I’m joined by Jeremy Mehrhoff and Frank Wright of Mehrhoff & Wright HOA CPA Firm —a firm that specializes exclusively in condominium associations, HOAs, and co-ops (CIRAs). With offices in Bonita Springs and Destin, they serve associations across Florida, focusing on audits, reviews, compilations, and tax returns—not day-to-day bookkeeping.
What you’ll learn
- Audit vs. Review vs. Compilation (what each includes, who needs which, typical costs)
- Florida’s updated requirements (you can only waive financial reporting every other year now)
Revenue thresholds at a glance
- $500k+: Audit (at least every other year)
- $300k–$500k: Review
- $150k–$300k: Compilation
- Internal controls that prevent fraud (board access/signers on bank accounts, oversight tips)
- Taxes for associations (nonprofit ≠ no tax return)
- What’s taxable: interest/investments, rentals, laundry, amenity fees
- Filing choices: short HOA form vs. corporate return (30% vs. 21% flat rates) and why you can choose each year
- Why most associations still end up owing $0 with proper deductions
- Self-managed communities: why to consider professional bookkeeping and HOA-specific accounting platforms over generic tools
- CEUs for CAMs: Their firm offers onsite lunch-and-learn courses (financials, audits, tax basics, budgeting).
