Effect of tax bill on Husker sports

[ColoradoHusk]

While this is considered donating to a nonprofit, I don't see it as being any different than buying tickets to all the other entertainment venues in town then expecting to deduct them from my taxes. Clearly the Republicans are trying to stick it to the wealthy. Haha.
I don't see it being a big deal because people with that kind of money don't need the deduction. 
What I do see is the University making the stadium more comfortable and concessions more accessible.
There also seems to be a grey area where they could possibly redesign the donation so it goes directly to academics and thus is still tax-deductible??

Are you serious with that statement?  The most wealthy people are the ones who utilize the tax deductions from charitable donations the most.  If donations to the athletic department are no longer tax deductible, their charitable donations by the wealthy could go elsewhere.

 

[Hayseed]

Are you serious with that statement?  The most wealthy people are the ones who utilize the tax deductions from charitable donations the most.  If donations to the athletic department are no longer tax deductible, their charitable donations by the wealthy could go elsewhere.

Yeah I’m serious. This is who they are and loss of a deduction isn’t gonna stop them from doing it.

 

[ColoradoHusk]

Yeah I’m serious. This is who they are and loss of a deduction isn’t gonna stop them from doing it.

I guess you are right, the tax deduction is a bonus for them.  But the most wealthy are the ones who use tax deductions the most. That’s where I misread your comment. 

 

[Hayseed]

I guess you are right, the tax deduction is a bonus for them.  But the most wealthy are the ones who use tax deductions the most. That’s where I misread your comment. 

My brother-in-law owns a small business and has paid the fee to get good baseball and basketball seats. I believe it’s  the upper middle class people who pay a premium to just get an ordinary seat who will question whether it’s worth it.

If the team is always good , they can justify it.... not if they never accomplish anything.

Still don’t see why the donation part wouldn’t be deductible though.... but don’t think a ticket should be... as well as a bunch of other business “entertainment” expenses.

 

[schriznoeder]

A spokesman for U.S. Rep. Kevin Brady, a Republican from Texas, told the Austin American-Statesman shortly before the passage of the final tax bill that the college sports deduction was “the epitome of a special interest loophole...For the sake of providing fairness to all taxpayers, this college sports quid pro quo needs to end.”

Ha! That's completely laughable. So I can deduct charitable contributions to my church of up to 50% of my adjusted gross income, but I can't do the same when it comes to my public university? Seems about right  :bang