Commercial Investment Real Estate is the magazine of the CCIM Institute, the leading provider of commercial real estate education. CIRE covers market trends, current developments, and business strategies within the commercial real estate field.
Issue link: http://cire.epubxp.com/i/443516
11 January | February | 2015 CCIM.com minimum compensation amount has been increased to $600 for 2015 and the maxi- mum compensation limit has been adjusted upward to $265,000. Employee Stock Ownership Plans. A lt hough t he dol lar a mount used to determine the lengthening of the f ve-year distribution period remains unchanged at $210,000, the maximum account bal- ance in the plan subject to a five-year distribution period has been increased to $1,070,000. Individual Retirement Accounts. The limit on annual IRA contributions remains at $5,500 with a catch-up contribution for those age 50 and over at $1,000. Traditional IRAs. The deductions for taxpayers making contributions to a tra- ditional IRA is phased out for singles and heads of households who are covered by a workplace retirement plan if they have modi- f ed adjusted gross incomes from $61,000 to $71,000. For married couples f ling jointly in which the spouse who makes the IRA contri- bution is covered by a workplace retirement plan, the AGI phase out is from $98,000 to $118,000. For an IRA contributor who is not cov- ered by a workplace retirement plan and is married to someone who is, the deduction has been phased out when the AGI is from $183,000 to $193,000. For a married person filing a sepa- rate return who is covered by a workplace retirement plan, the phase-in range is $0 to $10,000. Roth IRAs. T e AGI phase-out range for taxpayers making contributions to Roth IRAs is from $116,000 to $131,000 for sin- gles and heads of households, and $183,000 to $193,000 for married couples f ling jointly. For a married person f ling a separate return, the phase-in range is $0 to $10,000. Saver's Credit. T is is the retirement sav- ings contributions credit for low and mod- erate income workers and is available along with other tax savings that may apply. T e AGI limit has been increased to $61,000 for married couples f ling jointly, $45,750 for heads of households, and $30,500 for singles and married couples f ling separately. T e saver's credit helps of set part of the initial contribution workers voluntarily make to 401(k) plans, similar retirement plans, or IRAs. T e amount of the credit is 50 per- cent, 20 percent, or 10 percent of the annual retirement plan or IRA contribution, up to $2,000 for singles and heads of households and $4,000 for married couples f ling jointly. T e amount of the credit depends on the par- ticipant's AGI. T e above summary is not exhaustive and there may be other tax law changes that impact you or your business. Always consult with a tax professional with specif c questions since the laws and implementing regulations are subject to change. Mary Stark-Hood, JD, CFP, is president of the Hood Group, Inc., and serves as a consul- tant to the CCIM Foundation. Contact her at maryshood@comcast.net. Thank You The generosity of the following individuals, chapters, corporations, and foundations helps the CCIM Foundation achieve its mission: to advance and foster commercial real estate education through scholarships, programs, and initiatives. $10,000 + North Carolina CCIM Chapter St. Louis CCIM Chapter Taiwan CCIM Chapter $2,500-$4,999 Alabama CCIM Chapter Central Texas CCIM Chapter, Inc. Lou Nimkoff, CCIM South Carolina Association of Realtors $1,000-$2,499 cont. Shirley Harpool, CCIM Highland Commercial Mortgage Leil Koch, CCIM Thomas Nordstrom, CCIM PA/NJ/DE CCIM Chapter Christopher Patterson Duncan Patterson, CCIM Doug Sawyer, CCIM Sandy Shindleman, CCIM Southpace Properties, Inc. Patricia Tesluk, CCIM The Title Group, Inc. Ingram D. Tynes Shannon Walchack Robin Webb, CCIM $1,000-$2,499 Alliance Capital Corporation Adam Balzli Corley Moncus, P.C. Lary B. Cowart Barbara Lary Silvia Gangel, CCIM Susan Groeneveld, CCIM $500-$999 William Butler Andrew Chan, CCIM Ralph Duarte, CCIM Glynnis Fisher-Levitt, CCIM $100-$499 William Arant Don & Lois Arey Ernest Brown, CCIM Kathryn Byrd DG Mississippi, LLC John Hardin, CCIM Lauri Hines, CCIM Stephen Lazarus Mulkey Investments LLC Mary Schabacker Dewey Struble, CCIM To appear on the next donors listing, please make a donation of $100 or more at www.ccimef.org. $5,000 to $9,999 Chad Thomas Hagwood Mid-Atlantic CCIM Chapter Missouri CCIM Chapter $500-$999 cont. Griffin Group Consulting Pius Leung, CCIM Jeff Lyon, CCIM Patricia Lynn, CCIM Bill Moss, CCIM Red Rock Realty Group Charles Robinson Watts Realty Group David Wilson, CCIM The above donated to the Foundation between Jan. 1 and Dec. 1, 2014. e state education throu g h sc ho lars hi hi ps ps , , pro g rams, an an d in in it it ia ti ti ve v s. L S $ A A C L B S S To o a pp pp ea ea r on on t he he n ext donors li st t in in g, p le le as as e make a donation of $100 or more at