HCC NEWSLETTER 7673

Document Sample
HCC NEWSLETTER 7673 Powered By Docstoc
					                                                                                         Greater Hammonton
                                                                                         Chamber of Commerce
                                                                                         PO Box 554, 10 S. Egg Harbor Rd.
                                                                                         Hammonton, NJ 08037
                                                                                         www.HammontonNJ.us
                                                                                         info@HammontonNJ.us
                                                                                         609-561-9080
                                                                                         Newsletter Design-Concepts Advertising


APRIL 2012                           N E W S L E T T E R                                 Volume 2 - Issue 5

                                                                     Board Meetings - Second Thursday of the month
                                                                             at Annata Wine Bar - 12 Noon

                 Next Board of Directors Meeting is Thurs. April 12 - 12 Noon at Annata Wine Bar
                                          Upcoming Meetings: May 10 and June 14
                                                                              • Wine from Canal’s BottleStop
                                                                              • Beer and Ale from Kramer Beverage
                                                                              • Assortment of Cheese from
                                                                                Bagliani’s Market
                                                                              • Sweet Treats from Sassy Sweets
                                                                              • Carving and Pasta Stations
                                                                              • Plus Live Music
                                                                                Featuring a special musical performance
                                                                                from the cast
                                                                                of CSP’s
                                                                                Production of...

                                                                                      TED       Tickets are $50.00.
                                                                                  LIMI ER       Please contact the
                                                                                       B
                                                                                   NUM KETS     Chamber Office at
                                                                                      IC
                                                                                  OF T ABLE!     609 561-9080 for
                                                                                       L
                                                                                  AVAI       tickets and information


        Wed., April 25, 2012 • 7:00pm
                                                                                 This Great Evening is Graciously Sponsored by

       Tomasello’s Winery, 225 N. White Horse Pike, Hammonton, NJ

 Special Thanks To Canal’s Bottlestop, Kramer Beverage Co., Bagliani’s Market & Sassy Sweets | NJ STATE ABC #12006670



Chamber honors Pignatelli, New Jersey Manufacturers, Landolfi, Marinella

W
        e are proud to announce that our annual Installation and Awards Banquet will be held on Tuesday, May 15, 2012 at
        the Villa Manor on Hay Street in Winslow. This evening celebrates the area’s economic vibrancy by honoring new and
        established businesses, as well as those in special award categories. 2012 honorees include Sam Pignatelli -
Nice Going Award; New Jersey Manufacturers Insurance and Banking – Industry of the Year; and the Landolfi Funeral Home
and Marinella Funeral Home, both – Golden Legacy award winners.
         Said Chamber President PJ Pullia, “It is a night that highlights the vitality of the area’s business community. We are
delighted to put this spirit on display.”
         The evening begins with the popular business expo displays and cocktails/hors d’oeuvres from 5:30PM-7PM,
with dinner and awards following. For tickets and display information, pleased contact John at the Chamber Office
(609) 561-9080 or email jrunfolo@hammontonnj.us
                                                                         Get to know one
                                                                         of our members


                                     OCEAN CITY
                                     HOME BANK

I
     n 1887, Ocean City Home Bank was founded to serve the financial needs of families, business owners
     and visitors in the new seaside resort known as Ocean City. The community bank’s philosophy of
     offering superior banking products and exemplary personal service has allowed it to thrive for 125
     years, withstanding two World Wars, the Great Depression, and a range of economic highs and lows.
The bank has witnessed moments of great financial and historical significance, including the enactment of
the Federal Reserve Act, as well as the establishment of the Securities and Exchange Commission and the
Federal Deposit Insurance Corporation.

Since its founding, Ocean City Home Bank has been dedicated not only to providing exceptional banking
products and exemplary personal service, but also to supporting customers, business associates and the
community with financial support and volunteer efforts. From serving as the title sponsor of a concert
enjoyed by hundreds of families to awarding a scholarship that will help one deserving student continue his
or her education, Ocean City Home Bank actively seeks opportunities to offer improvement, enrichment
and assistance where it is needed most.

From its beginning as the bank by the sea, Ocean City Home Bank has grown to a publicly owned financial
institution with twelve branches and 200 employees. Despite the changes of the past twelve decades, the
economic upheaval of recent years, and the tremendous growth of this community bank, one fact is just as
true today as it was in 1887: Ocean City Home Bank is the bank people trust.
                                                                                               Attention MeMbers
                                                                                                  this area is for you!
              Chamber to Participate in Heart Walk on May 19th
Hammontonian Vince Maione, Atlantic Electric's Region President is leading the American Heart Association's annual
Heart Walk this year. As a group we would like to coordinate a Team from the Greater Hammonton Chamber to show
our support. Check below for Information concerning this year's Heart Walk on Saturday, May 19th. If you would like
to join the Chamber's team, please email Joanne Pullia at jpullia@mlruberton.com or call 609-561-1200 x116. Members
can participate by walking or even by simply giving a donation. There are no minimum donations required. Let's work
together to make our workplace, families and communities healthier! Mark your calendar and add your business today.

