Working With Accountants

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When To Call In The Professionals To Advise Your Board

Common areas of a community are vitally important. Not only do they ensure a better quality of life for residents, they also help the resale value of properties. So it makes sense that two of the most important duties of

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The Art of Picking Professionals: To Choose or Not to Choose

Running the day-to-day business of a condo development or an HOA of any size—be it a sprawling, multi-building community, or a single self-contained building—requires not just a functional board but a team of competent outside professionals. These professionals keep things

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Essential HOA Professionals

The board of a homeowner association is charged with making informed decisions. To make informed decisions requires consulting with knowledgeable professionals when the topic exceeds the board’s experience. Professional relationships that every HOA board should have include an attorney, CPA

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The Annual Audit -Taking Your Association’s Financial Pulse

The health of your association’s finances can have a dramatic effect on the board of director’s ability to effectively maintain the property’s assets and value. In order to keep the property’s assets in good order and keep home sales on

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Toeing The IRS Line In Homeowner Associations

In 1995, the IRS issued a Tax Advice Memorandum relating to the audit of a Florida time-share association. In this Memorandum, the IRS drew parallels between time share and homeowner associations relating to filing tax form 1120       Read

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Hiring Professionals – A Winning Approach

One of the key questions facing volunteer community association boards is, “When should we hire a professional to assist us?” This question oftentimes will apply to professional management companies, construction professionals, vendors and service providers, accountants, attorneys and    

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Trusting your Professional Service Providers

Homeowners associations are comprised of people from all walks of life, and for that very reason their boards of directors often consist of individuals who bring various levels of knowledge to the administration of the association      Read more……..

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Essential HOA Professionals

The board of a homeowner association is charged with making informed decisions. To make informed decisions requires consulting with knowledgeable professionals when the topic exceeds the board’s experience. Professional relationships that every HOA board should have include an attorney, CPA

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501(c)(4) Tax Exempt Homeowners Associations

This site provides information regarding tax exempt homeowners associations. We hope that you will find the information on this site helpful in understanding the differences between the various Internal Revenue Code (IRC) Sections under which an association may qualify for

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Related Party Transaction

The accountants performing audits and reviews on the associations that I manage come to my office each year and among the questions that they ask is: “Were there any related party transactions?    Read more……..

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Selecting a Certified Public Accountant (CPA)

As legislation related community associations increases in many states across the U.S. , one aspect that is receiving attention is the need for the Association’s Board of Directors to maintain credible and timely financial statements. More and more Associations are

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