|Re: HOA taxes||<– Date –> <– Thread –>|
|From: Sharon Villines (sharonsharonvillines.com)|
|Date: Mon, 8 Feb 2010 06:43:49 -0800 (PST)|
On Feb 8, 2010, at 8:57 AM, Diana E Carroll wrote:
Meals I think would be hard to include. :-\
What about meetings following potlucks, like professional networking group do? Those expenses are all tax deductible. (Said almost in jest.)
If you want to play the game of tax exemptions and the IRS, you can, in a million ways. Even have a team working on this like corporations and wealthy people do. As Warren Buffett says, his secretary pays more taxes than he does.
But how much money do you save? Is it worth the distraction from the business of community? Are the taxes paid more than having a bake sale would cover? Can you make this a game? A community activity? An act of civil disobedience.
Some would say that tax avoidance is in the same category as stewardship of community funds. Maybe it is. My concern is how much is it worth? What affect on your values does that focus have? How does it distort what the community priorities?
Just something to think about during budgeting season when someone raises the 90% limitation to prevent HOA dues from being spent on something the IRS doesn't consider necessary. When does the tail start wagging the dog?
Sharon ---- Sharon Villines Takoma Village Cohousing, Washington DC http://www.takomavillage.org
- Re: HOA taxes Fred H Olson, February 8 2010
Results generated by Tiger Technologies Web hosting using MHonArc.