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News
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 PPCO featured in magazine November 2006 Petrinovich Pugh & Company's Golf Practice is featured in the November issue of Inside Public Accounting Magazine . The article focuses on PP&Co Golf's momentum saying, "PP&Co's experience in the golf niche exemplifies the success that comes from continually deepening a firm's expertise in a chosen niche." For more information about PP&Co's Golf Practice visit www.ppandco.com or contact Ed Davis (408) 287-7911. FROM INSIDE PUBLIC ACCOUNTING MAGAZINE (excerpts) : The firm has expanded its services far beyond the traditional audit, accounting and tax; it now helps clients with club development, information technology, operational consulting, and benchmarking services. PP& Co's three partners who serve the golf and country club niche often get involved with a client before the ground is purchased for a new club and then work with the owners through construction, financing, startup and operations. "We provide tee-to-green services for our golf and country club clients," said (Ed) Davis . But most country club clients want PP&Co to protect their tax-exempt status. "If a club has a tax issue, it's going to be a $1 million issue, and that's what gets their attention." A private country club's revenues from non-member related business is what gets the attention of the IRS. Former IRS agent Mitchell Stump, author of several books on country club taxation, says that revenue a club receives from a guest or other non-member purchasing golf balls or other goods and services is "potentially taxable." According to Stump, properly managed member-owned clubs should be able to avoid taxation. Davis says that tax status is not the only challenge to providing services to a golf club. "Golf clubs are a different animal from a normal company. A club may have 400 members, each with a different agenda." A typical club, Davis says, often has a rotating board of nine members, "most of whom are successful businessmen who think they know how to make their club better. That's not always the case." Geographic barriers are tumbling as PP&Co's expertise and services expand. The firm has intensified marketing efforts in the past two years, including promotional mailings to country clubs in Nevada and Hawaii . It also exhibited at the last three annual conferences of the Club Managers of America Association, a trade group with more than 6,500 members. The firm hosts roundtable discussions on golf club issues for clients and prospects, and it issues "manager alerts" on new developments in t the industry. |
There is always something going on at PP&Co. Between our events, networking, social gatherings and day-to-day achievements, we’re always learning and doing what we can to arm ourselves with information that will benefit our clients and firm growth. |
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