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Topic: Tax Deductibility

Topic: Tax Deductibility

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TWT
General User

Member Since: 12/20/2004
Location: Alexandria, VA
Post Count: 5,104

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Tax Deductibility

Posted: 5/14/2018 9:47:42 PM

In this years OBC's brochure Jim Schaus says while donations for seats have lost deductibility but if a donation is made directly to the OBC "without benefits" it can be 100% deductible. He doesn't mention that if you have a company you may be better off donating there to the OBC while making a personal contribution for the tickets. Perks of note...$1750 will get you a VIP sideline pass this season, only $250 more than 4 season tickets in the tower club and $20k will get you a dinner with a coach of your choice. I shouldn't give him any ideas but our old friend Monroe I guess could donate the $20k to have dinner with Tim Albin after a bad loss and give him an ear full.

http://www.ohiobobcatclub.com/membership-benefits/new-tax... /

http://www.advisor.ca/tax/tax-news/should-business-owners...

Most Memorable Bobcat Events Attended
2010 97-83 win over Georgetown in NCAA 1st round
2012 45-13 victory over ULM in the Independence Bowl
2015 34-3 drubbing of Miami @ Peden front of 25,086

bobcat695
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Member Since: 12/20/2004
Location: Parkersburg, WV
Post Count: 1,345

Status: Offline

RE: Tax Deductibility

Posted: 5/16/2018 9:46:08 AM

It's become a worse product recently (football and basketball) and effectively more expensive, especially for someone like me who purchases everything through my business. My plan is to peel back my Ohio Athletics budget. I played golf with a group of guys last night who have all been WVU Season ticket holders for decades. All but one let their season tickets go this coming year because of the same combination of lower perceived value and increased net costs. This will really hurt college athletics long-term.

"You can't un-fist a fist pump." - Saul Phillips 1/24/15

Deciduous Forest Cat
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Member Since: 12/20/2004
Location: Ohio
Post Count: 4,411

Status: Offline

RE: Tax Deductibility

Posted: 5/16/2018 10:11:18 AM

honestly, you're worried about the tax deduction? Can we find anything else more petty to complain about? Do you remember when 9 wins was three or more season's worth? How can you say the product is worse?

Alan Swank
General User

Member Since: 12/11/2004
Location: Athens, OH
Post Count: 7,105

Status: Offline

RE: Tax Deductibility

Posted: 5/16/2018 11:06:51 AM

Deciduous Forest Cat wrote:

If you define product as the whole experience, it is worse. Having to pay for the right to buy seats that you didn't use to have pay, said seats (the chair backs) making it virtually impossible to get in and out of the rows, countless media timeouts that stretch the game to 210 minutes plus, the elimination of the Green and White Club tailgates, a lack of Saturday games, pitiful concessions, etc. Interestingly none of this has anything to do with the play on the field which in the win/loss column has improved. That's how he and others can say that the product is worse.

bobcatsquared
General User

Member Since: 12/20/2004
Post Count: 5,292

Status: Offline

RE: Tax Deductibility

Posted: 5/16/2018 12:13:33 PM

. . . quality of opponents, Nov. weeknight games, increased parking hassles, overdone security . . . (to add a few)

OU_Country
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Member Since: 12/6/2005
Location: On the road between Athens and Madison County
Post Count: 8,351

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RE: Tax Deductibility

Posted: 5/16/2018 1:08:53 PM

bobcatsquared wrote:

. . . quality of opponents, Nov. weeknight games, increased parking hassles, overdone security . . . (to add a few)

I agree on the excessive week night games, and over done security - at least at basketball games.

Personally, I'm not seeing the increased parking hassles. Maybe I park in different places, or arrive at different times.

Quality of opponents is an interesting one as well, and one we beat to death here at least in the basketball forum. With regard to football, is it really THAT much worse than it used to be? If so, when was it so much better? Personally, I though last year's schedule was pretty damn good. This year's home schedule with 3 Saturday's is awful, but 90% of that is on the MAC offices.

Deciduous Forest Cat
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Member Since: 12/20/2004
Location: Ohio
Post Count: 4,411

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RE: Tax Deductibility

Posted: 5/16/2018 4:37:02 PM

The parking couldn't be any easier, frankly. The concessions have improved in recent years in variety and speed. You all complain that you want a major league experience, but everyone complains when the cost goes up, even though we are a tremendous value by comparison (and frankly overall). Ohio University doesn't have the power to change the number of timeouts in a game, but yes, that's horrible.

