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Letter From the Chamber President I trust that each of you has enjoyed a relaxing summer and are ready for a productive fall. The Chamber has stayed busy over the summer planning new activities, assisting with new business grand openings and ribbon cuttings and in preparing for fall events. There are several activities already on the schedule for the fall and we are Stephen F. Perry planning more, so make sure you stay connected and are engaged. Use our website at www.colonialheightschamber.com to stay informed and if you desire to be on our email list, email Roger.Green@colonialheightschamber.comto make that request. In the next few months, there will be networking opportunities, a legislative event, monthly membership luncheons, a 5k/ 1 mile fun run, and we will be sponsoring a Teacher Appreciation Breakfast for our Colonial Heights City Schools. Please support as many of our activities as possible. Come and make connections that can benefit your business and that will help us support each other to improve our community. As always, please contact the Chamber Office if we can be of service in any way to you or your business. We are at your service and are ready to do all we can to be helpful. We also appreciate your ideas for making our Chamber of Commerce a relevant and productive member of our business community. I look forward to seeing you at an upcoming event or monthly lunch meeting. Thank you for your continued support of the Colonial Heights Chamber of Commerce.

OUR FINAL TRIP IN 2012 SPECIAL SENIOR TRAVEL PRICING LIMITED SEATING AVAILABLE

HAPPY HOLIDAYS IN MANHATTAN 3 DAYS – 2 NIGHTS November 28 – 30 $665. PER PERSON (Double Occupancy) REGISTRATION DEADLINE WITH FULL PAYMENT: OCTOBER 22 FOR INFORMATION AND RESERVATIONS CONTACT: SUZIE SMITH – (804) 520-7296 Sponsored by the Colonial Heights Chamber of Commerce www.colonialheightschamber.com

Sincerely,

Stephen F. Perry President Colonial Heights Chamber of Commerce

Stay Connected! www.progress-index.com

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2012 - 2013 Officers of the Colonial Heights Chamber of Commerce PRESIDENT STEPHEN F. PERRY 1ST VICE PRESIDENT

JUDY TYREE

2ND VICE PRESIDENT

JOSHUA ATCHLEY TREASURER RANDI SIMMONS PAST PRESIDENT

PAMELA A. WAITKUS EXECUTIVE DIRECTOR ROGER M. GREEN 2012 – 2013 BOARD MEMBERS: MARK WAITKUS All N 1 Services TAMMY FERGUSON

Swift Creek Woman’s Club RANDY WHELAN B&H Lawn Services

RANDI SIMMONS Fort Lee Credit Union JUDY TYREE

Riverside PACE MARK LANDA Boulevard Flower Gardens at Ruffin Mill JOSHUA ATCHLEY Navy Federal Credit Union;

BETSY STAFFORD Bank of McKenney

THOMAS MATTIS City Manager

PAM COMSTOCK Gilbert C. Martin Co.

DR. JOSEPH COX Superintendent of Schools, Colonial Heights

RITA FEASENMYER EVB Mortgage BILL CONNER Kudzu Health and Safety

STEPHEN F. PERRY Stephen F. Perry, CPA

SUSIE BRIDGEMAN H&R Block

CHRIS RIGGS Riggs and Company Investment Management

T.O. RAINEY Hill and Rainey Attorneys

PAMELA A. WAITKUS Waitkus Counseling Group MICHAEL COLB MetLife Financial Services BRIAN RADFORD Southside Regional Medical Center

GEORGE SCHANZENBACHER Director of Planning JEFF FARIES Chief of Police A. G. MOORE Chief, Fire and EMS JOY METZGER Fort Lee Public Affairs

TED WILLIAMS Colonial Heights Soccer Association

TODD WILSON Sheriff

ROGER M. GREEN Chamber of Commerce

HONORARY MEMBERS

2012 – 2013 EX-OFFICIO MEMBERS

LAMESE K. ESSEY

C. SCOTT DAVIS Mayor

DR. JAMES B. McNEER

CHRIS KOLLMAN

The Colonial Heights Chamber of Commerce Newsletter was created by the staff of The Progress-Index newspaper in partnership with the Colonial Heights Chamber of Commerce. This publication may not be reproduced in full or part without the express written consent of Times-Shamrock Communications and The Progress-Index. www.progress-index.com Phone: (804) 732-3456 • Fax: (804) 861-9452

