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Find Blog Articles for Florida’s Condo, HOA and the Management Industry. 

1099-K Confusion on the Horizon

1099-K Confusion on the Horizon

The American Rescue Plan Act of 2021 lowered the filing threshold for payment processors and credit card companies from 200 transactions or $20,000 to just $600 for 2022 — but the IRS delayed the effective date until 2023.
Because of this taxpayers that use credit card processors PayPal, Venmo and Zelle are going to be receiving a 1099-K for 2023 — even if they only have a few transactions. Worse yet, the IRS is going to be looking to match the income reported on these 1099-Ks to the tax returns filed by these taxpayers.

What can taxpayers do?

What can taxpayers do?
Start by letting the payment originators know to mark the payments that are not business related (should not be income and subject to tax) as personal on the chosen platform. If you end up picking up the lunch tab and being reimbursed through Venmo or Zelle be sure to remind your friends to mark the transaction as non-business. This also holds true for gifts, reimbursements, and other non-taxable payments.

At tax time be sure to share these documents, like all tax forms you receive, with your tax professional, so they can see that income reported on 1099-Ks is properly reported on your tax return.

One thing we as tax professionals are sure of is that these 1099-ks are going to generate a lot of confusion for taxpayers in addition to a lot of IRS notices that will need to be delt with long after the 2023 returns are filed.

Learn more on this week’s blog post:

https://www.rmsaccounting.com/2023/08/08/1099-k/

 

Find other fantastic articles and Accounting information:

 

 

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Having an Enrolled Agent (EA) can benefit you in several ways, especially when it comes to your tax-related matters.

Having an Enrolled Agent (EA) can benefit you in several ways, especially when it comes to your tax-related matters.

  • Posted: Aug 01, 2023
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Having an Enrolled Agent (EA) can benefit you in several ways, especially when it comes to your tax-related matters.

What can an Enrolled Agent Do for You?
Here are some of the key benefits of working with an Enrolled Agent:
*Tax Expertise: Enrolled Agents are licensed by the IRS and have expertise in all areas of taxation. They can help you with tax planning, tax preparation, and tax resolution.
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*Representation: If you are facing an audit or other tax-related issue, an Enrolled Agent can represent you before the IRS. They can help you understand your rights and responsibilities and work to resolve the issue in the most favorable way possible.
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*Communication: Enrolled Agents are skilled at communicating complex tax issues in a way that is easy to understand. They can help you navigate the often-confusing world of taxation and provide you with guidance and advice as needed.
Savings: Working with an Enrolled Agent can help you save money by identifying deductions and credits that you may have overlooked. They can also help you avoid penalties and interest by ensuring that your taxes are filed accurately and on time.
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*Convenience: Enrolled Agents can work with you remotely or in person, depending on your needs. They can also provide you with ongoing support throughout the year, not just during tax season.
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Having an Enrolled Agent on your team can provide you with peace of mind and confidence in knowing that your tax-related matters are being handled by a licensed and experienced professional.

RMS AccountingAll of the tax professionals at RMS Accounting are Enrolled Agents with over 75 years of combined experience helping taxpayers resolve tax problems and to pay the lowest tax allowed by law.
Want to talk to one of your tax professionals just give us a call at 800-382-1040.
Structural Workshop is pleased to announce their recent expansion into the South Florida market.

Structural Workshop is pleased to announce their recent expansion into the South Florida market.

  • Posted: Jul 18, 2023
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Pompano Beach, Florida – Structural Workshop is pleased to announce their recent expansion into the South Florida market.  The new office is located in Pompano Beach, Florida and will be Structural Workshop’s third office.

 The Mountain Lakes, New Jersey based firm will bring their extensive experience in conducting building inspections and reports, specifically for commercial, multifamily residential and parking structures to the South Florida market – specifically in Miami-Dade, Broward, Palm Beach, Pinellas and Collier Counties.

Structural Workshop plans to help building owners and property managers with all facets of structural engineering and assist with the 40 Year Recertification Inspections, which are now a mandatory, state-wide ordinance.

