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Country Clubs

We can support private clubs with audited financial statements, income tax preparation, sales and use taxes, protection of tax-exempt status, internal control enhancement, plus much more.  Clubs operate in an unique business environment and need specific guidance with changing rules and regulations, tax laws, and membership needs.  Stroemer & Company understands these challenges and provides tailored services focused on your individual club.

While we concentrate on the accounting, management can focus on their members, customers, employees, and running a successful club.  Stroemer & Company is dedicated to providing clients with the vision and financial strength necessary for continued growth in trying economic conditions.

Professional Services Provided:

  • Ensure compliance with ever-changing governmental tax and non-taxable requirements and issues
  • Provide well-planned, timely audit or review
  • Classify and separate member vs. non-member income
  • Advise on new 1099-B filing requirements
  • Clarify privacy issues
  • Comply with sales and use tax regulations
  • Enhance internal controls
  • Provide turnover audits
  • Define Rev. Proc. 71-17 record-keeping requirements for taxable and non-taxable clubs
  • Prevent IRS "red flags"
  • Improve strategies to bring in new members and revenue streams
  • Keep you up-to-date on current regulations and new requirements
  • Determine compensation packages for management
  • Identify industry trends
  • Assist with club management succession and transitioning
  • Provide training in many financial areas unique to golf clubs
  • Analyze public-to-private and private-to-public conversions

The basic day to day operations and issues running a master association/bundled community versus a private club are essentially similar except for the following significant issues:

Master Associations/Bundled Communities

  • Bundled community - No sales tax of membership
  • Revenue subsidized by public (golf, proshop, restaurant, etc.)
  • Real Estate Taxes – Inconsistent treatment (need to discuss), need to contest valuation issues
  • Collect Sales Tax: non-resident assessments/dues, golf cart, trail, and green fees, golf membership dues (if not bundled), golf pro shop sales
  • File under section 277 of IRC: Member vs. Non-member, and use revenue ruling 70-604
  • File 1120 – regular corporation
  • No restrictions
  • Not private (deal with the public) – non-resident equity memberships
  • More crowding (busier restaurants and golf course)

Private Club

  • Pay sales tax on dues (6%), if equity membership or various classes of membership        
  • Revenue is not subsidized by public- will have to increase assessments
  • Real Estate Taxes - Inconsistent treatment (need to discuss), need to contest valuation issues
  • Usually file 990, also may file a 990T
  • Restrictions of revenue sources
  • Private (control environment/quality of members)
  • Less crowding

If you need assistance, please contact us for a free consultation at 1-855-STROEMER or JamieR@StroemerCPA.com, se habla espanol.

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