Tag Archives: annual

Association Taxation and Reserves

The Internal Revenue Service (“IRS”) excludes from an association’s taxable income those amounts which are properly kept and used for capital contributions.  In several significant Revenue Rulings, the IRS considered special assessments for major repairs and replacements to be capital contributions in addition to capital contributions to reserve funds from annual assessments.

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Meeting Moment – Top Annual Meeting Tips

The annual meeting – the most important meeting of the year – is approaching.  Often the annual meeting is one of the only times the community gathers.  As president of your community association, what can you do to get the most out of the annual meeting, make it positive for the community and as...

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