DMN - Ticket non-deduction story

[VideoEagle]

This was on the front page at the top. The loss of the ticket location deduction has some worried. But even the congressman representing College Station says that's a loophole to close so tuition, especially for grad students, can stay deductible. 

Here's the story, but it might be behind a paywall.

 

[FAU Connoisseur]

I am not sure this will have such a huge effect on ticket sales.  Maybe it will affect some corporate donations or large donations for sports palaces.  My primary reason for making my donations for my seats is to get the good seats not necessarily to affect my tax situation.  Rich people want to be seen in the best places; and a country club section of a premier sporting event is a nice place to brag about your returns in the market with your buddies.

[Cerebus]

6 hours ago, FAU Connoisseur said:

I am not sure this will have such a huge effect on ticket sales.  

If you were giving 100k for access to a suite you would care, a lot. One of the main reasons people give at that level is to get to so something that enjoy while also getting a huge tax deduction.

 

[FirefightnRick]

1 hour ago, Cerebus said:

If you were giving 100k for access to a suite you would care, a lot. One of the main reasons people give at that level is to get to so something that enjoy while also getting a huge tax deduction.

 

If they can afford $100k suite I'm certain they'll manage.

 

Rick

[FAU Connoisseur]

3 hours ago, FirefightnRick said:

If they can afford $100k suite I'm certain they'll manage.

 

Rick

My point exactly...they don't buy the luxury for the tax deduction, that's just a bonus.  And when you think about it with the craziness of the P5 and there palaces and crazy salaries maybe time to pull the reins back a little.  College sports has become so corrupt with cash no need to give a deduction for people supposedly trying to help a kid go to college.  Time for ESPN to pay up.  For the Boca Bowl they pay FAU $25k to rent the stadium, we get a commercial but they are the only ones making any money off it.  The teams are lucky to break even (maybe with the exception of this year).

[Cerebus]

10 hours ago, FirefightnRick said:

If they can afford $100k suite I'm certain they'll manage.

 

Rick

We'll find out.

[VideoEagle]

I suspect there will be a drop in the size of donations but only a very small drop in the total number of donations made. Corporations will still want to entertain clients and alumni with deep pockets will still like to have perks. If someone was looking for a donation purely to not give the money to the IRS, there were multiple places before where they could get a 100% deduction. And with lower corporate and personal rates, the actual amount of money saved was going to drop even with the 80% deduction.