2024 tax preparation

[Donald Dale Milne]

    I have reviewed the financials for 2024 and the tax returns we filed for 2023.  Though I believe our taxes for 2024 will be simplified compared to past years, we will still need to claim some non-qualifying income due to receiving advertising revenue.  This is what required us to pay taxes in previous years, despite being a non-profit and we will need to pay taxes again this year.  Unfortunately, I have not been able to follow or understand how Rehmann accounted for that income and what portion was excepted from our tax-free basis.  It appears to me to have been arbitrary and therefore I do not believe I am able to make the call for this year.

    Therefore, I am recommending we hire Rehmann to prepare our tax forms once again, for 2024.  I have received an estimate of $1100 for this work.  This is better than last year, as they quoted by the hour then.  (The final bill was $1200.)  Are there any thoughts or a motion on this subject?  Perhaps someone else wishes to try to do the taxes?

- Don Milne

[Scott Novick]

While I’ve had some experience with tax prep (many moons ago), I’ve never done one for a non-profit. I probably COULD do it with a solid template, it doesn’t sound like we have one. Next year will probably be easier since we won’t have any ad income, but I don’t think I’d feel comfortable doing the 2024 return. 

If the $1100 quote is an estimate, maybe we should approve a little more in case the work goes over?

I’d like to make a motion that unless one of the other board members is willing to do it, we again retain Rehmann for our 2024 return at a cost if up to $1200.

— Scott Novick

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[sangorshop]

I"ll second Scott's motion.


Steven Rowe

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[Donald Dale Milne]

    Motion recognized; is there a second?

- Don Milne

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[Donald Dale Milne]

    Second recognized; is there more discussion?

- Don Milne

[Ramon Schenk]

Sounds like a plan.

Ramon

Op wo 5 feb. 2025 23:09 schreef Donald Dale Milne <dond...@att.net>:

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[sangorshop]

No comments in a while, might be time to call for a vote.

Steven Rowe

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[Donald Dale Milne]

    I agree, please set one up.  Thanks.

- Don Milne