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The Tax Man Cometh
Our January goals include the proofing of interest statements and preparation of 2011's year end financial reports. Check with your manager to see if you want a newsletter mailed along with the year end report. Once reconciled, financials will be forwarded to the CPA's for use in preparing the 1120 or 1120H tax forms for your community. The signature of a Director is required on the form and due to be mailed before March 15, 2012. Managers will be reviewing excess membership income such as clubhouse rentals, laundry coins and carport fees against associated expenses for those common elements to reduce potential taxes. Follow this link to an informational article on tax preparation.
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Community Spotlight
Your Condo Association Could Be next!
In 2012 we would like to begin highlighting some of the associations we work closely with. We want to sing the praises of your association and spotlight some of your recent achievements.
I am encouraging you to send me a quick e-mail to let me know you are interested. If you have completed a particularly large capital improvement project, amended your governing documents, or have overcome a disaster of some sort, we want to hear about it.
It is well known that when we have the opportunity to learn from the challenges of others we can move forward in our own right with the confidence that someone else has accomplished the daunting task before us.
Please e-mail me soon to get started. Each month we will highlight one of our partner communities and focus in on their accomplishments. Don't Wait!! Our calendar will surely fill up fast. |
