rustychev Posted January 21, 2019 Share Posted January 21, 2019 How is everyone's club handling income from entry fees and taxes. After reading the latest front sight my MD has gotten a little worried. Up to this point we have done a all cash operation and he uses a separate checking account for the money but it is tied to his SSN and a credit card. We have no tax lic and are not paying tax. This is what had kept us from taking online payment. Is everyone running a LLC? I dont what to have a business in my name for liability reasons. A 501c3 looks like a lot of work. We only net a few hundred a year after rang fees and targets and steel. So paying tax would not be the end of the world. Link to comment Share on other sites More sharing options...
Sarge Posted January 21, 2019 Share Posted January 21, 2019 19 minutes ago, rustychev said: How is everyone's club handling income from entry fees and taxes. After reading the latest front sight my MD has gotten a little worried. Up to this point we have done a all cash operation and he uses a separate checking account for the money but it is tied to his SSN and a credit card. We have no tax lic and are not paying tax. This is what had kept us from taking online payment. Is everyone running a LLC? I dont what to have a business in my name for liability reasons. A 501c3 looks like a lot of work. We only net a few hundred a year after rang fees and targets and steel. So paying tax would not be the end of the world. I would have just kept it on the down low personally. All the clubs around me are actually gun clubs that let us shoot USPSA monthly. Money gets turned in monthly and the accountant does his thing every year. Link to comment Share on other sites More sharing options...
rustychev Posted January 21, 2019 Author Share Posted January 21, 2019 The range we shoot matches at has not affiliation with us past the 10.00 per head we pay them for the use of the range. That is why we have not gone down that path. Link to comment Share on other sites More sharing options...
Nathanb Posted January 22, 2019 Share Posted January 22, 2019 We are a non profit. I collect match fees. Pay out the uspsa fee and then cover expenses. After that I turn money into the club until end of year. For uspsa we operate well into the black so if I want something I just ask. The major purchase this year was steel to make 100 target stands. Last year was wall stands. Link to comment Share on other sites More sharing options...
rustychev Posted January 22, 2019 Author Share Posted January 22, 2019 59 minutes ago, Nathanb said: We are a non profit. I collect match fees. Pay out the uspsa fee and then cover expenses. After that I turn money into the club until end of year. For uspsa we operate well into the black so if I want something I just ask. The major purchase this year was steel to make 100 target stands. Last year was wall stands. When you say we are you talking the USPSA club or the host range as well? Link to comment Share on other sites More sharing options...
Nathanb Posted January 22, 2019 Share Posted January 22, 2019 My gun club sorry. I roll up to the club level Link to comment Share on other sites More sharing options...
rustychev Posted January 22, 2019 Author Share Posted January 22, 2019 We are on rental terms with our range. They dont love us but also dont hate us and wont give us the boot because our per head fee brings in about 25% of the cash flow they get for the year but we are on our own past that relationship. We are now looking for form a non profit of our own. Link to comment Share on other sites More sharing options...
FullMetalJacket Posted January 23, 2019 Share Posted January 23, 2019 We do 4 matches a year and 1099... This is added to our income which is member dues, range rentals, and match fees... All our expenses are deducted and we pay our taxes is what it is Link to comment Share on other sites More sharing options...
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