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Topic: Iptay tax deduction
Replies: 17   Last Post: Dec 15, 2017 1:13 AM by: baker5801®
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Replies: 17  

Iptay tax deduction


Posted: Dec 14, 2017 3:32 PM
 

If you didn’t know, the current tax bill proposed in Congress gets rid of the deduction for contributions to IPTAY, etc. Might want to call your congressman and tell them thanks.


Maybe that will help me get better seats ...

[3]
Posted: Dec 14, 2017 3:35 PM
 

probably a plus for us upper deckers.

2019 white level member

Re: Maybe that will help me get better seats ...


Posted: Dec 14, 2017 3:42 PM
 

Yup, in the same boat. I will pay more for lower deck regardless of tax deductibility. This should make buying extra tickets and selling them on Stubhub less appealing.


Re: Maybe that will help me get better seats ...


Posted: Dec 14, 2017 3:50 PM
 

Actually it would make it more appealing. Sorry.

2019 orange level memberbadge-donor-05yr.jpg

Re: Maybe that will help me get better seats ...


Posted: Dec 14, 2017 4:19 PM
 

Yeah, because people are still gonna donate a ton of money if they can't write it off lol.

2019 purple level memberbadge-donor-05yr.jpg

Re: Maybe that will help me get better seats ...


Posted: Dec 15, 2017 1:13 AM
 

They will resell to recoup their donation. I guess that’s why you don’t give a lot. You don’t know how to think to make a lot of money.

2019 orange level memberbadge-donor-05yr.jpg

Re: Maybe that will help me get better seats ...


Posted: Dec 14, 2017 4:31 PM
 

Say you are out-of-pocket $20 more per ticket, how is that more attractive to buy extra tickets & sell for a profit? You must think fewer people will give and hense the secondary market will be larger?


Re: Maybe that will help me get better seats ...


Posted: Dec 14, 2017 10:21 PM
 

I’m an IPTAY donor and an upper decker, but I don’t depend on a tax deduction to determine what I give to Clemson. Besides, giving $100 for a $15 deduction shouldn’t matter to anyone anyway!

2019 orange level memberbadge-donor-10yr.jpg

unless you want simple tax returns

[1]
Posted: Dec 14, 2017 3:37 PM
 

Obviously its a great benefit to get a tax break for donation to Iptay and encourages donors but I would in favor of simpler taxes too without Government manipulation. I'd like it both ways but sometimes its just collateral damage.

2019 student level member

Re: unless you want simple tax returns


Posted: Dec 14, 2017 3:42 PM
 

My concern is overall impact to scholarship availability across all sports if giving is reduced. Ultimately the loser could be the student athlete.


Re: unless you want simple tax returns


Posted: Dec 14, 2017 3:45 PM
 

Giving won't be reduced- people may give more to get better seats. People who are maintaining do not need to give above the minimum for the seat. I currently give 5x hoping to get better seats and will eventually reduce if I cannot move down. I would double my donation for lower deck and it would be much higher donation than the minimum that IPTAY is probably receiving.


Re: unless you want simple tax returns

[1]
Posted: Dec 14, 2017 3:49 PM
 

I think if you see adverse effects they will tweak it after. but yea agree

2019 student level member

Meh... won't affect my IPTAY donations at all...

[4]
Posted: Dec 14, 2017 4:01 PM
 

As I mentioned in the previous thread we had on this subject:

In my case it doesn't matter if IPTAY donations are non-deductible so long as the current Standard Deduction is doubled (i.e. $24k for joint filers) as proposed in both the House and Senate bills.

Quite frankly the Federal deduction and credits game has been nothing but a tool for politicians to reward/punish constituencies they like/don't like for years and is one of the reasons we need to revamp the tax code. In fact I would just prefer an easy flat tax - just pay what I owe based on what I earn and it shouldn't matter whether I buy an electric car or install solar panels on my house.

2019 orange level memberbadge-donor-05yr.jpg

or maybe quid pro quo donations should be taxed?***


Posted: Dec 14, 2017 4:53 PM
 



2019 orange level member

I may be in the minority here, but I don't donate to IPTAY


Posted: Dec 14, 2017 4:56 PM
 

for the tax deduction. I donate in order to buy tickets to see my Tigers play...

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^^ Gets it ^^***


Posted: Dec 14, 2017 10:09 PM
 



2019 orange level memberbadge-donor-05yr.jpg

Better to live one year as a Tiger, than a thousand as a cOOt!


Re: Iptay tax deduction


Posted: Dec 14, 2017 5:55 PM
 

Why should there be a tax credit for an IPTAY contribution? I don't get one
for my contribution to the ESSO Club.

military_donation.jpg

Re: Iptay tax deduction


Posted: Dec 14, 2017 11:15 PM
 

Just another reason to hate an attorney...such a selfless crowd.


Replies: 17  
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