DUES DEDUCTIBILITY – TAX DEDUCTION NOTICE
FOR 2008 TAXES

The Omnibus Reconciliation Act of 1993 allows only a portion of the dues you pay to the Florida Association of Mortgage Brokers and the National Association of Mortgage Brokers to be deductible as an “ordinary and necessary” business expense.

FAMB has determined that 20% of your 2008 FAMB dues are not deductible because of FAMB’s lobbying activities on behalf of its members.  Renewing Professionals, Originators and Affiliates dues are $275 and Supporter renewals are $190.  Renewing Additional Professionals, Additional Originators and Additional Affiliates dues are $215. 

NAMB has determined that 27% of their 2008 dues are not deductible because of NAMB’s lobbying activities on behalf of its members.  From your total dues we pay NAMB the following: Professional and Additional Professional dues - $120 annually; Originator and Additional Originator dues - $45 annually; Affiliate and Additional Affiliate dues - $95 annually; and Associate dues - $45 annually.