Buildium

DECEMBER 17, 2024

Starting in 2018, Congress established a new deduction for pass-through business owners, including property managers ( IRC Section 199A). Under IRS regulations, any personal property you buy for your business that costs less than $200 is deductible as materials and supplies. They include everything from paperclips to postage stamps.

Property Management 246

Property Management Property Manager Management Property 246

Condo Control

NOVEMBER 21, 2024

Communities that haven’t had a reserve study completed since October 1, 2018, must undertake one no later than October 1, 2023. The association may stop providing statements to an owner if collection activity begins by an attorney or collection agency that is not acting as the association’s managing agent.

Electronics 246

Electronics Condominium Government Litigation 246

Condo Control

NOVEMBER 11, 2024

Many states have or are considering enforcing laws that regulate reserves. Maryland HB 107 requires condominiums and HOAs that have conducted a reserve study on or after October 1, 2018 to complete an updated study within five years, and continue to do so every five years thereafter.

Condominium 130

Condominium Maintenance Government Management 130