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Show The Daily HsSd Sunday, April 2, 19S5 'Any otter opinions on t partiouk LOGAN People who know how to keep customers interested will share their expertise at the annual Custuner Service and Marketing Seminar, April 12 and 13 at Utah State University. Opening the Partners in Business seminar at 8:30 a.m. in the Eccles Conference Center will be Jack Mayer, vice president of strategic planning for Hallmark Cards. He will talk about how Hallmark's strategic planning and what value it adds. Bruce Marlow, CEO of Progressive Insurance Corporation, will discuss the of a traditional service business at 9:30 a.m. Speaking at 1 p.m. will be Robert Miller, senior vice president of VISA. He will discuss giving quality service to 385 million customers. projects Businesses overlook succession problems Who would manage your business if you were to die or become disabled? , Most business owners are so opbusy handling the eration of their company they Overlook that major business question. ' Business owners usually are so involved necessarily with sales, employees, marketing and cash flow that they forget succession planning. However, they may be surprised to learn their family members and their employees are vitally concerned about this issue. Some family members might consider it their right to step into the owners' shoes, others either don't want to be bothered or will reluctantly step in, but lack interest in the company. Some senior employees may believe they are more qualified to run the business than a family member. On the other hand, the owner facing this decision may conclude that selling or liquidating the business makes more sense man keepday-to-d- ay ing it- . To prevent, or at least lessen, conflicts over the continued operation of a business if the principal dies or becomes disabled, the owner should write a business will. A business will should try to cover all the issues and problems that might arise when a company passes from one set of owners to the next. - After the owners decides who will run the business or if the company will be sold or Fjuidated (hat decision should bt communicated to family members and employees. A financial adviser needi to be hosts customer service semina USU y SAark Urm&ttck & Cory tAfsff ard consulted to discuss the fair market value of the company, and an attorney will help the owner draft the will. It's important to determine the fair market value of the company because it tells you what your business is worth. - Delta SALT LAKE CITY Air Lines (NYSE: DAL) this week becomes the first carrier in the world to offer passenger service aboard the new MD-9Delia's MD-9- 0 will serve Salt Lake City International Airport beginning 0. Juiyl. is an aircraft de"The MD-9signed for Delta's future," said H.C. Alger, the airline's executive vice president of operations. In 1989, Delta began working with aircraft manufacturer McDonnell Douglas for design development of the MD-9assigning teams of airline personnel to participate in the process. The result is a reliable, passenger jet with the quietest and most comfortable cabin ride of any aircraft in its class. Delta has 3 1 of the 150- 0 five-ye- ar j ultra-mode- rn Entcsatog relationships between men and women in successful organizations. She is president of Hamlin and Associates. The general manager for IBM Intermountain, Robert Egan, addresses the seminar at 1 p.m. on Thursday. He will look at IBM's mobile office strategy that allows people to work wherever they work best home, car, office or customer's office. The final seminar speaker is Earnestine Hargrove, associate director of sales and marketing for The D.C. Lottery and Charitable Games Control Board. She is also on the sales marketing council of the American Marketing Association. She will discuss the role of special interest groups in marketing. Additionally, concurrent people, outrageous service, maximizing technology, developing customer confidence and empowering among other rs, subjects. Additional information about the Customer Service and Marketing Seminar is available at (801) or (800) 797-227- 9 472-99- on order. is based on the same Delta's technologically passenger twin-jet- s The MD-9- 0 general airframe design as the MD-8an aircraft Delta has operated since 1987. In fact, the two aircraft operate in such a similar fashion that it will offer Delta savings in pilot training costs. But the MD-9- 0 boasts several noteworthy advances over its predecessor. Significant for Delta is the cost efficiency rendered by the aircraft's V2500 engines, manufactured by International Aero Engines (IAE). The V2500 is up to 10 percent more fuel efficient than any other engine in its class. This translates into expected annual savings of hundreds of thousands of gallons of fuel per aircraft as compared to the already 8, long-ter- ultra-mode- fuel-efficie- MD-8- m rn ' Charities and donors are reminded by the IRS that new substantiation and disclosure requirements, imposed by the Omnibus Budget Reconciliation Act of 1993, apply to certain contributions received on or after January 1,1994. ' Beginning in January 1, 1994, charities receiving payments described as "quid pro quo contributes," in excess of $75, must e a written statement to the (fcjlior. A quid pro quo contribution SsJe in which part of the payment goods or services received and part is a contribution . I This statement must give a good feix estimate of the value of the goods and services received and ejfonn the donor that the charitable; deduction is limited to the aaaount of the payment in excess of