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Calling all Creatives in Gainesville and Ocala! The final day to enter the American Advertising Awards, the ADDYs, is Friday January 17th. Bring your entries to the Gainesville Sun Office on S. 13th Street Gainesville between 123p and 6p. Enter online www.AmericanAdvertisingAwards.com. We will have CFE Packets available to assemble your entry. Pre-pay online or by check at CFE. Please print your manifest to submit with entries.
Pricing is as follows:
Single Entry: $80
Single Entry: $160
Single Entry: $30
If you have any questions for preparing your entries visit http://www.adfedgainesville.com/preparing-your-entries/ or email Hector Del Valle at hector@liquidcreativestudi
Welcome our new member and their team – iLS Network. iLS network is collection of online apartment guides – known in the apartment industry as “internet listing service” websites – changing the way renters find apartments. Their network of websites provides renters with the confidence that they are indeed making the right choice in their search for an apartment. Visit their website to learn more about iLS. Welcome to Adfed! http://www.ilsnetwork.com/
Senator Max Baucus, D-Mont., Chairman of the Senate Finance Committee released draft tax reform legislation today that takes direct aim at advertising (section 23, page 104). The bill would only allow 50% of advertising expenses to be deducted in the current year, with the remaining 50% amortized over 5 years.
It is critically important that the advertising industry speak loudly and clearly to Senators and oppose any limitation on the full tax deductibility of advertising. Please contact your Senators today and ask them to oppose any change to the tax treatment of advertising.
The full current year deduction for advertising expenses should be preserved because:
- Advertising – local, regional and national – generates $5.6 trillion in total economic activity for our country and helps support 22.1 million, or 15% of all jobs in the U.S. economy. The stimulus generated by advertising brings jobs and sales to every state and to every community. Even a modest reduction that limits the amount a business may deduct of its total advertising spending could have a devastating impact on jobs and economic activity.
- For 100 years the Tax Code years has rightly permitted businesses to deduct the full cost of their advertising, just as it permits the deduction of other business costs like salaries, rent, utilities and office supplies. It is not a special preference or deduction, it is a normal and necessary expense that a business must pay to communicate with customers and generate sales.
- Nobel prize-winning economists who have looked at the advertising deduction have concluded that nothing in the economic literature justifies a change in tax policy. They have argued it makes no economic or common sense to make businesses pay more for advertising.
- Making advertising more expensive would only cause a decline in ad spending and cost jobs, since every $1 spent on advertising leads to $20 in economic activity.
- The proposal also does not consider that companies buy new advertising each year and would feel the brunt of this tax annually. Not only would they have less money to spend on advertising year after year, but media companies would also be impacted as advertisers would be forced to reduce their ad buys.
Senators can be easily contacted though the U.S. Senate website. Just look for “Find Your Senators” in the upper right hand corner of the page.
Please circulate this alert to other members of your company and/or ad club and report back to me any response you may receive. Do not hesitate to let me know if you have any comments or questions. Thank you for your assistance with this vital matter.
We have recently learned from a Member of the House Ways and Means Committee that the Committee is seriously considering a tax on advertising as part of the tax reform bill that Chairman Dave Camp, D-Mich, hopes to release later this month or early October. It is critical that you and other members of your ad club and company contact members of the Committee as soon as possible, and express your strong opposition to such a proposal. This is especially important if you live in a Committee member’s district.
We do not know the exact form that the tax may take. Ideas that have been discussed in the past include a proposal that would allow businesses to deduct only 80 percent or less of their advertising costs. Other proposals would require businesses to amortize a portion of advertising costs – postponing the deduction over several years until long after the advertising has appeared.
Any kind of a tax on advertising would cost the nation millions of jobs and hundreds of millions of dollars in lost economic activity. This is a direct impact documented by a landmark study of the economic impact of advertising on the U.S. economy.
As I wrote in an earlier alert, advertising – local, regional and national – generates $5.6 trillion in total economic activity for our country and helps support 22.1 million jobs in the U.S. economy. The stimulus generated by advertising brings jobs and sales to every state and to every congressional district. Even a modest reduction that limits the amount a business may deduct of its total advertising spending could cost the nation 1.6 million jobs and $419 billion in economic sales activity.
