It’s that time of the year again to prepare for your partnership’s calendar year end audits and tax returns. Below are some tips to help owners and managers of affordable housing partnerships help ensure reporting deadlines are met and to minimize the disruption by auditors and tax preparers to your day to day operations.

It’s that time of the year to prepare for your partnership’s calendar year end audits and tax returns. Below are some tips to help owners and managers of affordable housing partnerships help ensure reporting deadlines are met and to minimize the disruption by auditors and tax preparers to your day to day operations.

It’s time to prepare for audits and tax returns for calendar year-end entities. Read on for some tips to help owners and managers of low-income housing tax credit partnerships help ensure reporting deadlines are met and to minimize the disruption by auditors and tax preparers to your day to day operations.

It’s almost that time of year again…Audit and Tax Season for calendar year-end entities! Planning ahead for financial statement audits and tax return preparation is important in achieving efficient audit and tax processes. 

The following is a list of items that owners and managers of low-income housing tax credit projects can refer to in order to help ensure reporting deadlines are met and to minimize the disruption by auditors and tax preparers to your day to day operations. 

“How long do we need to keep …” is a question we often hear from clients. No one wants to keep more paper than they need to, and no one wants to be missing that one piece of paper when they need it. A.J. Johnson of A.J. Johnson Consulting Services, Inc. provided the following list of records common to affordable housing developments and how long they should be retained.

Audit and tax season for calendar year-end entities is here.  Being proactive in preparation for financial statement audits and tax return preparation is important in achieving a seamless and efficient audit process. 

The following is a list of items that owners and managers of low-income housing tax credit projects can perform to help ensure reporting deadlines are met and to minimize the disruption by auditors and tax preparers to your day to day operations. 

As the holiday season approaches, we know that audit and tax season for calendar year-end entities is not far behind.  Being proactive in preparation for financial statement audits and tax return preparation is important in achieving a seamless and efficient audit process.   There are many things that can be done for an efficient audit and tax season that we can be thinking about as we’re approaching the year end.

The following is a list of items that owners and managers of low-income housing tax credit projects can look into now to help ensure reporting deadlines are met and to minimize the disruption to your day to day operations. 

Information technology most likely plays a large role in the day to day operations of your property. There are several steps you and your employees can take to safeguard the electronic information of your properties.

A great article was recently written by David Hammarberg, our Director of IT. Dave’s article was recently published on our McKonomics blog, but here is a repost of the entire article.

The world of information technology has a great many facets. There are a variety of considerations relative to security, software, applications, operating systems, and other areas. However, regardless of the technology you're using, there are foundational areas that must be considered for any computing environment. These are the basics of security; these are the 10 tips for success.

1. Passwords

Passwords are vital to securing any access. A password is like a key or combination lock, the more complex the combination, the better a lock will be. Each password should be unique to the device, website, or asset you want to protect. What could happen if someone knew your password?  What-if scenarios will help you to decide how strong you want to make your password.

2. Antivirus and Malware

You do not want to have to have these on your computer. Period. What could go wrong if your computer was infected? How much time would you lose? When it comes to malware, prevention is far better than dealing with the problem after the fact. Install trusted antivirus software, run periodic scans, and train employees on web surfing and e-mail habits so you can help to prevent this problem from happening.

As a follow up to our post from June 6, 2010 about providing census takers with tenant information, we received information from John Johnson of A.J. Johnson Consulting Services, Inc. John cites Federal law (13 USC 223) stating that owners/managers of multfamily housing properties must provide names of proprery residents when requested by a census taker. For additional information provided by John Johnson, click here.

We have heard that census takers are asking project managers for information on tenants who have not completed their census forms. Some management companies have expressed concern about the legality of providing this type of tenant information without the tenant's permission. Does anyone have any experience with this?