events April 2009

Member Events & More

Legislative News

20 or more RMA members joined over 200 business leaders and lobbyist in a rally on Tuesday April 14th to oppose the Union-backed "card check" legislation that is before Congress. The rally was supported by more than 60 business organization throughout the Commonwealth. 

The purpose of the rally was to show Senators Warner and Webb that the Business Community in the Commonwealth opposes Card Check. Senator Webb was a co-patron of the card check legislation last year but has not signed on to the 2009 bill.  Senator Warner continues to stay on the fence and is considered to be a pivotal vote when the legislation reaches the Senate.

If you could not attend yesterday's rally you can show your opposition by emailing senators Warner and Webb and ask them to vote no to Card Check. 

For session update, visit: http://retailmerchants.com/newsletter-retail-advocate/index.asp.

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Retail Marketing Expo—
Marketing For Economic Recovery

August 4, 2009 Greater Richmond Convention Center

Title Sponsor

Exhibiting at Retail Marketing Expo?

Free preview for your company in Retail Partners newsletter!

There’s no cost to promote your Show Special in the 3rd Quarter Retail Partners.  Send a brief paragraph with your contact info to Pat Vitsky no later than May 29.  Advertising discounts are also available for Exhibitors.  Email patricia@retailmerchants.com or call 804-662-5500. For exhibitor info, contact Jenny Price, jprice@retailmerchants.com or call 804-662-5500.

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Retailers4Life 2009 is in Full Swing!

Participate by offering Organ Donor Sign-Up cards in your business location.  Encourage employees and customers to consider being an organ, eye and tissue donor thereby potentially saving 7 lives and enhancing more than 50 other lives.  Signing up as an organ donor is easy:

1. Complete a simple 9 question sign-up card and mail it, or
2. Go online to www.save7lives.org  and complete the same 9 questions in a secure environment. 

• Approximately 250 locations are participating in Central Virginia. 
• A Virginian dies every other day waiting for a life-saving transplant.
• Your participation will make a difference and save lives!

Go to www.RetailMerchants.com, click on the Retailers4Life bar-coded heart and learn more about this life-saving campaign or contact Preston Perrin at 804-662-5500.

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Join "Girlfriend We Gotta Talk!" at the Southern Women’s Show!

Mary Foley and Susie Galvez, Chief Talking Officers of "Girlfriend We Gotta Talk!" radio show on WLEE 990 AM will be broadcasting LIVE from the Southern Women’s Show at the Richmond Raceway Complex on Friday, April 17th from 11 am to 1 pm and again on Sunday, April 19th from 3:00 to 3:30 pm for their LIVE weekly.

Stop by to win free door prizes, get a fun shopping sticker, or just say hi!  Plus, on Sunday they will announce their unofficial Cutest, Yummiest, and Funniest Awards of the show.  Find out more at www.GirlfriendWeGottaTalk.com

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SHOP Local, BUY Local:
RMA/RTD Special for RMA Members

Deadline: Friday April 20

Join us on a full page of RMA member ads geared to bring in customers and encourage local commerce!  You receive two black &white ads—one on the Shop local Buy local page on Sunday April 26 and your 2nd ad on any day of your choosing within 6 days.  Size: 3.56 x 3”. Cost for both ads—$550.  To make a reservation, or if you have questions:  contact Doris Ann Kane 649-6291 or local RTD Ad rep.

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Sales Tax Holiday May 25–31:
Hurricane Preparedness Equipment

During this seven-day period, purchases of items designated by the Department of Taxation as hurricane preparedness equipment, including portable generators, will be exempt from the Virginia sales tax. Portable generators must be priced at $1,000 or less, and other eligible items must be priced at $60 or less for each item. For additional Sales Tax Holiday information, click here.

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Growth Coach “Third Friday’s” New Location

Starting this Friday, April 17, the Third Friday Forums (Mark James & Connie Maier) will be held from noon to 1:30 p.m. at The Marquee, a beautifully restored 1939 Art Deco building, 3015 Cutshaw Ave, Richmond. You are invited to RSVP for a bit of learning (featuring Harry Garmon speaking on “White Collar Crime and Your Business,” a lot of networking, and a tasty lunch—no charge!  To register or for more information, call 601-2482.  Please bring a non-perishable food item to support the Central Virginia Foodbank.

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"You've received an e-Card!"

Good news? Happy Birthday? Get-Well-Soon? Maybe, but e-greeting cards, e-gift cards, and online holiday messages are increasingly being used by scammers and cyber criminals to spread viruses and other vicious malware. Many e-Cards are rigged with links that take unsuspecting recipients to bogus websites that can infest systems or compromise user identities and personal information. If you believe you've been the victim of an e-Card scam, report it to your computer consultant, computer help desk, or your Internet Service Provider (ISP) immediately. Once the scam has been verified, file a report with the Federal Trade Commission on their website at https://www.ftccomplaintassistant.gov.