Enjoy The Benefits of Becoming A New Member of the Colonial Heights Chamber of Commerce • FREE 3X5 Your First Advertisement in • City Maps The Progress Index Or The Colonial Voice • Discount Program – (Discounted as a new member– 732-3456 Services and Products offered by fellow • 50% Discount On Your First Advertise- Chamber Members) ment With News - Patriot & Hopewell News as a new member- 458-8511 • Link To The Chamber Website • Promote your business with ChamberMaster, an inter-active website designed • Lobbying For The Best Interest Of to grow members’ bottom line, always Members available. • Mailing Labels (One Set At No Cost) • Chamber Newsletter - Submit brief Introduction article In addition, you may • Monthly Meetings (3rd Tuesdays 11:30 + insert e-flyers periodically and/or notices luncheon) Except July & December about your business - At No Cost – Reser- • Numerous Networking Opportunities vations Required • Prepaid Legal Services Program • Membership Directory & Relocation • Referrals Guide (2 free listings) • Business Of The Month Opportunities

• Seminars and programs of interest to promote business growth • Special Group Rates Through ChamberSolutions for an array of benefits for business and business owners. FOR FURTHER INFORMATION CALL

804.526.5872

Partners in Business and Education 201 Temple Avenue – Suite E – Colonial Heights, Virginia 23834 Email: chchamber@colonialheights.cc On the Web: www.colonial-heights.com

• Ribbon Cuttings Colonial Heights Chamber of Commerce M3


The Perfect Loan File

Securing mortgage approval and satisfying credit underwriting guidelines are not the difficulties plaguing mortgage consumers. It’s in meeting the rigorous documentation requirements that most people fall flat. The fix is simple. Just scan, photocopy, fax, and deliver every aspect of your financial life. Then, shortly before closing, check everything again. Borrowers who enter the mortgage approval process ready to battle their chosen mortgage lender will come out with a nightmare story to tell. As Rita C. Feasenmyer the process, requirements, and guidelines are the same for everybody, your mindset is the game-changer. Accepting the redundant documentation necessary for lender approval will make everyone’s life easier. Remember when your parents occasionally issued directives that you naturally thought were superfluous, and when asked why I needed to do whatever it was they wanted you to do, the answer was often: “Because I said so”. and you would usually comply. This is exactly what consumers should do during the mortgage approval process. When your lender requests what seems to be overdocumentation and you wonder why you need it, accept the simple edict – “because I said so.” You will find the mortgage approval process much less frustrating. So, what’s the perfect loan? Well, it’s one that (a) pays back the lender and (b) pays back the lender on time. Underwriting the perfect loan is not the goal that mortgage lenders aspire to today. The real goal is the perfect loan file. Mortgage lenders have suffered staggering losses and gone out of business because of the dreaded loan repurchase. As mortgage delinquencies increased, FannieMae and FreddieMac began to audit mortgage loans they had purchased and discovered substandard and fraudulent underwriting practices that violated representations and warranties made, stating these were high quality loans. Fannie and Freddie began forcing the originating lenders of these “bad” loans to buy them back. So a small correspondent mortgage lender is forced to buy back a single mortgage loan in the amount of $250,000. This becomes a $250,000 loss to a small mortgage business for a single loan, because it will never be repaid.

