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).