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About Smoke signals. (Grand Ronde, Or.) 19??-current | View Entire Issue (March 1, 1999)
4 Smoke Signals Some 1998 tribal income is taxable Many tribal members have asked staff members at Small Business Devel opment how to fill out your income tax return showing the income you re ceived from the Tribe. If you received a 1099 (either "R" or "DIV") from the Tribe, you received income that is taxable. You must report the income from the Tribe on either of these forms. The 1099 R is retirement income that will be entered with other "pensions and annuities." Box number 1 of this form (1099 R) shows the total amount that was received and box number 2a shows the "taxable" amount. For 1998 these amounts should be the same. All the retirement funds you re ceived from the Tribe will be taxable. For those of you who received a "1099 DIV" form, this income is also tax able to the recipient. If you have any questions about completing your 1998 taxes, please call the Tribe's Small Business Development Division at 1-800-422-0232. Time to prepare your income taxes Small Business Development has one computer set up with software and instruction to prepare your own 1998 Income Tax Returns. The SBD staff also provides full service preparation for tribal Elders. It is important to note that the computer lab is often in use for classes, you must call in advance to set up your computer lab appointment. Please call Barbara Lake at 879-2476 or 1-800-422-0232. Free business networking event PTDN: Professional and Technical Diversity Network You are invited to attend the PTDN networking kick-off event on Wednes day, March 10. The event, 'The Diversity of Our Community," will be held at Smith Memorial Center Grand Ballroom, Portland State University, from 5:30-8:30 p.m. You will be able to meet professionals from area firms and organizations dedicated to diversity. There will be prizes and refreshments. The event is sponsored by Hewlett-Packard, Infocus, Intel, and Tektronix. Villamina, Oregon (503) 07G-3110 TRIBAL MEMBER OWNER: Steven L. Bobb, Sr. BUSINESS TYPE AND SER VICES: Design and manufacture businessschool logos, t-shirts, signs. Design electrical signs, including the Tribe's new entryway sign and a new sign for the Health and Well ness Center. Signs and lettering for automobiles and custom paint jobs for show cars, street rods and trucks. HOW LONG IN BUSINESS: Since 1972 HOME-BASED BUSINESS: Yes OTHER JOB AND BUSINESS EXPERIENCE: U.S. Marine Corps, welder, painter, neon and electrical sign designer and installer. REASON FOR STARTING A BUSINESS: "I had something to offer the public and the satisfaction of being independent." CHALLENGING ASPECTS OF OWNING A BUSINESS: A mass of paperwork, keeping money in coming and outgoing. REWARDS OF OWNING A BUSINESS: "Knowing that you pulled it off without losing your butt." """ J ' v - , mm I - s- I m Jr. SOME ELEMENTS OF A SUC CESSFUL BUSINESS: Be realis tic in your expectations. Be able to cope with the public. Have a spouse willing to back you up. WHAT ELSE WOULD YOU LIKE FOLKS TO KNOW ABOUT YOUR BUSINESS? Tm leaning towards retirement and I am devel oping my art and sculpting abilities for marketing." The Tribe's Small Business Development Division is sponsoring a series of seminars to coincide with the Starting a Successful Business class. These Monday night seminars are free and open to the public, anyone who wishes to attend is welcome. Seminars will be held from 5:30 to 8:30 p.m. upstairs in the Molalla Room at the Training Center, located at 28840 Salmon River Highway in Grand Ronde. Monday, March 1 Advertising and promotion that makes money Are you making crafts but having a hard time selling them? Is your business not doing the volume you think it should? Are you suffering from "business under-achievement?" Have you ever wondered where you should advertise your business? What should a print advertisement contain? This is your chance to find out about advertising your products and services. Lawrence Edwards will be presenting information and experi ence about how to advertise and promote your business. Low-cost, high return advertisements and promoters will be the focus of the seminar. Monday, March 15 Business cash flow management and basic bookkeeping Why do businesses fail? Do you have large once per year purchases that sometimes you forget to plan for? Are there times of the year when you have more cash on hand than at other times during the year? Often times businesses have more bills than money to pay them, or so it seems. Cash flow management is the art of planning your revenues to meet your expenses. Doug Iverson of Valley Bookkeeping Services will discuss cash flow management as well as basic bookkeeping. Monday, March 8 Choosing the right business structure for your business Who wants to pay more taxes than necessary? Or risk losing personal assets if your business encounters a dilemma? The form of business structure you choose to operate your business can make all the difference. Tribal Attorney, Deneen Aubertin will discuss the differences between the various types of business structures. Come and learn the difference between a Partnership, an LLC, a C-Corp., a S-Corp., and a Sole Proprietorship, and how choice of business formation can save you money. Monday, March 29 Who's got the money for your Business Plan? Meet the Lenders. Not sure how or where to go to take out a Small Business Loan to get your business started? Come and meet the lenders. Loan officers and representatives from various lending institutions will explain what it takes to make a small business loan. They can tell you about microloan programs and who has the money to loan on business start-ups andor expansions.
