Taxes

Are HOA Fees Tax Deductible?

If you’re a homeowner, then you’re probably familiar with the HOA, or Home Owners Association. Whether you love it or…

5 months ago

Residents of East Garrison are coming to grips with taxes and fees that weren’t part of the sales pitch (CA)

Residents were concerned about a recent property tax bill that showed an approximate 40-percent increase in charges related to the…

6 months ago

Mo Money, Mo Problems? No Biggie for a Homeowner’s Association, Right? (NC)

Almost all community associations in North Carolina are formed as non-profit corporations, which are taxed as corporations. This means community…

7 months ago

When Can HOA Fees Be Deducted From Your Taxes?

HOA fees are typical for homeowners, but can they be deducted from your taxes? The deductibility of HOA fees depends…

9 months ago

Understanding IRS Rules on HOA Reserves: Ensuring Compliance and Financial Stability

As a critical aspect of Homeowners Associations (HOAs) and Community Associations, reserve funds are essential for covering future expenses and…

9 months ago

Community Associations and Tax Returns – Yes, You Need to File!

You may have heard rumors that because your community association is a non-profit organization, you are not required to file…

1 year ago

Most new Ascension neighborhoods have little-known extra road tax (LA)

If you've bought a house in the newest neighborhoods of Ascension Parish over the past two years, you're probably paying…

1 year ago

Illinois Common Interest Communities and Condo Associations Can File Property Tax Appeals on Behalf of Unit Owners

Anyone who has ever owned property in Illinois understands that there exists a potentially never-ending cycle of property tax appeals…

1 year ago

U.S. Supreme Court to weigh legality of Hennepin County keeping revenue from seized properties (MN)

The U.S. Supreme Court has agreed to take up the case of a Minneapolis woman in her 90s whose condo…

1 year ago

Gov. Kathy Hochul vetoes bill to close NY tax loophole for condo owners

New York Gov. Kathy Hochul has vetoed a bill that would have closed a loophole in state law that gives…

1 year ago