Published: November 05, 2008 08:59 pm      

11-6 Business news in brief

Brown named secretary of advisors board

Michael Brown of Michael O. Brown and Associates recently was named secretary of the Association of Health Insurance Advisors.

Brown has lived in Edmond for more than 30 years and has served in numerous capacities in numerous organizations, including the board of regents for the University of Central Oklahoma.



Regional Food Bank donations now tax deductible

Food and grocery product donations to the Regional Food Bank of Oklahoma are tax deductible thanks to an enhanced tax deduction for all business taxpayers that was included in the Emergency Economic Stabilization Act of 2008 passed recently by Congress and signed into law by the President.

Included in the law are new tax incentives to foster increased donations of food and grocery products to food banks nationwide, including the Food Bank.

This new law will extend an enhanced tax deduction for food and grocery product donations to all business taxpayers from Jan. 1 to Dec. 31, 2009, meaning that the law will be retroactive and available for product donations already made to the Food Bank this year.

The new law enables all business taxpayers, including farmers, franchisees, ranchers and other small business owners, to take an enhanced tax deduction that is the sum of one-half of the unrealized appreciation (fair market value minus cost equals appreciation) plus the taxpayer’s cost, but the deduction cannot exceed two times the cost of the contributed property as described in IRC Section 170(e)(3).

Farmers and ranchers who use the cash method of accounting do not qualify for the deduction.

In addition, the Emergency Economic Stabilization Act does allow qualified ranchers and farmers to deduct more than 10 percent of their income for the 2008 calendar year if they donate food that is worth more than that amount.



Crest Foods helps fight hunger in Oklahoma

Crest Foods recently donated $14,440 and three truckloads of food to the Regional Food Bank of Oklahoma.

The Food Bank was selected, for the second year in a row, as the charity of choice for the 20th annual Crest Foods Invitational Golf Tournament at Oak Tree on Sept. 15.



Nominations now accepted for small business awards

The U.S. Small Business Administration’s Oklahoma District Office is accepting nominations for the state’s top small business entrepreneur and champions.

Nominations are due Nov. 14. For more nomination information and forms, contact Darla Booker at 609-8012 or darla.booker@sba.gov.



Chamber taking nominations for Woman of the Year

The Edmond Area Chamber of Commerce is taking nominations for the 2008 Coppermark Bank Woman of the Year.

The Woman of the Year award will be given out Feb. 6 at the chamber’s annual awards banquet. Nominations are due by Nov. 7.

This is the first year for the Chamber’s Woman of the Year award.

To nominate a business woman, call the Edmond Area Chamber of Commerce at 341-2808 or e-mail to info@edmondchamber.com.



Cox to launch next generation bundle with wireless in 2009

Cox Communications recently announced its plan to add wireless offerings to its bundle of award-winning entertainment and communications services, including digital cable, high-speed Internet and telephone in 2009.

The company is delivering on its promise to enable residential and business customers to take their Cox services with them wherever they go.



AT&T adds new HD channels for no additional charge to subscribers

AT&T is adding up to 30 new HD channels at no additional charge as part of its existing HD service subscription, depending on a customer’s programming package.

The new channels will be added Nov. 3. With the new additions, U-Verse TV offers more than 75 HD channels.

AT&T is also offering more HD options on Nov. 10 with a new HD Premium package for $5 a month.

The package will feature Universal HD, MGM HD and Smithsonian Channel HD.



OSU Foundation hires Edmond residents

The OSU Foundation recently hired Adrienne Elias and Damien Williams, Edmond residents.

Elias is the new administrative assistant for the athletic development staff.

She is responsible for a variety of administrative and clerical duties.

She previously served as title analyst and land leasing specialist for Bank of Oklahoma.

Elias earned her bachelor’s degree in marketing from Oklahoma State University in 2007 and is an active member of Tulsa Young Professionals and the OSU Alumni Association.

Williams comes to the foundation to serve as director of development for the College of Arts and Sciences.

He provides oversight to arts and sciences fundraising programs.

He is responsible for sustaining ongoing relationships with major gift prospects including identification, cultivation and solicitation.

He previously served as director of development for graduate programs at the University of Oklahoma.