Tag Archives: investment

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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FL: Money File-Surviving the Condo Crisis

News items of national interest regarding Condominium and Homeowner associations, compiled by the Community Associations Network

Condominiums are a popular lifestyle choice for many baby boomers, especially those who don`t enjoy time-consuming chores like landscaping. But condo life isn`t always easy. Owners could face unexpected financial pitfalls. In tonight`s “Money File,” Benno Schmidt has the story of an embattled condo owner, on a mission to save her community and her investment.
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