April 24, 2017

Archives for February 2011

Angel Fire Resort News

Contrary to speculation, Angel Fire Resort’s official closing date for the current winter season remains Sunday, March 27. We intend to stay open through the end of the season with great skiing and boarding for our visiting guests. Please help share this information consistently.

Thanks, and here’s to a great March!

Dave Dekema
Angel Fire Resort

February Joke

An elderly woman lived on a small farm in Colorado, just yards away from the New Mexico border.

Their land had been the subject of a minor dispute between the two states for years. The widowed woman lived on the farm with her son and three grandchildren.

One day, her son came into her room holding a letter. “I just got some news, Mom,” he said. “The government has come to an agreement with the people in New Mexico. They’ve decided that our land is really part of New Mexico. We have the right to approve or disapprove of the agreement. What do you think?”

“What do I think?” his mother said. “Sign it! Call them right now and tell them we accept! I don’t think I can stand another Colorado winter!”

IRS Tips

Tax Changes for Small Businesses

During 2010, new laws, such as the Affordable Care Act and the Small Business Jobs Act of 2010, created or expanded deductions and credits that small businesses and self-employed individuals should consider when completing their tax returns and making business decisions in 2011.

Health Insurance Deduction Reduces Self Employment Tax

With the enactment of the Small Business Jobs Act of 2010, self-employed taxpayers who pay their own health insurance costs can now reduce their net earnings from self-employment by these costs. Previously, the self-employed health insurance deduction was allowed only for income tax purposes. For tax year 2010, self-employed taxpayers can also reduce their net earnings from self employment subject to SE taxes on Schedule SE by the amount of self-employed health insurance deduction claimed on line 29 on Form 1040.

Taxpayers can claim the self-employed health insurance deduction if the insurance plan is established under their business and if any of the following are true:

  • They were self-employed and had a net profit for the year,
  • They used one of the optional methods to figure net earnings from self-employment on Schedule SE, or
  • They received wages from an S corporation in which the taxpayer was a more-than-2-percent shareholder.

During tax year 2008, the most recent year for which data is available, the self-employed health insurance deduction was claimed on 3.6 million tax returns, reducing taxpayers’ adjusted gross incomes by $21 billion.

Save Money On Ink Cartridges

Help us raise funds through recycling.

  • It’s fun
  • It’s easy
  • It helps the environment

Recycle your empty inkjet cartridges and old cell phones today.

Drop your off today!

For more information check out the Planet Green Recycle Web site.

Host A Business After Hours Party

Business After Hours

  • Having a sale?
  • Offering new products or services?
  • Grand opening or anniversary?
  • Just looking for a reason to throw a party?

As a member in good standing you are eligible to host this event that will introduce both the Chamber and local communities to your business.

Business After Hours events are highly attended and entertaining.

Call to book it now!

Get on the schedule for 2011! Reserve your space now, call 575-377-6661.

Shop Angel Fire First

Keep our dollars local while promoting sustainability. With our reusable tote bag you will receive discounts and special offers when you present your bag at participating businesses. Only $5 each. One free to each Chamber member!

Mission – To increase and keep business local and to encourage businesses to offer specials to other member businesses and community members.

Product – Reusable tote bag made from 100% recycled materials. Available in 4 colors; line green, hunter green, royal blue and navy blue. Phone orders accepted at 575-377-6255..

Participating Businesses

  • Leisure Time Products
  • Music From Angel Fire
  • Angel Fire ArtSpace
  • Valley Auto Parts
  • Angel Fired Pizza
  • Experience Snow Boards
  • The Roasted Clove
  • The Valley Market
  • Kathy Dunbar Body Mechanics
  • RBS True Value
  • Early Bird Cafe and Bakery
  • The Trailhead
  • All About Design
  • Cottam’s Angel Fire
  • Enchanted Circle Pottery
  • Studio 434
  • CooperSoft
  • The Coffee House
  • Angel Fire Chamber of Commerce
  • Resort Properties
  • Aldura
  • The Pizza Stop

Check out our Facebook page for more information.

Angel Fire Resort News

Mardi Gras festivities will take place March 5 to 8 with a week of live entertainment, parades, bead toss and Fat Tuesday ball.

Welcome Hal’s Pals
March 5 to 8, 2011
Featuring Brad Brinkley

Schedule

  • Saturday, March 5 from 7:00 pm to 10:00 pm at the Village Haus
  • Sunday, March 6 from 7:00 pm to 9:00 pm at the Legends Grill
  • Monday, March 7 from 7:00 pm to 9:00 pm at the Legends Grill
  • Fat Tuesday, March 8 from 7:00 pm to 10:00 pm at the Village Haus

Locals Only, Local Clinic

Wednesdays now through March 2, 2011.

Did you miss it? Are your friends in it? Do you still want to come out for some fun? Locals lessons still available and the price is PRO RATED!

Includes a wine and cheese celebration March 2, 2011 at the Country Club. Each 3 hour lesson starts at 1:00 pm.

Please call Snowsports Services at 575-377-4383 to sign up.

Classes meet at the Ski & Snowboard School sign at the base of the Chile Express chairlift.

Must be 21 or older. Ski or snowboard. All abilities.

Notary Service

No charge to Chamber members. $2 per notarization for non members.

Chamber office hours are Monday to Friday from 9:00 am to 5:00 pm.

Current Events

Let’s party to welcome back Sharon Schultz to the Chamber!

When: Monday, March 21 from 5:00 pm to 7:00 pm

Where: The Atrium at Centro Plaza

See you there!

Business Brief

Smaller Firms More Vulnerable To In-House Larceny
June 5, 2009 by Jim Giuliano

In an economic downturn, small firms find themselves hit by more incidents of in-house larceny. Here’s why, and what to do about it.

First, the statistics. The Association of Certified Fraud Examiners looked at 959 cases of in-house fraud and embezzlement, and came up with the following conclusions:

  • The median loss in this study was $175,000.
  • The typical period between the time of the first act of fraud and the time someone was caught was two years. In other words, most of the instances of theft went undetected for long periods.
  • Most of the thefts were committed by first-time offenders – people who appeared squeaky-clean prior to getting caught. Only 7% of fraud perpetrators in the study had prior convictions, and only 12% had been previously terminated by an employer for fraud-related conduct.
  • Most of the perpetrators were caught as a result of tips from employees or others, rather than by audits (more on that below).
  • Most of the victims were small businesses – who thought their size was an advantage for keeping track of cash and the people who handle it.

To make matters worse, in-house fraud and embezzlement tend to worsen as the economy worsens, for at least two reasons:

  1. Cash-strapped employees get desperate and are more likely to scheme against their employers.
  2. Layoffs tend to leave holes in the usual controls designed to prevent fraud.

The ACFE study examined what might have been done to prevent fraud in the 959 cases:

  • Look for it in the obvious places. Fact is, fraud and embezzlement usually take place exactly where you’d expect: your accounting department that handles the money. There are variations of fraud and embezzlement – some in billing, some in accounts payable and so on. But no matter the variation, the problem usually exists in the accounting department.
  • Use checks and balances as much as possible. As mentioned above, many instances of fraud were uncovered as a result of tips: one employee’s noting misdeeds by another. (In a minority of cases, the tips came from customers, vendors and others.) One suggestion: Use cross-training and job rotation, so that one employee isn’t solely responsible for one area all the time.
  • Use surprise internal audits. Big, planned audits or those conducted by outsiders are effective and have their place, but the surprise internal audit remains the most effective deterrent and means of detection.

You can download the full 68-page report in PDF at www.acfe.com.