Football tax "donations" deductibility at risk???

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Baywave1
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Football tax "donations" deductibility at risk???

Post by Baywave1 »

https://www.businessreport.com/article/ ... urce=dr_am

We had a vigorous discussion about risk of big time college athletics losing its tax donation status either in whole or piecemeal because, well, it's a professional sports business that continues to evolve away from any educational mission.

I don't know if tax deductibility of PSLs will survive or not but point is it will have to be amended out of the current bill and is simply another small but significant sign on which direction this issue is headed.
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Re: Football tax "donations" deductibility at risk???

Post by Poseidon »

“It’s impossible to tell how people would react but potentially it really could be disastrous to intercollegiate athletics in the form we know it now,” LSU Athletic Director Joe Alleva says

By that he means "our advantage over other P5 Schools is at substantial risk."
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ml wave
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Re: Football tax "donations" deductibility at risk???

Post by ml wave »

Baywave1 wrote:https://www.businessreport.com/article/ ... urce=dr_am

We had a vigorous discussion about risk of big time college athletics losing its tax donation status either in whole or piecemeal because, well, it's a professional sports business that continues to evolve away from any educational mission.

I don't know if tax deductibility of PSLs will survive or not but point is it will have to be amended out of the current bill and is simply another small but significant sign on which direction this issue is headed.
Believe the discussion was about if the universities as a whole would lose that status because they have athletic programs. That remains as preposterous now as it was then. Also believe the current bill, or any other legislation, will get passed when I see it.
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Re: Football tax "donations" deductibility at risk???

Post by IM42lane »

I thought that we were not allowed to discuss politics on this board .. EVER!!
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Baywave1
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Re: Football tax "donations" deductibility at risk???

Post by Baywave1 »

ml wave wrote:
Baywave1 wrote:https://www.businessreport.com/article/ ... urce=dr_am

We had a vigorous discussion about risk of big time college athletics losing its tax donation status either in whole or piecemeal because, well, it's a professional sports business that continues to evolve away from any educational mission.

I don't know if tax deductibility of PSLs will survive or not but point is it will have to be amended out of the current bill and is simply another small but significant sign on which direction this issue is headed.
Believe the discussion was about if the universities as a whole would lose that status because they have athletic programs. That remains as preposterous now as it was then. Also believe the current bill, or any other legislation, will get passed when I see it.
Nope I never said that. It was about college athletics being potentially taxed in whole or in part as a business not the true educational part of the university. That is not and never has been at risk. Don't confuse the issue. Universities have always been allowed to own and run taxable businesses as long as they pay taxes on them.

What I said was exactly on point that "big-time" college athletics might/would need a political fix to avoid being reclassed as a taxable professional operation not consistent with its 501(c) status. I was right then and the howling of Alleva and friends is only proving it.
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Re: Football tax "donations" deductibility at risk???

Post by ml wave »

Baywave1 wrote:
ml wave wrote:
Baywave1 wrote:https://www.businessreport.com/article/ ... urce=dr_am

We had a vigorous discussion about risk of big time college athletics losing its tax donation status either in whole or piecemeal because, well, it's a professional sports business that continues to evolve away from any educational mission.

I don't know if tax deductibility of PSLs will survive or not but point is it will have to be amended out of the current bill and is simply another small but significant sign on which direction this issue is headed.
Believe the discussion was about if the universities as a whole would lose that status because they have athletic programs. That remains as preposterous now as it was then. Also believe the current bill, or any other legislation, will get passed when I see it.
Nope I never said that. It was about college athletics being potentially taxed in whole or in part as a business not the true educational part of the university. That is not and never has been at risk. Don't confuse the issue. Universities have always been allowed to own and run taxable businesses as long as they pay taxes on them.

What I said was exactly on point that "big-time" college athletics might/would need a political fix to avoid being reclassed as a taxable professional operation not consistent with its 501(c) status. I was right then and the howling of Alleva and friends is only proving it.
Well, then I misunderstood your earlier point...that said, the howling of Alleva et al shows you why this wont change either. There's 2 senators in LA that have no interest in alienating millions of LSU fans/voters. You can extrapolate that across the country and you wind up with what, 10-15 states with no large college athletic presence? That math isn't going to add up.
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Re: Football tax "donations" deductibility at risk???

Post by ml wave »

IM42lane wrote: I thought that we were not allowed to discuss politics on this board .. EVER!!
Only if we don't change font size.
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Re: Football tax "donations" deductibility at risk???

Post by WaveProf »

I never felt very good/right when I claimed that deduction anyway.
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Re: Football tax "donations" deductibility at risk???

Post by windywave »

IM42lane wrote: I thought that we were not allowed to discuss politics on this board .. EVER!!
If this was political then you would be correct. First the blind link more atrocious than someone's normal MO and now this post. If you start saying birdseed is political I'm going to assume someone has two screen names
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Re: Football tax "donations" deductibility at risk???

Post by windywave »

WaveProf wrote:I never felt very good/right when I claimed that deduction anyway.
Then don't take it.
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Re: Football tax "donations" deductibility at risk???

Post by windywave »

The bigger issue is the excise tax on endowments for us at least. Someone ran the numbers and basically Princeton could pay all tuitions out of its returns, and still make money for the year. Ours is not that big
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Re: Football tax "donations" deductibility at risk???

Post by Roller »

windywave wrote:
WaveProf wrote:I never felt very good/right when I claimed that deduction anyway.
Then don't take it.
Sometimes, the line between conscience and stupidity is a very thin one.
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Re: Football tax "donations" deductibility at risk???

Post by Poseidon »

windywave wrote:
IM42lane wrote: I thought that we were not allowed to discuss politics on this board .. EVER!!
If this was political then you would be correct. First the blind link more atrocious than someone's normal MO and now this post. If you start saying birdseed is political I'm going to assume someone has two screen names
This clearly political, though clearly not partisan. That is what makes it palpable.
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Re: Football tax "donations" deductibility at risk???

Post by windywave »

Poseidon wrote:
windywave wrote:
IM42lane wrote: I thought that we were not allowed to discuss politics on this board .. EVER!!
If this was political then you would be correct. First the blind link more atrocious than someone's normal MO and now this post. If you start saying birdseed is political I'm going to assume someone has two screen names
This clearly political, though clearly not partisan. That is what makes it palpable.
Not political unless you want to make politicalso broadly defined that nothing, not even food or uniforms is allowed
Using big words is not a personal attack
#cousins don't count
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Poseidon
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Re: Football tax "donations" deductibility at risk???

Post by Poseidon »

windywave wrote:
Poseidon wrote:
windywave wrote:
IM42lane wrote: I thought that we were not allowed to discuss politics on this board .. EVER!!
If this was political then you would be correct. First the blind link more atrocious than someone's normal MO and now this post. If you start saying birdseed is political I'm going to assume someone has two screen names
This clearly political, though clearly not partisan. That is what makes it palpable.
Not political unless you want to make politicalso broadly defined that nothing, not even food or uniforms is allowed
It's political as in politicians don't want to touch it with a ten foot pole.
Quote:The Good - TULANE
The Bad - LSU
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