IRS Ruling 70-604

[lovingit]

HOA is asking homeowners to vote for or against this.  My understanding is that by voting for this, it gives the HOA an opportunity to roll over unused profits to next year.  It seems like a tax break for HOA.  How does it benefit homeowners by voting for this?

 

[someguy]

HOA is asking homeowners to vote for or against this.  My understanding is that by voting for this, it gives the HOA an opportunity to roll over unused profits to next year.  It seems like a tax break for HOA.  How does it benefit homeowners by voting for this?

Would you prefer some of HOA dues to towards income tax?  No?  Then vote to minimize the HOA's taxes.

 

[jmoney74]

HOA is asking homeowners to vote for or against this.  My understanding is that by voting for this, it gives the HOA an opportunity to roll over unused profits to next year.  It seems like a tax break for HOA.  How does it benefit homeowners by voting for this?

Too bad u can't vote to get them to return those profits.

 

[eyephone]

Yawns...