Re: Once You've Moved in, How DO You Manage Things?
From: Barb Andre (mbawebaccess.net)
Date: Wed, 16 Sep 1998 09:06:38 -0500
> Date: Tue, 15 Sep 1998 23:47:27 -0600
> From: "Willie Schreurs" <Willie [at] Greyrock.org>
> Subject: Re: Once You've Moved in, How DO You Manage Things?

> HOWEVER, if you use the HOA for anything that could be
> construed as for-profit (the meal program would be one, for example)
> it could lose its tax-exempt status.


As a point of clarification: our HOA does not have a tax-exempt status.
However, there are few ways to lower taxes on an HOA tax return. The
corporation is able to use depreciation of assets as an expense--and
other corporate tricks--so that a lower profit is shown, hence lower
taxes.

Barb Andre
Greyrock Commons
Fort Collins, CO

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