|
President's Message By Todd Brisco
What’s Hot at the Association
In keeping with this issue’s theme "What’s Hot, What’s Not" the most impactful aspect of 2010 are the newly elected officers of the Board of Directors.
Assisting me with my presidential duties
again this year will be Elaine Hutchison of
Paragon Equities who will serve as Administrative
Vice President.
Our Government Affairs Council will be
divided into Federal Government Issues
headed by Malcolm Bennett, State Legislative
Committee co-chaired by Carol Chen
of Prudential California Realty and Kari
Negri of Sky Properties, and Local Government
Affairs chaired by Marial Sanders
of Western Property Management.
Brad Ward of Ward’s Appliances and an
independent property owner will serve as
secretary while Kurt Wood of Belmont Brokerage
and Management will serve as
treasurer. Paul Menezes will continue as
parliamentarian and Ed Arnold will serve
as membership chairman.
Bill Moseley of CUBS will oversee the PSC
this year and Lucille Aresco-Crowley of
Beach Front Property Management will
chair the MSC. Co-chairs for the Education
Committee will be Burt Sirota of the
Apartment Finder and Brandon Grey of
Essex Property Trust. Evelyn Arnold of
Century 21 Excellence will serve as PAC
chair.
Our for-profit, wholly-owned subsidiary,
OCAJ, will have the following leadership
team: President Clive Graham, Vice President
Leonardo Wilborn, Secretary Steve
Bogoyevac and Treasurer Kirk Davey.
I look forward to working with each of
these dedicated individuals this year.
Also “hot” at AACSC this year is our
involvement with the National Apartment
Association. Our new affiliation with NAA
brings many benefits to you, our members,
beginning with educational opportunities
(online learning) and a subscription
to “Units” magazine, as well as
excellent advocacy in Washington, D.C.
You are invited to participate in the 2010
Capitol Conference of NAA March 7 – 10 in
Washington, D.C. “Make Your Voice Heard”
is the theme of the conference where all
affiliate members are invited to meet with
Congressional delegations, lobby for our
industry and learn first hand about our
government in action.
Although the meeting is complementary,
attendees are responsible for their own
transportation and accommodations
(Omni Shoreham @ $269 per night single/
double occupancy). Attendees must register
in advance by February 9th online at
www.naahq.org/events/CapConf.
What's Not
Members are reminded that if they manage
California property for an out of state
owner, the California Franchise Tax Board
requires him/her to withhold seven percent
of the net rents. Beginning January
1st of this year the withholding must be
submitted each quarter with a Form 592.
Failure to do so will incur penalties
payable to the FTB.
The amount that you are required to withhold must
be submitted each quarter to the FTB with a Form
592. Before the end of January of the following year,
the property manager is required to deliver to the
owner a Form 592-B showing the total amount
withheld during the preceding year.
There are certain non-resident owners who may
qualify to avoid withholding, including, for
example, ownership entities qualified to do
business in California, owners with a permanent
place of business in California and owners who
have obtained a waiver from the FTB. In order to
avoid paying fines and/or penalties, property
managers may request that the owner obtain a
Form 590 or Form 588 that serves to permit
managers to avoid withholding money otherwise
required by the FTB.
Should you have additional questions please see
FTB Publication 1017.
Form copies are available online:
FTB Form 590 – Withholding Exemption Certificate
http://www.ftb.ca.gov/forms/2009/09_590.pdf
FTB Form 588 – Nonresident Withholding Waiver
Request
http://www.ftb.ca.gov/forms/2009/09_588.pdf
- Federal Legislative Committee
- State Legislative Committee
- Local Legislative Committee
- PAC (Political Action Committee)
- Education Committee
- Management Service Council (MSC member)
- Product Service Council (PSC member)
- Golf Committee
- Trade Show Committee
- Forms Committee (changes as dictated by law)
- Legal Committee (determines AACSC participation in legal challenges)
- Membership Committee
|