INSIDE THIS ISSUEfilelibrary.associationsites.com/bomagt/collection...of the commercial real estate...
Transcript of INSIDE THIS ISSUEfilelibrary.associationsites.com/bomagt/collection...of the commercial real estate...
Have you signed up for a
committee?
If not, do so TODAY!
Get the most from
your membership. Participate
on a committee.
Contact the BOMA-GT office (520) 299-4956
INSIDE THIS
ISSUE
Tech-Tips
Page 3
Education Programs
Questionnaire
Page 5
EER
Page 7
Are You Ready?
Tuesday, February 26th, 2008
Sheraton Tucson 5151 E. Grant Road
11:00 a.m.—2:00 p.m. – Vendor Expo
11:30 a.m.—11:45 a.m.—Check In 12:00 p.m.—1:00 p.m.—Lunch and Program
Introduction to NEMS 1:30 p.m.—3:30 p.m.—Seminar—Expect the Unexpected.
Disaster Planning and Building Recovery Basics 1:30 p.m.—3:30 p.m.—Seminar—Beyond the Basics with
NEMS
A terrorist attack, flood, power outage or other disaster can strike at any time —- with little or no warning. Are you ready?
Every Property Manager and Business Operator needs an emergency preparedness and recovery plan. A plan can
save lives, assist and help minimize downtime after a crisis. You can’t control what happens, but you can be prepared.
BOMA Greater Tucson wants to provide its members with the tools to develop emergency response plans for your company and your buildings and information about the
products and services available.
BOMA-GT Members—No Charge BOMA-GT Members (Additional Staff) - $25.00
Non-Members—$50.00 Included: Lunch, Vendor Expo and either afternoon seminar
Page 2
BOMA OF GREATER TUCSON 2008 YEAR-LONG COMMITTEES
Associate Member Council ..........
Awards ......................................... Andrea Krug—Chair
AZ BOMA ..................................... Vern Baker—Chair
Community Affairs ........................ Agnes Sheldon—Co-Chair
Community Affairs ........................ Gay Jarvis—Co-Chair
Continuing Education ................... Aaron Stremick, MBA—Chair
Designation Education ................. Jennifer Weiner—Chair
Directory ....................................... Mary Westmoreland—Chair
Directory Advertising ....................
EER .............................................. Lynn Kastella—Chair
Finance ........................................ Andrea Krug—Chair
Golf .............................................. Frank Roesler—Chair
Government Affairs ......................
Membership ................................. Peggy Nolty—Chair
Programs ..................................... Van Wilkins—Chair
Public Relations ...........................
The purpose of the Building Owners and Managers Association of Greater Tucson is to actively and responsibly represent and promote the interests of the commercial real estate industry through effective leadership and ad-vocacy, through the collection, analy-sis and dissemination of information, and through professional develop-ment. The BOMA News is published as a membership benefit to members of BOMA of Greater Tucson. State-ments of fact and opinion appearing in this newsletter are the responsibility of the author and do not imply an opinion or endorsement on the part of the officers and directors of BOMA of Greater Tucson, unless otherwise specifically stated as each.
Building Owners and Mangers Association Of Greater Tucson
BOARD of DIRECTORS President Tina Smith, RPA ....... (520) 546-2742 President-Elect Van Wilkins ............... (520) 623-6061 Treasurer Andrea Krug ............. (520) 888-5127 Secretary Katie Castillo ............ (520) 293-9000 Past-President Van Wilkins ............... (520) 623-6061 DIRECTORS DeLyn Mitchell ............. (520) 740-3056 Teresa Ryberg ............. (520) 546-2719 Leslie Stephens ........... (520) 382-0611 Jennifer Wiener ........... (520) 624-3110 Peggy Nolty ................. (520) 545-7112 Agnes Sheldon ............ (520) 270-4964 Paula Smith ................. (520) 888-0669 EXECUTIVE DIRECTOR Jeanie Merideth ........ (520) 299-4956
Welcome New Members!
