HCSN 4 85 05

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Established in 1929

Health City Sun

The

www.healthcitysun.com

January 31, 2014

New Mexico’s Legal & Financial Weekly

FORECLOSURE SALES: 7

PROBATE: 35

NOTICE OF SUITS: 9

OTHER: 27

Make Valentines Day A Special Day in ABQ.

Vol. 4.85 No. 05

AUCTIONS: 3 SPANISH NOTICES: 4

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hile temperatures may be well below freezing throughout most of the country, couples can heat things up in sunny Albuquerque all month long with Valentine’s Day specials and packages. Whether it’s a chile dish that warms your heart or a hot air balloon that makes you swoon, the city has something to offer everyone this Valentine’s Day. It’s been said that the way to someone’s heart is through the stomach. Albuquerque restaurants are putting that theory to the test with some delicious Valentine’s Day specials. At La Fonda del Bosque, a contemporary Latin fusion restaurant, couples can enjoy a romantic five-course dinner, champagne and red roses. The St. James Tearoom, a cozy retreat in Albuquerque’s North Valley, is offering a three-course meal, complete with intimate seating arrangements, roses and boxed truffles. Planning a fun and adventurous date is another way to keep your love alive. Whether you love to cut a rug or just watch others do so, Latin Love Fest promises to entertain. Enjoy performances and lessons on a gorgeous new dance floor, plus dessert and drinks. If adventure of the two-wheeled variety is more your style, try the Velo-Tine Bike Tour and Wine Tasting from Routes Bicycle Rentals and Tours. Riders will travel through historic Old Town, as well as along the banks of the Rio Grande River. The Albuquerque BioPark is offering unique adults-only tours of three of its venues. Couples can enjoy the ‘That’s a Moray!’ tour of the aquarium, ‘Love Bugs’ at the botanic garden, and ‘Birds and Beasts’ at the zoo. Let your love soar at the Friends and Lovers Balloon Rally, where more than 135 balloons will color the sky.

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What better way to truly focus on your loved one than spending the night somewhere special? At the romantic Bottger Mansion of Old Town Bed & Breakfast, couples can indulge in a multi-course dinner with wine pairings, roses, a keepsake ‘Do Not Disturb’ sign, and breakfast the following morning. The hip Hotel Parq Central is offering a food and beverage credit for the rooftop lounge, where couples can watch the sunset and city lights, plus in-room champagne and strawberries and breakfast. Start with a one-hour massage for two at the Downtown Historic Bed & Breakfast, before dinner at the renowned Artichoke Café, then head in for the night and wake up to breakfast in bed. For detailed information on these events, plus a complete listing of Valentine’s Day specials in Albuquerque, go to www.itsatrip.org/valentines2014. - ItsATrip.org

Tax Tips For Small Business Owners S

mall businesses play a big role in the U.S. economy. That’s the word from the U.S. Small Business Administration, which reports that the U.S. is home to over 28 million small businesses. A growing number of small business owners are preparing their own business’ taxes. It makes sense given they know their business better than anyone else and because of the affordable tax products available online and as downloadable software. When choosing an online or downloadable tax solution, remember to select the product appropriate for your business type: • Partnerships and multi-member LLCs must file tax Form 1065. • S corporations file Form 1120S. • C corporations need to file Form 1120. • Self-employed, sole proprietors and single-member LLCs need to file Form 1040 and Schedule C. Also, keep in mind that you can generally use online products risk-free because payment isn’t usually required until you file. Remember to compare brands and features carefully, since a higher price doesn’t necessarily mean a better product. Tax-savings tips • If you use your home for your business, you may be able to deduct mortgage interest, insurance, utilities, repairs and depreciation. Corporations and partnerships can deduct actual expenses for nonpersonal uses of your personal vehicle, as well as reimbursements to employees for business use of their personal vehicles. You can also deduct vehicle depreciation and loan interest. • You should be able to substantiate any expenses you claim on your tax return. So whenever buying new equipment, technology, software or even furniture for your business, save those receipts and keep detailed records

that include purchase price and date placed into service. The Section 179 deduction limit for new and used assets purchased in 2013 is $500,000. However, your business must be profitable in order to receive this benefit on your tax year 2013 return. In 2014, the dollar limit drops to $25,000 unless Congress extends this tax break. Bonus depreciation of 50 percent of the cost of new items expires at the end of 2013. Depreciation can be claimed whether or not your business is profitable. • Company donations of money, supplies and property are deductible expenses. So are bonuses and associated payroll taxes awarded to your employees, partners and officers. If you own an S corporation, keep a close eye on officer compensation to ensure that you meet IRS requirements and thus avoid penalties. • If you take a class or seminar or attend a convention that helps you maintain or improve skills required for your business, you can generally deduct the costs. Year-round opportunities Remember, if you are a small business owner, your business has yearround tax savings opportunities. Doing your own taxes can help you be better informed about deductible expenses, and how moving revenue and expenses forward or back may change your taxes. Said TaxACT spokesperson Jessi Dolmage, “Answer simple questions about business income and expenses and the program will do the rest. It’ll complete your tax forms and cover every deduction and credit to maximize your bottom line.” Visit www.irs.gov for more business tax tips and www.taxact.com to learn about TaxACT Small Business solutions. - (NAPSI)


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