Page 22 – North Central News, February 2013
TAKING CARE OF BUSINESS MONEY MATTERS
Health care law changes By Harvey Amwake, C.P.A.
Now that President Barack Obama has been reelected, the 2010 health care legislation he championed is likely to remain the law of the land. Although some provisions have already kicked in and many others are slated for 2014, here’s an overview of the key changes taking effect this year. • Medicare surtaxes. Two new Medicare surtaxes might affect highincome taxpayers. (1) A 3.8-percent surtax applies to the lesser of “net investment income” or the excess above $200,000 of modified “adjusted gross income” (AGI) for single filers and $250,000 for joint filers. (2) A 0.9-percent surtax applies to earned income above $200,000 for single filers and $250,000 for joint filers.
• Medical deductions. The “floor” for deducting qualified medical expenses is raised from 7.5 percent of AGI to 10 percent in 2013, but remains at 7.5 percent of AGI through 2016 for those aged 65 or over. • Flexible spending accounts. Previously, there was no limit on contributions to a flexible spending account (FSA) used for health care expenses. Now the limit on contributions to health care FSAs is capped at $2,500. • W-2 reporting. For the first time, W-2s issued in 2013 for wages paid in 2012 must show the benefit employees receive from employer-sponsored health plans. 2012 reporting is optional for employers issuing fewer than 250 W-2s. • Health care tax credit for small businesses. Less than half of the small businesses that qualify are taking advantage of a new tax credit. Under the health care reform law, small businesses may qualify for a tax credit if
they pay at least 50 percent of their employee’s health care premiums. To qualify the business must employ fewer than 25 employees (special treatment for less than full time employees), with average annual wages of less than $50,000. The maximum credit for tax years 2010 through 2013 is 35 percent of the premiums paid. For 2014 the credit increases to 50 percent. If you have failed to take the credit in prior years, you can still file an amended tax return and claim the credit. There’s much more to come. For details and planning guidance, talk to your financial adviser or contact our office. This article is for general information only and does not constitute financial advice. If you have any questions about financial matters, consult a professional tax adviser. Harvey Amwake, CPA, is a tax and small business consultant with the accounting firm of Harvey E. Amwake, PLLC, at 6232 N. 7th St., Suite 105. He can be reached at 602-753-0377 or by e-mail at Harvey@amwakecpa.com.
The Best Choice in Senior Living. You probably know Beatitudes Campus is here, but if you haven’t seen it for yourself lately, you’re in for a wonderful surprise. When you visit, you’ll begin to understand the freedom that comes from living at Beatitudes Campus. Simply put, residents enjoy the carefree lifestyle, and know they’ve planned for potential health care needs. With all the different residency options available here, you’re sure to find a choice that’s right for you or your loved one. Independent Living: Over 450 beautiful apartments and patio homes. Plaza View Assisted Living: Residential living with assistance. Health Care Center: Quality rehabilitation and nursing care.
Vermilion Cliffs: Award-winning advanced memory support. Virginia G. Piper Residences: Early memory support, now open! Beatitudes At Home: Reliable non-medical in-home assistance.
Call (602) 995-6100, or visit us at www.BeatitudesCampus.org. 1610 West Glendale Avenue, Phoenix, Arizona 85021 | www.BeatitudesCampus.org A not-for-profit ministry of the Church of the Beatitudes
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North Central News, February 2013 – Page 23
DIAMOND ’ IM S
TAKING CARE OF BUSINESS
Jewelry Repair Experience, Done on Site Honesty Buy, Sell, Trade and Integrity We buy Gold, Silver, Platinum, Diamonds, Coins and Valuables!
Bank employees gussy up homes for homeless More than 100 local volunteers with BMO Harris Bank recently readied 54 new apartment homes for individuals to move into—a key step in ending their long-term, or chronic, experience with homelessness. As a permanent supportive housing facility, Encanto Pointe at 4175 N. 9th St. will provide residents with the support they need to overcome issues related to long-term homelessness. BMO Harris Bank employees volunteered three weekends in a row to outfit the apartments, in addition to a $50,000 gift in support of Valley of the Sun United Way’s efforts to end homelessness. The Encanto Pointe facility is operated and developed by Native American Connections. It will be open for free public tours from 10 a.m. to 1 p.m. on Tuesday, Feb. 5. Bring a nonperishable food item for donation.
As seen on Channels 5 and 12! You can trust a jeweler. Take your valuables, gold and silver to Diamond Jim’s!
Gifts for your Valentine! Receive a long-stemmed rose and a box of chocolates with every purchase! BMO Harris Bank employees Teresa Avelar, left, and Angela Gustafson unpack kitchen items inside an apartment at the newly opened Encanto Pointe that will house a previously homeless family (photo courtesy of Valley of the Sun United Way).
6005 N. 16th Street N.E. Corner of 16th St. & Bethany Home
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ed daily on Angie’s List. Companies are graded on an A through F scale in areas ranging from price to professionalism to punctuality. For more information, visit www.angieslist.com.
