Charitable Giving Information

Archive for August, 2008

Tax Planning Template

Are you great at organizing? Can you create a memorable party atmosphere without necessarily having to be the life of the party? Are you searching for a way to make extra money; or considering, going into business for yourself? If, you answered yes to these questions, there is a perfect home based start up business for you.

The Concept

Home based party planning businesses are great for well organized extroverted individuals, who know how to put these skills to good use. And, as more people look to outsource activities that they no longer have time to complete, the industry is growing. There are typically elements of a good party that the average person forgets, such as contracts with the photographer, disc jockey or band, and caterer, that ensures things turn out as planned. However, it takes a skilled and flexible person to turn into a problem solver when surprises do arise. As a party planner, you can choose to tailor your business around particular types of parties, like wedding receptions and business parties; or, you can choose to offer a variety of party planning services.

Start-Up Costs

Like other start up businesses, your first and most important costs will revolve around any necessary business licenses and insurance. Other initial and on-going costs will be due mainly to marketing strategies. Aside from these expenses, a home-based party planning business has few other initial costs.

Marketing

One unique way to debut your party planning services is to throw a free party. Although many resources suggest throwing this free party for friends and neighbors, consider taking your debut party a step further by throwing it for a local charity, non-profit, or even for select businesses. Depending on your start up capital you may even decide to throw more than one of these parties. Another great marketing tool is a portfolio of party themes, ideas, and decorations. This will really allow you to showcase your creativity and the ideas that will set you apart from your competitors. As a party planner, you need to have a website that highlights your creativity without being too busy. Yet, there is no substitute for old fashioned marketing. So, remember to pass out business cards and place ads in local papers.

Take-away Tips

To be an effective party planner you need to familiarize yourself with many of the food, beverages, and entertainment vendors in your area. It is important to know their pricing; whether you can workout more favorable terms, and the quality of their service. Create contracts templates for the service providers that you may need to hire. Contracts ensure that you and your client are receiving the specific services that you are not only expecting, but also paying for. Before you plan a party for your first client, decide how you will charge for your service. Some party planners charge either, a flat flee, by the service, or by the hour. And, as always, keep good financial records to be able to claim the most tax deductions possible.

About the Author:

MommyEmpire.com is dedicated to helping work at home moms succeed with their home business. Be sure to check us out on the Web for additional information on starting a party planning business and other home business topics!

Article Source: ArticlesBase.com – Start a Party Planning Business

772 Pray that success will not come any faster than you are able to endure it. Part 2

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Tax Planning Services Wellington

The International Union of Painters and Allied Trades (IUPAT) District Council 46 has represented workers in their Union for decades and for the past few years have continued to participate as active members of the community through various outreach programs.

For the past few years, IUPAT has urged its members to be more involved in the community with the Member to Remember campaign. District Council 46, located at 130 Toro Road in the Finch and Keele (North York, Ontario) area, has recently taken part at the Firgrove Community Learning Centre’s Back to School Program. The event which occurred on September 8, 2009, included a free BBQ to all its attendees. As part of the Back to School Back-Pack Program, District Council 46 and their contributing contractors and suppliers gave away 1,000 backpacks with school supplies to kids from JK to Grade 12. Leftover bags were given to other communities in need. Furthermore, the Painter’s Union handed out five individual $1,000 scholarships along with donating $500 to Firgrove’s Women’s Group. The event was attended by the Firgrove community, community leaders, and IUPAT representatives. Toronto City Councillor, Mr. Gord Perks, also attended the event in representation of Toronto City Council along with officials from MP Judy Sgro’s office. Thanks to the generous donations from participating IUPAT DC 46 members, contractors, community leaders and volunteers, the event was a success in the community.

IUPAT’s goal is to service both our members and our community. We intend to continue playing active roles within the Ontario community through various projects, charitable donations, and programs much like the Back to School Program.

IUPAT District Council 46 consists of over 7,000 union members throughout Ontario, employed in different trades such as:

• Painting and decorating
• Drywall finishing and plastering
• Industrial manufacturing
• Glaziers and glassworkers
• Exterior Insulated Finishes
• Workers employed with hazardous materials

District Council 46 and the affiliated Local Unions offer numerous services to their members, including:

• Offering medical, dental, and life insurance benefits
• Negotiating collective bargaining agreements
• Providing apprenticeship training
• Providing retirement pension plans, and
• Democracy in the workplace

Moreover, DC 46 represents union workers outside of construction. This includes workers involved in moulding manufacturing as well as manufacturing facilities of windows, doors, signs, bus shelters, and billboards.

