News and Blog

As a property manager or community association board member, sometimes it’s tough to remember that associations are businesses. Some of them are pretty large, with hundreds of thousands of dollars in dues collected and expenses paid each year. That requires regular, proactive monitoring to ensure that issues, like mistakes or
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phone with financial apps on it
Are you a business owner or gig worker who accepts payment through Venmo, PayPal, Cash App or another digital payment app? If so, there’s a new IRS law effective January 1 that changes reporting requirements for money received through these apps when using a business account. Don't be alarmed, this
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Homeowners Association HOA written on a model of home.
If you read our articles, you may remember some of these financial horror stories:  Board member skims thousands of dollars from dues payments.  Vendor double-bills pool maintenance expenses. Property manager steals $300,000 by fabricating financial statements. Developer empties the reserve fund to cover operating expenses.   Even the most active, cautious
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Woman working from home
If you worked from home during 2021, you may be wondering if you can deduct any expenses related to setting up your home office. The answer depends on whether you were an employee or an independent contractor. But home office expenses aren’t the only tax issue to consider when working
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red cartoon house with coins stacked in front and tax forms
You may not owe, but you still need to file!  Especially with self-managed communities, there seems to be a lot of confusion and questions about community association taxes and tax returns. The bottom line is that community associations need to file federal tax returns, and most are now due on
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House Models Around HOA Cubic Blocks
All over Georgia, new “volunteers” are preparing to take their seats on an HOA or community association board of directions. Most boards have some, if not a majority, or seats turn over each year, with new board members voted in at annual association meetings. Board members play a critical role,
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Aerial photo site of the collapsed Champlain Towers South in 202
The tragic collapse of the Champlain Towers South condominium in Surfside, FL, has left condo owners and HOA boards wondering how such a thing could happen. Following the incident, countless news stories pointed to underfunded reserves, squabbling owners and board members, delayed repairs, and escalating costs. They cited a 2018
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Wooden blocks form the text 'lessons learned' on beautiful canvas background. Business concept.
The October 15 deadline for filing extended 2020 returns is just around the corner. Whew! Reflecting back over the past five months since the delayed May 17th Tax Day, 2021 tax season has continued to be the most unusual one yet.  Here’s an updated list of some of the things
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Documents about Homeowners Association HOA on a desk.
Always Be Conscious of your community association’s financial health! With many schools now back in session, and our children learning everything they forgot over the summer, we thought it would be fun to prepare a primer with tips for good HOA and community association financial management.  The vast majority of
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