Cohousing-L Mailing List: Re: Renting out space in a common house/ providing classes in common space

[jpustell [at] verizon.net (jpustell]

Agreed Sharon - Nothinbg wrong with paying taxes you owe - Just one needs to be 
aware they are coming and be prepared.  That's all I am saying - 
John Pustelljpustell [at] verizon.net
 

    On Friday, February 21, 2025 at 05:07:19 PM EST, Sharon Villines via 
Cohousing-L <cohousing-l [at] cohousing.org> wrote:   

 > On Feb 21, 2025, at 4:53 PM, jpustell--- via Cohousing-L <cohousing-l [at] 
 > cohousing.org> wrote:
> 
> One surprise issue is a tax one.  Last time I checked, Condominiums filing 
> tax form 1120H who get 20% of more of their income form non-members through 
> rental fees or other amounts paid by non-unit owners run the risk of having 
> to pay income taxes on those receipts.

Paying taxes is not a bad thing. It means you earned money. As far as I know, 
one never pays more taxes than one earns. The profit is still on your side.

Sharon
----
Sharon Villines
Takoma Village Cohousing, Washington DC
http://www.takomavillage.org




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