Diamond Jim’s earns eBay seller award
Tree company earns Angie’s List award North Central-based Mike Macchiaroli Tree Company recently earned a 2012 Angie’s List Super Service Award, an honor given out annually to approximately 5 percent of all the companies rated on Angie’s List, a leading provider of consumer reviews on local service companies. Mike Macchiaroli Tree Company also was featured as one of the best contractors in Phoenix in the January Angie’s List publication. Service company ratings are updat-
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Diamond Jim’s, a jewelry store featuring custom jewelry and repair, opened its doors in 2008, just as the economy was beginning to slump. In order to counter the sluggish economy, owner Jim Kufeldt was inspired to take advantage of the Internet. He created an eBay store with almost 2,500 items listed for sale, both new and consignment. The store included everything from watches and coins to fine jewelry and more. Not only did the eBay store create a
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Page 24 – North Central News, February 2013
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TAKING CARE OF BUSINESS
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brand-new international market for Diamond Jim’s, it also drove local traffic and tourists to visit the Phoenix store, located at 6005 N. 16th St. In addition, the store recently was named a TopRated Seller from eBay, an elite designation that means the store offers, among other things, 24-hour handling and shipping as well as guaranteed satisfaction. From one part-time eBay associate, the store now has a department of four working full-time on Internet sales. Consignments are welcome. For more information, call 602466-1772 or visit www.DiamondJims4 Cash.com.
Long Realty opens north Phoenix branch
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Long Realty Camelback has opened a new branch office at the northwest corner of 7th Street and Thunderbird Road in north Phoenix. Franchise coowner and Branch Manager Dave Dix says, “We have been working with Dunkin’ Donuts to open this office for over a year. They are leasing a former bank building and we are leasing a por-
Every Day is Like Reliving Your First Kiss We have TONS of model home furniture and accessories! New shipments arrive daily, all priced at 30% to 80% off retail prices!
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tion of the space and sharing a lobby with them. It’s an appealing model for an office in the area and we have great expectations as this gives local homebuyers and sellers an easy option to explore their real estate options.” The new office is located at an intersection southwest of Lookout Mountain and will service adjacent communities across the northern areas of the Valley. As a branch office, Long Realty Camelback–Moon Valley will operate under Designated Broker Mike Bianchi. For more information, call 602-297-4000 or visit www.Long Realty.com.
Sprouts set to open on Feb. 13 North Central residents who bemoaned the closing of the Bashas’ store at 16th Street and Glendale Avenue can take heart, as Sprouts Farmers Market is readying to open there at 7 a.m. on Wednesday, Feb. 13. Sunflower Markets originally negotiated the deal to take over the vacant space near the I-51 freeway entrance, but thanks to a May 2012 merger with Sprouts, the new store will bear the Sprouts name. Grand opening details were sketchy at press time. For more information, go to Sprouts.com, click on Find a Store, and select “Phoenix–E. Glendale Ave.” or call the store at 602-385-2150.
MultiTable.com gives back to community During continued tough economic times, many businesses have had to cut their philanthropic activity. For one Valley company, however, this challenge just enforced its determination to help those in need. MultiTable LLC, located at 4501 N. 22nd St., Suite 220, has only nine employees yet managed to raise and donate more than $17,500 for local charities in 2012. MultiTable LLC manufactures height-adjustable desks and tables for the office and home office and makes them available for purchase through ecommerce site MultiTable.com. For more information, call 602-773-6911.
Learn to use social media for marketing Local business owners can learn how to better publicize their companies with “Social Media Marketing Made Simple,” 2-5 p.m. Tuesday, Feb. 26, at
www.northcentralnews.net
North Central News, February 2013 – Page 25
TAKING CARE OF BUSINESS
the SSC Boring Building located at 1951 W. North Lane. The program is presented by Greater Phoenix SCORE and the North Mountain Business Alliance (NMBA). The seminar will review the essential strategies and best practices a business or organization should understand to successfully get started with social media marketing. Participants will have time to ask questions, share experiences, and network. And they will leave with realworld insights and knowledge that they can put to work immediately, to help their business or organization succeed. Cost is $20 for NMCA Members and $25 for all others. For more information or to RSVP for either program, call 602-745-7250 or visit www.greaterphoenixscore.org.
Heinrich joins chamber, will lead lobbying efforts Chad Heinrich has joined the Greater Phoenix Chamber of Commerce as vice president of public affairs and economic development. Heinrich will spearhead the chamber’s lobbying efforts
at the state capitol, oversee the chamber’s public affairs and seven issue committees, and provide leadership for the chamber’s internal public affairs and economic development team. “Chad is respected in the legislative community and has a strong lobbying track record,” says Todd Sanders, Greater Phoenix Chamber of Commerce president and CEO. “We are confident his expertise, guidance, and leadership will result in many successful legislative cycles Chad Heinrich for the chamber and our member businesses.” Prior to joining the chamber, Heinrich served as government relations officer at the city of Tempe, where he represented the city’s interests at all levels of government. He has more than a decade of experience in state and local government, including a stint as the Deputy Secretary of State for the State of South Dakota.
New North Central Colonial Ranch Mini Estate 145 W. Glendale Avenue
New build from the ground up! 1.1 acres • 5 bedrooms • 5.5 baths • Approximately 5,400 SF • 10-foot ceilings Granite countertops throughout • 16 x 24 tumbled travertine and cherrywood floors Climate-controlled wine room • 400 amp service • Fire sprinklers throughout Seven-car garage with double 10-foot doors • RV parking • Three automated guard gates Enter and exit both Glendale Avenue and 3rd Avenue
WHERE CREATING FAMILY MEMORIES is an ENDURING TRADITION. For more than 110 years, the Phoenix Country Club has been a tradition for families seeking the very best in outdoor sports and a variety of dining and social experiences. In every way, it is a breathtaking refuge from the everyday, where golf and the good life have been enjoyed for generations. Phoenix Country Club is a private club and membership is accepted through sponsorship by current members. Please contact Colette Bunch to inquire about introductions and the membership committee process. MEMBERSHIPS AVAILABLE NOW.
Colette Bunch 602.636.9823 or cbunch@phoenixcc.org for more information: phoenixcc.org/request
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