In recent years, recycled building materials have become increasingly popular in the world of construction and home design. From glass to newspaper, your recyclables are being turned into a wide range of unique and useful building materials. Here’s a closer look at some of the latest advancements.

Recycled Glass
Recycled glass has been repurposed into many different materials for construction projects. From asphalt to glass bricks to fiberglass insulation, it’s a versatile material known for its durability. In home design, recycled glass can be used to create decorative tiles. These tiles can be used anywhere normal ceramic tiles would be installed – kitchen backsplashes, shower walls, even pool floors. The best aspect of using recycled glass tiles is that they create a distinct appearance that other materials don’t offer.

Recycled glass can also be used in large-scale products like countertops and flooring to give a decorative finish.

Newspaper Wood
Newspaper wood turns paper back into wood. To form this material, many sheets of paper are glued together then rolled and compressed into solid logs. When a newspaper wood log is cut, the layers of paper mimic the growth rings of a tree and therefore resemble the aesthetics of real wood. Newspaper wood can be treated like most other wood products by cutting, milling, sanding, and finishing with paint or varnish.

Ecobricks
Ecobricks are made directly from plastic waste pollution to reduce the harmful effect that plastic has on the environment. Ecobricks are plastic bottles that are filled with small pieces of plastic waste to create a solid plastic brick. These bricks can then be used to construct buildings or architectural elements in your yard.

Rubber Tires
Tires take 50-80 years to break down in a landfill, but they are highly useful when recycled into building materials. Shredded or chipped tire rubber can be used as a lightweight and flexible fill material in construction projects like highway embankments and retaining walls.

The same shredded rubber can be used as mulch in landscaping and gardening. Recycled tire rubber is also frequently used to create impact-absorbing surfaces for playgrounds, sports fields, and athletic tracks.

There are many interesting and inventive ways that your recyclables are being turned into building materials. As the construction industry continues to strive for lower carbon emissions, we’re sure to see more sustainable building materials develop in the coming years.

Tax Deductions: Right, Wrong, and Risky

by Charles RenwickSeptember 27, 2023

PLANNING FOR TAXES

Tax law is not just a complex matrix of rules and regulations—it’s a world in which interpretation and decision-making play vital roles. Deciding how to handle deductions and tax positions is critical to tax planning for individuals and businesses alike.

Tread too carefully, and you might miss out on legitimate savings. Tread too recklessly, and you might find yourself on the wrong side of an audit or, worse, legal action. This article aims to help you find the sweet spot between conservative, aggressive, and illegal tax positions.

The three distinctions:

1. Conservative approach:Conservative deductions and tax positions are well within the precise boundaries of tax laws. You might choose not to take certain deductions even though those deductions are legitimate. By taking a conservative approach:

• You minimize the risk of an audit
• You may, however, miss out on potential deductions that could be legitimately claimed

2. Aggressive approach:Aggressive deductions and positions push the boundaries of what’s acceptable within tax law. For example, you might deduct a business trip to the beach. While they might be legal, they can raise red flags. This approach:

• Increases the risk of an audit or inquiry
• Maximizes potential savings if all deductions are ultimately deemed legitimate
• Requires a deeper understanding and substantial documentation to back up each deduction

3. Tax fraud:Fraudulent deductions, positions, and omissions clearly and knowingly violate tax laws. For example, if you’re required to disclose foreign bank accounts and choose not to disclose them to hide income. Individuals or businesses that opt for this path:

• Face significant risks, including hefty fines, penalties, and potential legal action
• Compromise their reputation and credibility

Tips for making the right deduction choices:

1. Understand the boundaries:Familiarize yourself with tax laws and the latest interpretations. IRS publications, tax seminars, and professional consultations can be valuable resources.
2. Document everything:Documentation is critical whether you decide to be conservative or aggressive with your deductions. Detailed records can provide the necessary justification for deductions if questioned.
3. Seek expert advice:A tax professional can offer guidance on where the line is drawn between aggressive and illegal, helping you make informed decisions.
4. Consider your risk tolerance:While being aggressive might offer more savings, it comes with heightened risks. Evaluate your comfort level with these risks before deciding on your approach.
5. Stay updated:Tax laws and interpretations change. Regularly reviewing updates ensures that what was once considered an aggressive deduction hasn’t shifted into the realm of the illegal, or vice versa.

A fourth distinction: honest mistakes

Even with the best intentions, mistakes can happen. Tax codes are extensive and intricate, and misinterpretations are not uncommon. An “honest mistake” is an unintentional error in understanding or applying a tax rule. It’s distinct from aggressive or illegal deductions in that there’s no intent to deceive or manipulate the system.

