Free Business and Landlord Workshop - Oct 15th

You're Invited to attend a Free Business & Landlord Workshop

Hosted By Rick Blais

When:  Monday, October 15th 2012 from 7:00 - 9:00 pm
Where: Community Room, 50 Queen City Ave Manchester NH

REGISTER NOWClick to Register

Come and Learn About:

• New Tax Law changes coming your way in 2013
• What to do before December 31,2012
• Would Real Estate help me to Retire
• Making smarter business decisions to increase my profitability

A CPA and Attorney will be on hand to help prepare you for the 2013 tax changes. To reduce your taxes in 2013 you need to start today.

Don't get caught behind the 8-ball.  We will also have a discussion session to help with your own concerns. 

QUESTIONS or to register by phone?  
Call: 603-641-2527

September 2012 - Landlord News

2013 Tax Changes - Should You Be Worried?

Here's a look at the laws that could wage a multipronged attack on your wallet and what you can do to prepare.

Over the last few years, Americans have observed a series of tense Capitol Hill confrontations over what to do about expiring tax code provisions. While each was significant, their scale is dwarfed by what looms at the end of this year: Without action by Congress, Americans face a half-trillion-dollar tax hike in 2013, according to the Tax Foundation — a scenario so ominous that pundits have nicknamed it "taxmageddon."

While the outcome is anyone's guess, it's important to know what hangs in the balance and what it could mean for your bottom line.

What's at Stake	What Will Happen Jan. 1 Without Federal Action
Income Tax Brackets	Rates would rise for all Americans, with the lowest bracket rising from 10% to 15% and the highest from 35% to 39.6%.
Dividends	Would be taxed at the same rate as ordinary income — instead of today's 15% maximum rate.
Capital Gains	Maximum rate would rise to 20% from the current 15%.
Personal Exemptions and Itemized Deductions	Would be reduced for high-income taxpayers.
Alternative Minimum Tax	Without extension of temporary exemptions, more taxpayers will be snared by this parallel tax system.
Payroll Taxes	Individuals' share of Social Security taxes would return from the temporary 4.2% to the normal 6.2%; the self-employment tax rate would rise from 10.4% to 12.4%.
Estate Taxes	Maximum estate tax rate would rise to 55% from the current 35%; estates valued at more than $1 million would face the tax (versus the current $5 million).
Education Savings	The annual contribution limit for Coverdell Education Savings Accounts would fall from $2,000 to $500 and qualified withdrawals would no longer be permitted for K-12 expenses.
Child Tax Credit	Falls from $1,000 to $500.
Married Couples Filing Joint Returns	The expiration of features meant to address a so-called "marriage penalty" would reduce standard deductions and push many couples into higher tax brackets.
Adoption Credits Joint Returns	Maximum credit would fall from $13,360 to $6,000 and would only be available for special needs children.
Other Popular Tax Breaks Joint Returns	Deductions for state and local sales taxes, higher education and teachers' classroom supplies all would vanish.

An Uncertain Outcome

Adding to the pressure, members of Congress will grapple with these broad-reaching tax expirations while facing national elections and a related showdown over what they should do when the nation again reaches its debt ceiling. That is the amount of debt the federal government is authorized to have.

Don't expect a clear outcome anytime soon. "Frankly, it's unlikely that it will be resolved before the November 6 election," says Dan Brouillette, USAA senior vice president for government and industry relations.

A bipartisan group of senators has begun working in hope of having a package ready shortly after the election, Brouillette says. "However, their final product could depend on the election results."

As with many recent tax issues, the nation may get a short-term extension that preserves our current tax rules for a few months or a year or two. On the other hand, the resolution could come in the form of sweeping tax reform that stretches to other tax provisions that aren't set to expire.

Personal Tax Moves: Watch and Wait

Given all the uncertainty, what should USAA members do? J.J. Montanaro, a CERTIFIED FINANCIAL PLANNER™ professional at USAA, offers three pointers:

• Don't make big bets. "Since the outcome is unpredictable, I wouldn't make any big financial decisions based on an assumption that the tax debate will end one way or another," Montanaro says.
• Tighten your budget. "If your taxes do increase, you'll be better prepared. If they don't, you'll have a windfall to dedicate to other goals," he says.
• Stay alert. "Once the outcome is known, you may find it will be to your advantage to make some financial moves this year — under the current tax law," Montanaro says. For example, if you face higher capital-gains rates in 2013, it may be better to sell some of your investments sooner rather than later.

If recent experience is any guide, Congress may not act until late December. That means you may have limited time for those late-year decisions. Until then, keep monitoring for timely updates.

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NH Healthy Homes Conference - The Second Annual NH Healthy Homes Conference

Monday, October 15, 2012
Concord Courtyard by Mariott
Grappone Conference Center
Concord NH from 8:am - 4pmTo register online: Click here

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Nashua - Section 8 can be a valuable, but uncertain choice for Bronstein Residents

NH Landlord Legislative planning meeting Monday 9/17/12 at 2pm

From: Nick Norman, RPOA Director of Legislative Affairs

Howdee everyone,

It has been a while since I communicated with you. That’s because the legislative season of course settles way down over the summer. Most public legislative activity seems to happen from the first of the year through spring. I will continue to be in touch sparsely during the fall as more develops.

The most important thing to be considering right now is that due dates for proposing new legislation (for incumbents) are almost upon us. It is time to be proactive at proposing new legislation that is positive for property owners.

In that light, I am hosting a legislative planning meeting on Monday 9/17/12 from 2pm to about 4pm. Please send me your ideas for changes to NH real estate law that you would like to see. If you would like to attend our meeting and play at a more involved level please contact me at 603-432-5549 or email office@LandlordResourcesNetwork.com

Love & Light,
Nick Norman
RPOA Director of Legislative Affairs

In case you missed the first session!!

Understanding Bedbugs - Lunchbox Class

• Bed bugs are small, oval non-flying insects that feed by sucking blood from humans or animals.
• Bed bugs can live in any area of the home and can reside in tiny cracks in furniture as well as on textiles and upholstered furniture. They tend to be most common in areas where people sleep and generally concentrate in beds, including mattresses, box springs, and bed frames.
• Getting rid of bed bugs is not an easy process, and most cases of bed bug infestation will require treatment by a pest-control expert.

Learn about the basics of preventing an infestation and, if present, what must be done to eliminate them.

This class is presented by New England Health and Housing.

Location:
New England Health and Housing (Lead-edu)
251 Pine St
Manchester, NH 03103

Date & Time:
September 21st, 2012
12:00 Noon - 2:00 PM

Cost:
$30.00 (includes light lunch)

Thanks a lot!

 

Ben Kirkwood

251 Pine St.

Manchester, NH 03103

603 716-2901

603 203-6430 (cell)

K.Kirkwood Consulting, LLC

ben@kkirkwood.com

New England Health and Housing

Lead-Edu

www.lead-edu.info