you to do so. Your employee will network with other individuals in O’Fallon and throughout the St. Louis region, gain valuable leadership skills, and give back to the community through community service. The organization also offers social opportunities for those who are seeking new friendships.
The O’Fallon Jaycees are holding an informational meeting at JJ’s Restarurant located at 200 Ft. Zumwalt Square in O’Fallon on Thursday, February 17, from 7:00pm-9:00pm. We want to extend an invitation for you to send an employee.
Thank you for your consideration. We look forward to meeting the future business and community leaders of O’Fallon.
Sincerely,
Scott Tate
Region 5 Director (St. Louis Region), Missouri Jaycees
Erin Williams
President & CEO, O’Fallon Chamber of Commerce
More Jaycee Information
by Erin Williams on Thursday January 13, 2011
One of our members, Mike Favazza, Favazza & Associates, sent me this email. I thought it was great information that all of our members should know. I hope you find it informative as well.
Erin
Erin
________________________________________________________________________________
I'm a firm believer in EVERY business accepting credit cards as much as possible. If your profit margins are affected by a 3% merchant fee, then you must do something first about your margins!
It really is short-sighted thinking to not allow your customers to pay you in the easiest way possible for them.
But today's email is actually not about "selling" you on accepting these cards -- I actually need to warn the vast majority of my clients who do, in fact, take these cards that your ducks better be in a row (your debits & credits, that is)!
Here's what I mean ...
[By the way, I suggest you forward this to your biz owner friends, to make sure they have things covered.]
Michael Favazza's
"Real World" Business Strategy
1099 Reporting Starts Now -- Are You Ready?
With all of the Congressional action at the end of the year, some people thought that Congress did away with the infamous "1099 reporting" requirement in the Affordable Care and Patient Protection Act.
Wrong.
Starting January 2011 (that would be NOW), all 3rd -party payer groups will start reporting transactions to the IRS. That means if you accept credit cards, Pay-Pal (even on Ebay), or any other form of 3rd party collection-type card, you're on the list to get a Form 1099-K in 2012 from the IRS.
And you'd better be ready for that right about now. It's no secret that the reason for these requirements is to create powerful audit and enforcement tools, and find "hidden" sources of tax revenue for the government.
[The only exceptions for this reporting requirement are if you A) Have less than 200 of these transactions in the year or B) Make less than $20,000 gross in the year from them. In this case, you're exempt.]
Given the IRS' track record, it's likely that this will be a bit of a mess at first. But the worse news is that if you happen to get a form with a wrong amount, it'll be up to you to report to the IRS how much it should have been.
So, here are the first three things you need to do THIS month.
1) Make sure your revenue is populating properly into QuickBooks or your other accounting software
2) Reconcile your merchant account with your reported sales, on a regular basis
3) Consider setting up two bank accounts for your business: one for merchant sales only and one for your regular checking account activities, (You can then transfer money from the merchant account to your checking account. This little trick will make it much easier to reconcile.)
But the most important thing you can do is to make sure that your accountant is on top of this for you.
In case they're not, find one that is. [ahem.]
+++++++++++++++++++++++++++++++++
Special Early 2011 Email Offer
$29.00 Off Any Tax Service
Special Gift Certificate
Print This Email and bring it to our office--and receive an instant $29 credit towards any tax or financial service for 2011
Expires February 11th, 2011
Not valid with any other offer
+++++++++++++++++++++++++++++++++
I hope this helps.
Warmly,
Michael Favazza
I'm a firm believer in EVERY business accepting credit cards as much as possible. If your profit margins are affected by a 3% merchant fee, then you must do something first about your margins!
It really is short-sighted thinking to not allow your customers to pay you in the easiest way possible for them.
But today's email is actually not about "selling" you on accepting these cards -- I actually need to warn the vast majority of my clients who do, in fact, take these cards that your ducks better be in a row (your debits & credits, that is)!
Here's what I mean ...
[By the way, I suggest you forward this to your biz owner friends, to make sure they have things covered.]
Michael Favazza's
"Real World" Business Strategy
1099 Reporting Starts Now -- Are You Ready?
With all of the Congressional action at the end of the year, some people thought that Congress did away with the infamous "1099 reporting" requirement in the Affordable Care and Patient Protection Act.
Wrong.
Starting January 2011 (that would be NOW), all 3rd -party payer groups will start reporting transactions to the IRS. That means if you accept credit cards, Pay-Pal (even on Ebay), or any other form of 3rd party collection-type card, you're on the list to get a Form 1099-K in 2012 from the IRS.
And you'd better be ready for that right about now. It's no secret that the reason for these requirements is to create powerful audit and enforcement tools, and find "hidden" sources of tax revenue for the government.
[The only exceptions for this reporting requirement are if you A) Have less than 200 of these transactions in the year or B) Make less than $20,000 gross in the year from them. In this case, you're exempt.]
Given the IRS' track record, it's likely that this will be a bit of a mess at first. But the worse news is that if you happen to get a form with a wrong amount, it'll be up to you to report to the IRS how much it should have been.
So, here are the first three things you need to do THIS month.
1) Make sure your revenue is populating properly into QuickBooks or your other accounting software
2) Reconcile your merchant account with your reported sales, on a regular basis
3) Consider setting up two bank accounts for your business: one for merchant sales only and one for your regular checking account activities, (You can then transfer money from the merchant account to your checking account. This little trick will make it much easier to reconcile.)
But the most important thing you can do is to make sure that your accountant is on top of this for you.
In case they're not, find one that is. [ahem.]
+++++++++++++++++++++++++++++++++
Special Early 2011 Email Offer
$29.00 Off Any Tax Service
Special Gift Certificate
Print This Email and bring it to our office--and receive an instant $29 credit towards any tax or financial service for 2011
Expires February 11th, 2011
Not valid with any other offer
+++++++++++++++++++++++++++++++++
I hope this helps.
Warmly,
Michael Favazza
by Erin Williams on Wednesday January 05, 2011
The Chamber is pleased to welcome Sara Henderson to the Chamber team! Sara began working with the Chamber on Tuesday, January 4th 2011 as the Communications Director. Sara has a resume full of experience as a graphic designer as well as community involvement. We are confident that she is going to be a great asset to our team!
by Erin Williams on Tuesday December 28, 2010
Welcome to the O'Fallon Chamber's new website. We're excited about the benefits that this new site will give our members and our residents. Please be patient with us for a bit, as we are still figuring out all of the bells and whistles!
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