It doesn’t take many of these bad loan buybacks to close the doors on many small mortgage operations. The lending houses suffered billions of dollars of losses repurchasing loans from Fannie and Freddie, and began to do the same thing for loans they had purchased from smaller originators. The small and medium sized mortgage originators that survived created underwriting guidelines and procedures to eliminate the threat of future loan repurchase losses. The answer? The perfect loan file. It’s no longer necessary to have excellent credit, a big down payment and stable employment with income sufficient to support your debt service to guarantee your loan approval. However, you must have a borrower profile that meets the credit underwriting guidelines for the loan you are requesting. And, more importantly, you have to be able to hard-copy-guideline-document your profile. Every nook and cranny of your financial life has to be corroborated, double- and triplechecked, and reviewed again before closing. This way, if the originating lender has created a loan file that is exactly consistent with published underwriting guidelines and has documented while adhering to those guidelines, the chances are that your loan will not be subject to repurchase. Borrowers also need to prepare for processing and underwriting. Processors and underwriters are the people trained and charged with gathering (processors), all of your required-for-approval financial documents, and then approving (underwriters), your loan. You can assume these people are well trained and very experienced, as they are tasked with assembling and approving a high-quality-these-people-will-pay-us-back loan file. But just how do they go about that? The process begins with the loan originator (a.k.a loan officer, mortgage consultant, mortgage adviser, etc.) – tasked to match the qualifications of a particular mortgage deal to the appropriate underwriting guidelines. It is the loan officers’s job to determine if a loan scenario is approvable and to gather the documentation to support that determination. It is here, at the beginning of the approval process, where the deal is made or broken. The rest of the approval process is just papering the file. The loan officer determines whether the information provided by the borrower can be validated and documented. This is simple, since most mortgages are approved

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by automated underwriting engines such as Desktop Underwriter, and the automated approval generates a list of the documents needed to paper the loan file. An underwriter can, at this stage, request additional supporting documentation evidence at their discretion, as not all circumstances neatly fit into the prescribed underwriting box. If the loan officer creates a loan file with accurate information, then secures the documentation resulting from the automated underwriting findings, the loan will close uneventfully. There will be lots of questions as this is a critical phase of the process. You’ll need to disclose everything. Expect to answer questions on what you do for a living, how long you’ve been employed in your current field, and what your salary is. If there is a coborrower, they will have to answer the same questions. Every dollar in checking, savings, investments and retirement accounts, also known as assets to close, as well as gifts from relatives and non-profit grants, has to be documented. Essentially everything appearing on a borrower’s asset-radar-screen has to be documented and explained. It all comes down to your proof. If the lender asks for a specific document, give them exactly what they are asking for, not what “should be OK,” – because it won’t be. This is where the approval process tends to go off the rails, when the lender asks for specific documentation and the borrower supplies something else. Here, too, is where both sides get frustrated. So if the lender asks for a bank statement and there are 5 pages for that bank statement, send them all 5 pages, and not just the summary. If you send them the summary page and they ask again, don’t complain that the lender keeps asking for the same thing when you never sent it in the first place. This may sound elementary, but the vast majority of mortgage approval process woes stem from scenarios just like this. The reason the mortgage approval process is now so rigorous is simple. Avoiding defaults and loan buybacks has become the primary goal of mortgage lenders. Higher standards are reducing loan defaults, which should mean fewer foreclosures in the future. So when your lender requests specific documents from you, give it them just “because they said so.” Rita C. Feasenmyer Sr. Loan Officer NMLS#207305 EVB Mortgage

SAVE MONEY!

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FAMILY DENTIST / TEETH WHITENING / COSMETIC PROCEDURES

DR. TONYA PARRIS-WILKINS, DDS

(804) 520-5009 3505 Boulevard, Colonial Heights

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Southside Orthodontics have more than 225 years of combined experience Dr. Shell, Dr. Pond, and the team at Southside Orthodontics have more than 225 years of combined experience in the orthodontic field. Some members of the team have been with their office for over 30 years. Parents are often pleased to bring their children and see faces they remember from when they were treated there as a child. Even Dr. Pond with this stability, everyone on their team is dedicated to continuing education and training to remain at the forefront of orthodontic care. Always friendly and caring, their team of professionals strives to make every patient feel comfortable and informed throughout treatment. Dr. Shell and Dr. Pond are both natives of Southside Virginia. They have completed the rigorous examination series necessary to become Board Certified Diplomates of the American Board of Orthodontics, a distinction beyond the basic requirements for orthodontists, or to perform orthodontic treatment. Both are active members of the