                                                 2012 Southern NJ Spring Heart Walk
                                                     Saturday, May 19, 2012 Rain or Shine
                                        Ocean City Sports & Civic Center - 6th St. just off the Boardwalk, Ocean City, NJ
                                        Envelope Drop-Off, Team Photos & Pre-Walk Activities . 9:00am Walk 1, 3 or 5
                                        Warm Up and Program .............................................................10:00am Boardwalk Miles
                                        Ribbon Cutting & Official Start ...............................................10:30am You Choose the
                                                         www.snjspringhw.org                                                        Distance!




             Call Today!                                                                              Join us...
2012-13 Hammonton
                                                                          Installation
                                                                          & Awards        Installation & Awards Banquet May 15, 2012
                                                                           Banquet
                                                                                          The night we celebrate business in our community. An
 Information Guide...                                                                     evening of fine dining and good fellowship.
                                                                                          Red, White & Blueberry Festival July 1, 2012
will be published in May 2012.                                                            The Crown Jewel of Family Festivals, honoring New Jersey’s
Everything you wanted to know                                                             official state fruit. Where else, but in the Blueberry Capital of
about Hammonton - and more.                                                               The World? On the grounds of Hammonton High School.
                                                                         F E S T I VA L
You and your business can                                                                 The John W. Mazzeo Memorial Golf Tournament
participate at reasonable rates.                                                          Fall 2012 Date to be determined
Advertising space is still available!                                                     It’s a great day of golf and camaraderie. Benefits Chamber
DEADLINE IS                                                                               Scholarships and Activities. White Oaks Country Club.
                                                                                          Business Mixers Check our website
APRIL 16, 2012                                                                            and local newspapers for date.
        For more information email                                              For more information on any of these or events, visit
info@hammontonnj.us or call John 609-561-9080                                   www.hammontonnj.us or call John at 609-561-9080


                                                                             Welcome and Good Luck to new businesses
                                                                               who opened recently in Hammonton

                                                                            Sunrise Cafe held their grand opening and
                                                                            ribbon cutting at on March 9. Pictured are MaryLou
                                                                            Klein, Anthony Mortellite, Mayor Stephen DiDonato,
                                                                            Marie Mortellite, Helen Sims, Henry Mortellite, Givanni
                                                                            DePalma, Dante DePalma, owners Lisa and Lou DePalma
                                                                            and Executive Director of the Hammonton Chamber of
                                                                            Commerce John Runfolo. Sunrise Cafe is located at 414
                                                                            North Third Street.
                                                                            INFORMATION AND PHOTOS COURTESY OF THE HAMMONTON GAzETTE
                                                                                                    sage Advice From
                                                                                                   our expert Members
    How to clear out the clutter and streamline your recordkeeping

