Thursday, April 7, 2011
Tuesday, April 5, 2011
HOME BUILDERS APPLAUD CONGRESSIONAL PASSAGE OF 1099 REPEAL
WASHINGTON, April 5 - The Senate today approved legislation supported by the National Association of Home Builders (NAHB) to repeal a burdensome tax paperwork requirement that could cost small businesses thousands of dollars each year. The bill now goes to President Obama for his approval.
"During the past several months, NAHB has led the effort along with other industry groups to strike all new expanded IRS Form 1099 reporting requirements for small businesses and owners of rental real estate," said NAHB Chairman Bob Nielsen, a home builder from Reno, Nev. "In testimony before Congress and in 'key vote' letters to House and Senate leaders, we have spelled out how failing to overturn these rules would kill jobs and place a major paperwork and cost burden on home builders. We applaud Congress for acting to rectify this situation and urge the President to quickly sign this measure into law."
Under the Patient Protection and Affordable Care Act approved last year, starting in 2012 businesses would have to file an IRS Form 1099 for each vendor from whom they purchase more than $600 in goods over the course of the year.
The annual $600 threshold applies to all vendors, so that businesses could find themselves sending out 1099 forms for such mundane purchases as coffee, fuel and office supplies. Rather than hiring additional workers to expand and grow, small businesses would be spending money on accountants and bookkeepers in order to keep up with these new requirements.
To prevent small businesses from drowning in these onerous paperwork requirements, the Senate by a vote of 87 to 12 passed the Small Business Paperwork Mandate Elimination Act of 2011 (H.R. 4), legislation previously approved by the House. In addition to repealing expanded 1099 requirements in the healthcare law, H.R. 4 also repeals an unfair provision in the Small Business Jobs Act of 2010 stipulating that independent landlords as of Jan. 1, 2011 must submit 1099s to firms to which they give more than $600 for services.
Going forward, businesses will still have to comply with long-standing reporting requirements for the purchase of services.
"During the past several months, NAHB has led the effort along with other industry groups to strike all new expanded IRS Form 1099 reporting requirements for small businesses and owners of rental real estate," said NAHB Chairman Bob Nielsen, a home builder from Reno, Nev. "In testimony before Congress and in 'key vote' letters to House and Senate leaders, we have spelled out how failing to overturn these rules would kill jobs and place a major paperwork and cost burden on home builders. We applaud Congress for acting to rectify this situation and urge the President to quickly sign this measure into law."
Under the Patient Protection and Affordable Care Act approved last year, starting in 2012 businesses would have to file an IRS Form 1099 for each vendor from whom they purchase more than $600 in goods over the course of the year.
The annual $600 threshold applies to all vendors, so that businesses could find themselves sending out 1099 forms for such mundane purchases as coffee, fuel and office supplies. Rather than hiring additional workers to expand and grow, small businesses would be spending money on accountants and bookkeepers in order to keep up with these new requirements.
To prevent small businesses from drowning in these onerous paperwork requirements, the Senate by a vote of 87 to 12 passed the Small Business Paperwork Mandate Elimination Act of 2011 (H.R. 4), legislation previously approved by the House. In addition to repealing expanded 1099 requirements in the healthcare law, H.R. 4 also repeals an unfair provision in the Small Business Jobs Act of 2010 stipulating that independent landlords as of Jan. 1, 2011 must submit 1099s to firms to which they give more than $600 for services.
Going forward, businesses will still have to comply with long-standing reporting requirements for the purchase of services.
Cars & Cards
Please join us for "Cards and Cars" on Monday, April 11th at Benzie Watson Chrysler Dodge Jeep in Benzonia. These new members will host our April General Membership Meeting. Their dealership is just a short 30 minute drive from Traverse City. Come on over and test drive some of the phenomenal new cars and trucks on the lot.
The Ride and Drive begins at 4:30 p.m.
Networking and dinner will begin at 5:30 p.m.
The Builder Forum on Upfit Truck Equipment will begin at 6:00 p.m. There you will learn about the special vehicle pricing available from Watson Benzie for HBA members.
We are trying something fun and new to encourage you to attend. In the next few days, you will receive your first 3 playing cards to start your Winning Hand! The HBA member with the best 5 card poker hand at the end of the evening will be awarded golf for 4 at Lochenheath!
