Condominium CPAs – Tax & Accounting Services for Condominium Associations
At Schultz & Associates, CPA, we provide Metropolitan Detroit Michigan condominium associations with audit, review and compilation support in compliance with CIRA and AICPA guidelines. We are a top condominium CPA firm. Though we are retained by the association’s Board of Directors, we do our best to work directly with the Managing Agent so that board member interaction is kept to a minimum.
Additionally, we can help address:
- Association federal tax return preparation and advisory needs.
- Association budgetary and replacement reserve issues.
Fees for condominium associations are billed at a predetermined fixed rate prior to the commencement of the accounting engagement. Returns on proposals are quick, most often within the same day.
FEE SCHEDULE FOR CONDOMINIUM SERVICES
Number of Units
Audit and Tax
Review and Tax
|Each Additional Unit||
Get Help for Your Condominium Association
If your condominium association needs to be audited or wants guidance on tax-related matters, give us a call. We work with condominium associations state-wide. We’d be happy to discuss your current situation and make some recommendations during a free consultation.
Contact us today to schedule yours and rest easy knowing that with our help your filings will be simple.
Why Our Fees Are Less
We are condominium CPAs. We understand the Condo Act and the requirements an Association has. We have preformed over 1,000 condominium engagements over the past 5 years. Our checklists are customized for Condo Association and Homeowners Associations. We understand that more units does not necessarily make for a more complex audit or review.
Tips from the Condominium CPAs
- 99% of the Condominium Associations that we have worked with do not have the proper procedures in place required to file a Form 1120.
- Almost every Condominium Association that we work with should be file Form 1120H.
- A Reserve Study is a vital part of a properly run Association
- Most states have rules that require a Condo Association to have an annual review or audit of their financial statements.
- Most Master Deeds also contain provisions requiring either an annual audit or review.
- The Board of Directors should be sure to have an D & O policy in place.
- Most states have minimum requirements for Reserves.
Form 1120 Vs. Form 1120S
These videos will explain why our firm tends to file the 1120H for our condo clients
- United Condominium Owners of Michigan
- Michigan CAI
- Community Associations Institute
- Association of Professional Reserve Analysts