![]() Its actions came in response to an early version of the tax bill, which contained a subsection that would have jeopardized the PGA Tour’s tax-exempt status as a 501(c) (3) charitable organization. At about the same time, the PGA Tour was also throwing around its political mite, albeit regarding a different matter. Theirs was not the only golf-related lobbying going on. Doing away with it, they wrote, would hurt “small business owners of golf courses across the country” while dampening the myriad business dealings that take place “every day of the week across thousands of courses.” In late November, as the tax bill was taking shape, Karen and representatives from three other golf industry groups penned a letter to Congress, pleading with lawmakers to preserve the 50 percent business-entertainment deduction. Jay Karen, CEO of the National Golf Course Owners Association, was among those who saw it coming. To many in the golf world, the new rule is disappointing, but not surprising. “Consider that you just saw the cost of golf double.” “I doubt it will impact the high-end of the business world like guys playing at Augusta or Pine Valley, but it will definitely cause more scrutiny of corporate outings and probably force people who mix golf and business to better justify a day outside,” said David Rynecki, CEO of the independent research firm Blue Heron Research Partners and author of Deals on the Green: Lessons on Business and Golf from America’s Top Executives. ![]() Though it’s hard to put a number on the economic impact this will have the game, the change is far from welcome news for an industry up against its share of struggles, from course closures to flat-lining participation. ![]() (You will, however, still be able to deduct half the cost of dinner with that client under the new tax code, write-offs on business meals have not been touched.) It applies to a range of activities, including concerts, sporting events and, yes, rounds of golf.Īfter posting your score for 18 holes with a business acquaintance, you can no longer write off half the cost of the round. Here’s another: The president has now signed tax legislation that may make golfers think twice before they schedule their next round with a client.Įmbedded in the recently approved tax reform bill is a provision that eliminates a 50 percent deduction for business-related entertainment expenses. That’s one golf-related irony of his administration. Having railed against his predecessor for playing too much golf, President Trump has gone on to peg it at a greater clip than anyone who ever held the Oval Office. ![]()
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