More new legislation that will hurt funding of Athletics

[tornado]

Known as Obama's sports tax....

The President is gonna pusgh to try to eliminate any tax deductibility of any gift or money given to the Athletic Departments of any school IF - in any way preferential seating or tickets are involved...

Holy cow - -that's a HUGE amt of $$ for schools like Bradley - that's all the maintenance - even the MILLIONS given to the Braves Scholarship Society!!

If all that giving is no longer tax deductible, it won't ALL go away instantly but a lot of it certainly would!!

"Many big-time college basketball programs rely on the money from donations to fund a large portion of their program and recruit the best players. .... schools reserve the best seats for donors who have contributed a lot of money to the school.

The White House says no part of your donation should be deductible, period."

http://www.forbes.com/sites/mikeozanian/2015/03/04/the-college-basketball-teams-obamas-sports-tax-would-hit-the-hardest/

[molar50]

I don't think this will happen. Many private boxes at the United Center are tax deductible as write-offs for business entertainment and marketing. The lobby that protects these interests will likely protect the interests for alumni donations at major college sports. Follow the money.

[Da Coach]

I don't think this will happen. Many private boxes at the United Center are tax deductible as write-offs for business entertainment and marketing. The lobby that protects these interests will likely protect the interests for alumni donations at major college sports. Follow the money.

Ordinarily you would be right, and I still think it won't happen. But this next 1 1/2 years is a unique exception to most of the rules. This lame duck president and his pen and cell phone seem to be agenda driven above and beyond the "money" or the "will of the people".

[Chico]

Ordinarily you would be right, and I still think it won't happen. But this next 1 1/2 years is a unique exception to most of the rules. This lame duck president and his pen and cell phone seem to be agenda driven above and beyond the "money" or the "will of the people".

+1

[ollienanyes]

From your own link:

"Normally, U.S. tax law requires that Americans who donate money and get something of value in exchange must reduce the value of any deduction claimed later by the fair-market value of the item received in exchange.

But college fans can deduct fully 80 percent of their donations, even if the market value of their seating priority exceeds 20 percent of their gift's value."

I think that it is fair to treat these "donations" in the same way other donations are treated.

Many of us give to colleges and universities without expecting "perks" in return; whatever happened to doing good for the sake of doing good?

[tornado]

.. whatever happened to doing good for the sake of doing good?

still a lot of that going on....Americans are the most generous folks in the world...
time and time again reports show that US citizens give more and give a larger proportion of their earnings and ownings to charity and to others than anyone else anywhere...

but Americans also apply a little smarts and if they can gain a tax advantage then it allows for even MORE giving - so you can't blame those who use the deductions if they are available.
It's still money given and a credit to their generosity.

[ollienanyes]

still a lot of that going on....Americans are the most
but Americans also apply a little smarts and if they can gain a tax advantage then it allows for even MORE giving - so you can't blame those who use the deductions if they are available.
It's still money given and a credit to their generosity.

Or perhaps it is taxpayer subsidized luxury (getting tax deductions for getting what you are paying for?)