Re: Money and Greater Hartford Cohousing | <– Date –> <– Thread –> |
From: Denise Meier & Michael Jacob (dmmjncal.verio.com) | |
Date: Tue, 11 Apr 2000 09:43:30 -0600 (MDT) |
I would strongly recommend you talk to an accountant and get some advice about this. In our case, we had well over a year with each household putting in $20/month, and when we started putting in "real money" we balanced it all out so that everyone had put in the same amount. (i.e. credited all the $20 contributions toward the $2000 we asked for all at once.) We considered everything everyone put in as part of their capital contribution. Once we had units designed, priced, and assigned, capital contributions became proportional to the unit size cost. That is how it worked until move-in, and even now when we are having a post-move-in capital call to settle our debts. However, your mileage may vary depending on what legal structure you set up and how you and your accountant choose to set things up. Denise Meier Two Acre Wood Sebastopol, Northern California
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Money and Greater Hartford Cohousing Tonka444, April 11 2000
- Re: Money and Greater Hartford Cohousing Denise Meier & Michael Jacob, April 11 2000
- Re: Money and Greater Hartford Cohousing Kay Argyle, April 11 2000
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