According to Judy Galloway of The Tax Ladies firm in Shallotte, fees for such clubs are not tax-deductible unless the taxpayer is renting out his or her property in that neighborhood/marina.
The federal tax code states:
Effective since calendar year 1994, § 274(a)(3) provides that no deduction is permitted for club dues. This includes all types of clubs, including social, athletic, sporting, luncheon clubs, airline and hotel clubs and “business” clubs for all amounts paid or incurred after 1993.
Date posted: January 13, 2012
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