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Dennis Manzanares

Dennis Manzanares

Sunday, 13 October 2019 21:43

Social Security Increase for 2020

The cost of living adjustment (COLA) will increase Social Security benefits by 1.6 percent in 2020, an average of about $24 per month for individuals, the Social Security Administration announced Wednesday.

The increase for 2020 is notably less than the 2.8 percent bump received this year, but higher than the average over the past decade (1.4 percent).

The COLA will boost the average Social Security retirement benefit for a single person by $288 per year. The average retirement check is expected to be $1,479 in December 2019 before the COLA raises the benefit to $1,503 a month later, according to the administration.


The New Mexico Caregiver Leave Act helps family caregivers balance caring for their loved ones and their jobs. Here’s what you need to know:

  1. The New Mexico Caregiver Leave Act allows working family caregivers to use the sick leave they already earn to care for a family member.
  1. Leave can be used when a family member is sick, injured or has a medical appointment.
  1. Under the New Mexico Caregiver Leave Act, sick leave can be used to care for a child, spouse, domestic partner, sibling, parent, mother-in-law, father-in-law, grandchild, grandparent, or stepparent.
Monday, 01 July 2019 19:53

Latest on AIRBNB's

Airbnb will start collecting and remitting Gross Receipt Taxes administered by the State of New Mexico for all reservations booked on or after July 1, 2019. 

Guests will see a separate line item for the tax(es) when booking. Airbnb will collect and pay the tax(es) to the jurisdiction at the next filing due date. 


Will my payouts be affected? 

No. The tax(es) will be charged to guests. 


How do you know what tax(es) to apply to my listing? 

The tax(es) applied will be determined by the address you have entered for your listing. Please double check the details of your address in the Manage Your Space page to ensure you have entered a complete and accurate address for your listing. Airbnb will not be responsible for any tax collection errors due to a typo in the address. 


How can I see the amount of tax collected on my behalf? 

The amount is displayed in the Gross Earnings tab of your Transaction History


How will you be remitting tax on my behalf? 

We will be filing one tax return per jurisdiction with the total combined reservation revenue for all Airbnb bookings in the area. This means that all hosts will be represented by one payment amount, and we will not be providing your personal information on the return. We may provide your personal data only in cases where we receive a binding request by a competent authority pursuant to applicable law, including data protection laws, and our Privacy Policy


I’ve been collecting the above tax(es). What do I do now? 

You’ll no longer need to collect this tax for transactions completed through the Airbnb platform from guests who book their reservation on or after July 1, 2019. 


Are there other taxes that I need to collect? 

You are responsible for understanding and fulfilling all of your tax obligations. For a summary of the taxes collected by Airbnb for a listing, visit the Manage Your Space page and click Local Laws. If there are other applicable taxes that you need to collect from your guests, the process for collecting is outlined here. As always, you must be upfront about any such taxes with guests before booking. 


Do I have any other tax reporting obligations? 

You may be responsible for other tax reporting obligations. Please contact your respective taxing authorities for more information on what these obligations are. 


Do I have any other obligations related to my listing? 

You may be responsible for complying with local rules and regulations that apply to your listing. Please contact your respective local government agencies for more information on what these obligations are. 

Tuesday, 23 April 2019 16:25

2019 Social Security Trustees Report

Today, April 23, 2019, the Social Security Board of Trustees released its annual report on the current and projected financial status of Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) Trust Funds.

The combined funds reserves are projected to become depleted in 2035, one year later than projected last year, with 80 percent of scheduled benefits payable at that time. The DI Trust Fund reserves are estimated to become depleted in 2052, extended 20 years from last year’s estimate of 2032, with 91 percent of benefits still payable.

The new tax law updated the federal tax withholding tables and if you did not adjust your exemptions, you actually received more money in your paycheck throughout the year.

Since you got your money throughout the year, the actual money in your account was less and thus your tax refund was small.

It only makes sense that smaller refunds don't necessarily mean taxpayers have not benefited from the 2017 tax cut. Instead, lower tax rates and changes to withholding amounts mean that taxpayers got a boost to the paycheck or pension payments throughout the year. Most people are going to find that their overall 2018 tax liability is lower than before.

Monday, 21 January 2019 18:20


 Did you know that in New Mexico, where the only "real property" asset of the Decedent is their residential home, the surviving spouse who owns a home as community property can exercise the Homestead Exemption to avoid having to probate or file for administration of the Decedent's estate.
To see whether your home would qualify for this or other probate actions, contact me at 575-770-0902 to schedule an appointment.
Thursday, 03 January 2019 21:36

Social Security Update 2019


Social Security recipients will get a 2.8 percent cost-of-living adjustment (COLA) in monthly benefits beginning in January. The average individual retired Social Security beneficiary is expected to see a monthly benefit jump from $1,422 to $1,461. The estimated monthly increase is $39, or $468 a year.

Is the Social Security retirement age going up?

Yes. It has already increased from 65 to 66 and will be going to 67. These changes were mandated by Congress in 1983 as part of a law that strengthened Social Security's finances. Congress cited improvements in the health of older people and increases in life expectancy as reasons for raising the retirement age.

Currently, 66 is the full retirement age for people born between 1943 and 1954. Starting with people born in 1955, it will inch upward, rather than jumping right to 67. A person born in 1955 will have to be 66 and 2 months to be considered at full retirement age, someone born in 1956 will have to be 66 and 4 months, and so on. A person born in 1960 or later will reach full retirement age at 67.

Raising the age further is one of many possible changes to Social Security being discussed in Washington

Monday, 25 June 2018 00:40

The Estate Tax Law Under Trump

Compared to the late 1990s, the new Trump gift and estate tax laws are superb and protect family businesses, farms, couples, single parents, and families with many children and grandchildren.  After a review of the new tax law, it must be said that at this time, estate tax is not a problem for most folks unless you are very wealthy.

This new tax law helps protect families and children of means from becoming dependent upon society and taxpayers. In the past, the gift and estate taxes could virtually bankrupt a family farm or business while the children and grandchildren would then become dependent upon public assistance. These new laws help families pay for their own education, health, and housing and allows existing companies to maintain continuity.

However, the new tax law is a temporary law which gives rise to the strategic gifting opportunities. More on this in the next Blog.

Monday, 11 June 2018 14:57

Social Security Information

Did you know that if you damage or lose your Medicare card, you can order a replacement card easily with a "my Social Security" account. Having a personal my Social Security account helps free up your time to do other things that truly matter to you.
You can get full details at www.ssa.gov and if you need help, this Law Office is here to assist.
Using "My Social Security Account" - a quick 2 minute video.
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Call (575) 770-0902


The Manzanares Law Office is YOUR Taos Attorney for all your family and business needs including, wills & probates, real estate law, & small business consulting.


Contact Info

Manzanares Law Office
Physical: 1105 Luz del Sol
Mailing: PO Box 312
Taos, NM 87571

(575) 758-3619

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9:30 am to 4:30 pm