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HomeMy WebLinkAboutThe Citizen, 2005-01-06, Page 9THE CITIZEN, THURSDAY, JANUARY 6, 2005. PAGE 9. Enter Ontario Quit Smoking 2005 contest If you are tired of being left out in the cold because you smoke, then the Ontario Quit Smoking 2005 Contest has a great incentive to help you kick the habit. How about revving up the New Year in “the car of old” that’s “new again” - a 2005 Ford Mustang? The contest is for daily smokers who are thinking about quitting,” said Sandra Feltz, co-chair of the Coalition for a Smoke Free Huron Perth. We know that quitting smoking isn’t easy, but with the right plan, a good support system, and good incentives, it can be done.” The first step is to make a plan. Preparation is a key to success. This may involve contacting your health care professional, your local Health Unit, or by calling the Smoker’s Helpline at 1-877-513-5333 to find out what is available to help you quit in your community. Visit the contest website to get you started at www.quitsmokingontario.ca Find a buddy. Quitting isn’t easy and knowing that someone is there to support you could make a big difference. To enter the contest, participants must find a buddy who is also eligible for a prize. Register. You can go online and Wipe out A Blyth PeeWee player takes out a Brussels opponent behind the Brussels net during a league contest at the Blyth and District Community Centre this past Monday evening. Blyth skated to an 8-0 victory. (Jim Brown photo) Blyth beats Brussels find the registration form, contest details, and help and information on quitting smoking at www.quitsmokingontario.ca Registration forms are also available by calling the Huron County Health Unit at 482-3416, or 1-877-837-6143 if long dis­ tance. Financial resolutions for business The new year is here, and you’re considering some personal resolutions. Why not make some financial resolutions for your business, too? “Taking care of your business is a key ingredient to its success,” says chartered accountant Joel Levitt of Toronto. “Small business owners should review their business at least once a year. And what better time than as a New Year begins?” “Tax planning is important at this time of year too,” adds chartered accountant Teresa Gombita, a senior tax manager of Toronto. “As a business owner, you should always be thinking about tax, but some tax planning has to take place by the end “Many smokers have tried to quil before; it often takes many attempts before smokers can quit for good”, said Feltz. “The contest provides an added incentive to try again”. By signing up early, smokers have time to mentally and physically prepare themselves to butt out on of the year.” “A good place to start is with your accounts receivable and inventory,” Levitt says. “This is the number one issue for small business - the ongoing management of accounts receivable and inventory. Most small businesses are understaffed - no one likes to hassle a customer about an overdue bill, and it’s all too easy to let things pile up. But don’t let this happen. Monitor what’s coming in, check it regularly, and follow up anything that’s over 60 days. Also, have a look at your inventory. Carrying too much inventory is a big cost, so clear out any overstocks or merchandise that isn’t moving,” Levitt advises. Another big part of smart business management is setting a budget and planning in advance. Then, work to your schedule, and always compare the actual (what you have in your business account) to what you forecast. Make sure you are on track, or revise your plan if necessary. One more important business resolution is to network with key advisers. “Building a relationship with your business advisers, suppliers and customers gives you the full benefit of their expertise and advice,” says Levitt. “The people who run into trouble are often the ones who see their professional advisers once a year, treat it as a necessary evil, and spend as little as possible on their tax returns and year-end matters. You are not getting the maximum value from your advisers by only seeing them at year-end.” “Business owners can also start the year right by doing some advance tax planning,” says Gombita. There are a variety of year-end issues to discuss with your CA, such as salaries and dividends. Feb. .1 for at least one month. “Too often, smokers don’t take the time they need to think about why they smoke, why they want to quit, and how they will cope with the urges and pressures to smoke that will most definitely occur. By entering the contest now, smokers are taking those important first For example, try to make sure that your yearly bonus and salary is sufficient for you to contribute the maximum to your RRSP. You should plan to contribute early to your RRSP so that you can get the full benefit of tax-deferred compounding. Remember that you can also contribute to a spousal RRSP. When the monies are withdrawn from the RRSP, this strategy can save you future taxes if your spouse is in a lower tax bracket. While this is a useful income-splitting technique, there are many income tax rules to take into account. Be sure that you get good advice,” advises Gombita. “You may be able to take advantage of income-splitting by employing your spouse or children. Again, because they are usually in lower income tax brackets, you can save tax.” Are you planning to borrow money during the year? “If you borrow money for investment purposes, the interest should be tax-deductible,” Gombita Three million Canadians have a hearing loss. I’m one of them. The Heinr® Fbundktionof Cmadi funds the only nationally coordmited medical research program to find the cause and cure of heanr# loss lb learn more about our programs ard how you can help, cal. 1-S6C HEAR YOU, toll free or visit our web site, wvrvi.htaringfoumlationjca kurirton ’__I* HUM Don Harron jjiuiiAai .-rwuilfanna. renown cag^anw steps,” said Feltz. The Quit Smoking 2005 contest is funded in part by Health Canada and is supported by more than 70 local councils on smoking and health and public health units throughout Ontario, with support from Pfizer Canada Inc., Pfizer Consumer Healthcare Division. explains. “And, if you want to make a charitable gift, consider donating appreciated public-company securities - stocks that have risen in value since you purchased them. The government will then tax the capital gain at a lower rate.” Both Gombita and Levitt agree that the adviser who knows your business inside out is your CA. - Brought to you by The Institute of Chartered Accountants of Ontario. On Saturday, Dec. 18 the Brussels and Blyth Tykes faced off at Brussels home rink. Mitchell Kellington, assisted by Wyatt Ducharme scored Brussels’ first goal, then got Brussels’ second goal unassisted. A good effort was made by the Brussels team. However Blyth got numerous shots in on goalie Scott Baan, and won the game 9-2. After a few weeks off for the Christmas season Brussels and Blyth will meet up again with their first game after the holidays taking place on Jan. 8 at 10 a.m. in Brussels. The Tykes and their families enjoyed a family night of skating, pizza and a fun evening at Murray and Shelley Duch­ arme’s on the evening of Dec. 18. J A N U A R Y 143 Josephine St.,Wingham (519) 357-2191 Just what you will be looking for this winter "Meal of the Month" Large Fish Dinner 00 plus tax Open all year round! We have ice cream cakes 148 The Square, Goderich 524'2374 Going South This Winter? We^hav,nB an g£ACH PARTY WED. JAN. 5th - SAT. JAN. 8th Whether you are cruising or planning to relax on a beach, we can help you look your best. We have a great selection of all the newest styles and colours and best of all ... we’re reducing our prices for the next 4 days! Come to our beach party and save! 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