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Thread: AMCA Magazine and Younger Motorcycle Riders

  1. #41
    Join Date
    Oct 2007
    Location
    Winnsboro, South Carolina
    Posts
    447

    Re: AMCA Magazine and Younger Motorcycle Riders

    Quote Originally Posted by shelbyinparadise View Post
    Is this a model for other chapters and are more details going to be made public on the pros and cons of the LLC or Coalitions and their functions?
    Hi Shelby. I would think that circumstances might vary from one group to another, in which case I would recommend that if someone were to read general aspects of an LLC and thinks that there is value there, they would best be served by seeking the advice of a CPA with their specifics to see if an LLC was the best option. I am certainly not qualified to make such a call. I am still trying to convince my wife that we will never lose money with antique motorcycles and that they are a valued addition to our portfolio, but she is a bit critical of my financial analysis.
    Best regards and see you in Wauseon.
    Lonnie
    Lonnie C.

    Come join us at the Ninth Annual AMCA Southern National Meet, May 18 - 20, 2018 at Denton FarmPark, Denton N.C.

    For visitor or vendor information, visit us on the Web at www.amcasouthernnationalmeet.com

  2. Re: AMCA Magazine and Younger Motorcycle Riders

    Quote Originally Posted by Lonnie C. View Post
    Hi Shelby. I would think that circumstances might vary from one group to another, in which case I would recommend that if someone were to read general aspects of an LLC and thinks that there is value there, they would best be served by seeking the advice of a CPA with their specifics to see if an LLC was the best option.
    Best regards and see you in Wauseon.
    Lonnie
    Hello Lonnie, thanks for the reply, as you most likely know I am relatively new as an active Chapter Board Member as well as my fellow Board members. In fact 7 of the eight are totally new to being a Board member. Our past President John Nixon is the only seasoned one left. All of the changes in the "For or not For" tax status from the National level, has some of us struggling to understand what we at the local level are to do to avoid problems. The very brief item in the minutes that mentioned the LLC was difficult to grasp what was being discussed without any background.

    I was very aware that 3 local chapters were doing Denton Farms together, and for many years of vending at Wauseon I knew that several were joined in that effort, although as a vendor it was none of my business who was who, except who to send my money too, to keep my spots through the years.

    That said, the Cherokee Chapter has had talks with other Chapters in nearby states about mutual support in Road Runs or Swap meets in the off years we can not do our own National. We have formed friendships with other Vintage and Antique Clubs and enjoyed their events we attended.

    Again as a beginner in the management of a Chapter that has seen fantastic growth, the burden is on our Board to do things the right way, and it is very difficult to see how other Chapters are working to keep on top of taxes and relationships, like you said maybe just to keep defined boundary's.

    Hope we get to do some serious talking in Ohio, I can be a good listener also. Shelby

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