Read My Blogs
By Michael Enos, CPAWashington HOA, Condominium Association (COA), and Owners Association (OA) Audit Specialist Quick Answer Many HOA board members think audits, reserve studies, and financial statements are simply legal requirements. In reality, they directly affect your community’s ability to obtain affordable insurance, qualify for…
By Michael Enos, CPAWashington HOA, Condominium Association (COA), and Owners Association (OA) Audit Specialist Quick Answer Reserve studies are no longer simply a best practice for Washington homeowners associations—they are an essential part of responsible financial management and legal compliance. Beginning in 2026, many associations…
By Michael Enos, CPAWashington HOA, Condominium Association (COA), and Owners Association (OA) Audit Specialist Quick Answer Washington’s updated HOA laws changed how association budgets are adopted. Under the Washington Uniform Common Interest Ownership Act (WUCIOA), most associations follow a budget ratification process rather than a…
By Michael Enos, CPAWashington HOA, COA & OA Tax and Audit Specialist Quick Answer Every homeowners association must file a federal income tax return, but not every association should file the same one. Most Washington HOAs choose between IRS Form 1120-H and Form 1120 each…
By Michael Enos, CPAWashington HOA, Condominium Association (COA), and Owners Association (OA) Audit Specialist Quick Answer Beginning January 1, 2026, many Washington homeowners associations and condominium associations must comply with expanded financial reporting requirements under the Washington Uniform Common Interest Ownership Act (WUCIOA). Associations with…
Introduction For many volunteer board members of homeowners associations (HOAs) and condominium associations, deciphering monthly financial reporting for HOAs can feel like navigating a complex maze. The sheer volume of data, coupled with often obscure terminology, frequently leads to frustration and a sense of overwhelm. Yet, at…