     to clear personalthe clutterand your home’staxes due.cost plus improvements will help
                your out financial                  and reduce any original
HowaOrganizingtask, and it’s sure to saverecords need not streamline your recordkeeping
  be difficult                            you time
      money in the long run. A well-organized need not be
Organizing your personal financial records system will a difficult task, and it’s sure to
                                                                 Investment Real Estate
save you time retain important paperwork and well-organized system will help you retain
      help you and money in the long run. A reduce the
important paperwork and reduce of paper. The first step in           Keep all documents relating to purchases of
      clutter of keeping every scrap the clutter of keeping every scrap of paper. The first
                                                                 property, along with substantiation for improvements
step in getting organized is deciding which records to keep and for how long. Use legal
      getting organized is deciding which records to keep
                                                                 made to the on to records.
requirements and your common sense as guidelines for how long to hold property. Keep written appraisals and tax
      and for how long. Use legal requirements and your
                                                                             depreciation schedules.
       common sense as guidelines for how long to hold on to
TAx RECORDS
       records.                                                              Investment Records
You should keep tax records for at least as long as it is possible for tax authorities to audit your return.
                                                                                   is later, to examine your
Generally, the IRS has three years after the return is due or filed, whichever Investment records generally should be kept until
returnTax Records                                                            the investment a totally liquidated, plus a period of
        and assess additional tax. This is called the “statute of limitations.” If you’ve made ismajor error
            You (defined as omitting more than least as long as income), the IRS has six years to
on your returnshould keep tax records for at25% of your grossit
                                                                             seven years. Keep any records for taxable accounts
       is your return. There is no statute audit your for fraudulent filing or for returns that are not
examinepossible for tax authorities to of limitationreturn.
                                                                             that a tax reinvested dividends. You can usually toss
filed at all. To be on the safe side, keep yourafter the return is years after showreturn is filed.
       Generally, the IRS has three years tax records for seven
                                                                             monthly or quarterly investment statements if you
       due or filed, whichever is later, to examine your particular
The IRS does not require that you keep your records in any return way. The only requirement is that
                                                                             receive a comprehensive annual statement.
       and assess you and the IRS to determine your correct of
your records allowadditional tax. This is called the “statutetax liability. Keep checks, receipts, and
       limitations.” If you’ve made a major deductions you                    your tax return. Copies of
other records that document the income and error on your report onRetirement Accounts tax
                              be retained permanently.
returns themselves shouldomitting more than 25% of your
       return (defined as                                                          Keep copies of Forms 5498, 8606, and 1099R until
HOME   gross income), the IRS has six years to examine your                  all money has been withdrawn from your IRAs. Good
Expenditures for your home fall into two categories: “repairs” (such as routine yard maintenance and you aren’t taxed on
       return. There is no statute of limitation for fraudulent              records are necessary so that
painting) and “improvements” (usually big-ticket items such as room additions).
       filing or for returns that are not filed at all. To be on             nontaxable withdrawals.
Discard repair receipts once the warranty period expires, but keep receipts for improvements indefinitely. Improvements add to the tax
       the safe side, keep your tax records for seven years
basis of your property. Despite the $250,000 capital gain exclusion amount ($500,000 for joint filers), substantial increases in market value
                                                                             Insurance
       after a tax return is filed.
                                                                                   Keep your of your policies and 12 months’ worth of
could make you liable for capital gains tax when you sell your home. Complete recordscurrent home’s original cost plus improvements
            The IRS does not require that you keep your
will help reduce any taxes due.
       records in any particular way. The only requirement is                cancelled checks and statements. Ask your insurance
INvESTMENT REAL ESTATE                                                       agent about discarding expired policies. Your liability
       that your records allow you and of IRS to determine
Keep all documents relating to purchasestheproperty, along with substantiation for improvements made to the property. Keep written
       your correct tax liability. Keep checks, receipts, and
appraisals and tax depreciation schedules.                                   for prior years can vary.
       other records that document the income and                            Estate Planning Documents
INvESTMENT RECORDS on your tax return. Copies of tax
       deductions you report
                                                                                   liquidated, plus a period of seven years. Keep will, any
Investment records generally should be kept until the investment is totally In your home, keep a copy of your currentany records
       returns themselves should be retained permanently.                    trusts, and any special directives. Give the originals to
for taxable accounts that show reinvested dividends. You can usually toss monthly or quarterly investment statements if you receive a
comprehensive annual statement.                                      your attorney, and consult your attorney about
       Home
RETIREMENT ACCOuNTS
           Expenditures for your home fall into two                  destroying all out-of-date documents.
Keep copies of Forms 5498, 8606, and 1099R until all money has been withdrawn from your IRAs. Good records are necessary so that you
aren’t categories: “repairs” (such as routine yard
        taxed on nontaxable withdrawals.                             Keep It Simple
       maintenance and painting) and “improvements”                      In most cases, you don’t need an elaborate
INSuRANCE big-ticket items such as room additions).
       (usually                                                      recordkeeping system to keep agent about discarding expired
Keep your current policies and 12 months’ worth of cancelled checks and statements. Ask your insuranceyour affairs in order. File
           Discard repair receipts once the
policies. Your liability for prior years can vary.warranty period    tax returns separately by year, and file investment
       expires, but keep receipts for improvements                   records by broker. For expenses, even an accordion file
ESTATE PLANNING DOCuMENTS
       indefinitely. a copy of your current will, tax basis of your
In your home, keep Improvements add to theany trusts, and any special directives. Give the works wonders.attorney, and consult your
                                                                     tabbed by category originals to your
       property. Despite the $250,000 capital gain
attorney about destroying all out-of-date documents.exclusion
       amount ($500,000 for joint filers), substantial increases         If you have any questions or need assistance in
KEEP IT SIMPLE
                                                                     setting affairs in order. File tax returns separately by at
In most cases, you don’t need make you liable for capitalsystem to keep your up a recordkeeping system, give us a call year, and file
       in market value could an elaborate recordkeeping gains
       tax when you sell your home. Complete an accordion            (609)561-1555.
investment records by broker. For expenses, even records of file tabbed by category works wonders.
If you have any questions or need assistance in setting up a recordkeeping system, give us a call at (609)561-1555.




    This article has been reprinted from Alloy, Silverstein, Shapiro, Adams, Mulford, Cicalese, Wilson & Co.’s Winter 2009 issue of the Client Alert
               newsletter. If you are interested in subscribing to our quarterly newsletter, you can sign-up at www.alloysilverstein.com.

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:9
posted:6/3/2012
language:English
pages:4