Re: communities that handle property buys and sells internally?
From: Kathryn McCamant (kmccamantcohousing-solutions.com)
Date: Mon, 21 Oct 2019 12:26:24 -0700 (PDT)
RE:    We keep on being told my bookkeeper and accountant types that this kind 
of gift is taxable, which puts a damper the on whole thing!
    Mariana

So what if its taxable?  Our governments can certainly use the funds (would 
like to think they use it to adapt to climate change rather than more military 
tanks), but in any case that still leaves 65%+ for the community's use. As a 
mutual benefit non-profit, as most HOA's are, you need to pay taxes on income 
beyond what you spend every year (ie the "profit"), just like I do as a 
business. It still gifted money to the community, and really nice to have. 

Katie 
-- 
Kathryn McCamant, President
CoHousing Solutions
Nevada City, CA 95959
T.530.478.1970  C.916.798.4755
www.cohousing-solutions.com

 

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