Tax Deductibility and Required Disclosures | Chicago Association of REALTORS®

TAX DEDUCTIBILITY AND REQUIRED DISCLOSURES

2017-2018 Membership Dues and MLS Fees Renewal

    • Invoice is due upon receipt. Pay by October 2, 2017 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.
    • Check payments can be made online through TeleCheck. 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
    • Voluntary Contribution suggested amounts for RPAC, CAR FOUNDATION, and IL REAL PROPERTY
      ALLIANCE are included in the invoice total. These are VOLUNTARY – You can choose to contribute to one, two, all, or none. 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 2018, with ILLINOIS REALTORS® dues at $175 and the RVOICE assessment at $75 per member (a total of $250), ILLINOIS REALTORS® computes 37 percent, or $92.50, to be nondeductible for income tax purposes due to lobbying efforts by ILLINOIS REALTORS®.

For 2018, with dues at $120 per member, NAR computes 43 percent, or $52, 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 2018, with dues at $273 per member, CAR computes 3.6% or $10 to be nondeductible for the members income tax purposes due to CAR lobbying efforts.

NAR PUBLIC AWARENESS CAMPAIGN

Your 2018 NAR dues include a $35 mandatory assessment by the NATIONAL ASSOCIATION OF REALTORS® 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

IR’s 2018 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 IR 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

Payments or investments to your local Board of REALTORS®, the Illinois and National Association of REALTORS®, and RPAC, either state or federal, are not deductible as charitable contributions for federal income tax purposes.  Local, State and National dues may be deductible as a business expense.  If in doubt, please consult your tax advisor.

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. Except as may be required by state or federal law, the Illinois REALTORS® PAC (Illinois RPAC) is not required to refund political contributions. However, a refund request made by a contributor within 30 days of the date his or her RPAC contribution is received will be considered on a case-by-case basis.”

CAR FOUNDATION

Chicago Association of Realtors Foundation provides scholarships to REALTORS® for designations, post-licensing classes, and higher education. Since 2014 the Foundation has also been the charitable arm of the association, donating to deserving individuals and organizations. The CAR 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 PROPERTY ALLIANCE

Assist your REALTOR® community with a voluntary contribution to RPA which provides insight and analysis for Illinois property owners and a voice for establishing sound real estate policy that promotes growth and seeks to limit taxes and regulations which can make it harder to live and work in the state.

Contributions to the Real Property Alliance are tax-deductible contributions.