June 2019 Print

Monthly Commentary

Looking outside at the rain, one would not be grabbing golf clubs today.  But one looks one month ahead and see the benefit of the rain - green grass, beautiful flowers as we look into summer months. 

We take pride in living in North Edmonton and look forward to working with the City of Edmonton to host NEBA's Golf Tournament event at Rundle Park Golf Course.  It is one of the many attractions our city has to offer and let's take a moment to enjoy it.

This very first golf tournament will be in support of members of North Edmonton Business Association who are nonprofit organization and/or charities.  One of these organization is the Edmonton Humane Society.  We are pleased to plan an event to fundraise through charity golf tournament, silent auction items, raffle tickets at the business mixer and tradeshow event in support of the Edmonton Humane Society.  

This event will be two part:

Charity Golf Tournament - registration starts at 3:00 and the game starts at 3:30 P.M.  Join us as an individual golfer and meet others in a team of 4 or sign up a team of 4 and enjoy a round of golf. 

We are pleased to have a sponsor whose providing swag bags to all 36 golfers at this event.  Consider being one of the event sponsor or sponsor one of nine holes and raise visibility for your company brand and service offering.  What a great way to network with other sponsors and golfers while letting others become aware of how you and your company can help them and/or their connections.

While golfers are on the golf course, we are pleased to have our second part in the Runde Golf Park Clubhouse. 

With patio surrounding the main floor and upstair level, our summer business mixer and tradeshow event starts at 4:30 PM.  Last time we hosted an event there, both levels were full of businesses showcasing their company while our attendees enjoyed hot and cold food provided during the networking event.   

Both event details are posted on our website, with sponsorship, tradeshow table booking and general regsitration available.  

Looking to support charity while enjoying a round of golf, register today: Swing Into Summer with NEBA Golf Tournament (Game starts at 3:30. Nine Holes, Nine Teams of 4 Available)

Set up your tradeshow table and get ready for the crowd - Book a table today for Swing into Summer - Business Mixer & Tradeshow Event (Starts at 4:30 PM till 7:00 PM.  Presentation and prizes to golfers will start about 5:30 PM - 6:00 PM)

Or Sign up and join us for networking, Bring your business cards!

Edmontonians are known for our spirit and generosity.  Join one of the many individuals and/or companies who have already committed to donating silent auction items in support of charities.   

Contact us today at [email protected] or call Loan Gowers, President at 780.803.1678 and we will be happy to connect with you and collect your donation(s) for the silent auction.  Know someone whose an animal lover? Let them know about this event and support a great cause - NEBA Member: Edmonton Humane Society.

Want to get more details? Talk to us in person at our upcoming NEBA Breakfast Mixer & Networking Event.  Starts at 7:30 AM for networking at Albert's Restaurant, 2nd Floor, Londonderry Mall in private lounge area.   We are pleased to have Jared VanderMeer with Magnolias Consulting Group presenting at 8:10 AM about "Providing Value with Your Digital Presence" Regsiter today and join us next week: [NEBA Breakfast Mixer June 13]

 

Hope you stay dry and warm today.  Can't help but appreciate the water that our grass, garden and flowers are enjoying.  Rain is doing to clear the air and providing moisture.  Hope you have a great weekend enjoying activities available.

Loan Gowers, President

www.neba.ca | 780.803.1678

 

Keisha Darichuk, Executive Assistant

[email protected] | 780.777.6322

 

Back to top

Tips & Ideas for You and Your Business

 

Tips for Avoiding an Audit

by Gurwinder Sekhon, S Group Chartered Professional Accountants

Self-employed business owners already have one of the biggest targets on their backs from the CRA. Constantly being scrutinized, it is for this reason that it pays to take a few extra steps to minimize your chances of getting bitten if your return is selected for audit.

The main goal here is to keep adequate documentation so you can maximize your deductions with confidence.  Nobody is saying to break any laws; we just want to make sure that you get every deduction possible and the best way to do this is to make sure that you are ready for questioning before the tax return is filled out.  In the unlikely chance that you are selected for an audit, being prepared will make the process a quick and painless one.  The Canada Revenue Agency is more concerned with the folks that cannot back up their deductions than the ones who can.

Auto Expenses

  • Mileage – keep a log if possible
  • If no log, use your appointment calendar for proof of your meetings and therefore, your miles driven
  • Can also use total fuel purchased during the year to calculate mileage
  • Charge all fuel purchases to your business account

Advertising

  • Keep invoices from advertisers as proof of your expenses
  • Keep a copy of the ad placed or some samples of any promotional items purchased

Equipment/Assets

  • Keep receipts, proof of purchase as your accountant will need these at year end when preparing your tax return
  • Scan a copy of loan and lease agreements to your computer and email to yourself after deal is signed so you have a permanent electronic copy

Meals

  • Keep a good record of breakfast, lunch and dinner meetings
  • Write who you met with and what business purposes you discussed on the back of your receipt

 

Charge to business checking account

When in doubt, charge any expenses that may be deductible to your business checking account-it is easier to reclassify any purchases as personal as opposed to going through your personal accounts and identifying any business expenses

Reconcile your books or pay someone to do them for you

Unless you possess some formal accounting training, there may be some deductions and opportunities that are missed if you handle all of your own bookkeeping duties

 

If selected for audit, will need to usually supply:

  • Bank Statements
  • General Ledger
  • Balance Sheet
  • Income Statement
  • Tax Returns
  • Other Supporting Documents (Leases, Loans, Amortization Schedules, etc.)

