Owning a home, condominium, or a townhome in a gated community in Wisconsin, you probably are part of a homeowner association (HOA) a condominium association. You have an obligation to follow agreements like restrictions, conditions and covenants put in place and also contribute dues and assessments to be used to maintain the shared areas like […]
South Carolina HOA & Condominium Association Tax Returns: Simple Tips
Living in a residential development that is planned according to community standards and provide social amenities like parks, clubhouses for everyone residing within the community means you are part of a homeowner or a condo association. Residents contribute funds towards maintaining these common areas through dues and assessments. In recent years, issues have arisen over […]
Filing a Louisiana HOA or Condo Association Tax Return: Tips & Tricks
Over the recent years, issues have arisen over the management of Louisiana HOAs and condo associations, and their communities. One common issue is filing federal and state taxes. Many homeowner associations, especially self-managed associations, do not know about the requirement to file tax on their association and therefore do not file. Well, here are some […]
Minnesota HOA and Condo Association Tax Return: Step by Step Process
Many Minnesotans live in homes and condos that are ruled by homeowners associations, condo associations or community associations. These associations set rules and regulations to be followed and collect dues and assessments to be used to manage the shared properties within the community. Homeowner associations and condo associations often act like non-profit corporations. Federal law […]
Kentucky HOA & Condo Tax Return: Step by Step Guide
Most Kentucky homeowner associations and condo associations are classified as non-profit corporations pursuant to the Non-profit Corporations Act. Non-profit corporations are considered as corporations for federal and state tax purposes and must file tax returns just like any other corporation across the states. The returns are due by 15th of April each year if an […]