World Federation of Orthodontists, American Association of Orthodontists, American Dental Association, Southern Association of Orthodontists, Virginia Association of Orthodontists, Virginia Dental Association, and Southside Dental Society. In addition to providing comprehensive therapy with modern clear and metal fixed brackets, both doctors are certified to treat with Invisalign and have been trained to use the most sophisticated techniques in this growing treatment method. Dr. Shell and Dr. Pond share similar philosophies of practice and patient care, and work together to put patients’ needs first in order to achieve efficient and comprehensive treatment. Both doctors are fully committed to delivering the highest quality of orthodontic care for aesthetic and functional excellence. Dr. Shell attended Virginia Tech for his undergraduate education and Virginia Commonwealth University’s Medical College of Virginia School of Dentistry to obtain Dr. Shell his dental degree. Dr.

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Shell completed his orthodontic residency at the University of Iowa. Dr. Shell received the American Association of Orthodontists Award for Exceptional Interest in Development of the Ora-Facial Complex from Virginia Commonwealth University, and is an alumni member of the Omicron Kappa Upsilon dental honor society, from which he received the William S. Kramer Award of Excellence. Dr. Shell is also a Scholar of the Hinman Dental Society, and he received the Alpha Omega International Dental Fraternity Award upon completion of his dental degree at Virginia Commonwealth University. Dr. Shell resides in the Enon area with his wife Toni and daughter Raegann. He has volunteered on dental Missions of Mercy and has been an organizer for the United Way and Special Olympics. Dr. Shell has served three committee terms with the Virginia Dental Association and with the accreditation team at Virginia Commonwealth University’s Medical College of Virginia School of Dentistry. He enjoys traveling, outdoor activities, sporting events, and spending time with family and friends. Dr. Pond received his undergraduate education from Richard Bland College and the

College of William and Mary before earning his dental degree at Virginia Commonwealth University’s Medical College of Virginia School of Dentistry. After practicing dentistry for one year, Dr. Pond then returned to Virginia Commonwealth University to complete his orthodontic education. He is a Fellow of the International College of Dentists and the American College of Dentists, and is a member of the Medical College of Virginia Foundation for Education and Research. He is also a past president of the Virginia Association of Orthodontists and the MCV Orthodontic Foundation. Dr. Pond has fulfilled his life-long dream of becoming an orthodontist. He gives back to the community through his involvement in education and other areas, and has been a member and past president of the Lion’s Club for over 35 years. In addition, he has served as the president of the Colonial Heights Chamber of Commerce. Dr. Pond has two children and two grandchildren. He and his wife Cindy reside in Colonial Heights. He enjoys spending time with family, friends, and attending car shows.


       

e   

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Colonial Heights Chamber of Commerce Businesses of the Month

July through September 2012

July

Bruster’s Ice Cream

August

Sarek Autowerkes Ralf Sarek

September

Southside Orthodontics

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Colonial Heights Chamber of Commerce Making Connections PARTICIPANTS IN OUR FACE TO FACE MEETING

SHAMPOOCHES RIBBON CUTTING

Shampooches is a full service dog salon in the Dunlop Village Shopping Center in Colonial Heights.

ODYSSEY HOSPICE FOOD DRIVE Odyssey Hospice of Colonial Heights and their employees led a very successful food drive to benefit the patrons of the Colonial Heights Food Pantry. Odyssey Hospice secured donations from their own employees and other local businesses and collected a total of 1101 pounds of food. GREAT WORK!

Tom Bandy, owner of Bandyworks, Judy Tyree, Marketing Director of Riverside PACE, Stephanie Stables, Branch Manager from VCB Colonial Heights , and Joe Croce, Executive Director of the Southside Virginia Association of Realtors at the first Chamber Coffee, Comaradarieand Conversation meeting at the Chamber Office. Come meet other Chamber members on Monday mornings at the Chamber Office in Colonial Heights. Call Roger Green for details at 804 526 5872 or email Roger.Green@colonialheightschamber.com

