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Tag Archives: associations

Associations Using CPA’s: Is it Really Necessary?

Although homeowner associations are created as nonprofit corporations, this does not mean the associations do not engage in financial transactions or require the services of a certified public accountant (CPA). For example, it is common for an association’s governing documents to require a financial audit or review on an annual basis, and associations are required to file tax returns every year. Further examples of situations in which it may be beneficial to consult a CPA include:

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Community Associations and the IRS

We often get asked whether community associations can or do qualify as 501(c) organizations under the Internal Revenue Code.  Sometimes the question arises because the association derives too much income from sources other than assessments to file IRS Form 1120-H, and it is looking at way to...

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Is Your Association Prepared for Natural Disasters?

Natural disasters come in many shapes and sizes.  It could be a tornado, a flood, Superstorm Sandy, or a wildfire.  Regardless of the type of disaster, the devastation and loss is often overwhelming.  Nothing can fully prepare someone to handle the emotional impact of a natural disaster.  However, with some thought and planning before...

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Difficult People: How Do You Deal with Them?

How do we as humans deal with people who yell and scream at us or refuse to be rational? You know the type, adversarial, manipulative, inflexible, unreasonable, irrational. For most people, the answer is “We don’t”. If given the choice, most of us choose not to work with people like this. We don’t socialize with them, we avoid them at work if possible, and we make our own lives easier by simply ignoring them whenever we can.

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