The two Form 1120-H audits resulted in no additional taxes being assessed. ALL 47 of the Form 1120 tax audits resulted in additional Telephone Number List taxes being assessed. I was presented with the following challenge this past tax season: informing several new clients that they had tax exposure on their prior year Form 1120 tax returns; educating them as to Telephone Number List the risks inherent in that form; and convincing them that the minor additional tax they would pay on Form 1120-H should really be viewed as buying an insurance Telephone Number List policy against a future tax assessment.
Gary Porter, CPA, RS, PRA, has Telephone Number List been working in the community association industry for more than 30 years. As a CPA, he has performed thousands of association audits, and prepared thousands of association Telephone Number List income tax returns. He has specialized in the preparation of tax exemption applications, and has successfully taken more than 70 associations tax exempt, at a cumulative tax savings of millions of dollars. He is the Telephone Number List primary author of PPC's "Guide to Homeowners Associations" and "Homeowners Association Tax Library," which serve as the principal guides used by CPAs within the community association industry.
He is considered to be one of the foremost financial experts for associations, and has been quoted or published in the Wall Street Journal, Kiplinger's Telephone Number List Telephone Number List Personal Finance, Common Ground, The Ledger Quarterly, and The Practical Accountant. He is also the author of the American Institute of CPA's course "Providing Services to CIRAs (Common Interest Realty Associations)." People Telephone Number List Magazine has a section within entitled, "Stars, They're Just Like Us." They show celebrities walking their dogs, playing with their kids, eating an ice cream cone or (gasp) hanging out at the beach with a tiny bit of cellulite showing! It humanizes them and makes the general public aware of the fact that no, they don't sit around counting their money all day basking in the adoration of the general public. They get sick, they stub their toes, they drip ice cream on their shirts and yes, their bodies are NOT perfect.