Also, again with the weeknight thing... you want a program, you have to pay more. Ohio fans and MAC fans have shown they're not going to pay a premium, so we have to go after the TV dollars. Suck it up Nancies. Shit costs money.

Last Edited: 5/16/2018 4:37:22 PM by Deciduous Forest Cat

SBH
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Member Since: 12/20/2004
Post Count: 4,057

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RE: Tax Deductibility

Posted: 5/16/2018 4:58:00 PM

I've had BBall and FBall season tickets since the early 1990s and I never once considered whether or not I could deduct the cost from my taxes.

UpSan Bobcat
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Member Since: 8/30/2005
Location: Upper Sandusky, OH
Post Count: 3,800

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RE: Tax Deductibility

Posted: 5/16/2018 9:50:49 PM

Also of note, far fewer people would benefit now than before if ticket donations were tax deductible anyway because the standard deduction was doubled. A high percentage of people are going to take the standard deduction and won't have enough deductions to bother itemizing.

TWT
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Member Since: 12/20/2004
Location: Alexandria, VA
Post Count: 5,104

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RE: Tax Deductibility

Posted: 5/17/2018 1:33:30 AM

SBH wrote:

I've had BBall and FBall season tickets since the early 1990s and I never once considered whether or not I could deduct the cost from my taxes.

If the donation to the OBC is $250 per tower club ticket, with the typical person having 2 tickets up there $250 x 2 x 0.8 is $400 that is tax deductible. At a 40% (high tax bracket +state +local) tax rate the said person would previously be able to write off $160 of the $750 it costs to purchase tower club. I could see where some wouldn't bother to file the amount.

Most Memorable Bobcat Events Attended
2010 97-83 win over Georgetown in NCAA 1st round
2012 45-13 victory over ULM in the Independence Bowl
2015 34-3 drubbing of Miami @ Peden front of 25,086

TWT
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Member Since: 12/20/2004
Location: Alexandria, VA
Post Count: 5,104

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RE: Tax Deductibility

Posted: 5/17/2018 2:01:05 AM

bobcat695 wrote:

I checked and season tickets at WVU for a 6 game home slate begin at $365 which is just shy of the price of a tower club season ticket. Per seat licences run anywhere from $125 to $425. Prices at a program like that are more of a factor and then fan fatigue if they don't sense the program is on the rise.

Most Memorable Bobcat Events Attended
2010 97-83 win over Georgetown in NCAA 1st round
2012 45-13 victory over ULM in the Independence Bowl
2015 34-3 drubbing of Miami @ Peden front of 25,086

OhioCatFan
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Member Since: 12/20/2004
Location: Athens, OH
Post Count: 14,378

Status: Offline

RE: Tax Deductibility

Posted: 5/17/2018 10:30:13 AM

With the new tax law in place, a lot fewer people will be taking itemized deductions. Most will just take the new, higher, standard deduction. At least that's what the tax pundits are saying now.

The only BLSS Certified Hypocrite on BA

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bobcat695
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Location: Parkersburg, WV
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RE: Tax Deductibility

Posted: 5/17/2018 10:31:13 AM

I have 14 season tickets for football. I also had four Bobcat Black basketball seats for a number of years. At one point, I was spending nearly $7,000 a year for tickets and seat donations. Having a 40% increase in net costs is a factor any business would consider at renewal.

Not being able to deduct my football tickets isn't necessarily a deal breaker, but this can't help sales. At larger programs, this will definitely be a factor because business are the ones writing all the big checks for the most expensive seats. Five of my colleagues share a luxury box at Mountaineer Field (25K/year+). You think they aren't discussing the net increase since they cannot deduct that any longer?

Big time athletics will take a hit financially much like country clubs did with the major tax law changes in 1986 when private club dues for executives were no longer deductible.

Last Edited: 5/17/2018 10:35:14 AM by bobcat695

"You can't un-fist a fist pump." - Saul Phillips 1/24/15

Recovering Journalist
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Member Since: 8/17/2010
Location: Cleveland, OH
Post Count: 1,851

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RE: Tax Deductibility

Posted: 5/17/2018 11:06:05 AM

Deciduous Forest Cat wrote:

As much as I agree with your broader point, I've sucked up a lot in recent years. This year's schedule of two FBS Saturday games (one of which I can't attend) was my breaking point. I'm out. No more Tower Club for me. No more football season tickets of any kind for that matter. I am mulling a pair of the cheapest season tickets just to support the program, but that's more charity than anything else.

It's not a cost thing for me -- it's a cost/value thing.

