Hi Everyone, In my chapter, about 10% of our annual budget consists of pass-thru funds. By this I mean money we collect for the express purpose of passing it...
I try to avoid this hassle by having members pay directly to the recipient, but when necessary, I call this income a 'reverse expense' rather than an income...
Since I haven't seen a response to this item or any discussion, I thought I would step in with some comments/questions. First - why do you not want to include...
Newton, Richard B.
RICHARD.B.NEWTON@...
Apr 15, 2006 3:05 pm
385
On Fri, 14 Apr 2006, "Newton, Richard B." <RICHARD.B.NEWTON@...> ... I think you misunderstood my original question. I stated that approx 10% of my...
Chas: I think Paul Lewis has the right idea. By receiving the money into the 360 account and then, instead of disbursing the money from the 460 account,...
... mark. ... IRS... I'm afraid I can't go along with this idea. First, once the money is entered into your books as income, it becomes part of your Gross ...
Wes/Paul I guess my concern stems from my beleif that all funds handled by Treasurer are chapter funds. Sure members pay into a fund for registrations,...
Newton, Richard B.
RICHARD.B.NEWTON@...
Apr 30, 2006 11:15 pm
389
Charles No I did not misunderstand your initial question, but I think you mis-understood my reply (or maybe I didn't express myself properly). Since we are a...
Newton, Richard B.
RICHARD.B.NEWTON@...
Apr 30, 2006 11:15 pm
390
Dick and all, Actually, from a technical accounting perspective, these funds are NOT income to the chapter when received from the members, nor are they...
... Dick, For sure I'm not advocating not reporting these transactions - just not including them in gross revenue (earnings). The money collected from the...
Still not receiving any YahooGroups mail. ~~~~~~~~~~~~~~~~~~~~~~~Charles Denzler~~~~~~~~~~~~~~~~~~~~~ Fiction & Fact from Uncle John's Bathroom Reader: Every...
Gentlemen: Our Chapter just had its annual show. The headliner quartet was a Canadian quartet. In addition to reimbursed expenses, we paid them a $700...
No need to file a 1099 for the Canadian Quartet unless you paid them more than $15,000 - from a Frank Santarelli email 1/16/05). Paul Lewis Treasurer, Bridge...
For the first time, I have to fill out Form 990-EZ (Boy - THERE is an oxymoron if I ever saw one). I have _not_ used the 'simplified' system outlined by...
John, There are no exceptions for providing tax ID numbers. If you can't get one, or in the case of a foreign person or entity doesn't have a US tax ID number,...
All Valentines expense: 440-Show Expense Professional services as listed: 432 That oughta cover your questions below. --Brooks in Dallas VM Treasurer ... ...
As VM Treasurer for many years, here’s how I do it: First print off some reports. Second, get a big enough glass to hold about half a bottle of your favorite...
What would be the best procedure to follow BEFORE hiring a Canadian Q'tet? Chas ~~~~~~~~~~~~~~~~~~~~~~~Charles Denzler~~~~~~~~~~~~~~~~~~~~~ Fiction & Fact...
Hi, The topic of pass thru funds has been on the BBS treasurer's E-mail network. I think the basic question is - Are BBS Chapters required to include pass thru...
John, I just re-read your response to the Canadian quartet question. Are you saying that if that quartet expects to earn fees in the US, they are supposed to...
To all, I stand corrected. Paul is right, and the authority Frank refers to is IRS Publication 901 - U.S. Tax Treaties. Follow the link and scroll down to ...
In our Treasurer's manual, under expense account 460, it lists " ... personal services to members WHERE THE PUBLIC IS NOT INVITED: show parties, gifts...
Charles, See my correction to my reply, below. There is a $15,000 exemption for entertainers. To answer your question, and only if this exemption didn't apply,...
Hi everyone, I just approved several messages, two of which I think I approved previously, but I let them go thru anyway, since some of you may have missed...
... From: "susanthebari" <susan_work@...> To: SweetAdelinesInt@yahoogroups.com Date: Thu, 15 Jun 2006 Our chorus is beginning to get involved in rewards...
Susan, Could you get a letter from the IRS stating that the international 501(c)3 tax exempt status applies to your chapter incorporated under the auspices of...
If any of you out there are using Elan Merchant Services to process credit card sales, may I hear from you? I have a question or two. Thanks, Pete Leuck, NE...
There was a similar discussion last summer, but I'm glad it's come back around again. Chas' comment was interesting to me. The BHS web site still quotes $8 as...
