Re: [AGA-mcm] 2005 Expenditures and revenues -- planning ahead

["Karen Randall" <krandall@rdrcpa.biz>]

Besides which, it seems to me that whatever small "profit" we might show for
this year could easily be offset by the loss to the treasury over the last
few years, plus the various pieces of equipment and all the "misc. expenses"
that several of us purchase and DON'T charge AGA for because we want the
organization to remain afloat.

Cheryl, how many ink cartridges and reams of paper do YOU go through each
year on AGA business?;-) I know I don't count mine, 'cause I don't want Dave
to know! <g>

If it comes to giving the government money, or getting reimbursed for my
expenses, guess which I'm gonna choose?<g>

Karen

----- Original Message ----- 
From: "S. Hieber" <shieber@yahoo.com>
To: "AGA Advisory Committee" <aga-mcm@thekrib.com>
Sent: Tuesday, December 21, 2004 11:02 AM
Subject: Re: [AGA-mcm] 2005 Expenditures and revenues -- planning ahead


>
> --- Karen Randall <krandall@rdrcpa.biz> wrote:
>
> > > Taxes [pending any decison from the IRS re tax-exempt
> > > status, are we going to file an pay in 2005 for the
> > 2004
> > > tax year?]
> >
> > My gut feeling is that to pay taxes for 2004 is to admit
> > that we might OWE
> > taxes.
>
> >  If our stand is, as I think it should be, that we
> > are a non-profit
> > institution, we don't owe taxes.
>
> I believe the federal tax code requires payment unless
> tax-exempt status has been recognized by the IRS. Payments
> may be made in protest subject to a future determination
> but the burden is not onthe IRS, if I read things
> correctly. But I'm not a tax guy -- I don't claim to know
> how it works or what is our best tack. I'd again encourage
> hiring a tax expert (even include it in the budget) but
> that's a trumpet that hasn't made much sound. Whatever we
> do (or don't do), I believe it's a decision the BoD should
> make; not me. If no other aquatic group pays, then we can
> at least fall on the mercy of the auditor (if necessary)
> and say we did just what everyone else like us does (or
> didn't do what everyone like us doesn't do). I'm not trying
> to make inroads in the adminsitration of hobby groups; I
> just don't want to put AGA viability at risk.
>
> sh
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