[Theforum] Re: questions?

[Martin]

On Tuesday, April 23, 2002, at 01:43  pm, Luther, Ron wrote:

> <IANAL(or CPA) and like that there>
> If you were the treasurer for your football team here in the US and you
> had weekly dues to put money away for beer and trophies at the end of
> the season, and you put that money in a bank account for the team and
> it earned some interest.....
>
> .... unless that football team is an incorporated 'legal entity' you,
> the treasurer, would *personally* be responsible for any tax owed on
> the income earned on that bank account.  [We have a national tax on
> income here in the US.]
>
> Now - realistically it probably wouldn't amount to much ... but over
> here I'm pretty sure it would be a 'personal' rather than a
> 'organizational' liability unless the organization is a legal entity.
> </IANAL>

Looking back at Marlene's email of Jan 3rd or so, it would seem
that that's a factor of you putting it in an account under your
name, rather than the organisation being unincorporated.

Cheers
Martin
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