2011 October :: The Construction Management Pro

Bush Era Tax Increase Scheduled for 2013

October 14, 2011

In a little more than a year from now, government agencies will be required to increase the amount of money they withhold from companies that perform public work. Congress is debating a bill to stop the withholding, but they need to hear from you to make sure it passes.

The withholding law, which was enacted by the Bush Administration in 2005, mandates that federal agencies, states, and certain local governments withhold three percent of nearly all of their contract payments, starting in 2013. This tax increase was used in part to allow them to claim they were reducing the Federal deficit. Compliance with this Bush Administration law will impose significant, unnecessarIn a little more than a year from now, government agencies will be required to increase the amount of money they withhold from companies that perform public work. Congress is debating a bill to stop the withholding, but they need to hear from you to make sure it passes. The withholding law, which was enacted by the Bush Administration in 2005, mandates that federal agencies, states, and certain local governments withhold three percent of nearly all of their contract payments, starting in 2013. This tax increase was used in part to allow them to claim they were reducing the Federal deficit. Compliance with this Bush Administration law will impose significant, unnecessary financial burdens on architecture firms and the deeply distressed construction industry that does business with any government agency, including many school districts, and will essentially give government an interest-free loan on the backs of small businesses.

 This withholding will be a flat percentage of revenues from government payments that bears no relationship to companies’ taxable incomes, and will restrict the cash flow that firms need for day-to-day operations and investments. In addition, it will impose substantial administrative and capital investment costs on businesses and governments struggling to comply – hitting small firms the hardest. Ironically, the provision will cost more to implement than it is estimated to raise in new revenue, which completely defeats its intended purpose. The House will soon take up H.R. 674, authored by Congressmen Wally Herger (D-CA) and Earl Blumenauer (D-OR), which would repeal this provision that is scheduled to take effect on January 1, 2013. Now is the time to tell Congress to repeal this Bush Administration law. Please take just a moment to send your members of Congress a message that this Bush Administration policy is sending us in the wrong direction. y financial burdens on architecture firms and the deeply distressed construction industry that does business with any government agency, including many school districts, and will essentially give government an interest-free loan on the backs of small businesses. This withholding will be a flat percentage of revenues from government payments that bears no relationship to companies’ taxable incomes, and will restrict the cash flow that firms need for day-to-day operations and investments. In addition, it will impose substantial administrative and capital investment costs on businesses and governments struggling to comply – hitting small firms the hardest. Ironically, the provision will cost more to implement than it is estimated to raise in new revenue, which completely defeats its intended purpose.

The House will soon take up H.R. 674, authored by Congressmen Wally Herger (D-CA) and Earl Blumenauer (D-OR), which would repeal this provision that is scheduled to take effect on January 1, 2013. Now is the time to tell Congress to repeal this Bush Administration law. Please take just a moment to send your members of Congress a message that this Bush Administration policy is sending us in the wrong direction.

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Property Management for Scattered Site Rental Property

October 4, 2011

A NeighborWorks® Place-based Training brought to you by the Network

October 17 & 18  9:00 AM – 4:00=PM

145 W Hanover St. Trenton, NJ

This two day course will explore how to manage geographically scattered and small-scale rental properties which pose a unique and difficult challenge in affordable housing ownership. A portfolio of small properties requires the owner to possess or obtain special property management skills. Management will not have the advantages of on-site property management staff, or the economies of scale a multiple-unit building provides. This course is designed to help the participant identify ways of mobilizing and adapting a management operation to effectively monitor the operational performance of a scattered-site real estate portfolio. Through case study analysis and discussion of best practices, participants will learn to identify and examine the different property management options available to best meet their organization’s needs. Approaches to keep such housing stock healthy and energy efficient will be addressed. A special module will cover the specifics of managing REO properties

Presented by Brett William, Neighborworks Training Institute

Fee: $150 Members/ Non Members $200.  (a savings of $295/$245 off this NeighborWorks® course) At this time we currently are NOT accepting electronic payments.  Registration includes Continental Breakfast, Breaks, Lunch and Workshop materials. Please address all checks and money orders to The Housing and Community Development Network of New Jersey and send to the following:

Housing and Community Development Network of NJ
attn: Scattered Site Rental Property Training
145 W Hanover Street
Trenton, NJ 08618
 
Event Location: HCDNNJ Conference Room
145 West Hanover Street
Trenton, NJ  08618
 
Parking and Directions
The session starts promptly at 9:00a on Monday, October 17 and Tuesday, October 18. ; We strongly recommend you arrive by 8:30am as parking is limited; Meter parking is available on the streets adjacent to our office, and there are surface parking lots in the vicinity as well.   DO NOT park in the Network’s parking lot, as these are reserved spots and subject to towing if occupied by non-authorized vehicles.  If you need directions, go to
www.hcdnnj.org and select Click Here to view Agenda

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Trenton’s new director of housing and economic development holds spotty business record

October 3, 2011

Let me know what you think this does to Trenton’s ability to move Housing and Economic development efforts forward?

Carmen Melendez, the city’s newly appointed acting director of housing and economic development, and her husband owe more than $50,000 in unpaid local and federal taxes,

Has failed to pay taxes due, NJ.Com reports.

3 failed business, federal taxes due!!

Read NJ.COM article here

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