Re: Two Budgets?
From: David Heimann (heimanntheworld.com)
Date: Mon, 30 Dec 2019 08:25:05 -0800 (PST)

Hi Dick,

I'm not aware of the IRS special treatment for condos that you mention, and live in a condo myself. Could you please let me know what that is?

Thanks,
David

David Heimann
Jamaica Plain Cohousing
Welcome to the Roaring Twenties!


Date: Sun, 29 Dec 2019 20:37:27 -0700
From: "Richard L Kohlhaas" <rlkohl [at] earthlink.net>
To: cohousing-l [at] cohousing.org
Subject: [C-L]_ Two Budgets?
Message-ID: <5E0970F7.23132.CE5715F [at] rlkohl.earthlink.net>
Content-Type: text/plain; charset=US-ASCII

At Casa Verde, in the beginning, we were advised to keep condominium-type
transactions separate from "community" expenses, such as the meal program,
child care for meetings, social events, etc.  The reason being that a
combined budget could make us ineligible for the special IRS tax treatment
for condominiums.

We did so, and therefore have two budgets, two bank accounts, and two
treasurers. The condominium assessments range from $240 to $380/month, and
community dues are $7.50/adult/month.

We are curious if any other cohousing communities do their finances this
way .



-------------------------
Dick Kohlhaas
Member of Colorado Springs Cohousing Community at Casa Verde Commons
34 households on 4 acres  1.5 miles from center of city.
www.casaverde.us




  • Two Budgets? Richard L Kohlhaas, December 29 2019
    • Re: Two Budgets? David Heimann, December 30 2019

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