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Fall Lawn Care

Temperatures have started to cool now and it is a great time to start thinking about working on that lawn. Most are us are still using cool season grasses such as fescues and these are best sown in the fall. This year particularly due to the heat and heavy rains early in the season we have seen a vast explosion of crabgrass and nasty weeds such as spurge and black medic. There is no need to worry about chemically controlling these weeds at this time. The best bet is a good thatching Mark Landa and aerationto make sure seed can make good contact with the soil. Choose a seed that is a blend that is formulated for this area. There are several out there and I would recommend a blend we put together simply call Boulevard Premium Blend or another called TLC Blend which both contain top varieties which are included on the Virginia Tech recommended list. You will need to use 4 lbs. per 1000 sq. ft. on over seeding and 6 lbs. per 1000 sq. ft. for bare ground. The second most important step to be successful is fertilization. Fescues only feed in the fall of the year and this is what it takes to build a good strong root system. Three feedings, once a month during Sept.,

October, and November. You always want to use a good slow release fertilizer such as Glenview Fall Feed. This product is far superior to Scott’s in my opinion and a better priced product to boot. Stay away from the old 10-10-10 product as this is not only quick release but can add to the contamination of the Chesapeake Bay. The last application of Fertilizer should contain weed control and is very important that this step not be left out. This will prevent most of your weed problems that come out in the spring. If you would prefer to spray for weeds then a product like Weedfree Zone would be your product of choice. This product works well during cooler temperatures. Liming is typically done in the fall and winter months as well. Only a good soil test can tell you how much lime you really need. I always encourage having this done at least once every few years, money well spent. If you need to apply lime keep it two weeks away from any fertilizer application. If your soil test calls for lots of lime remember to never apply more than 40 lbs. per 1000 sq. ft. at any one time. If you follow these few simple steps you can have the lawn that your neighbors will be envious of. Enjoy the Garden! Mark Landa Boulevard Flower Gardens at Ruffin Mill

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Rules of the Road

I am asked often... what are the most critical ingredients to successful investing? Engrained in my memory, there are 10 key ingredients. Chris Riggs Years ago, I was an Advisor with Edward Jones Investments who put this recipe in writing, for which I give complete credit to the content of this article. It was called the Rules of the Road. It has been these basic principles that have helped me successfully guide clients through some the troubling times of the last decade.

Despite legends of vast fortunes made on one or two trades, most successful individual investors make their money over time. I believe the most consistently successful strategy for building long-term financial security is to own a well-diversified, quality portfolio – and plan to own those investments for the long term.

Rule #5: Address Mistakes Quickly When a fisherman thinks he’s in the right spot, it’s tough to get him to move, even when there’s nothing biting. Some investors are the same way. At Riggs & Company, we’re known for our long-term investment strategy, but no strategy is foolproof. Over a lifetime of investing, mistakes are Rule #1: Develop a Strategy bound to happen. The best way to avoid Experienced travelers will tell you that get- making them worse is to review y ting there is half the fun. If you don’t know our portfolio at least annually. Remember, where you’re headed, any road will take “buy and hold” doesn’t mean “buy and you there. Wandering aimlessly without a ignore.” destination can cost you time and money. The same can be said for investing. Rule #6: Understand Risk, and Take Steps to Help Reduce It Rule #2: Stick with Quality Every investment carries some form of Of all the factors to consider when invest- risk. The amount of risk you take can often ing, quality is one of the most important. go hand in hand with the potential return It’s also one of the most often overlooked. an investment offers. It’s important to understand investing risks and take steps Rule # 3: Diversify to help reduce them. No single investment performs well under all conditions. If a large portion of your Rule #7: It’s Not Just What You Make, It’s portfolio is concentrated in one type of What You Keep investment and bad news causes its value How your investments are taxed can be to drop unexpectedly, your long-term an important consideration, but taxes financial security may be in jeopardy. shouldn’t drive your long-term investment decisions. While you shouldn’t be Rule # 4: Invest for the Long Term blinded by taxes, opportunities are often

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To subscribe, call 490-0055 or visit us online.