We intend to continue partnerships with affiliated trade councils such as:

• Provincial Building and Construction Trades Council of Ontario
• Central Ontario Building Trades Council
• Toronto York District Labour Council
• Hamilton-Brantford Building & Construction Trades Council
• Waterloo, Wellington, Dufferin, Grey Building & Construction Trades Council
• Sault Ste. Marie Ontario Building and Construction Trades Council
• Northeastern Ontario Building and Construction Trades Council (Sudbury)
• Essex and Kent Counties Building & Construction Trades Council
• Northwestern Ontario Building Trades Council (Thunder Bay)
• Sarnia Building Trades Council
• Ottawa and Hull Building and Construction Trades Council
• Quinte St.Lawrence Building Trades Council
• Ontario Federation of Labour

In addition to these trade councils, the Ontario Council of Painters (OCP) of the IUPAT is also in partnership with the following employer organizations:

• Ontario Painting Contractors Association
• Interior Systems Contractors Association
• Acoustical Association of Ontario
• Architectural Glass and Metal Contractors Association
• Electrical Power Systems Contractors Association
• Residential Painting Contractors of Ontario

Membership requires an administrative processing fee that will also pay for monthly dues up to 6 months in advance. Keep in mind that this payment is tax deductible at the end of the year. Anyone who is interested in joining IUPAT Ontario should contact us at 1-800-668-1823, their Local Union office, or visit IUPAT for more details.

About the Author:

IUPAT is a painter’s Unions offering services and council for painters around Ontario, Canada. For more information, visit IUPAT.on.ca.

Article Source: ArticlesBase.com – IUPAT DC 46 – Ontario Painters Union Give Back To Community In Back To School Program

Tax Planning And Tax Management

Many work hard and meet with success, as they batter through storms, handle market swings and keep consumers satisfied. You achieved all this for yourself and your family. But have you spent one minute and thought about what would happen to your business when you are not there? If you haven’t, then it is high time you gave it a serious thought. So here are some simple business succession and estate tax planning strategies.

According to a market survey, 25 percent of the family business shareholders who are senior citizens have not thought of any estate succession planning other than writing a will. They have not bothered to conduct any research. If you are one of them then wake up, succession planning for business involves more than just deciding whom you intend to give your assets to, after your death.

Basically, succession planning is like a road map for successors, heirs and partners to follow when you are no more or when you are unable to handle the business issues due to disability or old age. This plan can include the business stock distribution, assets and life insurance distribution details. It can also include debt retirement services, buying and selling agreements between heirs and partners, division of responsibility allotted to successors and any other aspects that would be related to the business. The plan can also establish the value of the business.

So where should you start from?

A succession planning strategy must clearly explain your objectives and goals as well as your company’s present financial resources and the current human resources. It should also explain your stand in the company and the details of the stock you hold. You can also mention the person whom you feel can manage the business once you are out of the picture. Calculate if you have enough assets to pay estate tax so as to balance the estate and keep the business and the monetary resources you need to reach your financial goal. Don’t forget to clarify each goal and you should be open to communicate and share your vision with partners, key players, and family.

How to develop a sound succession plan?

. A succession plan should be flexible- Your plan must be easy to amend and modify as business, family and health situations are dynamic.

. Select the right individual to handle the company in your absence- Select a person, whom you find capable to navigate through the minefield. This is necessary if you have more than one qualified successor. Distribution of money and assets among the siblings sometimes can be really discordant.

. Knowledge of federal estate tax- Economic Growth and Tax Relief Recognition Act of 2001 attempted to eliminate or reduce the federal estate tax transfer system, but instead it created a tax system that features repeal, relief and reappearance. From 2004, the gift tax exemption was freezed at $1 million. Thus, a businessman can easily pass on more assets after his death than during his lifetime.

Learn about various exemptions, deductions, exclusions- You can reduce the estate tax by adapting the annual gift tax exclusion in which you can relax the gift tax to the tune of $11,000 per year.

About the Author:

Sacramento CPA Firm Murray and Young offer Tax Representation by a former IRS auditor. For useful articles and tips by Sacramento Estate Tax Planners, please visit our website at http://www.april15.com.

Article Source: ArticlesBase.com – Business Succession And Estate Tax Planning Strategies

GROCO Accounting – Top 10 Year End Tax Planning Tips

Charity Organizations California

Question: Is Poker Games Involves No Buy-ins Legal in California?

I am planing a social event for a non-profit organization, and we want to do a Poker Tournament with Texas Hold ‘Em (dealer is rotated by everyone).

I am charging each person a $15 entry-fee to cover the foods, chairs and tables rental, and prizes I am giving out. Even for the people who do not wish to play poker but just to social will pay this fee.

We are planning to play three rounds of Texas Hold ‘Em, and there is NO buy-in for any round of the game. Each player will be given the same amount of chips before each round starts, and the winners can accumulate points and receieve non-cash prizes no greater than value $200. Other small prizes will also be given out to non-winners randomly.

We are holding this event at a friend’s garage, so we are capping the maximum participant at 40. We are NOT looking to generate net income but only to break-even.

So, do we need to go through California gambling registration or make it a charity event to make this event legal?

Answer: Poker is legal everywhere in California. As long as the host will not have any monetary gain from the game it is legal.
You can go play poker for money right in front of a police station and it is legal as long as the person organizing the game does not profit from the people playing( except the winnings from the game)

4/8 Disney's California Food & Wine Festival - Chef Guy Fieri

Charitable Trust Document

Question: I want to open a charitable trust. I need some suggestions on the procedure to start the trust in india.?

Can please someone give me the document or provide me the link to have a look at the details on how to open a charitable trust? I am planning to open a trust in india. Specifically in karnataka if it is state specific.

Answer: You have the full procedure at http://www.karmayog.com/formation.htm .
Good luck.

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