However, it’s essential to understand that accountability still applies, even when you make a mistake. The IRS can still impose penalties or require back payments. The severity often depends on the error’s nature and its perceived intent. Additionally, once you become aware of a mistake, taking the initiative to correct the error can demonstrate your commitment to compliance.

Right, wrong, and in between

“Aggressive” doesn’t necessarily mean “wrong,” just as “conservative” doesn’t always mean “safe.” The key is understanding the nuances of tax laws and where each deduction falls on the spectrum of conservative to illegal.

As the adage goes, “It’s not about what you make, but what you keep.” To keep more of your earnings, remember to walk the tightrope of tax deductions with balance, knowledge, and care.

By: Daniel Abramson
Managing Lead of HRSource

Guidelines by the Equal Employment Opportunity commission (EEOC), as well as federal and state law, prohibit asking job applicants certain questions, whether on the application form or during the job interview.

It is also illegal for an employer to discriminate against a job applicant due to race, color, religion, age, national origin, disability, or sex (including gender identity, sexual orientation, and pregnancy).

With those in mind, here are some prime examples of interview questions that are illegal to ask, along with alternative inquiries that are permissible.  (Please note:  if you have questions or require clarification, it’s probably best toc heck with your attorney or legal department.)

MARITAL STATUS

Unlawful:  It is illegal to ask whether the applicant is married, divorced, separated, engaged, or widowed, or for any details about their relatives.  “What is your marital status?”  “What is the name of your relative/spouse/children?”  “How old are your children?” – these are all no-no’s.

Lawful:  You may ask, “What are the names of relatives already employed by the company or a competitor?”  Anything other than this specific question is off limits.

PREGNANCY

Unlawful:  All questions relating to pregnancy, or medical history concerning pregnancy, are verboten, including “Do you plan on having more children?”

Lawful:  It’s okay to ask how long the applicant plans to remain in the job, and to inquire about anticipated absences that apply to males and females alike.

AGE

Unlawful:  You can’t ask questions that seek to determine whether applicants are 40 years old or older, which smacks of age discrimination.

Lawful:  You may, however, ask, “Are you at least 18 years of age?” or, “If hired, can you furnish proof of age?”

NATIONAL ORIGIN/ANCESTRY

Unlawful:  Any inquiries related to this topic are prohibited.  “What is your nationality?”  “What language is spoken in your home?”  “What is your mother tongue?” – these are all illegal to ask.

Lawful:  You may ask, “Which languages do you speak, read, or write fluently?” but only when the inquiry is based on a job requirement.

HEIGHT AND WEIGHT

Unlawful:  Any inquiries that aren’t based on actual job requirements are off the table.

Lawful:  Inquiries about the ability to perform a particular job are permissible.  A specific weight or height range will not be considered a job requirement unless the employer can show that no employee outside those parameters could do the work.

ORGANIZATIONS

Unlawful:  You cannot ask which organizations, clubs, societies, or lodges the candidate belongs to.

Lawful:  Rather, your inquiry must relate only to the applicant’s professional qualifications, such as, “Do you belong to any professional organizations?”

ARRESTS AND CONVICTIONS

Unlawful:  All inquiries relating to arrests are off limits.  For example, it is illegal to ask, “Have you ever been arrested?”

Lawful:  However, it is legal to inquire about convictions.  For example, it’s okay to ask whether the candidate has ever been convicted of a crime, and to inquire about the disposition of the case.  Also allowable is, “Have you been convicted under criminal law within the past five years, excluding minor traffic violations?”

RACE OR COLOR

Unlawful:  Any question that directly or indirectly relates to race or color is illegal, period.

Lawful:  None!

RELIGION

Unlawful:  It is illegal to ask any question that relates directly or indirectly to a religion.

Lawful:  In fact, the only question you may ask on this topic is, “Can you work on Saturdays or Sundays?” – and then only if this is a requirement of the job.

Analysis by Nicole Goodkind, CNN
Published 8:26 AM EDT, Wed September 13, 2023
CNN New York

Chief executives have left their posts at an alarming rate this year.

It’s been a bad year for CEOs.

Chief executives have left their posts at an alarming rate as their performance — and their behavior — come under increased scrutiny by corporate boards.

What’s happening: Well over 1,000 CEOs have left their companies this year, according to a Challenger, Gray & Christmas report. That’s 33% more than last year and the highest total in the first seven months of the year since the staffing research company began tracking exits in 2002.

