/Post Office Box 23874 Chattanooga, TN 37422 (423) 886-8367 / *JULY MEETING * *Community Communications* This month, Maria Noel of the The Enterprise Center, will chat with us about community communication Maria is a marketing specialist, community developer, and Renewal Community Manager. She is determined to make sure as many Chattanooga businesses as possible benefit from many incentives out there that of which we may not be aware. This busy lady is an expert on relationships and will be able to speak to us about how small business owners can be more engaged in property opportunities. Send your email reservations to Nesha Holloway at nesha_holloway@bcbst.com. Or call in your reservations to the 886-8367 NAWBO line. If you do not cancel within 24 hours you will be billed for non-attendance at the lunch. Luncheon: *Thursday, July 20* Sign in: 11:15 AM Lunch: 11:30 AM Location: Gallery Café 1404 Cowart Street Cost $15.00 Register by *Monday July 17* Call 886-8367 or email Nesha_holloway@bsbst.com All reservations must be paid *President's Column By Celeste Friend* Anytime there is a changing of the guard it always takes a little while to regain momentum. These last couple of years the Chattanooga NAWBO has been guided by the able and experienced hand of Marj Flemming. Marj (whose intelligence and cleverness have always awed me) has been in a leadership position with NAWBO for many years and her knowledge of the club is very valuable to me. I look forward to her advice as I step into her shoes. Another rock of the club, Peggy Parker, is stepping down from the position of Treasurer. Peggy's logic and calm demeanor have been a real asset to us. Her smile, dependability, and thoughtfulness will be sorely missed. As I step into this role, I envision several goals that I want to accomplish: ? Increase the membership, ? have fun, ? support each other in growing our businesses, ? have fun, ? share ideas and resources for issues that are specific to women business owners, and, ? Oh Yeah, let's have some fun. A criticism that I have heard of our group in the past is that we are nothing more than a girlfriend club. While I can understand where that view might come from, I would like to offer this thought - we are so much more than small men in skirts and heels. We think at a different level, we feel more deeply, and our challenges are many and varied. Besides having the business world on our shoulders, we're usually caring some family members as well. So if making some connections through this group helps you keep your sanity, then we have accomplished our purpose for existing. I look forward to each of your help and support in making NAWBO an increasingly valuable part of all our lives. *PAGE TWO* *Chattanooga Chamber Establishes Awards to Recognize Women in Business* This fall the Chamber will establish a new series of awards celebrating the strength, leadership and courage that characterizes women who succeed in the business world. The Chattanooga Nautilus Awards will be presented, along with the ATHENA Award, on October 25 in ceremonies in the Chattanoogan Hotel Ballroom. "The purpose of the Chattanooga Nautilus Awards is to promote leadership at all levels by people and organizations in the community and workplace as a means of increasing opportunity for women of all ages," said Kristi Haulsee, Chamber vice president of member/investor services. The name of the awards derives from the chambered nautilus, the sea snail that forms chambers as it grows, developing as it builds new, larger chambers and seals off the old. "Oliver Wendell Holmes, who wrote the celebrated Chambered Nautilus poem, saw the growth of the mollusk and its spiral shell as representation of the intellectual growth of humans," Haulsee says. "The nautilus shell seems an appropriate symbol for the strength, leadership and courage that women must demonstrate for success in the businessplace." Developed by Chamber staff and volunteers, the Nautilus Awards include the Corporate Compass, Navigator of Entrepreneurship, the Lightkeeper and the Pearl of Promise. Nominations for all awards, including the ATHENA Award, are being accepted by the Chamber. The Corporate Compass Award will be resented to a business or organization that assists women in achieving personal and career goals and in developing leadership skills. The Navigator for Entrepreneurship will be presented to a woman business owner who encourages work-life balance among employees, demonstrates a pioneering spirit of entrepreneurship and serves as a role model for other women. The Lightkeeper Award will honor an individual who has made significant contributions to issues affecting women and/or girls through grassroots efforts. The Pearl of Promise will be awarded to a high school co-ed with a strong aptitude in math and