Please RSVP by next Friday, April 8th.
Looking forward to seeing you there. Lets have a great showing for our active members on the fringe of our 5-county area!
The Ride and Drive begins at 4:30 p.m.
Networking and dinner will begin at 5:30 p.m.
The Builder Forum on Upfit Truck Equipment will begin at 6:00 p.m. There you will learn about the special vehicle pricing available from Watson Benzie for HBA members.
We are trying something fun and new to encourage you to attend. In the next few days, you will receive your first 3 playing cards to start your Winning Hand! The HBA member with the best 5 card poker hand at the end of the evening will be awarded golf for 4 at Lochenheath!
Please RSVP by next Friday, April 8th.
Looking forward to seeing you there. Lets have a great showing for our active members on the fringe of our 5-county area!
Friends of Housing Golf Outing
Spring has sprung and it will soon be time to swing those golf clubs! It's hard to believe this is our 10th year on the links. Friends of Housing will again be spending the day at Hawk Hollow Golf Course raising money so we can support those legislators who are taking the tough votes needed to turn Michigan around.
This year's outing will take place on Monday, June 20, 2011. Mark your calendar and get your foursome together. The early bird rate is $99.00, so don't delay and register today!
Sponsorship opportunities are available and you can contact Dawn Crandall at crandall.dawn@mahb.com or at 517-646-2567. We look forward to seeing you on June 20th!
New Homes Strengthen Economy Year-Round
WASHINGTON, April 4--While the housing industry celebrates New Homes Month in April, home builders want Americans to know just how much of a positive, direct impact residential construction has on the U.S. economy throughout the entire year.
"Home building is a key driver of the American economy," said NAHB Chairman Bob Nielsen, a home builder from Reno, Nev. "By generating economic activity including new income and jobs, purchases of goods and services, and revenue for local governments, housing--which has historically accounted for around 17 percent of the GDP--can put America back to work."
Economists at the National Association of Home Builders estimate that the one-year local impacts of building 100 single-family homes in a typical metro area include $21.1 million in local income, $2.2 million in taxes and other local government revenue, and 324 local jobs.
The employment effects extend beyond the home building industry. About half of the jobs are in construction, with the other 50 percent creating employment opportunities in industries ranging from production and sales of home furnishings to service providers such as real estate attorneys and landscapers.
Those 100 new homes also provide the community with additional, annually-recurring impacts of $3.1 million in local income, $743,000 in taxes and other revenue for local governments, and 53 local jobs.
The income earned from construction activity is spent and recycled in the local economy, and the new homes that are built become occupied by residents who pay taxes and buy locally produced goods and services. Those tax revenues help pay for a wide range of government services, including local school teachers, police departments and road repairs.
In order to accommodate population growth and necessary replacement of older homes, however, a long-run trend of approximately 1.7 million new homes a year is needed. Yet as of February 2011, the annual projection for housing starts stood at less than 500,000.
"The gap between actual home starts and what is required to fulfill America's future housing needs represents more than 3 million jobs," said Nielsen. "Restoring the health of the housing industry is a crucial first step in stabilizing our country's path to economic recovery."
During New Homes Month, home builders also bring attention to the advantages of newly-built homes, including safety, amenities, energy efficiency and floor plans to fit a wide variety of modern lifestyles. Combined with today's near record-low interest rates and competitive prices, the current market offers new home buyers unprecedented opportunities.
Home buyers can access resources to help guide them through the home-buying process on NAHB's website at www.nahb.org/forconsumers.
"Home building is a key driver of the American economy," said NAHB Chairman Bob Nielsen, a home builder from Reno, Nev. "By generating economic activity including new income and jobs, purchases of goods and services, and revenue for local governments, housing--which has historically accounted for around 17 percent of the GDP--can put America back to work."
Economists at the National Association of Home Builders estimate that the one-year local impacts of building 100 single-family homes in a typical metro area include $21.1 million in local income, $2.2 million in taxes and other local government revenue, and 324 local jobs.
The employment effects extend beyond the home building industry. About half of the jobs are in construction, with the other 50 percent creating employment opportunities in industries ranging from production and sales of home furnishings to service providers such as real estate attorneys and landscapers.
