|Re: Two Budgets?||<– Date –> <– Thread –>|
|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
Results generated by Tiger Technologies Web hosting using MHonArc.