[TriLUG] Upcoming vote on TriLUG non-profit status
Joseph Mack NA3T
jmack at wm7d.net
Sat Feb 5 13:33:43 EST 2011
On Sat, 5 Feb 2011, Justis Peters wrote:
> I am not sure what it would take in order to have the
> expenses of the LUG be deductible from treasurer's taxable
> income, but any income that remains could be taxable at
> the standard rate.
When I was the treasurer of NCSA I had similar concerns.
I asked a friend, an accountant, what to do. Full of
bonhomie he said "don't worry about it. I manage (his son's)
high school track team's finances and I just keep records
myself." When I attempted to find out what I was supposed to
do, even if I decided not to do it, he just said "There are
thousands of clubs, swim teams, sewing circles, just like
yours. No-one's ever going to bother with you."
This was a most unsatisfactory answer. He spent his whole
life figuring out tax avoidance procedures for his employer
and how to avoid taxes himself. If ever he was audited, I'm
sure he could handle it. If it happened to me, my sanity and
my spare time for 6 months could go.
I never consulted anyone who gave me a sensible answer. I
didn't know who to ask.
TriLUG appears to be in the same situation and if we don't
know after 10yrs of operation, we're not going to find out
now. Someone's going to have to get good info, whether
paying for it or calling up the IRS.
Joseph Mack NA3T EME(B,D), FM05lw North Carolina
jmack (at) wm7d (dot) net - azimuthal equidistant map
generator at http://www.wm7d.net/azproj.shtml
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