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Replies: 17
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Letterman [282]
TigerPulse: 97%
Posts: 206
Joined: 11/21/04
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Iptay tax deduction
Dec 14, 2017, 3:32 PM
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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.
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All-In [26469]
TigerPulse: 100%
Posts: 20617
Joined: 9/2/02
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Maybe that will help me get better seats ...
Dec 14, 2017, 3:35 PM
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probably a plus for us upper deckers.
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Letterman [261]
TigerPulse: 91%
Posts: 359
Joined: 1/2/16
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Re: Maybe that will help me get better seats ...
Dec 14, 2017, 3:42 PM
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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.
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110%er [8047]
TigerPulse: 100%
Posts: 6805
Joined: 10/16/09
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Re: Maybe that will help me get better seats ...
Dec 14, 2017, 3:50 PM
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Actually it would make it more appealing. Sorry.
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110%er [6692]
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Posts: 11164
Joined: 10/14/07
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Re: Maybe that will help me get better seats ...
Dec 14, 2017, 4:19 PM
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Yeah, because people are still gonna donate a ton of money if they can't write it off lol.
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110%er [8047]
TigerPulse: 100%
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Joined: 10/16/09
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Re: Maybe that will help me get better seats ...
Dec 15, 2017, 1:13 AM
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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.
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Letterman [261]
TigerPulse: 91%
Posts: 359
Joined: 1/2/16
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Re: Maybe that will help me get better seats ...
Dec 14, 2017, 4:31 PM
[ in reply to Re: Maybe that will help me get better seats ... ] |
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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?
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CU Guru [1398]
TigerPulse: 100%
Posts: 425
Joined: 11/21/03
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Re: Maybe that will help me get better seats ...
Dec 14, 2017, 10:21 PM
[ in reply to Maybe that will help me get better seats ... ] |
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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!
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All-Pro [661]
TigerPulse: 86%
Posts: 1157
Joined: 10/3/12
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unless you want simple tax returns
Dec 14, 2017, 3:37 PM
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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.
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CU Guru [1339]
TigerPulse: 100%
Posts: 1394
Joined: 5/28/06
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Re: unless you want simple tax returns
Dec 14, 2017, 3:42 PM
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My concern is overall impact to scholarship availability across all sports if giving is reduced. Ultimately the loser could be the student athlete.
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Letterman [261]
TigerPulse: 91%
Posts: 359
Joined: 1/2/16
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Re: unless you want simple tax returns
Dec 14, 2017, 3:45 PM
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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.
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All-Pro [661]
TigerPulse: 86%
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Joined: 10/3/12
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Re: unless you want simple tax returns
Dec 14, 2017, 3:49 PM
[ in reply to Re: unless you want simple tax returns ] |
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I think if you see adverse effects they will tweak it after. but yea agree
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All-TigerNet [12233]
TigerPulse: 100%
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Joined: 9/12/04
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Meh... won't affect my IPTAY donations at all...
Dec 14, 2017, 4:01 PM
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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.
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CU Guru [1322]
TigerPulse: 99%
Posts: 2115
Joined: 12/25/10
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or maybe quid pro quo donations should be taxed?***
Dec 14, 2017, 4:53 PM
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Orange Blooded [3049]
TigerPulse: 100%
Posts: 2786
Joined: 9/11/02
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I may be in the minority here, but I don't donate to IPTAY
Dec 14, 2017, 4:56 PM
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for the tax deduction. I donate in order to buy tickets to see my Tigers play...
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110%er [5213]
TigerPulse: 100%
Posts: 4629
Joined: 10/28/02
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^^ Gets it ^^***
Dec 14, 2017, 10:09 PM
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Orange Blooded [4791]
TigerPulse: 92%
Posts: 6026
Joined: 12/20/04
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Re: Iptay tax deduction
Dec 14, 2017, 5:55 PM
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Why should there be a tax credit for an IPTAY contribution? I don't get one
for my contribution to the ESSO Club.
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Orange Blooded [2182]
TigerPulse: 81%
Posts: 2478
Joined: 10/10/13
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Re: Iptay tax deduction
Dec 14, 2017, 11:15 PM
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Just another reason to hate an attorney...such a selfless crowd.
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