Do HOAs Have To File Tax Returns?
A home owners association is considered a corporation by the Internal Revenue Service. Even if the association is organized as a non-profit, the IRS will treat it as a corporation. That means HOAs must file tax returns, including a state return in some states, but that does not necessarily mean an HOA may owe taxes. Know the rules before you get your HOA into any tax troubles. HOA tax returns require some special handling of different types of income and expenses. Read the article………
Most board members at community associations are well-intended homeowners who want to do a good job. But few have expertise
Not sure who is living in your community? How to get renters and leases under control in your community.
Over the past few years, there has been a major increase in renters in condos and HOAs, in part due