President's Corner
Dear Members,
It’s hard to believe it is January with this warm weather. But we all know winter weather is a sure thing to come! So we need to enjoy the warmer weather while we can.
Speaking of things to come, Expo Chair, Joey Carter and his committee have been hard at work on the largest and most important community event our organization holds, the 2012 Upstate’s Home & Garden Expo! Because of their determination and dedication along with the support of our sponsors, the Expo is looking to have another great year.
A BIG thank you goes to ALL of our Expo sponsors who continue to support the Expo. With “How To” workshops, our preview party and the exhibitor break room. Their support is paramount to the Expo and our organization. So please when you see any of the folks from the following sponsors, let them know how much we appreciate their support. Both of the LOWE’S stores teamed up together as our Platinum Sponsor. Piedmont Natural Gas is our Lifestyles sponsor. Builder’s 1st Source is our Preview Party sponsor. Both Ace Environmental and GBS Building Supply are Exhibitor Break Room sponsors. Again, we sincerely appreciate these member firms for their dedication and support.
Another exciting part of the Expo and one that is FREE to both members and exhibitors alike is the Preview Party! The Preview Party is when we kick off our 2012 General Membership Meetings (GMM) and recognize our HBA’s 2011 Builder and Associate of the Year. These distinguished recipients' were voted on by YOU, during our association’s elections which was held this past October. So mark you calendars now and plan to join your fellow members on Thursday, Feb. 9th, 6:30 PM at the Anderson Civic Center. This is also a great time to bring a guest, as this is the perfect place and time for them to experience how important a role our organization plays for our industry and in our community. We only ask that you help us by making your reservations by Tuesday, Feb 7th either by e-mail to hbaa@att.net or by calling the HBA office (864) 226-0347.
Another important note, the HBA office will start relocating to the Civic Center that Tuesday, so if we miss your call, please leave us a voice message with your reservations, as it will be checked often. So you see it’s not to late to participate and join us in the excitement and fun! Come and celebrate with us as we present awards, eat good food, network and fellowship. I look forward to seeing everyone at the Preview Party on Thursday, Feb 9th.
So you see it’s not to late to participate while good booths and sponsorships are still available! Don’t miss this wonderful opportunity to kick start your business in 2012.
Curt Lollis
President
Tax Information and Tips
Yes, it is that time of year that most of us dread. TAX TIME! From misc 1099’s and W2’s, to preparing your own 1040 tax returns, it can be an atrocious task. With that in mind the HBA of Anderson would like to share a couple of tax tips and reminders.
Dues payments made to the HBA of Anderson, includes membership dues to both the Home Builders Association of SC (HBA of SC) and to the National Association of Home Builders (NAHB). None of these dues payments are to be considered as deductions as charitable donations or contributions on your federal income tax returns. However, dues payments may be deductible as ordinary and necessary business expense, subject to the exclusions for the lobbying activity. Because a portion of your dues is used for lob-bying by both the HBA of SC (state) in the amount of $21.00 and NAHB (national) in the amount of $30.00, therefore a total of $51.00 is NOT deductible for income tax purposes. For our Affiliate members your portion is $2.40 that is NOT deductible.
Plug into this tax reduction, if you bought real estate in 2011, as you might be eligible for a property tax reduction. If you purchased real estate property in 2011 that was assessed at the 6 percent assessment ratio? The great news here is that you may be eligible for a property tax discount. The General Assembly enacted the Point of Sale Bill (H.3713) that among other things provides for a 25 percent reduction in the fair market value of property bought in 2011 and assessed at the 6 percent assess-ment ratio (commercial, rental, second homes).
In order to receive the reduction, a property owner must apply at the local tax assessor's office by January 30, 2012. To learn more about this deduction visit the Anderson County website: www.andersoncountysc.org or call 864-260-4028. If you purchased real property in another county contact that County Assessor for their county’s application.