Local business owners attend tax and investment seminar

By Ashley Clementovich

Local residents and business owners gathered at the Whitecourt Golf and Country Club last Wednesday evening to attend a seminar put on by the Whitecourt & District Chamber of Commerce, RBC, and Hendrickson Black Chartered Professional Accountants. Those who arrived early tucked into some of the delicious food and refreshing beverages offered by the Golf and Country Club.

Chamber Vice-president, Amanda St. Pierre, said the idea for the seminar came from a membership request, “to help with taxes and tax planning for businesses.” “We’re here to serve our membership,” added St. Pierre. The Chamber has planned a series of workshops for 2019, sponsored by ANC, which will address the shortfalls identified within the economy, and fulfill the needs of the business community.

RBC’s Investment Retirement Planner, Janelle Viney, and Financial Planner, Camden Robinson, prepared a presentation centered on business owner investment, exit strategies for business owners, and formal business owner planning. Viney noted that RBC presents seminars quarterly, the previous one held at the RBC branch was geared towards old age pensions and CPP. “We’ve wanted to broaden that,” said Viney, referring to how the collaboration with Hendrickson Black and the Whitecourt Chamber came about. By joining up with an accounting firm, Viney noted they could incorporate tax tips and savings information into the evening.

A large portion of those attending were business owners. New business owner, Tasha Erickson, and Kyla Robins, who is self-employed, were both keen to learn all they could about business tax. Robinson added that the age range attending the seminars are usually between the ages of 40 and 60 years old depending on the presentation topic. Both RBC employees pressed that any suggestions on future topics are welcome and are eager to tailor them for any age demographic and interests.

Dean Hendrickson, a Partner at Hendrickson Black, noted that the Chamber asked him to participate in the seminar to provide expertise on the tax aspect of business giving relevance to companies, businesses, and investors. Hendrickson’s presentation, “Life Less Taxing!” covered a wide range of tax-related information including income tax, provincial and federal tax brackets, corporate tax rates, taxes on investment plans, and business income and expenses. Hendrickson voiced his eagerness to break down the mysterious or intimidating barriers surrounding taxes. “I want to demystify it so it’s understandable to everyone,” he said.

The Chamber is holding its Annual Golf Tournament on June 21 as well as the Summer Festival which will be spread out over July 12-14.