Those 100 new homes also provide the community with additional, annually-recurring impacts of $3.1 million in local income, $743,000 in taxes and other revenue for local governments, and 53 local jobs.
The income earned from construction activity is spent and recycled in the local economy, and the new homes that are built become occupied by residents who pay taxes and buy locally produced goods and services. Those tax revenues help pay for a wide range of government services, including local school teachers, police departments and road repairs.
In order to accommodate population growth and necessary replacement of older homes, however, a long-run trend of approximately 1.7 million new homes a year is needed. Yet as of February 2011, the annual projection for housing starts stood at less than 500,000.
"The gap between actual home starts and what is required to fulfill America's future housing needs represents more than 3 million jobs," said Nielsen. "Restoring the health of the housing industry is a crucial first step in stabilizing our country's path to economic recovery."
During New Homes Month, home builders also bring attention to the advantages of newly-built homes, including safety, amenities, energy efficiency and floor plans to fit a wide variety of modern lifestyles. Combined with today's near record-low interest rates and competitive prices, the current market offers new home buyers unprecedented opportunities.
Home buyers can access resources to help guide them through the home-buying process on NAHB's website at www.nahb.org/forconsumers.
Monday, April 4, 2011
Roger Papineau Appointed to Represent Residential Builders
Roger been active in the creation, promulgation and enforcement of codes on the national state and local levels and has served several times as the chair of the MAHB’s Building Code Committee. As a member of the Building Officials Code Administrators International and its successor the International Code Council (ICC) Roger has attended and testified at almost every public hearing and final action hearing held by the ICC starting in 2001 through 2009. There are four such hearings in each three-year code cycle. These hearings run between 8 to 14 hours each day and last anywhere from seven to twenty-one days.
On the state level, Roger represented home builders on three state-appointed Building Code Review Committees and two Energy Code Review Committees, serving as the chair for the 2009-2010 energy code review committee.
Our congratulations go out to Roger and our thanks go out to Don Pratt for his many years of service to the industry.
Save the Mortgage Interest Deduction - Get Involved
NAHB has set up a website, www.SaveMyMortgageInterestDeduction.com that features the latest reports, analysis and news on the benefits of preserving the MID, and encourages visitors to sign up to receive important updates.
We urge you to visit this site, sign up for alerts and encourage your members, consumers and friends of the industry to sign up as well and join us in this important campaign.
Here are some suggestions and resources to help you get the message out:
1. Encourage your members and consumers to call on Congress to support the MID, including sending an urgent request for cosponsors on House Resolution 25.
2. Add a button to your website directing people to the SaveMyMortgageInterestDeduction.com site.
3. Submit a Letter to the Editor to your local newspaper encouraging readers to support saving the MID.
4. Familiarize yourself with the MID talking points so you can respond to questions from the media.
5. Sign up for Facebook and Twitter updates. Go to www.facebook.com/SaveMyMID and click “Like,” and follow our Twitter updates at www.twitter.com/SaveMyMID.
6. Add the SaveMyMID Twitter box to your website. Go to https://twitter.com/about/resources/widgets/widget_profile, type in “SaveMyMID” into the box, grab the code and place it on your website.
We urge you to visit this site, sign up for alerts and encourage your members, consumers and friends of the industry to sign up as well and join us in this important campaign.
Here are some suggestions and resources to help you get the message out:
1. Encourage your members and consumers to call on Congress to support the MID, including sending an urgent request for cosponsors on House Resolution 25.
2. Add a button to your website directing people to the SaveMyMortgageInterestDeduction.com site.
3. Submit a Letter to the Editor to your local newspaper encouraging readers to support saving the MID.
4. Familiarize yourself with the MID talking points so you can respond to questions from the media.
5. Sign up for Facebook and Twitter updates. Go to www.facebook.com/SaveMyMID and click “Like,” and follow our Twitter updates at www.twitter.com/SaveMyMID.
6. Add the SaveMyMID Twitter box to your website. Go to https://twitter.com/about/resources/widgets/widget_profile, type in “SaveMyMID” into the box, grab the code and place it on your website.
Subscribe to:
Posts (Atom)