business owners

It is not enough to pay income tax and when you die there may be a death tax. If you have household employees (not independent contractors) you as the employer must withhold and pay FICA taxes on their wages if the cash wages paid during 2014 or 2015 total $1,900 or more.

The employment taxes for household employees is reported on Schedule H of form 1040 of the employer (the one who pays the wages).

Let’s call this Roller Derby Wednesday. Carson’s own Victory Rollers are looking for fresh meat and are holding a six week class (off roller skates) to show everyone the ropes. They hope to see you tonight at Bordewich Elementary School. Just down the street, the Brewery Arts Center has an Improv workshop starting at 6:30 p.m. If you’ve wanted to attend the First Friday Improv, but have been a little shy, this is a great chance to learn about what goes on and how to jump in the fray. Be warned, you will probably have some fun.

Carson City Public Works Director Darren Schulz announced Wednesday that after reviewing proposals and finalist presentations, a city review and selection committee has selected Lumos & Associates to lead the Downtown Carson Street Urban Design Project.

The committee will enter into contract negotiations for a recommendation to the Board of Supervisors. The Board of Supervisors will then approve, disapprove or modify the contract. The contract is anticipated to begin February 5, 2015.

Forty-five years ago, in December 1969, President Richard Nixon signed a unique Bi-State Compact approving California and Nevada’s plan to create the Tahoe Regional Planning Agency. It was the first such undertaking of its kind, uniting two states, six local jurisdictions, and the federal government in a shared mission to protect Lake Tahoe’s sensitive environment from overdevelopment.

That effort has shaped the Tahoe we know and love today, and will help shape the Tahoe that we bequeath to future generations.

Nevada law firm Kaempfer Crowell will present a $3,500 donation on Friday to Honor Flight Nevada, a non-profit organization dedicated to transporting veterans to Washington, D.C. to visit memorials honoring their service and sacrifices. The presentation will take place at noon on the steps of the Laxalt Building in Carson City.

In Plain Sight Marketing founder Renee Taylor Plain and Carson City Mayor Bob Crowell each made $100 donations Monday to Holiday with a Hero. They are asking small business owners, those in local government and community members to give what they can.

In a recent “letter” published in CarsonNow.org Pamela Abercrombie decried the negative reaction of Silver City and Gold Hill residents to the Comstock Foundation’s fund-raising gambit offering prints of the “Nine Cheers for the Silver State” painting to subscribers. In characterizing critics of the painting as “this handful of local residents,” she echoes a favorite tactic of Corrado de Gasperis, Comstock Mining’s CEO who frequently diminishes the legitimate concerns of residents by portraying CMI critics as “a few disgruntled residents” or the like.

Reducing the amount of Nevada small business closures is the goal of a new monthly workshop designed to educate business owners on how to assess their venture prior to licensing and launch. According to the U.S. Small Business Administration, about half of all new establishments survive five years or more and about one-third survive 10 years or more.

The Carson City Chamber of Commerce and NV Energy's Sure Bet Program have partnered for a Wednesday, Sept. 10 energy savings workshop and free luncheon at the Carson Plaza.

The workshop is designed to help business owners and managers learn how to assess their energy needs and help customers determine where improvements can be made. It runs from 11:30 a.m. to 1 p.m.

For 2012 and 2013 if your business purchased equipment, you could claim the entire cost as a deduction in the year of purchase (up to $500,000). Until the law for 2014 is changed, the Section 179 deduction is limited to $25,000.

For 2014 we just don’t know yet. Congress may elect to make the Section 179 depreciation deduction the same as in 2013, but they have not acted on that yet.

Over the past year and a half, Greater Nevada Credit Union (GNCU), the area’s largest locally-based credit union, has seen more than 115% growth in its business lending portfolio. One of the credit union’s newest products, construction loans, is taking off just as rapidly, thanks to local businesses that want to expand, and the unique services offered by Greater Nevada to help them do it.

More than 120 volunteers for the League to Save Lake Tahoe removed 2,260 pounds of trash from six of Tahoe’s most popular beaches on July 5, the day after tens of thousands of people flocked to the lake to enjoy the July 4th festivities.

The debris represented almost 10 cubic yards, or a dump truck full, of trash. It included over 3,000 cigarette butts, 1,200 cans, 800 glass and plastic bottles, and 320 plastic bags. Other cleanup projects also included a 17th annual one by K&K Services.

Mark Twain said, “The secret of getting ahead is getting started.” In my line of work, I see a lot of dreamers. These dreamers love to make to-do lists in their heads, or visualize a prosperous future. But some of them fall prey to a little something I call broken starter syndrome.

The passion is there. The vision is there. However, when it comes to actually stepping on the gas, they have one foot on the brake. Fear of making the wrong decision, not being able to get it all done, or facing the unknown keeps these dreamers paralyzed and stagnant.

If you haven’t noticed by now, I love quotes. This weekend, I ran across this one by Walt Whitman. “Every moment of light and dark is a miracle.” It reminds me that life is cyclical and when the low cycles hit, we need to ask ourselves what we can learn from them to move forward.

There is something for everyone at a Friends of NRA banquet. From the moment you walk in, the atmosphere is brimming with excitement. Whether you’re keeping an eye on that unique item in the silent auction, trying your luck at the game tables, or just dining on some delicious food, you’ll be sure to have a good time. It’s a family-friendly event chock-full of everything from exclusive, limited edition merchandise, firearms, knives, art, jewelry, and more. Not to mention all the great people you’ll meet in the process!

