Football tax "donations" deductibility at risk???
Football tax "donations" deductibility at risk???
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.
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.
Re: Football tax "donations" deductibility at risk???
“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."
By that he means "our advantage over other P5 Schools is at substantial risk."
Quote:The Good - TULANE
The Bad - LSU
THe Ugly - USM
Honorable mention - Navy
The Bad - LSU
THe Ugly - USM
Honorable mention - Navy
Re: Football tax "donations" deductibility at risk???
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.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.
Re: Football tax "donations" deductibility at risk???
I thought that we were not allowed to discuss politics on this board .. EVER!!
A.S. Madere ("Pete")
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Hammond, LA 70401-1519
Email: IM42lane@yahoo.com
2005 Dennis Drive
Hammond, LA 70401-1519
Email: IM42lane@yahoo.com
Re: Football tax "donations" deductibility at risk???
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.ml wave wrote: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.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.
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.
Re: Football tax "donations" deductibility at risk???
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.Baywave1 wrote: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.ml wave wrote: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.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.
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.
Re: Football tax "donations" deductibility at risk???
Only if we don't change font size.IM42lane wrote: I thought that we were not allowed to discuss politics on this board .. EVER!!
- WaveProf
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Re: Football tax "donations" deductibility at risk???
I never felt very good/right when I claimed that deduction anyway.
“We will expect success in all endeavors and be prepared to assess and hold ourselves accountable when we aren't successful. Tulane is a top 40 academic institution and it should expect nothing less from its athletic department.” --Troy Dannen 11.5.16
Re: Football tax "donations" deductibility at risk???
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 namesIM42lane wrote: I thought that we were not allowed to discuss politics on this board .. EVER!!
Using big words is not a personal attack
#cousins don't count
#cousins don't count
Re: Football tax "donations" deductibility at risk???
Then don't take it.WaveProf wrote:I never felt very good/right when I claimed that deduction anyway.
Using big words is not a personal attack
#cousins don't count
#cousins don't count
Re: Football tax "donations" deductibility at risk???
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
Using big words is not a personal attack
#cousins don't count
#cousins don't count
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Re: Football tax "donations" deductibility at risk???
Sometimes, the line between conscience and stupidity is a very thin one.windywave wrote:Then don't take it.WaveProf wrote:I never felt very good/right when I claimed that deduction anyway.
Re: Football tax "donations" deductibility at risk???
This clearly political, though clearly not partisan. That is what makes it palpable.windywave wrote: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 namesIM42lane wrote: I thought that we were not allowed to discuss politics on this board .. EVER!!
Quote:The Good - TULANE
The Bad - LSU
THe Ugly - USM
Honorable mention - Navy
The Bad - LSU
THe Ugly - USM
Honorable mention - Navy
Re: Football tax "donations" deductibility at risk???
Not political unless you want to make politicalso broadly defined that nothing, not even food or uniforms is allowedPoseidon wrote:This clearly political, though clearly not partisan. That is what makes it palpable.windywave wrote: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 namesIM42lane wrote: I thought that we were not allowed to discuss politics on this board .. EVER!!
Using big words is not a personal attack
#cousins don't count
#cousins don't count
Re: Football tax "donations" deductibility at risk???
It's political as in politicians don't want to touch it with a ten foot pole.windywave wrote:Not political unless you want to make politicalso broadly defined that nothing, not even food or uniforms is allowedPoseidon wrote:This clearly political, though clearly not partisan. That is what makes it palpable.windywave wrote: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 namesIM42lane wrote: I thought that we were not allowed to discuss politics on this board .. EVER!!
Quote:The Good - TULANE
The Bad - LSU
THe Ugly - USM
Honorable mention - Navy
The Bad - LSU
THe Ugly - USM
Honorable mention - Navy