Thursday, February 16, 2012

Primer on 3.8 percent federal tax that takes effect in 2013

On January 1, 2013, a new 3.8 percent federal tax will take effect.  The tax will benefit the Medicare program and was part of the healthcare legislation that was passed in 2010 (Obamacare).  The 3.8 tax applies only to income on certain investments earned by high income individuals and couples.

The urban myth about this tax is that it is a new tax on real estate sales.  While there are certain scenarios where a gain on a real estate transaction may be taxed, the tax does not apply to the real estate transaction itself.

The new tax applies only to individuals with $200,000 in adjusted gross income and couples with $250,000 in adjusted gross income.  In addition, the exclusion for capital gains on real estate still applies.

NAHB Member Advantage: GM $500 private offer is back

One of the staples of the NAHB Member Advantage program is $500 off of a GM vehicle.  NAHB announced this week that the GM private offer has been renewed for another year.

HBA members buying or leasing a GM vehicle can negotiate their best deal, and then turn in a certificate available from NAHB's website and take another $500 off.

Member Advantage is a program of discounts from a variety of businesses that any HBA member may use.  Simply click here and read about all of the discounts at

CNN: Census Bureau Reports New Home Starts Up

As reported in a story on CNN, the U.S. Census Bureau reported that housing starts rose to an annualized rate of 699,000 in January, up 1.5 percent from December and up 10 percent compared to a year ago.

Read the complete article from CNN by clicking here.

NAHB Member Advantage: Lowe's Discount continued throughout 2012

HBA members who participate in the Lowe's Accounts Receivable plan qualify for a 5 percent discount on their purchases from Lowe's.  Read more about the Lowe's Discount and other savings from NAHB by clicking here.

Monday, February 13, 2012

NAHB Board video features South Carolina's Rally for Homeownership

Last month more than 900 housing professionals visited the South Carolina State House to rally to support homeownership in South Carolina.  Featured speakers included Presidential Candidate Newt Gingrich, Congressman Jim Clyburn, State Treasurer Curtis Loftis, Columbia Mayor Pro Tem Leona Plaugh, NAHB Chairman Elect Barry Rutenberg, and HBASC President David Gully.

The video features statements from S.C. Governor Nikki Haley and Columbia Mayor Steve Benjamin.

Watch the NAHB Board video featuring the S.C. Rally for Homeownership by clicking here.