|Related questions about taxes and donation income||<– Date –> <– Thread –>|
|From: Jude Foster (foster.judegmail.com)|
|Date: Tue, 22 Oct 2019 07:05:48 -0700 (PDT)|
Ann, I was surprised to read that Takoma Village doesn’t pay taxes on your resale pod donations. I didn’t remember if you said that at your conference workshop. It might be worthwhile for some of us to hear from your bookkeeper why or how that is true, and if it is due to your District of Columbia tax laws. But with or without taxes, it’s a remarkable level of donation income! Katie, I was surprised to read your words that most HOA’s are “mutual benefit non-profits.” I was under the impression that most Coho’s are registered under state condo laws, which are not “non-profits” in any legal sense, are they? My community, Trillium Hollow in Portland OR, files for taxes and reports all donations - Common House room donations, mostly, plus use of Common House by an outside entity, etc. A total of $3-5K a year, which is nothing compared to TV's resale donation income. The big accountant company who handles most of our Reserve Studies in this area, Schwindt and Co, also handles our annual tax filing. That donation income is offset by certain expenses, resulting in a close-to-zero tax assessment each year. Maybe the subject line should change to “questions about taxes on donations?!” I’ll do that now. Jude, Trillium Hollow
Related questions about taxes and donation income Jude Foster, October 22 2019
- Re: Related questions about taxes and donation income Kathryn McCamant, October 22 2019
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