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Started By
Message
re: Tax changes could cost LSU athletics up to $50 million
Posted on 11/12/17 at 9:22 pm to LSU GrandDad
Posted on 11/12/17 at 9:22 pm to LSU GrandDad
quote:
agree 100% that the "charity" deduction has gone to far.
A required payment in no way should be considered a charitable contribution.
0
Posted on 11/12/17 at 9:25 pm to Jim Rockford
I don’t care as long as it’s every program. Tax payers should not be helping a billion dollar industry like college football.
Posted on 11/12/17 at 9:33 pm to joeytiger
Straight out of the F. King Alexander playbook of fear-mongering. Alexander and Alleva are both colossal jokes who should be unemployed or at least not under LSU's employ.
Posted on 11/12/17 at 9:39 pm to Jim Rockford
I would bet if you polled the vast majority of season ticket holders in the stadium in 2 weeks and asked them about this they wouldn't have a clue about the charitable contribution deduction amount.
The donations happen because fans want the tickets, the tax deduction is lagniappe.
The donations happen because fans want the tickets, the tax deduction is lagniappe.
Posted on 11/12/17 at 9:41 pm to Jim Rockford
Who cares. I love LSU, but I wish all schools were private from k-grad school.
Posted on 11/12/17 at 9:42 pm to roger79
This is a bit more than fearmongering. This could cause LSU and TAF to really re-evaluate their business model/hustle.
How would LSU make the payments on the debt that they rack up every time they decide to upgrade or renovate the already too-large Tiger Stadium? Today that money comes from tax-deductible "donations" from ticket holders. If that revenue is taxed, you're a looking at an approximate 20% increase in ticket prices OR an approximate 20% drop in revenue. Most likely, there would be some combination of the two.
Assuming that LSU has been effectively practicing profit-optimizing pricing, there is no outcome that results in an increase in profit.
How would LSU make the payments on the debt that they rack up every time they decide to upgrade or renovate the already too-large Tiger Stadium? Today that money comes from tax-deductible "donations" from ticket holders. If that revenue is taxed, you're a looking at an approximate 20% increase in ticket prices OR an approximate 20% drop in revenue. Most likely, there would be some combination of the two.
Assuming that LSU has been effectively practicing profit-optimizing pricing, there is no outcome that results in an increase in profit.
Posted on 11/12/17 at 9:46 pm to Skeezer
quote:
Who cares. I love LSU, but I wish all schools were private from k-grad school.
I couldn't disagree more. This country is exceptional because of Thomas Jefferson's commitment to public education. There is not an advanced country on Earth that has not made the same commitment.
Despite what you think about our public education, there is no single investment with a higher return and it's not even close.
Posted on 11/12/17 at 10:17 pm to yellowfin
quote:
That's ridiculous, people are making those donations for tickets. Not tax deductions
Good! It should not be considered a charitable donation if you are directly benefitting from your “donation”.
Posted on 11/12/17 at 10:27 pm to Jim Rockford
My donaton is 800 a year. So I get back approx 150 dollars.
Yeah uh.. I'm faaaaaaar more likely to not renew my seats due to shitastic concession's horrible horrible home schedules (although sec schedule is great next year) traffic and constant cost increases than I would because I can't get back 150 dollar's on a required donation months later.
Yeah uh.. I'm faaaaaaar more likely to not renew my seats due to shitastic concession's horrible horrible home schedules (although sec schedule is great next year) traffic and constant cost increases than I would because I can't get back 150 dollar's on a required donation months later.
Posted on 11/12/17 at 10:43 pm to The Boat
quote:
LSU and their lib bitch femme leadership can frick off with their fear mongering.
Found the Fox News viewer.
Posted on 11/12/17 at 10:46 pm to Monsieur le Duc
quote:
Found the Fox News viewer.
That's about 95% of this site.