Brenda Knapp
3R Property Services (520) 907-0506
Email: [email protected]
Frank Daversa Transwestern Commercial Services
(520) 888-4370 Fax: (520) 888-4372
Email: [email protected]
Page 3
The main topic at the Winter Business Meeting was “Green Building”. BOMA International has adopted a Seven Point Challenge which we will be introducing to our local members to help with energy savings on your buildings. Also the programs committee will be looking into programs for the year that touch on the Green Building concept as well. More to come on the Seven Point Challenge. It is also time to enter our EER’s (Experience Exchange Reports). We would like to see an increase in participation this year and possibly be recognized by BOMA International with an award. The entries are done online now to make it easier for all of us. If you should have any question on the EER, please feel free to ask. We are creating a special task force for this new issue with the City of Tucson in regard to the Certificate of Occupancy’s. Several members have already expressed interest and we will be setting a meeting date soon. If you are interested on being part of this task force please email me at [email protected]. Remember to get the most out of your membership within BOMA by signing up for a committee. We have several committee’s that could use your help and knowledge. If you are not able to commit to an entire year long committee there are also areas within the organization that are shorter time frames that we could use your help on. Have a great February and I will see you at the next meeting!
PRESIDENT’S REPORT By: Tina Smith, President BOMA of Greater Tucson
Create a hyperlink Applies to: Microsoft Office Word 2007 Microsoft Office Word creates a hyperlink for you when you press ENTER or the SPACEBAR after you type the address of an existing Web page, such as www.nextrio.com. Peggy Nolty, Account Manager- Web and Emedia Nextrio, LLC Connecting Business and Technology Phone: 520.545.7112 Support Hotline: 520.545.7101 www.nextrio.com
TECH-TIPS Surviving and In A Digital Age
Page 4
Pima Association of Governments (PAG) “Buffelgrass Eradication Day” Buffelgrass– An Invasive Weed
We have the good fortune to live in an area where the natural landscape is extraordinary and unique to our desert region. Many people visit the desert southwest to experience first hand the breath taking beauty of this place. These visitors have a huge impact on our local economy. Many people are returning visitors or they may decide to relocate here to become a part of our community. It may take 200 years or more for a large saguaro to reach a majestic size with multiple arms. These majestic giants can be destroyed in single fire event with the dense underbrush fuel cre-ated from the invasive buffelgrass. Buffel grass is a non-native aggressive bunch grass. It was originally introduced to Mexico and west Texas as forage for cattle. This invasive grass quickly spread and has much more bio-mass than our native desert grasses. Once it takes hold it becomes a serious fire threat to our native desert plants which are not designed to withstand the hot longer burning fires that result from these dense bunch grass invaders. Native grasses get toasted and quickly fizzle out burning only the dried underbrush so the fire moves on doing just what nature intended. We need to make a community wide effort to eradicate buffelgrass and fountain grass from our landscape and from the surrounding desert areas. Huge swaths of our unique Sonoran Desert are at risk. By removing the entire buffelgrass and fountain grass plant we are protecting the natural ecosystem that makes our desert so unique. Pima Association of Governments’ Regional Council has designated Saturday, March 1, 2008 as Buffelgrass Eradication Day. We need your volunteer help to eradicate and remove these harmful grasses in an ef-fort to help preserve the Sonoran Desert. Join us to make a difference. One day can make all the difference in the world. Submitted by Paula Smith Landscape Sales Consultant Northwest Landscaping
Page 5
BOMA-GT Members Educational Programs Questionnaire February 2008
Name (Optional) _______________________________________ Date:__________________ 1. What kind of educational programs would you like to see BOMA-GT offer? _________________________________________________________________________ _________________________________________________________________________ _________________________________________________________________________ 1. What topic areas would you like to see covered in future education programs?
