January 2023 message from the president of NYSCAR - by Dana Crocker

NYSCAR Board of Governors will be meeting on Tuesday, February 7, 2023, 11:00 am at the Crowne Plaza/Desmond Hotel in Albany. We are looking for another productive year and the offering of some great courses free to the NYSCAR membership. Also the Annual Conference will be held June 14-16, 2023 at the Turning Stone Resort and Casino in Verona. Save the date for great networking, education and fun! Chair Bob Strell and the committee look forward to welcoming you to the event!

This month, Frank Giudici will be instructing Introduction to Cost Segregation. February 21^st will feature Edward Smith, Jr. with an ethics/agency course and March 21 will feature Joseph Larkin, CCIM, SIOR teaching Real Estate Investment Measurements using Excel.

Introduction to Cost Segregation instructed by Frank Giudici.

When: Tuesday January 17, 2023 via Zoom

Time: 9:00 am – 11:00 am (two hours continuing education)

Registration fee: NYSCAR members – free; non-members – $40.00

Benefits of embracing cost segregation:

• Solidify client relationships…this is a tremendous tax savings value-add to offer clients who may not know any better;

• A legitimate reason to reconnect with clients (past/present/future). cost segregation is retroactive, which means anyone who owns commercial real estate (yes, both residential- and commercial-uses) dating back to the early-2000’s can still take advantage as part of their 2022 taxes without having to amend previous years’ tax filings;

• Generate more brokerage business…understanding how cost segregation works will allow brokers representing both buyers and sellers to close more business, and at a minimum, generate property interest;

• Personal gain…as licensed brokers you are considered real estate professionals (REP), a special designation on one’s taxes that allows for depreciation deductions from the ownership of CRE to be used to offset any/all types of income, including your spouse…REPs are able to take full advantage of cost segregation;

If you would like to take this course, please email Sherry Marr [email protected]. By January 13. Please include your 11-digit NYS license number

National Association of Realtors Library & Archives

Did you know that all Realtors have free access to over 10,000 eBooks and audiobooks, reference guides, research materials and more? Founded in 1923, the National Association of Realtors (NAR) Library & Archives offers an expansive variety of reference services and print and digital resources that are readily available for NAR members and state and local association staff. A member benefit. The valuable resources made available through the NAR Library & Archives are included at no extra cost as part of your NAR membership. Looking for insights into a real estate trend or help with a research project? Connect with one of our librarians to uncover relevant articles, book and audio titles, and more. From quick statistics to in-depth research projects, eBooks to archival research, we are here to help!

What can the NAR Library & Archives do for you?

• Provide Access to Over 10,000 eBooks & Audiobooks

• Update You on Popular Real Estate Topics

• Supply the Latest Journals & Articles

• Conduct Your Research for You

• Discover the History of the Real Estate Industry

• Add Your Contribution to the Story of NAR

Learn more at nar.realtor/library-archives

Dana Crocker is the president of NYSCAR and a licensed associate broker at Hunt Commercial Real Estate, Liverpool, N.Y.