Consider 16 Factors to Avoid Tax Liability for Worker Classification
Like any other business or organization, community associations must file taxes with the government. And tax liability is a huge issue that associations need to be aware of. Improper reporting can land the association in hot water and cost thousands in fines, penalties, and late fees. With the New Year just here, April—the month in which federal and state taxes must be filed—might seem far off. But properly doing necessary paperwork and consulting with the association’s accountant can take time. So planning ahead is key.