All included in year-end tax package from S Group Chartered Professional Accountants - we’re not worried about an audit!!

Pay your taxes!!

It sounds like a no-brainer, but one of the easiest ways to get on the CRA’s radar is to ignore your tax liabilities, once they discover that you are non-compliant, they have an open window to start digging further into your file

Neat stack vs. Box of Crap

If you are selected for audit, showing up with a neat stack of papers that are already sorted and organized will make your audit process a less stressful one

If you do get a notice, call a professional!! 

Please contact S Group CPAs at 780-702-1083 or [email protected] before calling the CRA and discussing your situation.  We have special contacts and can make the whole process a lot less stressful for you.

Again, if you make sure that all of your deductions are properly documented when you file your tax return, you will find that being selected for an audit is not a problem at all.  You can be confident that your deductions will stick and that the CRA will spend minimal time digging through your books and records before they move on to the next audit.

Back to top

UPCOMING EVENTS

Future Meetings

NEBA Breakfast Mixer & Networking Event - with Guest Speaker: Jared VanderMeer

June 13, 2019
7:30 AM to 9:00 AM

Albert's Family Restaurant (2nd Floor, Londonderry Mall)
137 Ave & 66 St, 2nd Floor, 
Edmonton, AB 
http://albertsfamilyrestaurants.com/

Building Relationship one face to face conversation at a time. Networking, Connect.

Read More  Register Now

NEBA AGM (Annual General Meeting)

June 19, 2019
7:00 PM to 8:00 PM

Good Buddy Restaurants (VIP Private Room)
1018, 9499 - 137 Ave
Edmonton, 
http://Www.goodbuddychinese.com

Annual General Meeting

Read More  Register Now

Swing Into Summer II - Golf Tournament

July 10, 2019
3:30 PM to 6:00 PM

Rundle Golf Park Clubhouse 
2902 118 Ave
Edmonton,

Be a part of the very first NEBA Golf Tournament in support of charity.

Read More  Register Now

Swing Into Summer II - Business Mixer & Tradeshow

July 10, 2019
4:30 PM to 7:00 PM

Rundle Golf Park Clubhouse 
2902 118 Ave
Edmonton , 
https://www.edmonton.ca/activities_parks_recreation/golf_courses/rundle-park-golf-course.aspx

Business Mixer, Tradeshow Table, Networking, Silent Auction, Raffle Tickets

Read More  Register Now

 

Looking to explore ways to network and get your name out for rest of 2019?

Talk to us today about opportunities available by working with NEBA: a) membership, b) sponsorship, c) advertising on our website or in our e-newsletter or d) event sponsor.   

(Connect with us on LinkedIn, Follow us on Twitter, Like us on Facebook Page)

Loan Gowers, President

www.neba.ca | 780.803.1678

Keisha Darichuk, Executive Assistant

[email protected] | 780.777.6322

Back to top

President's Report

 

 

 

We welcome members and non-members to join us on Wednesday June 19 starting at 7:00 PM for NEBA's Annual General Meeting.   

We had a delay in processing our financials due to ownership change at our Treasurer's company.  We are pleased to update that all financials have been completed and we look forward to sharing developments and updates with you.  

We entered the growth stage end of 2017 and made a strategic investment to add administrative staff to our team with retirement of our key founding directors.   Key personnel have been the determining success factor for NEBA since inception.  With these retirement and a changing team, we worked on finding administrative support while rebuilding a team of Directors who could continue to contribute to NEBA's mission statement and deliver service to members and sponsors. 

Join us on June 19, meet NEBA's new Treasurer:  Gurwinder Sekhon with S Group Chartered Professional Accountants and Directors who are serving on the Board.

We are looking to add Directors to NEBA's Board of Directors.  What is involved and how do directors help? 

It's best explained by sharing what one of our director does -  Lina Lytviak, NEORA. 

Lina has over 25 years experience as an entrepreneur and added a second business to her service offering (NEORA).   She first joined NEBA on the Executive Committee team as a volunteer for a few years and elected to Board of Directors.   As a member of NEBA for the last four years, she has attended many of NEBA's event, participate in tradeshows and invited her connections and colleagues to attend.    She likes and shares our event information, makes an effort to reach out and welcome new members to NEBA, and recommends speakers and valuable inputs to meetings.  She consistently talks to her new and existing connections about her experience with NEBA and the benefit of joining NEBA as a member.   Linahas been extremely successful in adding new members to NEBA, getting companies to participate as a tradeshow vendor and/or getting her connections out to attend our events.   She brings valuable skills and experience to the NEBA team and has become a key personnel to the Board. 

If you are someone like Lina and would like to join the Executive Committee team, we would love to talk to you!  Please note must be a current member with NEBA and in good standing to apply to serve on NEBA Board.  

See you on Wed June 19 at Good Buddy Restaurants, VIP Private Room.   As always, if you have any specific questions or inquiries, please reach out to us at [email protected] 

Loan Gowers, President

www.neba.ca | 780.803.1678

 

Tickets

$5.00 NEBA Member (includes light appetizers)

$25.00 Non-Member (includes light appetizers)

Back to top

Association Sponsors