Homeowners associations are unique entities with specific challenges. These "Common Interest Realty Associations" have complex reporting and tax compliance requirements. With our expertise and the knowledge we helped, associations to manage their accounting need and filing taxes.
Our services include:
Reviews, and compilations
Other agreed upon procedures
Reserve and budgeting consultation
Why should you hire us?
Complexity – HOA tax returns are complex. An in-depth knowledge of complex IRS and state tax codes are required to prepare an 1120 or 1120-h tax return. If you have researched HOA taxation you know that filing form 1120-his not your only option.
CPAs have been accredited by the state and are qualified through years of experience and continuing education to handle the complexities involved in preparing an association’s tax return.
Using a CPA can save the association money. More often than not associations miss deductions and fail to analyze the benefits of filing the more complex form 1120. We make it our goal to stay ahead of the curve in all areas of technology. We have efficient processes and we work closely with you or your management company to streamline managing your association data. All our client have access to our client portal where we maintain digital records of your tax returns, Accounting records and supporting documentation which is available upon request for up to seven years.
We not only prepare your tax return but add value as a source of advice and experience when dealing with the financial and tax position of your association.
ATC has extensive experience in preparing form 990 for non-profit organizations too. We know how to negotiate the complexities of such organizations and m communicate effectively with boards of the organization. We work with business owners associations, commercial condominiums, business parks, yacht clubs and other entities in addition to HOAs.