It’s tax day, one of the most dreaded dates on the calendar. There’s nothing you can do about it this year, but it might be worth your time to determine if you can lower your next tax bill by depreciating course enhancements.
Several years ago, the NGCOA, with the assistance of KPMG, LLP, led a successful effort that provides golf course operators with the legal means to depreciate the costs of certain golf course land improvements, including “modern” green complexes, tees, bunkers and fairways. Some course operators have used the ruling to save hundreds of thousands of dollars in taxes. To learn more, visit http://www.ngcoa.org/pdf/depreciationinfo.pdf.