se'value of the goods and serv ices provided. For example, if a person gives a charity $100 and receives h exchange a $40 dinner, the char-i- f Xnust inform the donor in writ-fathat the dinner was valued at $45 and only the portion of the payment exceeding the value of the difcner, $60, qualifies is a charita-b- it contribution. A written statement is not repaired if die goods or services provided by the organization are "de teifflimis, token good or services, ir Aa iiitatiguSe religious bcnefiL pro-vjt- ad- for operations throughout North Alger remarked. "That flexibility is crucial in the airline industry." g The sophisticated engines and avionics systems have led experts as a "green to dub the MD-9- 0 machine" because of its operation. At full takeoff power, the MD-9- 0 is dramati- cally quieter generation 8. than previous narrow-bod- y State College. Valentine is speaking on the re'--; cent property tax legislation and its effects on future business in the future. He will also discuss the the House. Peterson is a vice president of Versar Inc., a national engineering and environmental consulting firm, where he is responsible for business development and community relations. Peterson was elected to the Utah House of Representatives in 1986 and was subsequently elected to , the Utah State Senate in 1988, where he has continued to sejrve, He was elected as the majority ' whip in 1992 and majority leader in 1994. The cost of the luncheon is $10 for Chamber members and $12 for nonmembers who RS VP by Thursday at noon. After the RSVP deadline, the cost is $12 for everyone. Please RSVP to the ProvoOrem Chamber of Commerce at aircraft. About Taxes The fair market value of the company becomes significant not only for buying and selling purposes, but also for estate tax liabilities. If the owner becomes disabled or dies and you or your heirs decide to liquidate the business, it could take months to assess the fair market value of the company. Besides the liquidation problem, the lack of an assessment of the business also could tie up a personal estate for months. Typically, more than 50 percent of a business owner's ret worth comes from the value of the business. Don't let this lack of planning create a disaster for your family or employees. Orem CPA, Peter Kranenburg, owner of Kranenburg Accounting and Tax Service, is affiliated with Triple Check Income Tax Service, one of the nation 's largest income tax preparation companies. ritl02 tl ,,,1, i '& I,. , ii n - " "ppM IMP WHM ffii l statement. V77rv or? Charities also need to be aware its"' of a change affecting contributors. For charitable contributions of $250 or more made after December 31, 1993, the donor is not allowed a deduction unless the gift is acknowledged by the charity in writing. Also, the donor must obtain the acknowledgment by the earlier of the date the return is filed or the due date of the return, including any extensions. If they i-f- or Money Saving Strategies g: , J": The responsibility for providing Jfcclosure statements for quid pro fead contributions over $75 rests jUdi the charity. The charity must Jtfovide the statement in connec-trwith cither the solicitation or he receipt of the contribution. A penalty of $10 per contribution can be imposed on the charity for each Mure to provide the required O have not yet done so, charities should assist their donors in complying with this provision by preparing acknowledgments of 1994 contributions as soon as possible. The acknowledgment must contain the amount of the cash or check and a description of any noncash property contributed. It must state whether the charity did or did not provide any goods or services in return for the contribution. If goods or services were provided, the acknowledgment must also include description and good faith estimate of the value of the goods or services, or if the goods and services consist solely of intangible items. The above information was provided by the IRS. '. business. Rep. Valentine has ' served four consecutive terms in ; high-altitu- ever-changin- law and financial planning' at Brigham Yonug University and probate and estates at Utah VaHey' and how it will benefit existing vanced MD-9- 0 gives the airline flexibility to provide economical passenger and cargo service in a wide variety of operating environments. "The MD-9- 0 performs exceptionally well at hot and airports, making it possible for us to schedule this aircraft America," Utah Congressman John Valen- - ' tine and Sen. Craig Peterson are the featured speakers for the Provo Orem Chamber of Commercf at its First Friday Forum lunch on; April 7 at the Provo Park Hotel. Valentine has been an attorney with Howard, Lewis & Petersen in Provo since 1976. He has taught "Micron" bill sales tax reform . 65 reminded changes Charities, d of 1893 tax! ses- sions will be held each morning at 10:45 and repeated at 2 p.m. Subjects will include coaching sales- elta aircraft friendly to customers 0, ' Matt Hession, CEO of Key Medical Supply, closes the seminar's first day talking about the companies he has started,, including two Inc. Magazine 500 companies, and the companies he has lost. He speaks at 3 p.m. The second day of the seminar opens at 8:30 a.m. with Nancy Hamlin speaking about equitable Legislators to address Friday Forum Get a loan by luing your telephone from the comfort of your home. Just call a Zions loan officer, they II take your application over the phone and give you an answer within an hour. We call it TeleLoan. And we do it on just about any type of loan. It's simple. And it s fast. ZIONS BANK FDIC Member ( 379-255- 5. |