Cohousing-L Mailing List: Re: How to accept donations

[Mac Thomson (mac]

On Dec 14, 2008, Rob Sandelin wrote:
> ANY income you generate from any source is taxable at 15%. This is  
> simply
> how the tax system works. Unless you spin off a 501C3 as an adjunct  
> to your
> organization, and this is complex and expensive, any donations made  
> in cash
> that get on your books are taxable.


Rob,

This would be NET income, right?  So if the donations get spent, there  
would be no net income and no tax.

Cheers,
Mac

--
Mac Thomson

Heartwood Cohousing
Southwest Colorado
http://www.heartwoodcohousing.com


"A good traveler has no fixed plans and is not intent on arriving."
       - Lao Tzu
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