Anthony DiPierro wrote:
Anyway, I'm not a lawyer, and not even a CPA, just a lowly non-government-regulated tax accountant. This is not tax advice, blah blah blah (whatever crap that lawyer keeps saying about Circular 230, that goes for me too).
Anthony _______________________________________________
Thanks for the info. You are way above me in knowledge on these issues. I thought we were discussing the basic accounting question and the difference between the concept of gross revenue and net profit returned to personal pockets.
This concept of interlocking mutually regulating/cross checking mazes of incestous relationships in non profits is new to me.
I knew this kind of crap is used in interlocking Boards of Directors, divisions, stock holdings, etc. in conglomerates and holding companies of for profit corporations but I have only read laymans interpretations of this or introductory business texts, never actually experienced it directly in any meaningful way.
Thanks for the reference on Circular 230. I will check it out.
Regards, lazyquasar