The critical message to convey to Members of Congress is that the deduction for advertising costs is not a special preference or deduction. Every business in America is entitled to this deduction, which is classified as an ordinary and necessary business expense just like the salaries of employees, rent for office space, utilities and other costs that a business must pay to keep the doors open and to generate sales. This deduction is for core business expenses and has been permitted since the adoption of the Tax Code in 1913. You should emphasize that you are not seeking a special treatment or exemption – you are asking Congress to maintain the business expense deduction allowed for advertising for the past 100 years.
As you may have heard in news reports, tax reform is considered a long-shot for enactment this year. However, even if does not pass, any bill drafted by the Ways and Means Committee is likely to be the starting point for future reform efforts. Therefore, it is essential that we persuade Committee members and Chairman Camp from including a tax on advertising in the draft bill.
The members of the Committee are listed below. They all can be reached through links on the Ways and Means Committee or U.S. House of Representatives websites. Please report back any response you may receive and do not hesitate to let me know if you have any comments or questions.
Committee on Ways and Means
Camp, Dave (MI), Chairman
Johnson, Sam (TX)
Brady, Kevin (TX)
Ryan, Paul (WI)
Nunes, Devin (CA)
Tiberi, Pat (OH)
Reichert, Dave (WA)
Boustany, Charles (LA)
Roskam, Peter (IL)
Gerlach, Jim (PA)
Price, Tom (GA)
Smith, Adrian (NE)
Schock, Aaron (IL)
Jenkins, Lynn (KS)
Paulsen, Erik (MN)
Marchant, Kenny (TX)
Black, Diane (TN)
Reed, Tom (NY)
Young, Todd (IN)
Kelly, Mike (PA)
Griffin, Tim (AR)
Jim Renacci (PH)
Levin, Sander (MI), Ranking Minority Member
McDermott, Jim (WA)
Lewis, John (GA)
Neal, Richard (MA)
Doggett, Lloyd (TX)
Thompson, Mike (CA)
Larson, John (CT)
Blumenauer, Earl (OR)
Kind, Ron (WI)
Pascrell, Bill (NJ)
Crowley, Joseph (NY)
Schwartz, Allyson (PA)
Davis, Danny (IL)
Sanchez, Linda (CA)
Executive Vice President-Government Affairs
American Advertising Federation
Join us for the first program of the year, Thursday August 29th 12p at a new location, KC Craves on SW 2nd Ave. Our guest speaker will be Trae Walker, VP of Sales and Publisher at CurtCo Media. Walker handles advertising Sales for the luxury publications with annual sales from $1 million-$4 million. And establishes relationships with some of the top luxury brands in several categories. Curtco Media recently opened an office in Innovation Square in Gainesville. Discounted Pre payment for the luncheon is available, see below. RSVP to firstname.lastname@example.org
The 2012-13 Adfed year came to a close this month with a fun social at Vellos Brickstreet Grill and installation of your new board for 2013-14. We accomplished so many exciting thing this past year. A few things that will make our club operations run smoothly for years to come include, cleaning up our membership directory for communications, dues and online. Our Social Media efforts have generated increased awareness for our club and relationships with our local media. And our members are saving time with our credit card processing at events and online.
A few more accomplishments include, new active and corporate members and our programs this year were elevated with high profile speakers and webinars for education and professional development
Our two main programs each year are Media Auction and the ADDY competition. Both events were great successes with a positive return allowing us to continue funding of our Scholarship program with the UF Advertising Department and the Santa Fe College Digital Media Department.
Along with our membership volunteers, each of your board members has contributed to this successes and I want to thank all of you for your time and support given to our club to promote the advertising industry in our community.
I am looking forward to serving another year as your president and working with our New Board to continue achieving the goals of our organization with a focus on professional development and supporting education for the future of advertising.
We say good bye to a few dedicated board members that have served many years but they are not allowed to move to Hawaii so they will still be involved with adfed. Thank you, Jorge, Jeannette, James, John and Katie for your many years of service.
Now we welcome back a few members and announce a few new board members that actually represent the new corporate members that joined in the last year and a returning board member from a few years ago. Kathy Staffa, Secretary, Nick DeConna Programs Chair, Eric Flagg Education Chair, Tom Duffy Public Service Chair and Hector DeVall ADDY Chair. Returning Jennifer Norman President Elect, Kinnon Thomas Treasurer, Susan Meurlott Membership, Sue Wagner President Advisory and Wes Lindberg Communications.
Please welcome your new board and speak to each of them and find out about volunteer opportunities there are for the upcoming year.
Stay connected for updates on our events and programs. Mark your calendars for the weekend of Sept 6 – 9th.