Clubs strive to be the best they can in providing the highest quality of services to their members. In this pursuit of perfection, club leadership is generally interested in what other well-run clubs do. In certain cases, it may be just as instructive to know
Club Trends Fall 2014
Q: I always seem to be caught between budgeting Capital Expenditure (CAPEX) funds for a possible emergency and losing any excess funds at the end of the year. How can I spend my CAPEX dollars more wisely? A: Every year, the same thing happens. Club executives
Final Tangible Property Regulations (TARS) are here after a near decade-long production. Commonly called “repair regulations,” these rules try to clarify a very complicated portion of tax law. They affect all taxpayers that use tangible property in their businesses. These comprehensive regulations include more than
Q. Regulations governing annual contributions to pension plans combined with low interest rates have caused clubs with defined benefit plans to face increasing annual payments to maintain or diminish their financial liabilities. How are clubs dealing with this? A. Over the last decade, clubs that offer
Q: How should a club structure financing of capital expenditures so that the long-term financial health is not threatened? A: Clubs strive to have their operations at least break even each year, before depreciation, thus eliminating the necessity of end of year assessments to cover operating deficits.
As the holiday season approaches, NCA reminds club members and officials to be aware of Internal Revenue Service (IRS) rules regarding gifts to employees. A club’s method of gift-giving usually determines whether or not holiday gifts will be viewed as taxable wages. The IRS considers
During my recent travels to different private clubs, I found there was one question many clubs had in common: What is the best form of payment at a club: credit card, cash or club charge? Let’s further discuss these three very different forms of payment
It is that time of year again when clubs, like many businesses, move to holiday schedules. As always, it is important to determine the proper pay for employees during holiday periods. Keeping up with the developing wage and hour laws is difficult. With both state
Commercial property and casualty insurance premiums are usually significant expense items in a club’s budget. As such, it is beneficial for clubs to diligently evaluate the options available to them in the marketplace and have a process in place that will yield the best outcome. Since 2008, more clubs are taking