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