HOA Fees: The Basics

One of the biggest ongoing costs of owning a home is the monthly HOA fees you have to pay. When it comes to these fees, many prospective and current homeowners will be left with some questions? How much does the average homeowner pay in HOA fees? Where does the money go, and how does it…

form 1120-h

What You Need to Know About Form 1120-h

The IRS treats homeowners associations (HOAs) and condominium associations (COAs) as corporations, regardless of whether they are residential or commercial. This means they are required to file a federal income tax return. In some states, these associations are also expected to submit a state tax return. Note that the requirement to file returns doesn’t necessarily…