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FAQ Friday: Withdrawal of cash from assets

Posted by Annie Stevenson on Jun 7, 2019 7:00:00 AM
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Question

One of our clients recently reported that he cashed in a 401(k) account. The full value of the account was $25,000. $7,000 was deducted for taxes and the client received the remaining $18,000. What should we count as income, the full gross amount or the net amount received after taxes?

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Topics: Books and Revision Services, Q&A, Rent Calculation, Knowledge Base

FAQ Friday: HCV Rent Increases

Posted by NMA on Dec 1, 2017 5:00:00 AM

Editor’s Note: Due to HUD’s recent publication of 2018 annual adjustment factors, we are reprising this FAQ from August 2015. The links have been updated for this year’s notice.

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QUESTION     You mentioned during a webinar that the only limit on rent increases in the HCV program is rent reasonableness. Our PHA restricts rent increases to the annual adjustment factors (AAFs) published by HUD. We have this policy in our administrative plan and have imposed this limit for years. We feel that this helps to control program costs and helps to control rents in the community as a whole. Why isn’t this permissible as long as it is stated in the administrative plan?

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Topics: Q&A, Rent Calculation, Industry News, Knowledge Base

HUD Publishes Technical Corrections to HOTMA Implementation Notice

Posted by NMA on Jul 17, 2017 9:08:21 AM

technical corrects HOTMA implementation noticeOn Friday in the Federal Register, HUD’s Office of Public and Indian Housing (PIH) published several technical corrections and clarifications to the Housing Choice Voucher (HCV) provisions of the Housing Opportunity Through Modernization Act (HOTMA) it had issued on January 18. These changes are in part based on public comments from the first notice. In brief, the corrections and clarifications are as follows:

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Topics: HOTMA, HQS, Inspections, PBV, PIH notices, Rent Calculation, Seniors and Elderly, VASH, Veterans, Persons With Disabilities

NMA's seminar calendar for Q3 2017 is now available!

Posted by NMA on Apr 10, 2017 9:08:26 AM

affordable housing trainingWe’re pleased to announce the release of NMA's seminar calendar for the third quarter of 2017. You can view a list of the affordable housing training that Nan McKay and Associates is offering from now through September on this page at our website.

Start planning your summer training now and save! If you register at least 45 days in advance for most seminars, you’ll receive a 10 percent discount. (The discount does not apply to seminars hosted by housing authorities or associations.)

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Topics: Books and Revision Services, Fair Housing, HOTMA, LEP, Reasonable Accommodation, Rent Calculation

HUD publishes HOTMA implementation notice

Posted by NMA on Jan 24, 2017 8:44:00 AM

HOTMA implementation notice

On Wednesday in the Federal Register, HUD's Office of Public and Indian Housing (PIH) published a notice implementing several of the provisions of the Housing Opportunity through Modernization Act (HOTMA) that impact the housing choice voucher (HCV) and project-based voucher (PBV) programs, in addition to requesting comments on both current and future implementing requirements. The HOTMA implementation notice is broken down topic-by-topic, followed by specific questions for comment in each corresponding section. The first sections of the notice address:

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Topics: HOTMA, HQS, Inspections, PBV, PIH notices, Rent Calculation, Seniors and Elderly, VASH, Veterans, Persons With Disabilities

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