Cohousing-L Mailing List: Re: Two Budgets?

[David Heimann (heimann]

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