On an annual basis, the Maryland Association of REALTORS^® accepts applications for its outstanding Leadership Academy. The 2008 - 2009 Academy consists of 8 sessions, beginning on October 2, 2008 and ending on April 14, 2009 with a Leadership Recognition Ceremony. Applications to participate are due to MAR by August 1, 2008.

Don't miss this valuable opportunity to learn and grow in your professional and personal development. Click here for the application!

The non-resident seller transfer tax rate increased from 6.75% to 7.5% in the state of Maryland, effective as of July 1, 2008. Therefore, a new "Maryland Non-Resident Seller Transfer Withholding Tax Addendum" must be used for contracts entered into on or after July 1, 2008.

This new form is available through the HCAR.org Members Only Forms section.

 

The Board of Directors has appointed HCAR Secretary Mary Calder to the interim position of President-Elect to fill a vacancy created by the resignation of Karol Hess. Bianca Smith has been appointed as the Interim Secretary and Michael Ball as interim member of the Director to serve the remainder of the 2007/08 terms. We thank Karol for her tireless service to HCAR and the community.

See our full Board of Directors and our Committee leadership volunteers here.

The following applies to Mid Atlantic Realty Services, Inc (MARS) members that also have RAYAC SentriLock cards.

SentriLock will be issuing a new card, at no cost to you, which will replace your MARS and RAYAC cards within the next month or so. This new card will access both MARS and RAYAC properties and will alleviate the need for you to carry 2 cards. Until your new card is received from SentriLock your current RAYAC card will continue to work in the Pennsylvania region.

Please be advised that the only lock box that will be accessible by all agents in the Maryland region is the Gen II version that is currently utilized by MARS.

Questions? Please contact Mid Atlantic Realty Services, Inc. at 410-840-8003.

HCAR will be presenting an all-day Continuing Education program in conjunction with the Frederick Academy.

Thursday, July 17!
Earn Up to 7.5 CE Hours

at the Oakland Mills Meeting House
5885 Robert Oliver Place, Columbia, MD 21045

CE classes being offered:

Foreclosure: Law and Process

Anti-trust

Commercial Real Estate Broker's Lien Act

 
Click Here for Details and Registration!

Effective July 1, 2008, a standard mileage rate of 58.5 cents per mile applies to business use of operating a vehicle. If the tests for the standard mileage rate are met, employers reimbursing up to this amount to employees who have substantiated the business use of the mileage are considered to have met the accounting requirements for the vehicle use, and therefore no income reporting or withholding is required on these reimbursements.

The new rate applies to mileage expenses that are both incurred and reimbursed on or after July 1, 2008. Employees who are not reimbursed for business use of a vehicle by their employers may deduct 58.5 cents per mile for mileage incurred on or after July 1 on their individual income tax returns, if they meet the requirements to use the standard mileage rate. The announcement also raises the standard mileage rate for medical and moving expenses to 27 cents per mile. The rate for mileage for charitable contributions remains, by law, at 14 cents per mile.

Not all employers or employees qualify for use of the standard mileage rate, and in some cases actual expenses must be used to determine the allowable amount. For more information on the accountable plan rules and the standard mileage rate, see section 5 of IRS Publication 15 (this publication does not reflect this rate increase). Additional information is available at IRS.gov.