HOA Tax Preparation
Professional Tax Preparation for Homeowner Associations
At Dynamite Management, we specialize in preparing Form 1120-H, "U.S. Income Tax Return for Homeowner Associations," ensuring your association remains compliant with federal tax requirements.
Our experienced team understands the unique tax considerations for HOAs and condominiums, helping to maximize legitimate deductions while maintaining full compliance.
Flat Rate Pricing: $150
Unlike other firms that charge variable or hourly rates, we offer a simple, transparent flat fee of just $150 for complete HOA tax return preparation.
Our Simple Tax Preparation Process
Contact Us
Reach out to us with your association's basic information to get the process started.
Engagement Letter
We'll send you an electronic engagement letter outlining our services and responsibilities.
Document Collection
We'll provide a list of required documents and work with you to collect all necessary information.
Preparation & Filing
We prepare your return and send it to you for review and filing with the IRS.
Benefits of Professional HOA Tax Preparation
Filing taxes for homeowner associations requires specialized knowledge of tax laws and regulations that apply specifically to HOAs and condominiums. Our team has the expertise needed to correctly prepare your Form 1120-H.
What We Need From You
To prepare your association's taxes, we'll need some basic information including:
- Association's legal name and EIN
- Name and contact information for an officer
- Financial statements for the tax year
- Previous year's tax return (if available)
Frequently Asked Questions
Form 1120-H is the "U.S. Income Tax Return for Homeowner Associations." HOAs are required to file annual tax returns with the IRS, even if they operate as nonprofit organizations. This form allows associations to be taxed only on specific income like interest earnings and fees for services, rather than membership dues and assessments.
Filing this form helps maintain your association's tax-exempt status for membership income and protects your organization from potential penalties or audits.
For most HOAs operating on a calendar year (January 1 - December 31), Form 1120-H is due by April 15th of the following year. If your association operates on a fiscal year, the return is due on the 15th day of the 4th month after the close of your fiscal year.
Extensions are available if needed, but must be requested before the original due date. We recommend starting the preparation process at least 6-8 weeks before the deadline to ensure timely filing.
If your association has never filed taxes, we can help you get into compliance. The IRS has programs for organizations that have fallen behind on filing requirements, and we can guide you through this process.
We'll work with you to gather historical information as needed and develop a strategy to bring your association current with tax filings while minimizing potential penalties.
Contact us for a consultation specific to your association's situation.
We're able to offer our flat rate of $150 because we've specialized in HOA and condominium association tax preparation, allowing us to develop efficient processes specifically for Form 1120-H preparation.
Unlike general accounting firms that may charge higher rates due to less familiarity with HOA-specific returns, our focus allows us to pass savings on to our clients while still providing expert service.
Our goal is to make professional tax preparation accessible to associations of all sizes.