The average CEO tenure has significantly decreased from an average of 12 years to between 5 and 7 years now, according to analysts who focus on CEO succession for talent management company Ferguson Partners.

“While specific details regarding these exits are typically undisclosed, it is evident that more CEOs are exiting due to the new pressures of their roles, the relentless pace of change, and, in some cases, their own actions,” they wrote.

The role of the CEO is changing rapidly, they said, and executive boards have been struggling to keep shareholders happy.

September’s exits: At least three major CEOs have stepped down in the first two weeks of September alone.

BP CEO Bernard Looney resigned on Tuesday “effective immediately” after admitting that he had not been “fully transparent” about “historical relationships with colleagues,” according to a statement from the oil giant.

Looney had spent less than four years on the job but was a company man through and through — he was a BP lifer, joining the company in 1991 at the age of 21 as a drilling engineer and working his way up to the top position.

But ethical infractions aside, investors were disappointed with his performance well before his resignation.

On Looney’s watch, BP became the only major oil company with goals to reduce oil and gas output this decade. Shareholders weren’t too happy with the decision -— or with BP’s share price (BP), which has lagged that of its competitors.

Looney recently trimmed BP’s emission reduction goals and increased spending on crude oil and natural gas. Still, BP missed profit expectations last quarter. Shares of the company fell 1.3% on Tuesday.

Meanwhile, clothing company Express announced on Saturday that former Tyson Foods executive Stewart Glendinning would become its next CEO, replacing Timothy Baxter, effective September 15.

Baxter’s resignation was announced just one day after the company released its second-quarter results, with net sales of its Express brand and its lifestyle line UpWest decreasing 15% compared to last year. The company’s sales in retail stores were down 21%, and its e-commerce sales were down 1%. Express reported a net loss of $44.1 million, compared to a net income of $7 million in the same quarter of 2022.

Express said Baxter’s departure was not related to the company’s financial performance. Still, shares of the company are down by about 85% since Baxter joined Express in June 2019 after spending 11 years with Macy’s.

Earlier in September, Walgreens Boots Alliance said that CEO Rosalind Brewer stepped down less than three years after taking the helm at the pharmacy chain.

Brewer’s expertise is in retail, and her exit comes as Walgreens aims to focus more on health care, said Neil Saunders, managing director of GlobalData. Retail, he said, hasn’t been a driver of growth for the company.

Shares of Walgreens are down 32% so far this year. Walgreens slashed its full-year profit guidance in June, warning of softening consumer spending and a pullback in demand for Covid vaccines.

********************************************

Typically, companies don’t provide detailed reasons for why a CEO exits. Of the leaders tracked by Challenger, Gray & Christmas this year, 266 CEOs have left this year without reason. Another 182 retired, 168 either stepped down or resigned, 40 took a new opportunity, 37 had their interim positions come to an end, 32 took new positions within their companies, and 17 left for personal reasons.  Economic uncertainties and “a much faster rate of change in the business environment are  causing companies to desire new approaches, new innovations, and new strategies to compete more vigorously.

While technology has empowered humans to do some incredible things, it’s also contributed to a rise in scams. According to the Federal Trade Commission (FTC), 2.4 million consumers filed fraud complaints in 2022, with over $8.8 billion lost to scams (an increase of more than 30% compared with 2021).

Though there are many types of fraud, imposter scams were the most frequently reported scam, with artificial intelligence (AI) making it easier than ever to pretend to be someone you’re not. A global study conducted by computer security company McAfee revealed that one in four people worldwide had either experienced a voice cloning scam or knew someone who had. With the prevalence of AI scams growing every day, it’s more important than ever to stay informed and take precautionary steps to protect yourself and those around you from AI scams.

How scammers are using AI

Though fraud has been around for centuries, today’s scammers are increasingly using artificial intelligence to carry out even more sophisticated scams. Common examples of AI scams include:

Voice cloning

Voice cloning uses AI to replicate someone else’s voice. Scammers may pose as relatives or friends over the phone, fabricating a story about an emergency and asking their victim to send money immediately. Scammers can also use AI voice cloning to try and gain access to victims’ financial accounts at institutions that use voice recognition prompts for security.

CEO scam

In a CEO scam, a scammer impersonates a business’s CEO and asks an employee to make a payment or share confidential information. Since these emails or texts appear to come from the CEO, some employees won’t think twice about questioning the head of the company.

Phishing

Phishing is a common impersonation scam where the attacker aims to steal sensitive information by pretending to be a trustworthy source. Scammers may utilize AI to add personalized greetings and perfect the company’s language, which can make phishing messages seem even more legitimate and convincing.

