LPCA Newsletter March 09 by tfs77260

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									               Lakeside Park
                         S o ca l P r o p e r t y M a n a g e m e n t


                           HOA 101
                          Tax Season Tips                                 March, 2009

                                                                          Volume 2, Issue 3
                      Tips for Tax Season
                          _______________
                                                                          Inside this issue:
As most of you know, owning your home offers some tax
advantages. Whether you own a mansion or a mobile home, many              HOA 101              1
home-related expenses are tax deductible.
                                                                          Landscaping          2
Mortgage interest and property tax are well-known deductions. To
take advantage of them, you have to file the 1040 long form and           Happy St.            2
                                                                          Patrick's Day!
Schedule A. For some homeowners, however, it might be better to
file the EZ form because standard deductions would be greater than        Safety Alert         2
the allowable expenses. The interest on a home equity loan is fully       Friendly Reminders   2
tax deductible unless the balance on the original mortgage plus the
equity loan is greater than the property's value. After that, it's on a   Monthly Quote        2
sliding scale.
                                                                          Billing Info         2
If you bought your home after Jan. 1, 2007, mortgage insurance is
fully tax deductible if your income is $100,000 or less. Mortgage
interest and property taxes on a vacation home are deductible. But it
doesn't even have to be a house. It could be an RV as long as it has
cooking, sleeping, and bathroom facilities. If you paid points to get FEEDBACK?
a better interest rate on any of your home loans, you can deduct the
points in the year you paid them. If you refinance the home, points
are deducted over the life of the mortgage. If you changed jobs and    If you have any
had to move more than 50 miles and had to sell a home because of questions, concerns
the move, moving expenses are deductible unless reimbursed by an or any other issue
employer.                                                             you’d like to see
Do you have a home office used on a regular basis for business?       addressed in the
Keep records on the percentage of the house that is used for monthly newslet-
business and make a proper allocation of expenses. For example, if ter, please feel free
20 percent of your house is used for business, you will be able to to submit them in
deduct 20 percent of utilities and basic home repairs.                writing to Socal
                                                                           Property
Keep records that show what you do in your office to constitute a
business activity.                                                      Management.
                                                                                     Friendly Reminders ...
   Happy St. Patrick’s Day!
                                                                                All residents of Lakeside Park deserve a won-
 The Board of Directors wishes all resi-                                        derful quality of life, which means working
  dents of Lakeside Park a Happy and                                            together to ensure that. Here are a few key
                                                                                reminders of rules that are in place to provide
         Safe St. Patrick’s Day!                                                the quality each and everyone of you deserve.

 Next Board Meeting: March 10, 2009 at 7:00 PM at the                           1.    Pets—Please always make sure your
                  Sun and Sail Club                                                   pet is leashed when outside your
                                                                                      patio, and always be sure to pick up
LANDSCAPE RENOVATIONS ...                                                             after them.

As you may have noticed, considerable work has begun at both                    2.    Parking—Please only park your vehi-
                                                                                      cles in your assigned carports. Vehi-
entrances of Lakeside Park. This work is the first stage of major                     cle storage and maintenance is not
refurbishment scheduled to take place throughout the year. The                        allowed.
Board’s design was to begin at the entrances, the most visible and              3.    Aesthetics—Please remember to take
                          highest trafficked areas of the commu-                      in your trash cans and keep your
                                                                                      surroundings free and clear of clut-
                          nity in order for the impact to have the                    ter, stored items and debris.
                          greatest effect. Over the next few                    Most Importantly - Please always be respect-
                          months, the renovations will move to                  ful and conscientious of your neighbors.
                                                                                Each member owns 1/200th of the common
                          the interior of the community to up-                  areas of Lakeside Park, to disregard the rules
                          date, replace and fill-in planter areas and           of Lakeside Park and enjoyment of all resi-
                                                                                dents affects all 200 of you.
                          other common areas that are deter-
                          mined to need improvement.

                               Safety Alert                                          Quote of the Month
                                                                                 There’s a myth that time is money.
Management recently received a report from an owner that someone                 In fat, time is more precious than
unsuccessfully tried break in to their home. While this                         money. It’s a nonrenewable resource.
may be an isolated incident, it harkens all residents to be                      Once you’ve spent it, and if you’ve
aware and vigilant if anyone suspicious is noticed in the                         spent it badly, it’s gone forever.
community. If you ever witness such activity, please
                                                                                                                  - Neil Fiore
CALL 911 immediately.

                                       Billing and Contact Information:
  Payments made be submitted to the following:          SOCAL PROPERTY
                                                        MANAGEMENT
         Lakeside Park Community Association
         c/o Socal Property Management
                                                        Phone: (949) 872-0950
         P.O. Box 63308
                                                        Fax: (877) 582-4140
         Phoenix, AZ 85082
                                                        Mailing Address:
                                                        P.O. Box 10549
                      As always, please make sure       Costa Mesa, CA 92627
                      your account number is
                                                        Email: jmahler@socalpropertymanagement.net
                      clearly printed on your check!


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