FAQs About the Employee Retention Credit and Refundable Tax Credits

The Paycheck Protection Program helped more than four million businesses continue to pay their employees during the coronavirus pandemic.

2020-07-28T12:11:48-04:00July 29, 2020|Categories: PBMares COVID-19 Insights, Tax: Business|Tags: , , , |

Coronavirus FAQs for Tax-exempt Clubs

The good news at this point in the coronavirus news cycle is that we’re becoming accustomed to rapid change and a new normal of business operations, or lack thereof. As the saying goes, the devil is in the details.

2020-06-01T14:45:34-04:00June 1, 2020|Categories: Hospitality, PBMares COVID-19 Insights, Private Clubs|Tags: , |

COVID-19 Offers Opportunity to Give Back to Club Employees

Members join clubs for a variety of reasons, including golf, entertainment and networking, and in doing so, they become part of a close-knit community. 

2020-05-06T15:37:23-04:00May 6, 2020|Categories: Hospitality, PBMares COVID-19 Insights, Private Clubs|Tags: |

What Tax Exempt Clubs Should Know About the CARES Act

There is so much information out there, and it’s changing regularly, on the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). 

The Impact of Nonmember Revenue on a Club’s Bottom Line

Nonmember revenue can help advance, and impede, club growth. As the club industry continues to evolve between private member-owned clubs and public ones, the majority remain member-owned, focusing on the member’s experience rather than on public consumption. However, board of directors or governors of clubs are trying to fund operations without raising members’ dues while trying increase club use by nonmembers through offering nontraditional activities.

2019-07-01T13:50:09-04:00November 1, 2018|Categories: Hospitality, Private Clubs|Tags: , , |

529 Savings Plan Benefits Change for the Better

With the passage of the Tax Cuts and Jobs Act, the benefits of 529 savings plans have changed for the better! The IRS code 529 was modified to specifically include “enrollment or attendance at an elementary or secondary public, private, or religious school” so now parents who have 529 plans, and whose kids are still young, don’t have to pay for the education expenses directly.

2018-09-25T15:30:11-04:00September 20, 2018|Categories: Tax: Individual|Tags: , |