Coop & Condominium Accounting

We have been providing the specialized audit, accounting, taxation and advisory services required of cooperative housing corporations and condominium associations for over 25 years. Due to the unique character of cooperative and condominium associations, it is extremely important to have an experienced accounting firm with a thorough knowledge and understanding of the accounting and tax issues related to this industry such as:

80/20 (good income/bad income) projections;
coop tax abatements/star exemptions;
senior citizen and veterans exemptions;
Subchapter T of the Internal Revenue Code

Our goal is to provide premium professional service in a timely and cost effective manner. We work together with the board of directors and managing agent to ensure the financial health and control of your cooperative or condominium association. We are committed to giving you the assurance of personal attention as we believe in the value of long-term relationships and pride ourselves on your success.

The following are some of the services that we provide to cooperatives and condominiums:

  • Audits
  • Reviews
  • Compilations
  • Preparation of tax returns and 1099 forms
  • Assistance during the budgeting process
  • Representation during tax audits
  • Computation of stockholder tax deductions (mortgage and real estate tax) pursuant to IRC Section 216
  • Consultation on mortgage qualifications and assistance with mortgage refinancing

We have the resources, qualifications, and devotion to efficiently, competently, and economically serve your cooperative or condominium.

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