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In lugnet.trains, Eric Kingsley writes:
> We are set up as a Partnership and file tax returns
> yearly but that is mostly because one of our "clients" would not write a check
> to an individual and required that we have a tax ID number. This is less of a
> hassle than it seems and the money was significant so it was worth it.
Eric, can you tell me more about why you set up the club as a Partnership,
what where your other options (i.e. non-profit group, Incorporation, etc.)
The reason I ask is that I've been thinking of doing something simliar with
the NGLTC but I really don't what direction to take. Currently any money the
club gets is written to me, I cash it and put it in a folder. But I'm afraid
that as the incomes grow it's going to become a tax issue for me....and I
don't need any more of those, I've got enough as it is.
Thanks for your input,
jt
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Message has 1 Reply:
 | | Re: Definitions: LUG or LTC
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| (...) Well I will give it a try, it was about 2 years ago that we set it up so some details may be a little off. I will also say that I have some very good family resources in that my Mother is a Lawyer and my father is an Accountant and they gave (...) (22 years ago, 6-Sep-02, to lugnet.trains, lugnet.org.us.nelug)
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Message is in Reply To:
| | Re: Definitions: LUG or LTC
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| (...) Steve, and all... I actually love to debate/discuss this very question. I will give my personal view which I think translates into the way NELUG (URL) works. I have crossposted to the NELUG group so that anyone that disagrees with my views (...) (22 years ago, 4-Sep-02, to lugnet.trains, lugnet.org.us.nelug)
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