available to reduce your overall tax bill by holding investments longer or by funding tax-advantaged accounts, such as IRAs, 529 college savings plans and 401(k)s, and owning tax-free municipal bonds. Rule #8: Quality Stocks Have Historically Outperformed Quality Bonds Your investments need to keep up with inflation to help ensure that you can maintain your standard of living as prices rise. Equities – that is, stocks and the mutual funds that own them, rather than bonds – may be able to help you keep pace. Rule #9: Focus on What You Can Control Investors know the hazards that occasionally face our world: war, soaring oil prices, geopolitical turmoil, economic uncertainty and market fluctuation. As an investor, you can’t control these things. That’s the bad news. The good news is you don’t have to. Investment predictions are not the key to success; instead we believe the key is basing your decisions on investment princi-

ples, the most important of which are the: • Quality of the investments you own • Diversification of your portfolio • Holding period by your investments Rule #10: Review Your Strategy Regularly Given the ups and downs that accompany a lifetime of investing, it’s not too surprising that even long-term investors occasionally lose their sense of direction. That’s when an investment plan is especially valuable. The most successful investors we have known are those who have thought carefully about their long-term financial goals, and have then developed a strategy to achieve them. Christopher B. Riggs, AAMS LPL Financial Advisor Riggs & Company Investment Management 311 East Washington Street Petersburg, VA 23803 (804) 863-0601

YOUR WISHES ARE OUR MAIN CONCERN Funeral Home • Crematory Pre Arrangements • Pet Services

Pr Proud To Have Served The Community For Over 60 Years Ye 1952 - 2012 2033 Boulevard Colonial Heights

3935 S. Crater Road Petersburg

(804) 526-3400 www.ealvinsmall.com Colonial Heights Chamber of Commerce M11


Colonial Heights Chamber of Commerce Calendar 10/01 - Meet The Candidates – Candidates Forum – Senior Center 7:00 p.m.

5/11-12/2013 - Fort Clifton Festival

10/02 - Community Night Out

5/21/13 - Membership Luncheon and Board Meeting 11:30 a.m. CHHS Technical Center

10/15 - Ribbon Cutting at EyeMart Express 1078 Temple Avenue Colonial Heights 2:00 p.m.

5/30/13 - Chamber of Commerce Reverse Raffle

10/16 - Membership Luncheon and Board Meeting 11:30 a.m. CHHS Technical Center

6/18/13 - Membership Luncheon and Board Meeting 11:30 a.m Location TBA

11/06 - Teacher Appreciation Breakfast CHHS Cafeteria 8:00 a.m.

CALL ROGER GREEN 804 526 5872 OR EMAIL chchamber@colonialheights.cc for information.

11/20 - Membership Luncheon and Board Meeting 11:30 a.m. Location TBA 11/22 - Thanksgiving Day Turkey Trot 5K and 1 Mile Fun Run 9:00 a.m. 12/4 - Colonial Heights Christmas Parade

Updates

12/18 - Chamber Christmas Open House 1:00 – 4:00 Chamber Office

Regional Collaboration on Leadership Program

1/15/13 - Board Meeting 11:30 a.m. CHHS Technical Center

2013 – 2014 Directory and Visitor Guide – January 2013 Sales – June 2013 Publication

2/9/13 - Colonial Heights Has Talent 7:00 p.m. CHHS Auditorium

Sponsorship Solicitation Form with Annual Dues Renewal

2/19/13 - Board Meeting 11:30 a.m. Picadilly Restaurant

Annual Dinner, Fun Run, Talent Show, Teacher Breakfast

3/21/13 - Annual Dinner 5:45 Lee Club – Fort Lee, Virginia 4/16/13 - Membership Luncheon and Board Meeting 11:30 a.m. Location TBA

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Organizing Tax Records Now Can Help You Later Summer vacation season is over and schools are back in session with the new routine. This is a good time for organizing your tax records. Stephen F. Perry Devoting some time mid-year to putting your tax-related documents in order will make preparing your tax return easier when the filing season arrives which will be here before you know it. Here are some things the IRS wants individuals and small business owners to know about recordkeeping. • What to keep – Individuals. In most cases, keep records that support items on your tax return for at least three years after that tax return has been filed. Examples include bills, credit card and other receipts, invoices, mileage logs, canceled, imaged or substitute checks or other proof of payment and any other records to support

