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re: Math lesson from the money/political boards
Posted on 11/24/15 at 3:27 pm to yellowfin
Posted on 11/24/15 at 3:27 pm to yellowfin
quote:
you are limited to 50% of your income so unless his AGI was 40M for the year he can't deduct it all this year
If it's an 8 year buy-out, then that's 2.5M per year, so his AGI would need to be 5M per year. Also, the rest can be carried forward.
Also, my point wasn't that 1 person could afford to pay it all, but that if there was a group of people putting up the money, the total buy-out is highly reduced by the tax benefit.
1
Posted on 11/24/15 at 3:35 pm to CubsFanBudMan
Let's look at the realistic math problem.
15 million buyout. ? Buyout of another coach to come to LSU
15 million + ? = the amount of money that will be added to all season ticket holders TAF supplement.
If you think 1 person or a few people are going to eat 15 + million you are delusional. This will cost every ticket holder. So that UL Monroe game you get so fired up about just had a bunch tacked on it.
15 million buyout. ? Buyout of another coach to come to LSU
15 million + ? = the amount of money that will be added to all season ticket holders TAF supplement.
If you think 1 person or a few people are going to eat 15 + million you are delusional. This will cost every ticket holder. So that UL Monroe game you get so fired up about just had a bunch tacked on it.
Posted on 11/24/15 at 3:37 pm to Sev09
quote:
Obama is trying to get rid of this part of the tax code, btw...
hey dumb frick. the people trying to eliminate that are ted cruz ("fair" tax) and the yahoos advocating a flat tax.
trust me, they are your enemies as far as taxes go. Obama is gone and can't do shite about them.
Posted on 11/24/15 at 3:38 pm to Martini
Could you be any more clueless? 
Posted on 11/24/15 at 3:40 pm to CubsFanBudMan
Tree fiddy!
Posted on 11/25/15 at 12:03 am to LSU GrandDad
Posted on 11/25/15 at 12:15 am to CubsFanBudMan
most people, even with 20mm to throw around, don't earn that in one year
LINK
be careful getting your tax/investment/any advice whatsoever from a collegiate athletics message board
LINK
quote:
There are limits to how much you can deduct, but they're very high.
For most people, the limits on charitable contributions don't apply. Only if you contribute more than 20% of your adjusted gross income to charity is it necessary to be concerned about donation limits. If the contribution is made to a public charity, the deduction is limited to 50% of your contribution base. For example, if you have an adjusted gross income of $100,000, your deduction limit for that year is $50,000.
be careful getting your tax/investment/any advice whatsoever from a collegiate athletics message board
Posted on 11/25/15 at 12:22 am to mostbesttigerfanever
if buyout is paid over time, what would the interest on this donation be?
Posted on 11/25/15 at 12:44 am to CubsFanBudMan
It's payable over 8 years too so TAF will be collecting interest on the money
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