science and a career interest in a typically male-dominated field. The ATHENA Award, presented by the Chamber for the past seven years, goes to an individual for encouraging women to realize their leadership potential, for a successful career and for community service. Nominations for these awards may be made by visiting http://www.chattanoogachamber.com or calling 423-763-4366 for more information. *OUR MISSION STATEMENT* Empower women business owners through education, opportunity and support, to achieve success economically, socially, and politically *BIRTHDAYS* Vivienne Harris 7/1 *10 QUICK TIPS FOR GETTING ORGANIZED * Clean, organize and purge your desk. Be like Santa every day of the week. Make a list and check it twice. Use only one calendar. Make a note on your calendar, one week ahead of any event, about what you need to do for that event. Make a list of your goals. Choose one or two goals you want to accomplish this year with your business. Get rid of any office supplies you haven't used in the past year. Start planning now for the 2006 tax year. Update your rolodex. Feng Shui your desk and surroundings. December issue?Entrepreneur.com ------------------------------------------------------------------------ *NAWBO CHATTANOOGA BOARD OF DIRECTORS 2006-2007 * President - Celeste Friend Immediate Past President - Marj Flemming Vice President - Julie Bestry Secretary - Katrina Chesney Meeting Management - Mary Robertson Treasurer - Bonnie Hughes Membership Chair - Julie Bestry Newsletter - Pat Egen One in 7 employees works in a woman-owned business One in 11 adult women is an entrepreneur 48% of all privately-held U.S. firms are 50% or more woman- owned?10.6 million firms These firms employ 19.1 million people Women-owned businesses are growing at 2 times the rate of ALL privately-held firms Seventy-five percent of all firms do not have employees; 81% of women-owned firms also are without employees *PAGE THREE* *IRS TIPS? From George Cupp * Our friend, George Cupp, from the IRS has provided us with the latest IRS News Releases and Headliners. IRS News Release: IRS Updates Voluntary Correction Program for Retirement Plan Professionals?IRS issued an updated and expanded revision of a revenue procedure governing its popular voluntary correction program for employee retirement plans ? the Employee Plans Compliance Resolution System, or EPCRS. http://www.irs.gov/newsroom/article/0,,id=156743,00.html Headliner 162: Tax Rules for Foreign Investors in U.S. Real Property?The tax rules governing disposition of any U.S. real property interest by foreign persons vary in many ways from those that apply to U.S. persons. Understanding the tax laws is critical for real estate professionals to avoid personal liability for improper U.S. federal income tax compliance. http://www.irs.gov/businesses/small/article/0,,id=156870,00.html Headliner 161: Issue Management Resolution System Facilitates Resolution of Significant Stakeholder Problems?IRS Stakeholder Liaison (SL) function has established the Issue Management Resolution System (IMRS), a streamlined and structured process that facilitates stakeholder issue identification, resolution and feedback. http://www.irs.gov/businesses/small/article/0,,id=156868,00.html Headliner 159: American Jobs Creation Act Affects U.S. Possession Rules?Section 908 of the American Jobs Creation Act of 2004 added new Code section 937, which clarified and supplemented the U.S. tax rules dealing with U.S. possessions which help determine the tax treatment for individuals and income in U.S. possessions. http://www.irs.gov/businesses/small/article/0,,id=156730,00.html Headliner 158: Additional Guidance for Those Affected by Hurricanes?Additional tax questions about Hurricanes Katrina, Rita, and Wilma that have not been addressed through other news releases and legal guidance documents issued to date. FAQs for Hurricane Victims: http://www.irs.gov/businesses/small/article/0,,id=156646,00.html Headliner 157: Federal Tax Deposit Coupons?IRS is frequently asked, ?Why can?t I get a blank Federal Tax Deposit (FTD) Coupon, Form 8109-B?? The answer is, under certain circumstances, blank coupons are available. However, blank coupons should be used only when absolutely necessary. However, IRS encourages employers to take advantage of the Electronic Federal Tax Payment System (EFTPS) to avoid common errors and automate the payment process. http://www.irs.gov/businesses/small/article/0,,id=156581,00.html IRS Offers Continuing Education Credits for Certified Financial Planners at Nationwide Tax Forums If you have any comments/suggestions please contact George Cupp, Stakeholder Liaison ( 423 )855-6026. You can also email him at George.Cupp@irs.gov. Chattanooga NAWBO Website National NAWBO Website Send us your comments and articles: Editor Email