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SOU SBDC March 2016 Newsletter
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The Southern Oregon University Small Business Development Center (SOU SBDC) provides in-depth, confidential, one-on-one guidance to businesses and prospective entrepreneurs at no fee. We can help you gather information and evaluate, plan, and create systems for your business that lead to greater profit, job creation, and job retention.
Call 541.552.8300 for more information
or visit our website at:
101 South Bartlett Street, Room 130
Medford, Oregon 97501
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Hello, all,
Since our fearless leader Jack is off enjoying a vacation on the other side of the world, I just wanted to share a few thoughts from your friendly local office manager.
We are so excited to announce our new professional development series, Fueling Up! This is a great opportunity for our clients to enhance the skills they need to rocket to success. See the event spotlight below!
As we shake off the last remnants of the holiday season and the doldrums of winter are giving way to spring, many clients find themselves reinvigorated and putting extra focus into their businesses. What a great time to schedule an appointment with one of our advisors! Whether it is to plan out this year's marketing strategy, navigate a major change, or explore new financing options, we are here to help. Our calendar is filling fast - give me a call today and I'll get you scheduled.
Don't worry - I made Jack promise to have some pictures to share with us when he returns!
Be well,
Kaylee
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New offering from SOU SBDC
Get ready for Fueling Up!, quarterly workshops for businesses that have been in operation for at least one year. These workshops have been custom designed for the Rogue Valley business community where the area's uniqueness including economic climate, culture, as well as local and tourist demographics, have been taken into account.
The Rogue Valley is fortunate to have local top-notch workshop leaders that genuinely understand the needs of the entrepreneurial community. "Once businesses are up and running," says Stephanie Hoffman, SOU SBDC training manager, "they need fuel and encouragement to keep them moving. Operating a business is very demanding and entrepreneurs need a boost to stay motivated. The workshops are the key pieces for success; topics include funding, marketing, publicity, and financial literacy."
The first workshop is on March 31 from 9am to 12pm at the Higher Education Center in downtown Medford, where Donnie Maclurcan will present "Create a Successful Crowdfunding Campaign." Popular sites like Kickstarter and Indiegogo remain a mystery to many and entrepreneurs want to know how to create a campaign that stands out from the many thousands of others trying to secure funding. Donnie has raised over $100,000 with crowdfunding and he will demonstrate proven strategies that he used during his campaigns.
Check out our offerings and scholarship information: Click Here
There is a $75 cost per workshop or $225 for the series. Through the generous sponsorship of Umpqua Bank, limited scholarships are available.
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What's Best for Taxes?
Sole Proprietor, LLC, or Corporation
When: Thursday, March 17, 2016 Where: RCC/SOU HEC in Medford Time: 12:15 p.m. - 1:15 p.m. Cost: Free
- What are the tax implications for each business entity?
- Choose the best entity to save significant money on taxes
- Smart steps for future business growth
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As an Enrolled Agent, Justin is authorized by the IRS to prepare all tax returns, as well as represent clients before the taxing authorities. Justin educates business owners on which entity would be best for their business, properly setup the entity, and educate the business owner on how to comply with the requirements of the entity
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2016 Fraud Prevention Where: Medford Branch, Jackson County Library (205 S Central) When: Wednesday, March 9th, 2016 Time: 6:00-7:30pm
The Southern Oregon Bookkeeper's Association has partnered with the local Woodard Group, SBDC, SOREDI, and other organizations to bring this presentation by Patricia Gleitsman for Fraud Prevention Month. See the link below for more information and registration. | |
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New Client Orientation
We offer three sessions per month on Thursday mornings. Even if you are currently a client, you are welcome to attend to find out more about what is offered by the SOU SBDC, the Oregon Small Business Development Center Network, plus a lot more.
Click here to select the day and time that works for you. > > > |
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Research Credit Updates
By Nicholas Taylor | MOSS ADAMS LLP
When running a business it's important to make sure that you are aware of changes in legislation and new opportunities that arise as a result. One of the provisions of the PATH Act of 2015 retroactively restored and made permanent the credit for increasing research activities, or the research credit.
The research credit allows taxpayers to claim a general business credit allowed for qualified research expenses paid or incurred for qualified research activities.
Qualified research activities are generally technological in nature and are intended to develop new or improved business units. Qualified research usually has the objective to develop a new or improved function, performance, or reliability/quality. Some research activities, relating to cosmetic, style or other upgrades to existing business units may not qualify. It is always a good idea to consult your CPA before beginning an activity you think may qualify.
Qualified research expenses can be broken into three basic categories: wages, materials and supplies, and 3rd party contractors. These expenses may need to be tracked directly or allocated based on an applicable percentage, so it is important to consult your CPA early on in the process.
Another provision in the PATH Act related to the research credit was specific for eligible small businesses. The provision now allows eligible small businesses to use the research credits to offset their Alternative Minimum Tax (AMT).
There was also a provision in the PATH Act relating to startup small businesses and their available election with the credit. The provision allows startup small businesses to use a portion of the research credit to offset payroll tax instead of income tax.
The research credit can apply to a wide variety of businesses and activities. If you have any questions or think that you may have a research credit opportunity, please contact your Moss Adams professional.
Contact your Moss Adams professional for more information.
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Small Business Resources and Networking Opportunities
BizCenter Dashboard
Have you accessed your dashboard on BizCenter.org?
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Oregon's Business Portal
This "one stop shopping" website has everything a person needs to get started doing business in Oregon.
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SOU SBDC advisors are now
GrowthWheel Certified.
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The RCC SBDC is committed to providing low cost training opportunities for both existing and prospective business owners in Jackson and Josephine Counties.
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CHAMBERS OF COMMERCE GREETERS
Ashland Chamber Greeters
Every Friday 8:15 to 9:30 am
Medford Chamber Greeters
Every Thursday
8 to 9 am
Phoenix & Talent Chamber Greeters
Every third Wednesday
8:30 to 9:30 am
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FREE Oregon OSHA education programs:
Oregon OSHA offers
FREE safety and health education Online and in-person.
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SOREDI's Angels & Entrepreneurs
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The Ashland Chamber
Business Resource Portal:
Open the doorway to the Rogue Valleys Business Resources with the Ashland Chambers Business Resource Portal.
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