Last year's callous, unnecessary killing of Rollie, the tiny pet dog, at the city animal shelter justifiably ignited community outrage. This one event resulted in a $41,000 settlement to Rollie's owner for the wrongful death of her dog, paid, of course, by Carson's residents and business owners. The terminated animal shelter manager, under whose watch Rollie died, is suing city taxpayers for wrongful discharge from her position.

Capital Crossfire takes on the Margins Tax this week as Karl Neathammer and Shelly Aldean speak with guest Karen Griffin with Faiss Foley Warren, a Las Vegas public relations firm that specializes in government relations.
The three discuss the Nevada Margins Tax Initiative and its predicted impacts on business, education and future economic growth.

The issue will be Question 3 in Nevada's November general-election ballot. If it is approved by a majority of voters, the tax would impose a 2 percent tax on a business' margins after allowable deductions are taken. Only businesses that gross $1 million annually or more will be subject to the tax.

Sunday I spent the day at the Reno Earth Day Festival with some friends. It was really nice to sit down on the grass, bask in the sun, and slow down for a while.

I had brought a few toys with me, four bubble guns and a hula hoop. While we were playing with the bubbles, I took a moment to observe the crowd around me — everyone “finding their happy” in their own way.

In 2014 the standard business driving mileage rate is 56 cents per mile. IRS adjusted that down from the 56.5 cents per mile in 2013.

If the business had four or less vehicles, it is OK to use the mileage rate instead of actual expenses. However, each vehicle’s tax basis (cost) is to be reduced by the depreciation component — 22 cents per mile. That will be important when the vehicle is sold.

I received an e-mail that asked why the non-profit Greenhouse Project (TGP) could sell mushrooms to Adele's Cafe (Adele's Facebook posting March 22nd). Supervisor Abowd is founder and president of TGP and co-owner with her husband Charlie of Adele's Cafe. The e-mail question and response follow.

Lyon County, Nevada was the fastest-growing county in the United States prior to the 2008 economic collapse took one of the biggest hits statewide in the foreclosure crisis. The state overall was one of the hardest hit nationally and the housing market is still in recovery.
A glimmer of hope was seen in 2013, as home values headed up while foreclosure rates headed down, according to a report from the Lied Institute for Real Estate Studies at the University of Nevada Las Vegas.

Carson City, NV — Eric Abowd, CEO and lead financial advisor at Abowd & Rose Financial Group, was recently awarded Chairman’s Club status from Massachusetts Mutual Life Insurance Company (MassMutual).

This is Abowd’s second year in a row qualifying for this elite award. Chairman’s Club recipients represent the top 10 annual producers of more than 5,000 agents nationwide and are considered the pinnacle of MassMutual’s sales force.

Nevada State Development Corporation partnered with Wells Fargo Bank to assist Foster Machining with an SBA 504 loan, allowing the machine shop to buy a new building at 5070 Sigstrom in Carson City.

Co-owner Scott Foster — who runs Foster Machining with his brother Timothy — said the company outgrew the 7,500 square-foot space it was renting, and turned to NSDC to buy a building that could more comfortably house its 20 employees and the shop and office space they needed.

The message to Joseph and Joan Truxler is simple and clear: Meet with us, come up with a solution and drop your lawsuit by April 4. If the suit isn't dropped by then the South Lake Tahoe 4th of July Fireworks display will be canceled.

(Editor's Note: This is the third What Works column by Carson City Business Coach Diane Dye Hansen. This column appears every Monday on Carson Now.)

Today, I want to talk to you about something that affects both business and life in general insecurity. There are many ways to feel insecure. We can feel insecure with ourselves, our talents, and our ability to achieve. Our jobs can make us feel insecure at times.

The Douglas County Sheriff's Office is warning residents about a scam in which business owners have been contacted and warned their utilities would be shut off because their bill is delinquent.

2014 standard business driving mileage rate is 56 cents per mile. IRS adjusted that down from the 56.5 cents per mile in 2013.

If the business had four or less vehicles, it is OK to use the mileage rate instead of actual expenses. However, each vehicle’s tax basis (cost) is to be reduced by the depreciation component – 22 cents per mile. That will be important when the vehicle is sold.

The mileage rate for medical travel and for moving expenses for 2014 is 22 cents per mile. That is reduced from the 2013 rate of 23 cents per mile.

This week on It's Your City, Bill Chernock, executive director of the Carson Valley Chamber of Commerce, discusses the region-wide Green Business Improvement Group program, otherwise known as Green BIG.

The Green Business Improvement Group is a cooperative made up of community leaders, environmental experts, and business leaders from Carson City, Douglas County and Lyon County.

Capital Business Network (CBN) meets every Wednesday. The meetings include a breakfast of your choice. The meetings are structured, but informal, and afford each member a chance to offer a short business commercial.

In addition, each member delivers a 10 minute presentation about his or her business to the general membership approximately once per quarter. Business issues, upcoming events, mixers, community events, trade shows, etc are discussed each week. Referrals are exchanged by the members and ideas are offered.

The Carson City Board of Supervisors is seeking applications from persons interested in serving on the Redevelopment Authority Citizens Committee.

There is one opening for “Citizen-at-Large,” one opening for “Business Operator or Property Owner: Redevelopment Area 1” and one opening for “Business Operator or Property Owner: Redevelopment Area 2” the terms shall expire in January 2016.