Please check all that apply: ___HVAC ___ Plumbing ___Electrical ___ Solar ___Energy Conservation ___ Water Conservation ___L.E.E.D. Standards ___ Custodial Practices ___Maintenance ___ Customer Relations ___Other _____________________________________________________________________ 1. Are you interested in the six-part BOMA Building Energy Efficient Building
(B.E.E.P.) Webinar 2. Series? Circle one. Y N 4. Are you interested in participating in the BOMA four-part Leasing Logic Series of Webinars?
The Lease - The Foundation of the Tenant Relationship Financial Performance of the Lease Budgeting, Cost Tracking and Control Sustaining, Protecting, and Improving Property Value Circle one.
Y N 5. How important are Continuing Education Credits for you when choosing
whether to register for a class or not? Circle one. Very Important Important Neutral Not Important
FAX TO ILENE GROSSMAN—791-5041
Page 6
Page 7
THE 2008 EER GREEN ONLINE SURVEY IS NOW ACCEPTING DATA
Improve Performance. Achieve Excellence. That’s what BOMA’s EER is all about. And it’s time to share data. Please gather your 2007 operating income and ex-pense data and share it with BOMA via our EER Online Survey, www.boma.org/2008EERSurvey. Share your data. When you close your books with actual income and expense data for 2007, be sure to share your figures at www.boma.org/2008EERSurvey. You can submit unaudited data through March 20, 2008. Your data will be kept in strict-est confidence. Only aggregated, summary analysis will be provided. This year’s EER Survey Cycle will be entirely “green.” Printed survey forms have not been created. The Online Survey is not just advantageous to the environment, it is also faster and easier than using the paper form. Once you submit your data online, your fundamen-tal building demographic information will be automatically filled in, saving time, so that all you need to do is update the income and expense information for the current year. And, if you forget to provide some data, the survey form will remind that it’s needed. You’ll also receive instant email notification, when we have received your completed form. The Benefits of Sharing. In addition to contributing to the industry’s largest income and expense study, survey respondents receive a complimentary Expense Performance Comparison comparing each build-ing submitted with similar buildings (by location, age, and size). Respondents also can receive up to 65% off of the EER book and CD-Rom. A downloadable PDF version of the survey is available on the site, in case you want to gather your infor-mation there first. BOMA is very excited about this new GREEN initiative and we look forward to working with all of you on the 2008 EER data collection cycle and reaching our goal of 100% online survey participation. Thanks in advance for another successful year! If you have any questions, please contact Noah Schechtman, Re-search Project Manager at (202) 326-6339 or e-mail us at [email protected].
THE 2008 EER UPDATE
Please remember to submit your EER Forms to BOMA International. Each time you submit a form, don’ t forget to submit a gift entry form and fax it to Lynn Kastella (form on Page 8). Each time you submit a report to International, your name can go in for a chance to win $100.00. BOMA-GT will present $50.00 to the winner, along with $50.00 donated by Southwest Commercial Management, LLC. Tina Smith, our BOMA-GT President, is asking for 100% participation! Hurry and get your reports submitted!
Thank you from your EER Committee—Lynn Kastella, Paula Smith and Mona Deane
2008 BOMA-GT Experience Exchange
Report
For each Experience Exchange Report submitted You may register for the Drawing of $100.00
To Be Held at the April BOMA-GT Luncheon Meeting
Don’t Delay—Submit Your Reports Today!
To be eligible for the drawing, Please fill out the form below and Fax it to
Lynn Kastella—628-9878
Send an entry form for each report you submit
Member Name __________________________________
Company Name _________________________________
Date Reports Mailed In ___________________________
Signature ________________________________________
Page 8
Page 9
Immediately Increase Your Cash Flow with a Fixed Asset Study Sixty-eight percent of today’s business leaders are feeling more financial pressure than they did two
years ago, but most are unaware of legitimate money-saving options available to them. Tax incentives
are an easy way for companies to save money in today’s economy, and by taking advantage of these
incentives, companies can legally reduce their tax obligations. One such opportunity available to qualified
companies is the Fixed Asset Study. Studies such as these are beneficial to companies looking for im-
mediate cash flow creating a win-win situation for all.
