The law provides that nonprofit corporations, including community associations, must "act" through their board of directors. The board of directors is (typically) made up of community members who volunteer to serve as...more
With federal and state elections less than forty-five days away, political signs are popping up in yards everywhere. Many community associations have restrictions in their declaration or covenants, conditions, & restrictions...more
Was your community association lucky enough to come in under budget last year?
On the surface, this might appear to be a bonus, but if not handled properly, it can quickly turn into an unexpected tax burden. ...more
10/5/2023
/ Budgets ,
Community Associations ,
Condominium Associations ,
Fees ,
HOA Dues ,
Homeowners Association (HOA) ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Membership Agreements ,
Revenue ,
Taxation
There are approximately 14,000 planned communities located throughout North Carolina, but very few of the nearly 3 million residents of such communities have a clear understanding of what the heck the community association...more