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Re: 2011 Co-op BudgetNov 09, 2010


Local Law 11 is one big factor this upcoming year.

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Re: 2011 Co-op Budget - Anonymous Nov 09, 2010


We are treating LL 11 as "capital".

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Re: 2011 Co-op Budget - ~AR Nov 11, 2010


I am not an accountant, but to my knowledge, LL 11 is not typically a capital expence as it is maitenance, if you couple the work with some desired improvement you may be able to work it in.


~AR

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Repair work - AdC Nov 12, 2010


You're absolutely right! Local 11 is maintenance work and payment of taxes indicates on the work that this is maintenance.

I think the idea persists that if greater than $5K, it must be capital expense.

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