Posted on 11/12/17 at 11:00 pm to LSU GrandDad
quote:
this "taxes on a postcard" is specifically designed to appeal to dumb shits and it is working.
I tend to agree with you from the little marcels that are being bantered about on MSM/Cable. Another point that I have heard nothing on thus far is SS retirement income. A portion of mine is currently taxed as ordinary income after years of me/employer paying into it. So I was taxed to put it in and now taxed to take it out. They made this subtle little change back in the 80's or 90's to raise Fed revenues.
Notice how "hedge fund" dudes, so talked about in the campaign, barely a whisper about any taxation changes????
Posted on 11/12/17 at 11:23 pm to Laman1978
quote:
quote:
"It could be disastrous — for not just us, but every athletic department in the country,"
That's fine with me. As long as it affects everyone equally.
but it wont
Posted on 11/12/17 at 11:30 pm to Jim Rockford
Most of the big ballers expense through their business. They are not worried about changes to itemized deductions.
Posted on 11/12/17 at 11:59 pm to victoire sécurisé
quote:
I couldn't disagree more. This country is exceptional because of Thomas Jefferson's commitment to public education. There is not an advanced country on Earth that has not made the same commitment.
Despite what you think about our public education, there is no single investment with a higher return and it's not even close.
Extensive research done in England and the US found that upwards of 90% of children were attending school before it was made compulsory and public.
Posted on 11/13/17 at 1:18 am to victoire sécurisé
quote:
I couldn't disagree more. This country is exceptional because of Thomas Jefferson's commitment to public education. There is not an advanced country on Earth that has not made the same commitment.
Despite what you think about our public education, there is no single investment with a higher return and it's not even close.
Bro, I taught school for 10 years and was an assistant principal for 3 in one of the top school districts in the state of texas, there is no greater waste of money than public education. When half of your staff isn’t even in the classroom teaching kids it’s a joke, we had specialists out the wazzu, 27 deans, and 10 teaching coaches. I added it up and we had close to 4 million dollars worth of employees in our school that weren’t in a classroom.. it is the biggest joke I’ve ever seen, our special education dept alone was 1.7 million a year. And it’s because of all the bs education laws on the books. I could run a school with half of what was our 10 million operating budget if you allow me to do two things. Paddle and or expel.. we had 19 year olds selling drugs and couldn’t spell their names. That same school district went from being ranked #1 in texas to now #27 in 5 years..
Posted on 11/13/17 at 1:49 am to Jim Rockford
On a related note: I've always wondered why don't they build up an endowment/rainy day slush fund with their current successes.
Posted on 11/13/17 at 2:17 am to roger79
quote:Yet they continue to be because none of you MA's will raise high holy hell with the BOS. (The only solution)
Straight out of the F. King Alexander playbook of fear-mongering. Alexander and Alleva are both colossal jokes who should be unemployed or at least not under LSU's employ.
Yall "Talk the Talk" on a message board, but don't "Walk the Walk" with the LSUBOS in real life. (The only way to initiate the process of removing FKA and JA starts there)
Posted on 11/13/17 at 6:51 am to LSU GrandDad
quote:
there are a lot of these "details" that will come out after the fact that will cause many people to realize the truth. when a politician (of either party) utters the words "tax reform" somebody is gonna get fricked. and that someone is never the damn politicians or their wealthy buddies. I've been around a long time and this always is the case.
“Because back in my day...all the time...everything was always...and it’s always going to be because I’ve been around”
Did I get that right? Yeah, it doesn’t make any sense, does it?
Posted on 11/13/17 at 7:38 am to victoire sécurisé
quote:
No fan of the tax plan in general, but I never did like the season ticket loophole deduction.
The fact that wealthy business owners get a deduction for buying season tickets for "marketing" purposes is lunacy.
The entire 501(c) donation tax expense just opens up too much opportunity for abuse of its intended purpose.
I could be wrong but businesses may still be able to deduct the fee as a marketing expense. Individuals won't be able to deduct it.
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