Tax protection for homeowners association reserve accounts

Article Abstract:

Homeowners associations can avoid income tax on monies contributed by its own members. This is true for residential organizations that qualify and elect to be exempted under Sec. 528, which comes with its own version of an unrelated business income tax. However, this is also applicable to nonexempt associations that can evoke Revenue Ruling 70-604 to get rid of excess assessments, can comply with IRS fundraising rules on capital acquisitions and improvements, and do not need deferred maintenance reserve account. Board of directors and tax advisors should have a deep understanding of the rules pertaining to this issue to significantly lower their annual tax liability and minimize their exposure to costly audit adjustments.

Taxation, Homeowners' associations, Reserves (Accounting)

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How to effectively coach

Article Abstract:

People who put their best efforts into their work naturally become coaches or mentors even if they are not officially vested with such a position. Their peers, colleagues and even their superiors solicit their advice because they would like to emulate the quality of their work and their procedures in doing them. Coaches should take care not to break the trust of the people who approach them for assistance. They should also focus on giving constructive criticism instead of undermining people's confidence.

Social aspects, Methods, Mentors, Mentoring, Workers, Social skills, Peer counseling

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Unipartners

Article Abstract:

The struggling British automobile parts manufacturer Unipart adopted the manufacturing methods of Japanese companies to survive. The streamlining methods have helped to boost quality and output, and they are spreading throughout the company.

Management, Case studies, Unipart Group Ltd., Industrial management

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