News For Your Week Ahead: May 13, 2022

Matthew Pollard joined Executive Director Bill Feehley to tell you how he will help you create a Rapid Growth Practice which is your ticket to higher profits and less stress.

Matthew Pollard is an internationally recognized consultant, speaker, blogger, author, mentor, coach, and serial entrepreneur with five multi-million dollar business success stories under his belt, all before the age of 30. He is the founder and CEO of Rapid Growth, LLC, dedicated to achieving maximum ROI for businesses of all sizes.

Drawing from over a decade of experience growing his own businesses to multiple millions – as well as his transformative work with thousands of clients – Matthew Pollard reveals his tried and tested Rapid Growth® blueprint. This is his signature A-Z system, proven to propel even the most unprofitable business into unstoppable momentum and growth.

Learn More!

Coming Up: On Thursday, May 19 at 12 p.m. Rob Smith of Liscio will join us again for another episode in his Lunch & Learn series on Office 365. View our episodes live on LinkedIn, Facebook, YouTube, and Twitter! If you have questions for the speaker, you can ask them directly in the comments section of the stream on all platforms.

Delaware – Property Tax: Law Imposing Tax on Gross Rental Income Passed | via Wolters Kluwer IntelliConnect

For property tax purposes, Delaware passed a law imposing a tax on gross rental income. The law authorizes the Mayor and Council to impose a gross receipts tax of no more than 3% on:

  • the gross rental income of any lot where there are recreational facilities for recreational vehicles, load or truck campers, camping trailers, trailers, motorhomes, or cottage type structures located within the Delaware city boundaries; and
  • rents or lease payments from apartments and other leased premises that are not subject to city property taxes located within the Delaware city boundaries.

Ch. 299 (S.B. 238), Laws 2021, effective April 28, 2022

Virginia – Property Tax: Special Commissioner Appointment, Coveyance of Real Estate with Delinquent Taxes Authorized | via Wolters Kluwer IntelliConnect

For Virginia property tax purposes, enacted legislation amends the delinquent tax land provisions. The legislation authorizes localities to petition a circuit court to appoint a special commissioner to convey certain real estate with delinquent taxes to a locality’s land bank entity or an existing nonprofit entity designated to carry out the functions of a land bank. The legislation also allows real estate that contains a derelict building and has delinquent taxes exceeding 10% of its assessed value to be conveyed by a special commissioner to the locality, the locality’s land bank entity, or a qualified nonprofit entity. Additionally, a land bank or qualified nonprofit entity that receives delinquent parcels is required to pay any surplus above the amount of unpaid taxes or liens to the former owners or other parties with an interest in the property.

Ch. 713 (S.B. 142), Laws 2022, effective July 1, 2022

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“A Closer Look” at Expanding Access in Puerto Rico | CL-2022-08

The IRS published the latest executive column, “A Closer Look,” which features Ken Corbin, IRS Taxpayer Experience Officer, discussing how the IRS is working to serve residents of Puerto Rico. This year marks the first time in history that many families with children in Puerto Rico will be eligible to claim the Child Tax Credit, which has been expanded to provide up to $3,600 per child. “We know we must start from the ground up to reach out to Puerto Rico residents who may have little or no experience filing a federal tax return or receiving the credit,” said Corbin. “Not only do we want them to know about the credit, but we also want them to know there is help – some of it free – for getting it.”

For more information, click here.