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Tax law changes for sports tix donations
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mturn017 Offline
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Post: #21
RE: Tax law changes for sports tix donations
(01-28-2018 06:42 PM)mjs Wrote:  
(01-28-2018 02:37 PM)Tom in Lazybrook Wrote:  I actually think this is going to hurt the P5 a lot more than its going to hurt most Belt schools. Most of our school don't charge extra fees for seating anyway (or you really don't have to pay a premium for decent seats - just buy them for face value). So my guess is this...just buy the tickets separately and then donate to your athletic foundation.

The real issue are the schools where they expect you to donate 3 or 4 grand to purchase two seats. This would be a big problem at schools where the sell out games anyway.

And its not just the impact of the tax code change disallowing the write off of the tickets, but also the expanded standard deduction, which makes charitable contributions effectively without a deduction for most taxpayers.

Yes, the Belt teams will take a hit, but its not going to be anywhere near as bad as it will for some of the P5 teams.

That's where I am and probably most taxpayers. Was already in the back of my mind when I went to a silent auction for the baseball program the other night. Passed on a $250 dinner coupon (which was almost at face value already), which I probably would have bid on if I could have told myself "What the heck, it's tax deduction".

Only the amount you paid above the value would be considered a contribution anyway.
01-29-2018 08:47 AM
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