Small Businesses Get Practical Advice in Preparing for Uncle Sam and Assurance from the CFO

On Wednesday, January 16, 2008, BusinessPremier presented Uncle Sam & Your Bottom Line: Understanding Your Business Taxes and Finances before a crowded audience of local entrepreneurs and small business owners. Opening remarks by the Hon. Councilman Jack Evans, Chair of the Committee on Finance & Revenue, and the Hon. Natwar Gandhi, Chief Financial Officer for the District of Columbia, set the tone for a conversation on the District’s small business tax policies, detailed District spending trends and re-affirmed the integrity of the Office of Tax & Revenue. Additionally, Stephen Cordi, newly appointed Deputy Director for OTR, made his first public appearance prior to his official start date of January 22nd.

Highlights of remarks by Evans and Gandhi include:
Discussion of the $11Million Dollar Property Tax Relief approved by District Council
Proposals for commercial property tax assessment rates to alleviate small business burden
Announcement of the District’s positioning as more cost competitive than Maryland and Virginia for sales and personal income taxes
DC government officials joined local financial experts to discuss the benefits of successful tax preparation for businesses and shared free financial reporting tools. Glen Groff, Director of Operations, DC Office of Tax & Revenue detailed the District stringent compliance regulations, including the Ball Park Fees schedule and applicable taxes by type of business; Dwayne Holt, Partner, Beers & Cutler, focused on the best tax reduction strategies including government incentive programs such as Net2000 and Worker’s Tax Credits; and Peter Justen, President and CEO,, an online financial reporting tool for small businesses, discussed the benefits of sound financial reporting practices to the livelihood of business development and its resulting impact on the tax preparation process. The program provided valuable and timely information that can assist businesses with tax season just around the corner!

Next Business Premier event

Business Premier “Finding & Keeping Talent: Strategies for Workforce Development”
February 13th from 9:30am-11:00am at WDCEP- 1495 F Street NW, Washington, DC
Skilled labor is the most important asset of any organization. Unfortunately, due to the regions low unemployment rate, finding and keeping talent has become a growing challenge for businesses both large and small. Join us for a discussion on finding and cultivating talent, temp vs. hire, and the District’s workforce strategy for the future. Introductory Remarks: Councilwoman Carol Schwartz (At Large) – Committee on Workforce Development and Government Operations, Summer Spencer – Department of Employment Services; Margaret Singleton- DC Chamber of Commerce and Tanesha Willis- Accountemps. Register Now!

Posted Under: DC News