The Tax Cuts and Jobs Act, Congress’ tax reform bill, has passed in the House. The Senate is now tackling its version of the bill. In the end, these two versions will need to be combined for a single bill to emerge with the final
After three days of arm-twisting, the Senate passed a budget resolution with language allowing tax reform to be passed with only a simple majority. For the first time in 30 years, tax reform could be reality, helping club staff and members alike. Tax reform may also
A bill has been introduced in the Illinois State Senate that would tax club dues and expenses that members incur at the club. The legislation would impose a five percent tax on club dues. Fortunately for the club industry, it is extremely unlikely that this bill will
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
It’s often been said that you can’t fight your taxes; you can only fight your assessment. Therefore, it takes an understanding of what goes into calculating real estate taxes in order to understand if your club’s assessment is fair or should be contested. What
With the holiday season underway, many clubs may be planning on giving gifts to their employees. Clubs should keep in mind the 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
In an effort to reduce a burgeoning budget deficit in the State of California, legislators have proposed two massive new tax packages that will affect private golf and country clubs. The proposals will apply the state’s sales tax to private club activities. As such, initiation
This is the fourth article in a special six-part series commemorating the 50th anniversary of the National Club Association. This article from the Dec/Jan 1993 issue of Club Director offers a comprehensive history on one of the most pervasive impositions on private clubs—the issue of dues deductibility and