Malicious computer codes to crack passwords

Hackers may use malicious computer codes (aka malware) to try and steal passwords and gain access to bank accounts and other confidential information. Under the guise of a legitimate software program, scammers will trick computer users into downloading programs containing malicious code. The scammers will then run these codes on the victim’s computer, which can use different methods to steal passwords.

Ways to Protect Yourself from AI Scams

The best ways to protect yourself against AI scams are to be prepared, understand these scams and be on the lookout for them. If you suspect an AI scam, use these cybersecurity tips to help keep your information safe.

Create a “safeword” to share with family and friends to help authenticate phone calls.

Scammers can use AI to replicate the sound of someone’s voice, which can be very convincing. A safeword is a quick and easy way to verify a person’s identity.

Strengthen passwords by using two-factor authentication.

Some companies require two-factor authentication before granting you access to your email or financial accounts. A two-factor authentication code can help stop scammers in their tracks, keeping you safe in the event your passwords are compromised.

Let unknown calls go to voicemail, then call back to verify identity.

Scammers only need to record you speaking for a few seconds to clone your voice. If you receive a call from an unknown number, let it ring through to voicemail. Then, if you decide it seems legitimate, you can call back to verify the identity of the person who called.

Know most banks will never initiate conversation and ask for your personal information.

Never give your personal information over the phone to someone claiming to be your bank. Most banks will never initiate a conversation over the phone to ask for your personal information. If you’re ever in doubt, hang up the phone and call your local bank branch to verify any requests.

Educate yourself.

Taking time to educate yourself about AI and how criminals use it to scam people is one of the most important things you can do to keep your money and confidential information safe. By understanding how scam artists can trick people, you’ll be in a better position to recognize AI scams and avoid falling victim to these deceptive techniques.

Terms to know.

• Deepfakes: Artificial videos or photos that synthetically replicate someone doing or saying something by using AI.
• AI Chatbots: Software programs designed to communicate with people and have full, human-like conversations.
• Natural Language Processing (NLP): Linguistics-based AI enabling computers to process human language similarly to how humans understand it.
• Machine Learning: A subset of artificial intelligence, machine learning is a computer’s ability to replicate human thinking and behavior.
• Voice Cloning: Also known as an audio deepfake, voice cloning artificially replicates someone else’s voice to make it sound nearly identical to the real person’s tone, pronunciation and intonation.
• Two-Factor Authentication (2FA): Also known as multi-factor authentication (MFA), two-factor authentication is a security method that requires two forms of identification (such as a password or fingerprint and an email or text authentication code) to access information.
• ChatGPT: ChatGPT is an AI chatbot that uses natural language processing to intelligently respond to user prompts and questions. ChatGPT was originally released in November 2022 and was developed by OpenAI, a California-based research organization.

Conclusion

The rise of publicly available AI tools like ChatGPT offers scammers a way to leverage AI to create even more sophisticated scams. While these scams can be convincing, you have the power to prevent them by recognizing the signs of an AI scam and following best practices for protecting your information.

By Anna Bahney, CNN
Washington, DCCNN

Housing is less affordable than it has been in about four decades. But buying or renting a home might be even less affordable now if it weren’t for the continuing impact of remote and hybrid workers that resulted from the pandemic, according to a recent study by Fannie Mae.

The study, which was an analysis of Fannie Mae’s monthly National Housing Survey, with questions asked among more than 3,000 mortgage holders, owners, and renters between January and March this year, looked at how remote and hybrid work has changed over the past few years and its impact on housing.
More people are willing to move to less expensive areas further away from offices in city centers than a few years ago, according to the report. Continuing remote and hybrid work, at levels remarkably unchanged from two years ago, is enabling people to move toward housing affordability, the study found.

The report also revealed that “affordability” is the most important factor in finding a place to live, both for renters and homeowners.

At the beginning of the year, 22% of remote and hybrid workers said they would be willing to relocate to a different region or increase their commute. Only 14% of such workers were willing to do so in the third quarter of 2021, which is used as a comparison throughout the study and was when many workplaces attempted a “return to work” until the Omicron variant of Covid-19 pushed many employers’ plans back that winter.

Home affordability is the worst it has been since 1984

Workers who are able to break their ties to living in an area because of its proximity to work are able to spread out, reducing the competition for a historically low number of homes for sale that could push prices even higher.

The research showed that among remote workers, all age and income groups have grown more willing to relocate or live farther away from their workplace since 2021. But younger workers – those between 18 and 34 – are significantly more willing than those older than them to live or commute a further distance from their work, with the share willing to do so jumping from 18% in 2021, to 30% in 2023.