deductions or credits claimed. You should typically keep records relating to property at least three years after you’ve sold or otherwise disposed of the property. Examples include a home purchase or improvement, stocks and other investments, Individual Retirement Account transactions and rental property records. • What to keep – Small Business Owners. Typically, keep all your employment tax records for at least four years after the tax becomes due or is paid, whichever is later. Also, keep records documenting gross receipts, proof of purchases, expenses and assets. Examples include cash register tapes, bank deposit slips, receipt books, purchase and sales invoices, credit card charges and sales slips, Forms 1099-MISC, canceled checks, account statements, petty cash slips and real estate closing statements. Electronic records can include databases, saved files, e-mails, instant messages, faxes and voice messages. • How to keep them - Although the IRS

generally does not require you to keep your records in any special manner, having a designated place for tax documents and receipts is a good idea. It will make preparing your return easier, and it may also remind you of relevant transactions. Good recordkeeping will also help you prepare a response if you receive an IRS notice or need to substantiate items on your return if you are selected for an audit. For more information on recordkeeping for individuals, check out Chapter 1, “Filing Information,“ in IRS Publication 17, Your Federal Income Tax. Find small business recordkeeping information in IRS Publication 583, Starting a Business and Keeping Records. Both publications are available at IRS.gov or by calling 800-TAX-FORM (800829-3676). Also available are new video and audio files explaining recordkeeping requirements in detail, located on our IRS video portal at www.irsvideos.gov.

Welcome New Members The Colonial Heights Chamber of Commerce Welcomes those recently joining our Chamber. Remember – it is Good Business to Do Business wih Chamber Members! James Ruffa Jacobs Financial Group 10108 Krause Road, Sutie 201 Chesterfield, VA 23832 804 768 0541 FAX: 804 768 0487 james.ruffa@axa-advisors.com www.jacobsfinancialgroup.net Minnieland Academy 400 E. Westover Avenue Colonial Heights, VA 23834 804 380 4128 FAX: 804 323 1452 lmarano@minnieland.com www.minnieland.com

Jen Care Neighborhood Medical Centers 524 Southpark Boulevard Colonial Heights, VA 23834 804 874 3160 Victoria.sanders@jencaremed.com Bon Secours Richmond Health System 7229 Forest Ave. Suite 112 Richmond, VA 23226 804 281 0238 susan_salyer@bshsi.org

Dunn Right Properties, LLC 1214 Boulevard Colonial Heights, VA 23834 Telephone: 804-526-1214 colonialhaven@gmail.com Colonial Heights Chamber of Commerce M13


Is Financial Stress Making You Sick?

suspect that you are not going to like what you find. How do you get started? In the same way doctors often recommend having a physical checkup before you begin an Like many people, exercise program, so doing an assessment you probably made a of your financial vital signs is the first step New YearsResolution on the road to financial wellness. And if that this is the year need be, seek out a financial professional you will get healthier to help you. – perhaps by losing Only you can decide what’s important weight, eating better, to you - whether it is saving for college, Michael J. Colb stopping smoking or paying down debt, or buying a home, and adding some regular exercise into your life. of course preparing for retirement. HavBut did you include financial wellness in ing clear goals will help you gauge your your fitness plan? progress and clarify the necessary choices Did you know that in addition to keep- and priorities to achieving them. Putting ing you awake at night, financial stress and these goals on paper may also encourage worry can also actually make you sick? you to stay on track. Studies have shown that people dealing with financial stress are more likely to Step 2, Get Smart suffer from high blood pressure, severe When people make poor financial depression, back pain, headaches, digeschoices it’s often because they don’t have tive problems, and heart attacks; situations the knowledge and information to make that can keep you off work, at the doctors better ones; nearly one in two employees and add to financial pressures. In addition, report that they do not currently consult having financial worries on your mind can with anyone regarding personal financial affect your job performance – distracting matters. Getting to your goals is going to your focus and preventing you from doing need a strategy; and most of us benefit your best. from some help with this. Given the recession and the sluggish As a starting point, you may want to economic recovery it is not surprising that turn to your place of work as one of the more of us than ever are concerned about access points to financial education and our financial security, whether because of guidance. Many employers now make declining home values, mounting credit financial education available to employees card debt, saving for college and retireon a variety of topics ranging from basic ment or simply meeting everyday housefinancial literacy to retirement planning. hold expenses. A MetLife study found that This can take the form of seminars that 43% percent of employees say they have you can attend at work, or online webitrouble paying bills and 71% worry about nars that you can conveniently access on having enough money to make ends meet. your own time, as well as online tools and So achieving good general health means calculators that can help you make smarter not only working on your physical health personal financial decisions. but also on your financial health. Here are If you are looking for more face-to-face some steps you can take to improve your professional guidance and advice, you may financial wellness: want to seek out a financial professional to answer your questions and help you Step 1, Get Started through the process of getting your finanReviewing financial matters can seem cial house in order. Organizations like the overwhelming, and given the pressure and Financial Planning Association, Certified pace of modern life, it is all too easy to Financial Planner Board of Standards, Inc., put off tackling the job –especially if you and LIMRA, to name a few, can help. You Prepared by MetLife Delivered courtesy of Michael J. Colb, MetLife