By implementing a Fixed Asset Study, businesses immediately generate additional depreciation deduc-
tions that can reduce or eliminate taxable income and thus produce increased current cash flow. Many
businesses are unaware that their assets are eligible to be reclassified into shorter asset lives. The re-
sults of a Fixed Asset Study can reveal the opportunities that are not currently being utilized.
Why Perform a Fixed Asset Study?
Every business is comprised of unique assets, however, many businesses do not realize that many of
their assets are eligible to be reclassified into shorter “tax lives.” A Fixed Asset Study can typically reallo-
cate between 25 and 40 percent of a company’s depreciable asset base to shorter tax lives. Shorter tax
lives translate into increased depreciation deductions, which can generate an increase in cash flow
through current tax savings. For example, a $1,000,000 asset being reclassified from a 39 year life to a
five year life, will generate over 1300 percent more depreciation deductions in the first two years.
The use of a Fixed Asset Study to reduce an entity’s income tax liability became more viable as a tax
strategy in 2002 with the issuance of IRS Revenue Procedure 2002-9. This Revenue Procedure allows
taxpayers to "catch-up" on deductions in the current year related to deductions that could have been
taken in prior years. Revenue Procedure 2002-9 now provides for an automatic change in accounting
that permits taxpayers to identify asset costs that were not properly classified and to reclassify them to
their proper life.
A Fixed Asset Study provides a detailed analysis of the capital assets placed in service after January 1,
1987. Assets are classified based on recent favorable case law that permits assets to be reclassified to a
shorter tax life, thereby triggering larger depreciation deductions. An added benefit is that the Fixed As-
set Study requires little time of company personnel. These Studies in the Denver-area have generated
tens of millions of additional depreciation deductions for small and large clients. (Continued on page 9)
Page 10
Page 11
Benefits of a Fixed Asset Study The benefits of obtaining fixed asset management expertise include:
Additional current year deductions, which reduce taxable income and can immediately increase cash
flow
Development of an implementation process for capitalizing future asset additions
Detailed account listing of a company assets
All of this with only a minimal time requirement of company personnel
Will My Business Qualify? A prime candidate for a Fixed Asset Study is a company with a general asset cost basis of $1 million or
more, placed in service after January 1, 1987, with tax lives greater than 15 years. A Fixed Asset Study
provides the greatest benefit to a profitable business that has, or is expecting, to pay federal and state
taxes.
When a business decides to move forward with a Fixed Asset Study, it is important to choose a qualified
CPA firm that has the practical experience and a proven track record in Fixed Asset Studies. This will en-
sure effective identification and classification of your company’s assets and in turn help you drive down
costs and maximize savings. Additionally, as with any favorable tax incentive, the IRS will verify that the
additional deductions are both proper and fully documented. Thus anyone who wants to pursue a Fixed
Asset Study needs to approach the study with the viewpoint that proper documentation that is included in
a professional study is necessary to support the deduction.
Please contact Jon Mitchell, Tax Partner, in our Tucson office at 520-790-3500 or [email protected].
(Continued from page 10)
Page 12
Page 13
BOMA of Greater Tucson Jeanie Merideth, Executive Director PMB #140; 3305 N. Swan Rd. #109 Tucson, AZ 85712
Address Service Requested
Next Meeting: Are You Ready?—February 26—Viscount Suites Hotel
RSVP by doing one of the following: Fax this page to 299-6431 E-mail your info to [email protected] Call the BOMA office 299-4956 Name _________________________________________ Reg ________ Alt. ________ Company ______________________________________________________________ Guest Name ___________________________________ Reg ________ Alt. ________ Company ______________________________________________________________ Is Guest a potential Member? Yes No If yes there is no charge (Non-BOMA members may attend up to 2 meetings per year at the guest rate.) If no, $20 guest fee payable at the door. (Visa, MasterCard & American Express accepted)