“We believe this greater willingness to live farther from the…workplace may be an indication that some workers are feeling more secure about their remote work situation…or their ability to find another job if their current employer were to change its policies,” wrote the researchers, in a summary.

This is good news for remote workers during a time of crushingly low levels of home affordability.

Where we work now

Remote and hybrid work may be here to stay. Or, it’s here long enough for people to buy or rent a new home because of it, the researchers found.

Despite the demands by leaders of some prominent companies that workers need to head into the office or head out the door, the share of fully remote and hybrid workers has remained surprisingly constant in the post-pandemic era, according to the study.

In the first part of the year, 35% of respondents worked fully remote or worked a hybrid mix of sometime at a workplace and sometime at home. That was only slightly down from 36% in 2021.

While the share of workers going to a work site or office every day was unchanged at 49% in both 2021 and in 2023, the share of people working fully remote ticked up to 14% this year from 13% in 2021.

Return-to-office mandates won’t magically improve young employee’s career development.

Homeowners continue to be slightly more likely to work from home than renters. And those with more education and higher incomes are also more likely to have a work-from-home situation, which is consistent with 2021,the study found.

Only 30% of lower-income people, earning 80% of the area median income, could work remotely or hybrid in 2021, and that dropped to 27% by this year. Meanwhile 42% of upper-income people, those making 120% of the area median income, were able to work from home in 2021 and that number did not change in 2023.

Lower-income people – who are in most need of access to lower-cost housing, found further away from a city’s core – are also those least likely to work remotely, according to the survey.

‘Affordability’ has become most important

With housing affordability taking a hit over the past few years as rents rose, home prices stayed elevated and mortgage rates soared to a 22-year high, it is not surprising that “affordability” was the top factor for people when picking a new home, at 36%. This was a big jump from 2014, the last time the question was asked, when the top consideration was “neighborhood” at 49%.

Homeowners and renters both showed growth in prioritizing “affordability,” but the increase was greatest among renters, shooting up from 21% in 2014 to 46% in 2023.

“The change in preference for renters is truly remarkable, since not only did it more than double, but it represented a complete reversal of the relative importance of neighborhood cited by consumers as the top consideration in 2014,” wrote the researchers.

In addition, despite the talk about moving for more space, “home size” as a factor for picking a next home was unchanged and still outweighed by “affordability.”

Shopping for a home? There’s a lot working against you right now

“The striking shift toward affordability as the top consideration among overall survey respondents for their next move substantiates the need of households to find ways to manage around the significant rise in mortgage rates, home prices, and rents of the past few years,” the researchers wrote.

And this is impacting where people look for a home and what they prioritize when they are searching.

“Home affordability may also be a reason why we saw an increase in remote workers’ willingness to relocate or live farther away from their workplace, particularly given that, historically, a shorter commute to denser job markets was considered a premium amenity,” the researchers wrote.

The suburbs are increasingly where people want to be, the report found, which is part of an ongoing trend since 2010. And that share has grown between 2021 and 2023.

The researchers say the change to the housing market brought about by remote workers holds broader implications for the link between housing and the labor market.

The growing share of remote-working renters and homeowners willing to live farther from their work location gives employers access to a wider labor market, which could be useful if a downturn in economic activity led to greater rates of job loss.

“Having access to a larger labor market may also reduce the adverse effect on local home prices when a major employer or industry contracts,” the researchers wrote.

About Brooke Chase Associates, Inc.
Brooke Chase Associates, Inc. is the premier executive search firm specializing in the recruitment of executive management professionals within the building materials, plumbing and kitchen/bath industries. Established in 1980, our list of clients has grown to become a virtual “Who’s Who” of both domestic and international firms for whom we have successfully recruited professionals. A testament to our success is that many of our clients have utilized our services for over 43 years. We have one of the best “Completion” and “Retention Rates” in the industry. At Brooke Chase Associates, Inc., a strong emphasis is placed on our client relationships. A retained, exclusive executive search is a strategic, not transactional, relationship with the hiring manager and human resources, the “search committee.” Our business is driven by a single principle: Successful companies start with successful people.

Brooke Chase Associates, Inc. has its Corporate Headquarters in Sarasota, FL. For additional information contact Joseph McElmeel, Chairman and CEO of Brooke Chase Associates, Inc. at 941-479-6382 or jmcelmeel@brookechase.com

Disclaimer:
Our firm provides the information in this e-Newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-Newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties or performance, merchantability, and fitness for a particular purpose.