Are You   Required   to Comply?

Over the years, there are been news stories about political appointees who lost their jobs and got into trouble because they didn't pay nanny taxes. The same could happen to you.

You must generally pay Social Security, Medicare and federal unemployment taxes on wages paid to domestic workers who are considered "employees" under federal law.

However, you don't have to bother with this if:

• You pay someone less than $1,700 in 2009 (up from $1,600 in 2008).
• You hire students age 18 or younger.
• You hire occasional workers like painters or house-cleaning services.

The laws related to domestic workers are confusing and poorly understood, but ignoring them can land you in hot water -- even decades from now.

If you believe a worker is an independent contractor: Put the arrangement in writing and keep a copy of the person's business card, brochure or advertisement. Why do you need this protection? Sometimes, domestic helpers reveal the names of people they worked for when they apply for Social Security. Uncle Sam then sends out assessments for back taxes, penalties and interest -- even many years later.

Because this is a confusing issue, consult a tax professional to ensure you're on the right track.

"An Ounce of Prevention    is Worth a Pound of Cure"  - Benjamin Franklin

The prospect of caring for your home with all its square footage may seem overwhelming. But don't let that keep you from moving forward. The key is to make a list of areas that need regular attention, and then break that list into smaller, more manageable groups. Like automaker Henry Ford once said, "nothing is particularly difficult if you divide it into small jobs."

Keep in mind that the items on the list don't all have to be done at the same time. In fact, some tasks divide themselves naturally based on the time of year. For example, maintaining your air conditioner and cleaning gutters. 

A Home Inspection: To ensure nothing is left off the list, start by doing your own home inspection, including the following steps:

• Walk through each room and write down all appliances, furniture, lighting and window treatments.
• Walk around the exterior of your house and make note of the number of doors and windows. Keep an eye out for exterior cracks in the home or driveway.
• Examine the landscaping. Are there weeds, bare patches or areas of over-growth?
• Is there a fence on your property? Walk around and examine it for any needed repairs or painting.
• Make note of all your home systems including appliances, air conditioning and heating units, water heater, water softener and electrical system. 

Make a "To Do" List

Now that you've done a walk-through inspection, use the inventory to prepare a comprehensive "To Do" list of needed repairs and regular maintenance. It's also helpful to pull out the home inspection that was conducted when you acquired the home and make a note of any needed repairs.

Here is a sample checklist to print out with some areas that need routine home maintenance. Some may need attention more than once a year. Add other chores at the bottom:

When you fill out the list, note the appropriate season when some of the tasks should be done. That way you can group tasks quickly and you'll be less likely to overlook items. In the "notes" section, record the date you performed the maintenance and anything unusual you found. You also might want to note any materials you need before your next home check-up, such as new filters for your cooling or heating system. Keep up with the list, updating it with each new appliance purchase or home addition.

Once you break home maintenance duties down into manageable groups and do the prescribed chores faithfully, a seemingly enormous task becomes possible. But more importantly, you're preserving a valuable financial asset and your family's shelter for years to come.

HOME SAFETY: SELECT RECALL NOTICES ON PRODUCTS AROUND THE HOME

Have you ever wondered if some of the products in your home are safe or if they were recalled. Joining my HomeActions club will alert you of these issues and much more. Keeping you in touch with the surrounding sales, do it yourself videos, tax tips, investment tips and much more. The information regarding sales works for any part of the country and provides local information. Great way for agents to stay in contact with clients and a awesome resource for your clients. Join Today

Click on the link below and subscribe to my free e-newsletter. Tons of great information

http://hstrial-homeactions.intuitwebsites.com/johnhand.html

Select Product Recalls For January:

Each line item is linked to the full recall details page. On there, you can find model numbers, what to do now and pictures.

• Big Lots Recalls Floor Lamps Due to Shock Hazard

• Target Recalls LED Flashlight Sets Due to Fire and Burn Hazard

• IKEA Recalls to Repair High Chairs Due to Fall Hazard

• Target Recalls Circo Children's Travel Cases Due to Violation of Lead Paint Standard

A Housing Rebound Starting? Just The Facts

Topic Summary: No matter what the industry, there are economists who cover it that can never agree on the meaning behind the "numbers". Recently there have been some promising data suggesting a rebound in the housing market and the various areas that impact the housing market such as unemployment.

Foundation Facts for a Rebound in Housing

Foreclosures:  RealtyTrac? (www.realtytrac.com), the leading online marketplace for foreclosure properties, released its Year-End 2011 U.S. Foreclosure Market Report?, which shows a total of 2,698,967 foreclosure filings 2011, a decrease of 34 percent in total properties from 2010. Foreclosure activity in 2011 was 33 percent below the 2009 total and 19 percent below the 2008 total.

Nationwide, starts of new single family homes were up 4.4% in December. According to the U.S. Commerce Dept. this is the third monthly increase in a row.

Homebuilders are slightly more hopeful because more people are saying they might be open to buying in 2012.

The latest monthly data show  total existing-home sales rose 5.0 percent. (3^rd month in a row of increases) Lawrence Yun, chief economist for the National Association of Realtors, said these are early signs of what may be a sustained recovery. "The pattern of home sales in recent months demonstrates a market in recovery," he said. "Record low mortgage interest rates, job growth and bargain home prices are giving more consumers the confidence they need to enter the market."

 The total housing inventory fell 9.2% to 2.38 million existing homes for sale. At the current sales pace that represents a 6.2-month housing supply - the lowest level of inventory logged in nearly seven years and lower than the seven-to-eight month inventory levels indicate steady home prices.

 Home Value depreciation seems to be near the bottom. In many areas home prices are moving up, reflecting improved consumer sentiment that home ownership is still a cherished asset. See the recent SURVEY on American's View of Homeownership from the National Association of HomeBuilders

On the financing front, home mortgage rates are at their lowest levels in decades.

When it comes to public policy and the government aiding the housing market, look for some new programs to be promoted helping underwater homeowners and those with marginal credit histories.