Being a member of NAHB has many perks, including access to great deals through your HBA’s Member Savings program. Members can enjoy discounts on everything from new computers to building supplies to vehicles.
Members can now add entertainment and travel to that list, thanks to a new affinity program with Entertainment Benefits Group (EBG). EBG, an e-commerce company, owns and operates the largest entertainment, sports and travel benefits program in the country. Products and services include:
- Theme parks (e.g., Disney, Universal Studios, SeaWorld)
- Movie tickets (including AMC, Regal, Cinemark, and more)
- Top shows and concerts
- Tours and attractions
- Zoos and aquariums
- Ski lift tickets and rental equipment
EBG serves more than 40,000 companies, providing more than 50 million employees with access to exclusive perks nationwide.
Learn more about these member perks from EBG and other important members savings programs at the NAHB Member Savings page.
Your Association is Working for You to Save Your Business Money
The Tax Reform Act of 2017 made meaningful change to the Federal tax code that has helped stimulate our country’s economy. It also created some confusion and unknowns. But your Home Builders Association and other associations have been working hard with the IRS to get you some answers and create the best outcome for your businesses.
IRS to Waive 2018 Withholding Penalties for Most Filers
The Internal Revenue Service has announced that it is waiving the tax penalty for many home builders and other small businesses that pay estimated quarterly taxes but whose 2018 federal income tax withholding and/or estimated tax payments fell short of their total tax liability for the year.
Treasury Issues Final Rule on Pass Through Entities
The Treasury Department has issued final regulations for the 20% pass through entity deduction under the Tax Cuts and Jobs Act of 2017. The final regulations concern the deduction for qualified business income under Section 199A of the Internal Revenue Code. This includes individuals, partnerships, S corporations, trusts, and estates engaged in domestic trades or businesses.
(the following content sourced from the National Association of REALTORS)
IRS Provides Clear Test on How 20% Deduction Applies to Rental Income, Exchanges
The IRS has issued final rules on the 20 percent business income deduction that was part of the 2017 Tax Reform Act. The new rule confirms that the deduction applies to your business income, as a real estate agent or broker, if you operate as a sole proprietor or owner of a partnership, S corporation, or limited liability company. It applies even if your income exceeds a threshold set in the law of $157,500 for single filers and $315,000 for joint filers. In addition, the new rule provides guidance on two other provisions: 1) whether any real estate rental income is eligible for the deduction, and 2) how the deduction applies to properties exchanged under Section 1031.
Eligibility of rental income
Rental property income also can qualify for the new deduction, as long as you can show that your rental operation is part of a trade or business. The IRS has released proposed guidelines that include a bright-line test for showing that rental income rises to the level of a trade or business. Under that safe harbor, you can claim the deduction if your rental activities-which include maintaining and repairing property, collecting rent, paying expenses, and conducting other typical landlord activities-total at least 250 hours a year. If your activity totals less than that, you can still try to take the deduction, but you will have to be prepared to show the IRS that your activity is part of a trade or business.
Eligibility of 1031 like-kind exchanges
Under earlier proposed regulations, if your income was above threshold levels set in the tax law–$157,500 for single filers, $315,000, for joint filers–and you had exchanged one property for another to defer taxes under Sec. 1031, the amount of the new deduction might be reduced because of the swap. NAR and other trade groups reached out to the IRS to change this treatment, and the IRS has made the change. Under the final rules, you can use the unadjusted basis of the depreciable portion of the property to claim at least a partial deduction.
The Fifth Circuit Court of Appeals in December ruled that the Department of Labor can cite general contractors for workplace safety violations that put subcontractors’ workers in danger. The case explored the legality of OSHA’s multi-employer citation policy.
The National Association of Home Builders has been challenging the multi-employer work site doctrine for years, and filed an amicus brief, along with the Texas Association of Builders and other construction groups, in the case, Acosta v. Hensel Phelps Construction Co.
Read the full report by clicking here.
Dr. Robert Dietz
Get your tickets now!
2019 is almost upon us. Start your year off right with a forecast of the industry for the year ahead.
- When: January 22, 11:30 a.m.
- Location: Greenville Convention Center
- Keynote Speaker: Robert Dietz, Ph.D., Chief Economist, National Association of Home Builders
The event is hosted by the HBA of Greenville, Greater Greenville Association of Realtors, Upstate Mortgage Lenders Association, and the Greenville Chamber of Commerce.
Make a day of it! Prior to the luncheon be sure to register for the mornings education sessions….more information to come.
Tell attendees about your business by setting up a vendor table at this event for $195 and showcase your product or services to the 300+ attendees. You can sign up using this registration link or by calling the HBA of Greenville office at 864-254-0133.
HBA members can save enough money to fund their Christmas giving, and their membership dues, with the savings available through the discounts and rebates available from our member savings programs.
Your HBA brings these savings to you through three programs:
In partnership with the National Association of Home Builders, NAHB Savings includes discounts at Lowe’s, Chevrolet dealers like Kevin Whitaker Chevrolet, and much more. Visit NAHB.org/savings
for all the news on this program.
HBA Member Rebate Program:
This program provides rebates to builders on the products you are already using in the homes you build. Simply complete the report every quarter and wait for the checks to roll in. Some HBA members have received as much as $20,000 over the years from this great program. Visit HBASCRebates.com
for more information.
National Purchasing Partners:
Like NAHB Savings, members can get discounts on products and services they need for their businesses including Verizon Wireless and Sherwin Williams Paint. Visit MyNPP.com
Your HBA also receives rewards from these great programs. Everytime you save, your HBA also receives a royalty that helps us pay for the education and advocacy that we provide to our members.