“There is a lot of opportunity in the condo world and beyond for engineering services in Florida,” says President Joe DiPompeo, PE, F.SEI, F.ASCE.  “There is an immediate need to help condo associations and commercial buildings keep up with compliance and maintain a safe place for their tenants. We also have some multifamily ground up projects in Florida that we can better serve from a Florida office.”

About Structural Workshop

Structural Workshop is a Structural Engineering and Building Consulting firm founded in 2004. We provide a full range of Structural Engineering and Building Consulting Services for all types and sizes of projects from a single-family home to mid-rise buildings and everything in between. For more information, please visit:  www.structuralworkshop.com or contact us at info@structuralworkshop.com

Florida Office

2301 NW 33rd Court, Unit #102
Pompano Beach, FL 33069
(754) 277.4245

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Safeguard Your Lake’s Shoreline by SOLitude

Safeguard Your Lake’s Shoreline by SOLitude

Safeguard Your Lake’s Shoreline

Protect your lake by properly planning and budgeting for shoreline restoration and management. There are solutions for every budget, from cost-effective vegetative shoreline buffers to innovative erosion repair systems.

Budgeting for Shoreline Restoration and Management

Lakes and ponds are essential for stormwater collection, recreation, beauty, and wildlife refuge. But their benefits have an expiration date. Eventually, due to erosion and other aspects of the natural aging process, your lake can become an eyesore and a liability. Lake shoreline restoration projects are inevitable – and sometimes costly – so it’s imperative to get ahead of expenses by calculating an accurate timeline and budget.

We know you cherish your water resources; after all, they can be assets that enhance the value and desirability of your property. We want to help you preserve them for as long as possible through proper planning and maintenance efforts. This starts with understanding the effects of erosion and budget considerations that impact important decisions.

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What is shoreline erosion?

Erosion is natural due to wind, rain, and wildlife activity, but can be accelerated through cultural impacts like recreation, landscaping, and construction. It can also look different from one waterbody to the next, from receding or unstable banks to sediment deposits along the shoreline. Ignoring these signs can result in damaged assets and possible liability risks.

No matter your budget, every property deserves access to shoreline erosion solutions. Even if the damage is minimal, such as one-inch dropoffs, it’s possible to get ahead of it through cost-effective means or larger investments.

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Guard Your Shoreline with A Vegetative Buffer

An economical solution for shoreline protection is a vegetative buffer containing native plants with deep root systems. When established around the perimeter, beneficial buffers help hold soil in place and slow the flow of stormwater to prevent deterioration. Buffers are also cost-effective to maintain, requiring only routine trimming and monitoring for the growth of undesirable plants.

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Manage your annual meetings from anywhere! with BuildingBoard, the solution that lets you manage annual meetings and elections remotely or in-person.

Manage your annual meetings from anywhere! with BuildingBoard, the solution that lets you manage annual meetings and elections remotely or in-person.

  • Posted: Jul 18, 2023
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Manage your annual meetings from anywhere!
From BuildingLink, the name you trust.

BuildingLink, the industry’s most trusted property management software, has an exciting new product!

Meet BuildingBoard, the solution that lets you manage annual meetings and elections remotely or in-person.

Save time and money!

Let us show you how we can help!

BuildingLink has an exciting new product.

Meet BuildingBoard, an e-voting and virtual meeting solution to streamline annual sessions for your properties. With this tool, you can:

·        Invite unit owners to meetings seamlessly via email

·        Send meeting reminders and add candidates to ballots

·        Host annual meetings virtually

·        Achieve quorum at every annual meeting

·        Automate voting – each unit owner votes via their computer or smartphone (whew, no more manual counting!)

Click here to learn more BuildingBoard
and start running a better meeting today!

So, go ahead and kick up your feet! Optimize all of the day-to-day business you already take care of with BuildingLink by trusting us to support your annual meetings too.

Ready to make your life easier?
Reach out to sales@buildingboard.com.

Richard Worth

Regional Sales Director – Florida

407-529-6063

Richard@BuildingLink.com

HOA Parking Lot Flooded?   Now is the time to give  Allstate Resource Management a call!

HOA Parking Lot Flooded? Now is the time to give Allstate Resource Management a call!

HOA Parking Lot Flooded?

