Merchants of Oak Ridge
Meeting Minutes from September 13, 2018
Attending: Phillip Hanks, David Bowman, Ramilya Siegel, Madelin Busch, George McClellan, Alan Abrams, Bruce Frankel, Dave Kiddy, Angel Fuller Todd Harman, Trisha Pegg, John Carr, Ann Schneider, Mickey Tingen, Randy Floss, Pat Fehlig, Patti Stokes, Laura Reneer, and member and guest from BB&T.
The meeting was opened by President Phillip Hanks.
Minutes from the August meeting will be forwarded by Secretary Brandy Owen.
The financial reporting system is being converted from QB to Xero online accounting by new Treasurer Trisha Pegg.
Great Pumpkin Event update from Angel Fuller
This year’s event will be held on October 27th from 3 – 5 PM at Oak Ridge Commons. Set up by 2:30 PM was requested due to early arriving Trick or Treaters
Table sign up is available on the MOR website. Additional spaces will be available for non-profit organizations and non-MOR members
Sponsorships have all been sold
For ongoing see updates on MOR’s Facebook page
Guest Speaker Keith Hiatt, CPA from Breslow Starling strongly recommended consultation with your tax adviser now or in the near future due to the many changes for individuals and businesses in the tax codes for 2018. Keith’s comments and suggestions included:
Review 2017 returns
Standard deductions are higher for more people
Withholding requirements have been reduced
Changes in depreciation (less) and write offs (more) for companies
New positive provisions for LLC’s and S Corporations
A team of advisors was highly recommended for all small business owners
Emphasized the importance of Estate Planning
Sales and Use Taxes will likely be the cause of most audits in NC for 2018 returns
The importance of business and tax planning was emphasized
The Educational Moment was presented by Bruce Frankel and his topic was “Traditional Approach to Making Effective Business Decisions.” Bruce stressed the importance of using the numbers and a spreadsheet versus decision making by gut feel. See the attached handout for highlights.
Member introductions were made and 90% (my estimate) were completed within the requested 30 seconds.
Guests at the meeting were from BB&T and our speaker Keith Hiatt of Breslow Starling.
Business on Tap
September’s Business on Tap was hosted by Andy Michaels at Oak Ridge Physical Therapy and celebrating their 10th year of business. Thank you and congratulations to Andy and his team.
October’s Business on Tap will be October 9th at the Oak Ridge Room hosted by Madeline Busch and Next Step Ministries.
The Scholarship Committee has selected its first recipient of the new scholarship for a cadet at Oak Ridge Military Academy. The winner will be announced and recognized on September 29th at the military academy as part of their homecoming festivities. Many cadets families will be in attendance and MOR members are encouraged to attend.
Testimonials were given to:
Tim DeStasio and Southern Comfort Consulting and Services for outstanding service to several MOR members air conditioning units during the many weeks of high temperatures this summer.
Bruce Frankel and The Mindful Traveler for planning and execution for several MOR members recent vacations.
Shane Beal and Euro House for excellent customer service.
The Town of Oak Ridge 20th Anniversary Lawn Party has been rescheduled from September 15th to September 22nd due to the of forecasted Hurricane Florence coming to town. Scheduled events include a pie baking contest and a beard contest.
Kwanis Golf for Kids Tournament on September 23rd at Pine Knolls Golf Course
Oak Ridge Military Academy Golf Tournament on September 30th at Pine Knolls Golf Course
Meeting minutes submitted by Dave Kiddy for Brandy Owen
September 13, 2018