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Condo/Homeowner Associations

Condominium and Homeowners' associations are unique entities because each year they can choose which tax return to file and, in turn, which tax rate to pay. As a CAI member, Buckno Lisicky & Company can help you with financial and accounting issues such as:

  • Choosing the Short Form 1120-H or Long Form 1120 to file taxes
  • Financial statement preparation
  • Maximizing reserve cash flow
  • Funding for future repairs
  • Maintenance, transition and assessment issues
  • Using the cash basis of accounting, the accrual basis or both