Home

Ned, Your association is in a different situation than the original poster's situation. A major renovation that includes painting would get treated as a Capital Improvement. Painting by itself it not a Capital Improvement because it does not fall ...

Catherine: The lawyer in me does not agree with your delineation between condos and HOA's. I know several condominiums where the unit owner owns the foundation through the roof, and sometimes even owns a defined piece of land. Likewise, I know of HOA's ...

While I'm not a CPA, Sara, I think that under IRS rules that there are circumstances that painting, if part of a larger restoration project can be considered a reserve/capital expense. We're about to paint the hallways in our residence tower later ...