Audits, Reviews, and Compilations Understanding what your business needs is imperative to verifying financial accuracy so owners and management can make informed decisions. This cognizance is what makes Kislay Shah CPA the best match for your business. There are three different ways that financial information can be presented to owners and shareholders – each with… Read More
Kislay Shah CPA: Tailored Accounting Services for Boards of Co-op and Condominiums
Supporting Your Common Interest Realty Association (CIRA)
A Cooperative or a Condominium board carries many financial responsibilities, including obtaining an audit or review of the association’s financial statements in accordance with Generally Accepted Accounting Principles (GAAP) in the United States. Other critical financial obligations include compliance with federal and state tax laws, drawing up a budget, monitoring annual operations, managing long-term liquidity, optimally investing cash reserves, and planning for long-term capital expenditures such as improvements, modernization, and expansion.
Our Services
Kislay Shah CPA offers comprehensive financial services tailored to meet the unique needs of Cooperative and Condominium boards. Our expertise can help ensure your association's financial health and compliance with all relevant regulations. Here’s how we can assist your board:
Annual Audits and Quarterly Reviews
Ensure your association's financial statements are accurate and compliant with GAAP through thorough audits and reviews.
Tax Return Preparation (Federal and State)
Stay compliant with federal and state tax laws with our precise tax preparation services.
Preparation of Form 1098 for Cooperatives
Facilitate shareholder tax deductions with accurate preparation of Form 1098.
Budget Preparation Assistance and Review
Develop and review your association’s budget to ensure financial stability and strategic planning.
Forensic Accounting
Investigate and resolve any financial discrepancies or irregularities with our forensic accounting services.
Financial Planning for Capital Improvements/Reserves
Plan effectively for future capital improvements and reserve requirements to ensure the long-term success of your association.
Tax Planning and Compliance
Optimize your tax position and ensure full compliance with all tax regulations through strategic tax planning.
Why Choose Kislay Shah CPA?
With extensive experience in supporting Common Interest Realty Associations, Kislay Shah CPA is dedicated to helping Cooperative and Condominium boards manage their financial obligations efficiently and effectively. We understand the unique challenges faced by CIRAs and provide tailored solutions to meet your needs.
Contact Us
Ready to take control of your association's financial health? Contact Kislay Shah CPA today at kislay@shahcpaus.com for expert guidance and comprehensive financial services.
The ownership of cooperative (co-op) shares and condominiums (condos) is trending upward as the advantages of ownership are seen. For each, financial statements are audited frequently to ensure that the financial reports are accurately depicted to the shareholders and owners. At Kislay Shah CPA, we have the experience necessary to ensure the most accurate statements… Read More