TAX DEDUCTIBILITY AND REQUIRED DISCLOSURES

2016-2017 Membership Dues and MLS Fees Renewal

    • Invoice is Due upon Receipt. Pay by October 3, 2016 to avoid suspension of MLS services and late fees.
    • You may pay online using your credit card, in-person at one of our locations, by mail, or via phone, during normal business hours.
    • If you are paying by mail, please send your check and a copy of your invoice to:
      Chicago Association of Realtors
      Attn: Accounting Department
      430 North Michigan Ave
      8th Floor
      Chicago, IL 60611
    • Suggested amounts for RPAC, CAR Foundation and Real Estate Education Foundation are included in the Invoice total. Your invoice will reflect recommended investment amounts. These are voluntary – You may modify these amounts to choose the amount you will contribute to each. Your decision not to contribute will not impact your services.
    • Note that a refund of dues are only given within 5 business days of payment. For more information on our refund policy, please visit our website at www.chicagorealtor.com.

If you have questions, please visit:

MLS Dues FAQ’s

Or call us at 312-803-4900

Thank you for being a Chicago REALTOR®.

NON-DEDUCTIBILITY PERCENTAGE

For 2017, with ILLINOIS REALTORS® dues at $170 and the RVOICE assessment at $75 per member (a total of $245), ILLINOIS REALTORS® computes 37 percent, or $91, to be nondeductible for income tax purposes due to lobbying efforts by ILLINOIS REALTORS®.

For 2017, with dues at $120 per member, NAR computes 42 percent, or $50, to be nondeductible for income tax purposes due to NAR’s lobbying efforts.   Please note that the entire $35 Public Awareness Campaign special assessment qualifies as fully deductible.

For 2017, with dues at $263 per member, CAR computes 1.9% or $5 to be nondeductible for the members income tax purposes due to CAR lobbying efforts.

NAR PUBLIC AWARENESS CAMPAIGN

Your 2017 NAR dues include a $35 mandatory assessment by the NATIONAL ASSOCIATION OF REALTORS® required of all REALTOR® and REALTOR®ASSOCIATE members to fund a nationwide public awareness campaign that includes TV network and cable ads highlighting the value a REALTOR® brings to a transaction and stressing the importance of using a REALTOR®.  Note that the entire $35 portion of dues related to public awareness qualifies as deductible dues

Illinois REALTORS® RVOICE PROGRAM

IIllinois REALTORS®’ 2017 dues include a $75 mandatory assessment for all REALTOR® and REALTOR®-ASSOCIATE members to fund the RVOICE Program, established in 2006 to ensure that REALTORS® have a strong voice on public policy issues throughout Illinois. RVOICE provides Illinois REALTORS® the resources to advocate on local governmental issues and take its message to the people, policy makers and the media. Learn more at http://www.illinoisrealtor.org/advocacy.

RPAC

Contributions to RPAC are not deductible for federal income tax purposes. Contributions are voluntary and are used for political purposes. The amounts indicated are merely guidelines and you may contribute more or less than the suggested amounts. The National Association of REALTORS® and its state and local associations will not favor or disadvantage any member because of the amount contributed or decision not to contribute. You may refuse to contribute without reprisal. Up to thirty percent (30%) of each contribution may be sent to National RPAC to support federal candidates and is charged against your limits under 2 U.S.C. 441a. A copy of RPAC’s report filed with the State Board of Elections is (or will be) available on the Board’s official website www.elections.il.gov or for purchase from the State Board of Elections, Springfield, Illinois.”

Please note: as a special promotion for the 2016-2017 Dues Billing Cycle, we will be hosting a raffle for members that make a contribution on their dues prior to the deadline for payment (October 3rd, November 11th, January 13th, or February 24th). There will be a total of five $100 gift-cards given to eligible members. To be eligible for this raffle, you must make a payment on-time, winners will be announced following the final payment deadline.

CAR FOUNDATION

Chicago Association of REALTORS® Foundation provides scholarships to REALTORS® for designations, post-licensing classes, and higher education. The C.A.R. Foundation is a 501(c)3 charitable organization and so contributions may be tax deductible depending upon your tax situation. We recommend you contact your tax advisor to determine if a contribution will be deductible in your individual situation.

REAL ESTATE EDUCATION FOUNDATION

Assist your REALTOR® community with a voluntary contribution to REEF which will expand real estate research and provide assistance to qualified students.

A contribution to the Real Estate Education Foundation may be tax deductible depending upon your tax situation. We recommend you contact your tax advisor to determine if a contribution will be deductible in your individual situation.