E-card Do's and Don't’s

—Don't click on links in emails announcing an e-Card or on e-Card
attachments. If it's a legitimate e-Card, the sender may be disappointed
that you didn't get it, but weigh that against the risk of your computer
getting infected if you do click.

—Don't reply to emails or pop-up messages offering quick fixes for
viruses. Legitimate computer security companies don't sell their
products by spam email or by using pop-ups.

—Don't cut and paste the link from the message into your Internet
browser. Phishers can make links look like they go to one place, but
that actually send you to a different site.

—Do delete random emails that ask you to confirm or divulge personal
information.

—Do use antivirus and anti-spyware software and update them regularly.
Some scam emails contain software that can harm your computer or track
your activities on the Internet without your knowledge. Look for
antivirus software that recognizes current viruses as well as older
ones, that can effectively reverse the damage if your computer does get
infected, and that updates itself automatically.

— Do use a two-way software firewall. It helps make your computer less
visible on the Internet and blocks communications from unauthorized
sources. It's especially important to run a firewall if you have a
broadband connection. Operating systems (like Windows or Mac OSX) or
browsers (like Internet Explorer or Firefox) also offer free software
"patches" to close holes in the system that cyber criminals could
exploit. Do apply the patches.

• More information
• Video
• Quiz

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Message from the IRS: American Recovery & Reinvestment Act of 2009 Helps Small Businesses

Congress approved and the President signed new economic recovery legislation, the American Recovery and Reinvestment Act of 2009 (ARRA) two months ago. Here are some key highlights for small businesses:

Net Operating Loss Carryback

Small businesses with deductions exceeding their income in 2008 can use a new net operating loss tax provision in ARRA to get a refund of taxes paid over the past five years instead of the usual two.

To accommodate the change in tax law, the IRS has updated Publication 536, Net Operating Losses (NOLs) for Individuals, Estates and Trusts, as well as the instructions for Form 1045 and Form 1139, which small businesses will use to take advantage of the carryback provision.

An IRS news release and question-and-answer document have more information on the net operating loss carryback provision.

Technical information is contained in Revenue Procedure 2009-19.

Section 179 Deduction

A qualifying taxpayer can choose to treat the cost of certain property as an expense and deduct it in the year the property is placed in service instead of depreciating it over several years. This property is frequently referred to as section 179 property.

Under ARRA, qualifying businesses can continue to expense up to $250,000 of section 179 property for tax years beginning in 2009. Without ARRA, the 2009 expensing limit for section 179 property would have been $133,000. The $250,000 amount provided under the new law is reduced if the cost of all section 179 property placed in service by the taxpayer during the tax year exceeds $800,000.

The new law does not alter the section 179 limitation imposed on sport utility vehicles, which have an expense limit of $25,000.

More Help for Small Business

The Recovery Act also includes the following business-related provisions:

Reduction of Estimated Tax Payments: Normally, small businesses have to pay 110 percent of their previous year’s taxes in estimated taxes. The Recovery Act permits small businesses to reduce their estimated payments to 90 percent of the previous year’s taxes.

Extension of Bonus Depreciation Deductions Through 2009: Bonus depreciation is extended through 2009, allowing businesses to take a larger tax deduction within the first year of a property’s purchase.

Capital Gains Tax Break for Investment in Small Business: Investors in small business who hold their investments for five years can exclude from taxation 75 percent of their capital gains.

Other Provisions for Employers and Employees

Increased Transportation Subsidy: Employer-provided benefits for transit and parking are up in 2009 (see related article).

Up to $2,400 in Unemployment Benefits Tax Free in 2009: Individuals should check their tax withholding.

COBRA: Health Insurance Continuation Subsidy: The IRS has extensive guidance for employers, including an updated Form 941, as well as information for qualifying individuals.

First-Time Homebuyer Credit Expands: Homebuyers who purchase in 2009 can get a credit of up to $8,000 with no payback requirement.

Enhanced Credits for Tax Years 2009, 2010:  Details available on the earned income tax credit, additional child tax credit and American Opportunity Credit, a new higher education benefit.

Payroll Checks Increased This Spring: The Making Work Pay Tax Credit will mean $400 to $800 for many Americans. The IRS has issued new withholding tables for employers (see related article on withholding).

Money Back for New Vehicle Purchases: Taxpayers who buy certain new vehicles in 2009 can deduct the state and local sales taxes they paid. IRS

• The IRS’s American Recovery and Reinvestment Act of 2009 Web site has more information and links to each of these provisions.
• To get the latest information about ARRA and other IRS news and information, subscribe to e-News for Small Businesses.