Allstate Resource Management

Our schedule is filling up fast for storm drain cleanings, the rain that occurred yesterday was a preview of what summer will look like for your HOA community. Do not hesitate to act, summer rain is coming!

Contact us to talk to a Stormwater Specialist today!

Contact us at 954-382-9766 or info@allstatemanagement.com

 

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We are dedicated to the highest level of expertise in assessing the state of aging structures. Our staff is committed to saving clients time and money by determining any repair quantities during inspection.

We are dedicated to the highest level of expertise in assessing the state of aging structures. Our staff is committed to saving clients time and money by determining any repair quantities during inspection.

Coastal areas like South Florida have a unique need for concrete rehabilitation and protection services predominantly related to assessing structural damage.

SRI Consultants, we provide the highest level of expertise in assessing the state of aging structures and are committed to saving clients time and money by determining repair quantities during inspection. With over thirty-five years of experience, and a registered professional engineer in Florida & Virginia, the president and founder of SRI, Mr. Shirish “Raj”pathak, is a NACE Cathodic Protection Specialist. We have specialists in structural engineering, civil engineering, environmental engineering and corrosion engineering at your disposal. The extra effort and attention to detail put forth by our team ensure you receive the highest quality services available to the industry.

We are dedicated to providing the highest level of expertise in assessing the state of aging structures. Our staff is committed to saving clients time and money by determining any repair quantities during inspection.

 

ARCHITECTURE

Creativity + Partnership. Our architectural services include new building design, remodeling, site planning, interior design, and historic renovation. We collaborate with independent architects to ensure the excellence of site plans, building design and finishes.

ENGINEERING

Technical Expertise. We are experts in our field with certifications from NACE and FL Board of Professional Engineers. Our team offers civil, environmental, structural and corrosion engineering services for single & multi-story structures, condos, hotel and motels, cooling towers and seawalls.

STRUCTURAL REHABILITATION

Comprehensive Solutions. Together, we have over 50 years of experience in structural rehab, offering a full range of integrated services including condition assessments, testing, specifications preparation, bid & permit prep and project management.

TESTING

Precision + Innovation. We use the most advanced tools to identify concrete defects, assess steel corrosion, and locate moisture in structures. We offer remediation services to measurably extend the life of your investments.

 

We have specialists in structural engineering, civil engineering, environmental engineering and corrosion engineering at your disposal. The extra effort and attention to detail put forth by our team ensure you receive the highest quality services available to the industry.

COMMUNITY ASSOCIATION WEBSITES  By Eric Glazer, Esq.

COMMUNITY ASSOCIATION WEBSITES By Eric Glazer, Esq.

COMMUNITY ASSOCIATION WEBSITES

By Eric Glazer, Esq.

As you all know by now, Florida condominiums having 150 or more units must have a website that only owners can access and which posts the official records of the association.  Here’s a little background as to how the law was passed.  When originally drafted, the law was only to apply to condominiums with 500 or more units.  That was ridiculous.  So, I flew up to Tallahassee and met with the then Speaker of the House and informed him that the law was a fake, inasmuch as less than one percent of all condominiums in the state contained 500 or more units.  I suggested 50 units.  The compromise was 150.

I never heard one person tell me this was a bad law.  In fact, it’s a great law.  It’s about transparency.  It takes the burden off of managers having to respond to requests for records.  It prevents lawsuits or arbitrations, as long as the website is kept up to date.

Just because the law requires condominiums of 150 units or more to have a website does not mean that condominiums of less than 150 units cannot have a website.  In fact, in this attorney’s opinion, if your condominium contains 50 units or more, you can and should have a website for the same reason that condominiums with 150 units should.

Think about how large some HOAs are.  Many contain well in excess of 500 homes and are sprawling mini cities.  You would think that those communities should be required to post their records on an official website as well.  But no.  HOAs are not required to have a website.  There is simply a hands off approach when it comes to HOAS.

Again, just because the law requires condominiums of 150 units or more to have a website does not mean that HOAs cannot have a website.  In fact, in this attorney’s opinion, if your HOA contains 50 homes or more, you can and should have a website for the same reason that condominiums with 150 units should.

