Effect of tax bill on Husker sports

[BigRedBuster]

This could affect everything from coaches salaries to donations tied to tickets. 

 

 

[commando]

ticket prices will go up, up, and away

[knapplc]

"Elections have consequences."

- Barack Obama

[BIGREDIOWAN]

I can see this headed down the political path, let's make sure we don't cross the line and turn this into a "well you voted for him!" type of thread. We've got plenty of those threads in the politics/religion forum. Keep it about how this will affect the Huskers.

[BigRedBuster]

An important thing to keep in mind is that this affects all programs across the board.  It's not like something the state of Nebraska is doing that negatively affects the Huskers while not affecting Iowa, Alabama or USC.

[teachercd]

Uggg...6 years ago they started taxing my coaching pay...now they are going to tax it more?  

 

Me and Frost are in the same boat.

[KingBlank]

7 minutes ago, BigRedBuster said:

An important thing to keep in mind is that this affects all programs across the board.  It's not like something the state of Nebraska is doing that negatively affects the Huskers while not affecting Iowa, Alabama or USC.

Just because it affects everyone? That's a terrible argument. 

[billdozer15]

Sounds like this is more about being able to deduct donations made to the athletic department from your individual taxes. The vast majority of people who are donating to athletic departments do so because they love the school not because they are getting a tax deduction. I don't see this having much of an impact if any at all. 

[billdozer15]

1 minute ago, KingBlank said:

Just because it affects everyone? That's a terrible argument. 

I don't think he is arguing for or against. Just that it will impact every school the same. Therefore it shouldn't hurt us anymore than anyone else (if it does at all). The playing field wont change because of it.

[Mavric]

13 minutes ago, billdozer15 said:

Sounds like this is more about being able to deduct donations made to the athletic department from your individual taxes. The vast majority of people who are donating to athletic departments do so because they love the school not because they are getting a tax deduction. I don't see this having much of an impact if any at all. 

 

There are two big things it affects:

 

 - A 20% excise tax on salaries of over $1M - so the athletic department would owe some taxes on this

 - It would remove the tax deductible part of seat donations, which is currently 80% of the donation (not the price of the ticket).

 

The first part won't really make a huge difference, imo.  It may slow salaries down a touch but I doubt it really has any noticeable effect on Power 5 schools.

 

The second part might be a little interesting.  I go for some better seats than I might otherwise because I get a break on the donation part.  It's not a huge number but it's enough to think about it a little more.  I don't think it will have a large effect because the ones paying a lot of donation probably will keep it up and the ones paying a small donation won't see a lot of difference either way.  But the ones in the middle might cut back a bit.  In my dream world they would cut back the donations a bit to help out but the #FrostEffect might override that now.

[ColoradoHusk]

1 minute ago, Mavric said:

 

There are two big things it affects:

 

 - A 20% excise tax on salaries of over $1M - so the athletic department would owe some taxes on this

 - It would remove the tax deductible part of seat donations, which is currently 80% of the donation (not the price of the ticket).

 

The first part won't really make a huge difference, imo.  It may slow salaries down a touch but not really have any noticeable effect on Power 5 schools.

 

The second part might be a little interesting.  I go for some better seats than I might otherwise because I get a break on the donation part.  It's not a huge number but it's enough to think about it a little more.  I don't think it will have a large effect because the ones paying a lot of donation probably will keep it up and the ones paying a small donation won't see a lot of difference either way.  But the ones in the middle might cut back a bit.  In my dream world they would cut back the donations a bit to help out but the #FrostEffect might override that now.

Nice humblebrag, playa!!!

[BigRedBuster]

1 hour ago, KingBlank said:

Just because it affects everyone? That's a terrible argument. 

Thanks for your opinion.

 

1 hour ago, billdozer15 said:

I don't think he is arguing for or against. Just that it will impact every school the same. Therefore it shouldn't hurt us anymore than anyone else (if it does at all). The playing field wont change because of it.

Yes, that's pretty much what I'm saying.  

 

I'm not arguing for or against this part of the bill.  I'm still trying to wrap my head around exactly what it will all mean for Husker athletics and me as a fan.  I was pointing out that it should affect other schools the same as Nebraska.  So....competitively speaking, this might not have that much of an effect.

[BigRedBuster]

1 hour ago, billdozer15 said:

Sounds like this is more about being able to deduct donations made to the athletic department from your individual taxes. The vast majority of people who are donating to athletic departments do so because they love the school not because they are getting a tax deduction. I don't see this having much of an impact if any at all. 

 

I wonder how this will affect the larger corporations that buy up many tickets.  I believe this is a major part of what has sustained our sell out streak.

I don't know if the AD requires them to give donations for those tickets or not.  If they do, and one benefit to that company is the deduction, then this might cause some to rethink that practice......which might affect our sell out streak in the future at some point.

 

How will this affect the AD's ability to go get large donations for facilities...etc. from major donors?

Edited December 15, 2017 by BigRedBuster

[84HuskerLaw]

6 hours ago, BigRedBuster said:

 

I wonder how this will affect the larger corporations that buy up many tickets.  I believe this is a major part of what has sustained our sell out streak.

I don't know if the AD requires them to give donations for those tickets or not.  If they do, and one benefit to that company is the deduction, then this might cause some to rethink that practice......which might affect our sell out streak in the future at some point.

 

How will this affect the AD's ability to go get large donations for facilities...etc. from major donors?

I have read nothing that would suggest the new tax cut proposals would impact the NU athetic department in any way.   I don't think there is any impact on the charitable deductions for those who itemize, unless you are suggesting that because you don't deduct your state income taxes you will lose your charitable.   Not so.

The surtax on incomes of a million, does not increase any million plus a year tax bill except to the extent that you lose your tax rate break on the first 100K of income.  This is a small relative to their income 'tax hit' and won't impact NU budgets.  Coaches have to pay their own taxes, not the University.  The payroll tax is unaffected.

 

The tax proposal is nothing but a healthy tax reduction for all taxpayers (with the exception of rare odd cases where incomes may have sudden shifts or other circumstances change and impact timing, etc.).   The most likely impact on Husker football and even other sports will be that most fans will have more money to spend thanks to reduced tax burden and may be able to afford to actually buy tickets or travel to an away game or something and of course the economy is going to get a tremendous boost and growth and incomes and tax revenue to all governments will help everybody.     

[ScawFraw]

The good news is it's not just Nebraska this is affecting..