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Checking Accounts for Statuatory Road Associations
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06 Aug 2012 6:39 PM
I need to open a checking account for our road association which is new and I'm the treasurer, when I open the account I'll have to use my social security number how will that affect my personal taxes?
Last modified: 06 Aug 2012 6:42 PM | Deleted user
07 Aug 2012 9:15 AM
The only thing that gets reported to the IRS by the bank is interest so that should not be material.
07 Aug 2012 10:15 AM
So if we open an interest bearing account it could pose a problem?
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The Maine Alliance for Road Associations