This is one law the legislature should amend.  All communities, both condos, co-ops and HOAs with 50 or more units or homes should be required to have a community association website where the official records and notices of meetings are posted.  Bottom line…….it will make the residents less suspicious and happier.


Community associations, whether condominiums, co-ops, or HOAs, are responsible for providing transparency to their owners. One way to achieve this is through a community association website. In Florida, the state recognizes the importance of transparency in community associations and requires condominiums with 150 or more units to have an owners-only website that posts official records. However, this requirement should extend beyond just large condominiums.

Community associations of all sizes should consider having their website to give owners transparency. Even if a community does not meet the state-mandated requirement, having a website is still a good idea.

A website can provide owners with easy access to official records, notices of meetings, and other important information. It can also help reduce the burden on managers to respond to document requests. Additionally, it can prevent lawsuits or arbitrations if the website is kept up-to-date. It’s about more than just meeting legal requirements. It’s about providing owners with a sense of transparency and openness. This can build trust between the board, management, and owners and foster a happier community.

However, it’s important to note that the community association website should be more comprehensive than just the required information. It should also include commonly asked questions, how to apply to the association, how to pay fees, and other relevant information owners may need. This will help to make the website more user-friendly and informative for owners.

In conclusion, having a community association website is essential for transparency, no matter the size of the community. It can build trust and create a more positive living experience for all owners. The state of Florida has recognized the importance of transparency in condominiums, and it is time for all community associations to follow suit by establishing their websites with informative content.


I guess the Florida Legislature thought they did a great job to assure transparency in condominiums when they enacted bills in 2017 and 2018 [FS 718.111(12)(g)], that required condominium associations with more than 150 units to operate a website featuring all so-called “public documents”.

They would have done a great job — the bills were actually well intended – if there would be as well some sort of enforcement.

In the real world we are seeing lots of totally incomplete websites, only showing what board members and CAMs want the owners to see – and otherwise it’s business as usual.

The fights over record requests are keeping arbitrators and courts busy – and the attorneys are still smiling at their bank account statements.

If the legislators thought that they finally found a solution to end litigation about association records they were dead wrong.

Everybody knows that laws without enforcement are pretty useless and all these laws created each year are only laws for the rich, meaning the folks who have enough money to hire attorneys and fight for their rights, given to them by these kinds of laws, in district and appeals courts.

Wouldn’t that mean that all these laws, created year for year adding to the community association statutes, are only LAWS FOR THE  RICH?

Every other owner who might dare to mention at a board meeting that the board is violating statutes can still be told by the association attorney: “Sit down and shut up. You don’t have the money to sue the association!”

 

Read more industry articles on Florida HOA & Condo Blog – 

 

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Allstate Resource Management Family owned and operated for over 25+ years! Headquarters located in South Florida!

Allstate Resource Management Family owned and operated for over 25+ years! Headquarters located in South Florida!

A Company You Can Trust!

We service 300+ HOA Communities, let us help yours!


Allstate Resource Management Family owned and operated for over 25+ years! Headquarters located in South Florida!

Contact us today at:
Direct: 954-382-9766
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Finding the top Companies working in our Industry is important for Property Managers, Condo & HOA Board Members.

Finding the top Companies working in our Industry is important for Property Managers, Condo & HOA Board Members.

  • Posted: Apr 26, 2023
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Many Property Managers, Condo & HOA Board Members use our members in the buildings and communities they manage, for them this equates to happier residents, fewer high-priced emergency repair bills and cost savings overall. Through membership marketing its all about forming relationships that lead to increased business for your company and lasting relationships for you.

Join and Become a Member

SERVICEBUSINESSMANAGEMENT

MEMBERSHIPS

SFPMA is thankful to the various vendors that have become members that service the many managed communities over the years. All Companies that wish to work with the Florida Property Management, Condo and HOA industries are listed, They are then in a position to be selected to work on properties all over the State of Florida.  SFPMA has a responsibility to properly screen all vendors prior to authorizing memberships for service requests and bidding out contracts for our Clients.

 

When you are listed on the Florida Directory, Clients can find you as one of the Top Companies used in our industry. Your company will benefit from being listed. “Start forming lasting relationships in the Property Management Industry”

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