A20 WEDNESDAY, MARCH 30, 2016, TRI-CITY NEWS
WWW.TRICITYNEWS.COM
Chamber News
April 2016
Strengthening Local Businesses
Michael Hind, CEO
The business world is in a constant state of evolution. The economy is shifting, technology is rapidly changing and innovations in energy are emerging. How do you keep your business relevant with the constant developments? The Chamber hosts a number of events each year to help businesses navigate these changes. This year, the Chamber is excited to announce the 2nd annual Economic Summit on May 10, 2016, providing business owners and entrepreneurs the opportunity to learn from the experience and expertise of industry leaders. The Economic Summit will feature a keynote address from Dr. Sherry Cooper, Chief Economist of Dominion Lending Centres, followed by the returning CEO and Technology panels, as well as an Energy panel. National and International acclaimed leaders will take the stage to speak on issues including leading your business through uncertain times, facing changes in the workforce and creating opportunities through new technologies.
Upcoming Events Find out more about upcoming events and register online at www.tricitieschamber.com. Please register at least two days prior to all events. April 1 | Art of Leadership for Women April 5 | [Lunch & Learn] Business Basics – What Every Business Person Should Know April 7 | Morning Schmooze April 12 | CHAMBER 101 April 13 | Chamber Toastmasters Open House April 14-15 | Canadian Internet Marketing Conference April 19 | [Lunch & Learn] Digital Marketing 101 April 21 | 12@12 Manufacturing Sector April 26 | KICKSTART @ Micky’s Public House April 26 | CHAMBER 101 April 27 | Mayors Coffee Talk – Mayor Greg Moore Wednesdays | Toastmasters Save the Date Economic Summit | May 10 Annual Golf Classic | June 8
Dr. Sherry Cooper Chief Economist, Dominion Lending World class organizations will be represented at the Centres Economic Summit including Envision Financial, Finger Food Studios and Resource Works among many others. The Economic Summit will run from 7:30 - 11:30 AM on Tuesday, May 10 at the Hard Rock Casino Vancouver. For more information and to purchase tickets visit www.tricitieschamber.com.
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W H AT D R I V E S YO U
20
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CHARTERED PROFESSIONAL ACCOUNTANT
16
JUNE
2016
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O8
TICKETS AT: WWW.TRICITIESCHAMBER.COM
TRI-CITY NEWS WEDNESDAY, MARCH 30, 2016, A21
WWW.TRICITYNEWS.COM
Chamber News
April 2016
Feature Member
Welcome to our NEW MEMBERS April Gamboa, CPA April Gamboa, CPA www.amgcpa.ca 778.887.0894 Coquitlam
Who: Pinnacle Wealth Brokers What: Your local private market investment expert Where: Tri-Cities, www.pinnaclewealth.ca
Island Sunset Tan Trish Higgo www.islandsunsettan.com 604.944.8265 Coquitlam
MaidPro April Gamboa www.maidpro.ca 604.670.8776 Coquitlam
Pinnacle Wealth Brokers is a Canadian based investment services company offering a range of private wealth management investments, independent advice and years of industry experience. They offer comprehensive tools and support to help clients reach the peak of financial success.
Autus Blue Investments Julian Evelyn www.fergusonmoving.com 604.922.2212 Coquitlam
Village of Anmore Juli Kolby www.anmore.com 604.469.9877 Anmore
Montridge Financial Group Ltd Preet Pall www.montridge.com 604.682.1603 Ext: 234 Vancouver
Action Glass Inc. Brad Johnston www.actionglassbc.com 604.525.5365 Burnaby Schooley Mitchell of Vancouver Bjorn Frohnsdorf www.schooleymitchell.com/bjornf 604.942.0555 Coquitlam
COLDWELL BANKER Lola Oduwole www.lolaoduwole.com 604.365.8818 Coquitlam
He represents some of the top private real estate & private equity firms in North America, offering his clients security and risk-adjusted returns on their investments. Many of these firms offer targeted, fixed and/or preferred returns ranging from 7-15% per annum and are all eligible for registered contributions or transfers (RRSP’s, TFSA’s, RESP’s, LIRA’s) as well as monthly cash distributions.
