Donna Genie of Campground Accounting works only with family-owned campgrounds, not partnerships or VC-backed ones. Family ownership gives her the unified control needed to project taxable income accurately and cut taxes. With multiple owners and outside income, coordinated tax planning falls apart.
Traditionally, campgrounds were one of two types. They were owned by a family or they were run by a large corporation. We have those same situations today. But there is a new entry to add into the marketplace and that is venture capital backed campground ownership. We are seeing a trend of several people getting together as partners and also employing venture capital funds to help them purchase multiple campgrounds in a fast paced environment. They're doing this mostly for the investment, not that they really want to run the campground. Now I have nothing against this type of model, but it doesn't suit our practice well. It really doesn't give us the opportunity to provide the full value that we want to to our campground owners. That's why we're primarily focused on family owned campgrounds and not the larger corporate or partnership and VC backed campground ownerships. The services at campground accounting are all inclusive where we wrap our arms around our clients and make sure that we help them navigate all the waters of taxes. Accounting, bookkeeping, payroll, sales tax, anything they need. We want to be a greater source of knowledge for them to point them in the right direction or help advise them. As we deal with these waters every day. Our largest value that we can provide is to help them reduce the amount of taxes they pay. Overall, it is one of the largest expenses of any business to pay their taxes. We can do this because we have full insight onto all of their income streams. There aren't businesses that are outside of the reach of what we know about. We have to understand their full business picture and income tax return to be able to project what strategies to utilize for them. We can project with accuracy each item on their tax return and then implement strategies to minimize those taxes. This results in us saving our clients thousands, even tens of thousands of dollars in taxes. And that's where we really derive our value and and want to be a key component in helping family run campgrounds be very successful. In the case of the new VC backed campgrounds, there could be 10 owners who own other outside businesses or real estate investments and we don't have any knowledge of what those other sources of their income are. We don't have control over each owner's projected income, so we can't project the taxes, let alone help them save more money. So a strategy that could drastically help some of those owners may be terrible for the other owners and could be harmful. So we don't work with VC backed and partnership campgrounds. It's not because we don't like them or don't get along with the owners. It just doesn't fit our ownership structure that we require to offer the highest level of value that we can. Please follow us on Facebook and Instagram. Please make sure to check out our blog and our website linked below. Subscribe to our YouTube channel and hit the bell to be notified when we post. You can email me@donnacampgroundaccounting.com.
