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How To Check an HOA’s Financial Health
An HOA cannot operate without adequate funds. It requires finances for repairs, renovations, upgrades, routine maintenance, long-term projects, and daily expenses. Misappropriation of finances and resources can impede an HOA from achieving its goals. As such, checking the financial health of an HOA is essential for all community members. This guide explains how to check…
How Often Should You Audit an HOA in Florida?
HOA audits are critical to ensuring transparent financial reporting. They can be internal or external, depending on the size of the HOA and relevant state laws. So, how often should an HOA be audited? This guide explains everything you need to know about HOA audits and why it is essential. The Importance of HOA Audits…
HOA Accounting Methods and Financial Reporting
HOA accounting is an integral part of managing a homeowners association. It ensures financial statements are accurate and up to date. Its primary objective is to help HOA communities attain financial stability and success. However, tracking financial records can be tedious and challenging for most HOAs. After all, these associations comprise part-timers with multiple responsibilities.…
A Complete Tax Preparation Checklist for Your Small Business
Filing taxes is mandatory for all businesses. However, it can sometimes be daunting for emerging businesses since it is not a one-size-fits-all solution. You may have to deal with different tax categories and returns. You will also encounter various tax forms you must fill out when filing your taxes. This guide provides a small business…