M14 Colonial Heights Chamber of Commerce

may also want to seek recommendations from colleagues, friends and family.

yet many have not taken steps to protect themselves or their families against these risks. Don’t assume that your medical Step 3, Get Saving insurance or Government disability proNot tomorrow, not when you hit some grams will fill the gap. magic milestone, but now. This is job one! Reduce unnecessary anxiety. Make it Even if the amount that you will need to part of your financial check-up to calculate save for putting your kids through college how much life insurance and disability inor your retirement income seems insurcome protection coverage you would need mountable, don’t let yourself think there to replace your income. Do you currently is no point in even trying. Instead, in the have enough coverage to maintain your or same way that physical health involves your family’s lifestyle? building a healthy body with regular Compare the relatively small outlay exercise, so financial wellness requires a for income protection insurance, with the commitment to a regular savings habit. potential financial and emotional costs of Having a savings plan does not mean NOT having coverage. Take advantage of hoping there will be something left at the your workplace benefits, and if additional end of the month to put away. If you are protection is needed, consider supplelike most people that will be much less menting this coverage with an individual than you need. Instead make saving easy policy obtained on your own. and automatic by having a regular amount No one likes to think of these unpleasdeducted by your employer from each ant subjects but knowing your loved ones paycheck and put into a savings program will be taken care of if anything happens to before you can spend it. You won’t miss you or your ability to earn a paycheck will what you don’t see and will be surprised put you on the path to peace of mind. how even a small amount saved from each Rewiring bad habits is not easy and paycheck can turn into a healthy financial takes repeated reinforcement – as everycushion. one who has ever tried to give up smoking If you receive a raise, or find yourself or lose weight can attest! But working on with a little more free money such as when your financial fitness by taking the above a car loan gets paid off, consider increasing steps can have a big payoff in reduced your savings amount before you increase stress and improved general health. Add fiyour spending levels. nancial wellness to your health goals today. It goes without saying that you should AP-AOL Health Poll- Debt Stress: The Toll Owing be making the most of any tax free savMoney Takes on the Body, 2008 ings opportunities available through 9th Annual MetLife Study of Employee Benefits Trends your workplace. Many employers offer 9th Annual MetLife Study of Employee Benefits Trends to match a portion of your savings. Not 49th Annual MetLife Study of Employee Benefits taking advantage of these programs is like Trends turning your back on FREE money.

Step 4. Get Protected

Most working Americans rely on their income to cover essential living expenses for themselves and their dependents. But have you thought about what would happen if that income is interrupted by a longterm illness or injury or even premature death? Many workers say that they are very concerned about these possibilities, and

This article appears courtesy of Michael J. Colb. Mike is a Registered Representative offering securities, including variable products through MetLife Securities, Inc.(MSI) (member FINRA/SIPC), New York, NY 10166. Insurance and annuities issued by Metropolitan Life Insurance Company (MLIC), New York, NY 10166. MSI and MLIC are MetLife companies. He focuses on meeting the individual insurance and financial services needs of people in and around the Colonial Heights area. You can reach Mike at the of office at 110-C Norfolk Ave, Colonial Heights, VA 23834 (804) 526-6384.


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