Shelley Tourangeau Shelley Tourangeau 778.955.7653 Port Coquitlam
SmallBiz Web Design Jenny Zhang www.smallbizwebdesign.ca 604.657.0298 Coquitlam
SSJ Business Consultants Sam Janmohamed 604.464.7291 www.ssjconsulting.com Coquitlam
Dinakis Mediterranean Grill Ltd Malik Malikzada www.dinakis.com 604.472.3333 Port Coquitlam
Ryan Henry Personal Real Estate Corporation Ryan Henry www.ryanhenry.com 604.365.8818 Coquitlam
Pacific Chartered Advisors LLP Scott Park www.pacificaccounting.ca 604.773.8182 Coquitlam Canadian Cancer Society Brooke Sherwood www.cancer.ca 604.215.5205 Coquitlam
Klint Rodgers is a Registered Dealing Representative with the BC Securities Commission. As a Branch Manager, Klint is responsible for educating Vancouverites on Private Markets. He has been in the industry for over 7 years and has found his niche in real estate investment firms. Being a wealth broker provides Klint the opportunity to educate both his clients and the community at large to the exempt market (aka the private market), who Pinnacle Wealth Brokers is and where to find great quality products.
If you’re looking to increase your financial wealth upon retirement, give Klint a call!
Klint Rodgers www.pinnaclewealth.ca 604 368 3454
Managing experience in small, medium and multi-million dollar businesses • Business Advisory • Accounting & Assurance • Personal & Corporate Tax and Planning • Estate & Trust Planning • CRA Remittances
Don Kim
Don Kim CPA, CGA
Accounting, Assurance & Tax #205-1120 Austin Ave. Coquitlam, BC. V3K 3P5
COQUITLAM, BC
Tri-Cities
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Helping Our Businesses Thrive Coquitlam Business Connects provides businesses of all sizes and types with support, resources and advice to help you succeed. Contact us to find out how we can help your business. T: 604-927-3905 | E: economicdevelopment@coquitlam.ca
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A22 WEDNESDAY, MARCH 30, 2016, TRI-CITY NEWS
April 2016
WWW.TRICITYNEWS.COM
Chamber News Expert Article
5 Ways to Reduce Income Tax Ways to reduce income tax is a hot topic this time of year. Eavesdropping on conversations between business owners will yield a multitude of suggestions but there is nothing better than the tried and true methods – they are tried and true for a reason. 1. Save receipts - This may seem logical but is often overlooked. A credit card statement is not sufficient evidence of the expense for many reasons. A purchase at a gas station may be for gas but could also be cigarettes or lottery tickets, which are not deductible. If you are a GST registrant, evidence that GST has been paid on the purchase is also necessary.
income’ and ‘reasonable in the circumstance’. Quite vague I agree, but at the same time somewhat unbinding. When giving gift certificates keep track of who they have been given to. If given to employees, the gift cards may be considered a taxable benefit.
Diane Skidmore D. Skidmore & Co CGA www.skidmorecpa.ca
2. Designated business bank account and credit card – When payment is made out of the business account or with the business credit card it is unlikely the expense will be forgotten. If you use your personal account or credit card, it is easy to forget the expense was business related. If you are using your own account, write a note on the receipt so you don’t forget it was for business.
5. Keep current – This is hands down one of the most important things to do in your business. It will also mitigate the chance of being flagged by CRA and other government agencies.
Tax rules are constantly changing. Just as with health, it is important to review your tax situation at least once a year with your tax professional. Ask about recent tax changes and recent tax cases that could impact your tax plan. Adapting to changes is the key to business success.
3. Tracking mileage – An auto log really is the only way to be certain the percentage claimed is reasonable. It only takes a moment to track, especially using tools such as Magical Miles available on itunes. In the event of an audit, you’ll find that you will sleep easier when you have evidence to support your claims. 4. Gifts – Who doesn’t love receiving a gift from a business associate? Giving is a great way to promote your business and strengthen business relationships. Just be reasonable. The basic criteria for deducting a business expense is that it must be ‘necessary to produce business
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