OU_Country
General User

Member Since: 12/6/2005
Location: On the road between Athens and Madison County
Post Count: 8,351

Status: Offline

RE: Tax Deductibility

Posted: 5/17/2018 11:39:14 AM

Recovering Journalist wrote:

It's not a cost thing for me -- it's a cost/value thing.

Seconded. I renewed this year, reluctantly. If there's a schedule like this released next year, with 3 Saturday home games, I will for certain be decreasing my expenditures.

Week night games, while possible for me, aren't nearly as much fun. I can't get there to tailgate as early, and because of that pesky job, I'm not willing to stay until the bitter end when I have to go to work the next day.

Ohio69
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Member Since: 12/20/2004
Post Count: 3,034

Status: Offline

RE: Tax Deductibility

Posted: 5/17/2018 4:27:59 PM

I think bobcat695 and his 14 season tickets (!) and his on-court hoops seats is in a little bit of a different area than most of us on whether the tax changes matter.

But, he missed an opportunity to turn 6 WVU fans into Ohio fans. Come on dude. Step it up you slacker ! (insert sarcasm emoji here)

Can't believe all those R senators from SEC land voted for this tax change. What were they thinking?

Can somebody hit a pull up jumper for me?.....

TWT
General User

Member Since: 12/20/2004
Location: Alexandria, VA
Post Count: 5,104

Status: Offline

RE: Tax Deductibility

Posted: 5/17/2018 8:03:14 PM

OU_Country wrote:

Recovering Journalist wrote:

It's not a cost thing for me -- it's a cost/value thing.

It sounds like its time for the MAC to take back control of its schedule. Go with a streaming provider next time around. Facebook I could see having promise with the MAC fan demographic. Stream a double header games of the week on Saturday every week of the season with the other games available on demand. Boxing is the only sport I know of thus far that has successfully crossed over to on demand. That is because how it happened is as intriguing as the end result. Our sports minds have been trained to watch everything live.

Most Memorable Bobcat Events Attended
2010 97-83 win over Georgetown in NCAA 1st round
2012 45-13 victory over ULM in the Independence Bowl
2015 34-3 drubbing of Miami @ Peden front of 25,086

OU_Country
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Member Since: 12/6/2005
Location: On the road between Athens and Madison County
Post Count: 8,351

Status: Offline

RE: Tax Deductibility

Posted: 5/18/2018 10:33:40 AM

I'd argue the time to take control of the schedule was a few years ago. My thing is this: Put one MAC game per night on Tues/Wed/Thurs as ESPN sees fit. Put the rest back on Saturdays. AND...if they aren't going to put it on live ESPN/ESPN2/ESPNU - move it to Saturday. ESPN3 does no one any good for real exposure, and it can be done on Saturday as well.

And maybe limit the number of weeknight games everyone can have to 3. That gets everyone one more conference Saturday home game, and still satisfies the weeknight football obsession.

Also, because I haven't really followed it, how does the ESPN+ situation fit into this discussion?

OhioCatFan
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Member Since: 12/20/2004
Location: Athens, OH
Post Count: 14,378

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RE: Tax Deductibility

Posted: 5/22/2018 12:07:46 AM

I like your idea OU Country.

Deciduous Forest Cat
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Member Since: 12/20/2004
Location: Ohio
Post Count: 4,411

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RE: Tax Deductibility

Posted: 5/22/2018 11:55:31 AM

OU_Country wrote:

Why doesn't anyone see what a scheduling nightmare you create here? you can't have half the league playing T-W-Th and the rest on Saturday. the late season schedule is already tough enough. No coach is going to accept 5 days rest when his next opponent has had 10.

WishIWasAtLuckys
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Post Count: 160

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RE: Tax Deductibility

Posted: 5/22/2018 2:46:53 PM

Last year was my first year buying tower club seats. I viewed it as a big step for me professionally - I was always very excited to get to the games and the crew I hang out with are about as fun as you can get.

It amazes me how some people can complain about anything. We have the means to purchase a premium experience for ourselves, get to experience Athens and take in a Bobcat win more often than not.

I wish some people would embrace the Athens lifestyle and simply enjoy the day with family and friends.

OU_Country
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Member Since: 12/6/2005
Location: On the road between Athens and Madison County
Post Count: 8,351

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RE: Tax Deductibility

Posted: 5/22/2018 3:10:04 PM

Deciduous Forest Cat wrote:

OU_Country wrote:

I hadn't considered that angle. I still think there are ways around it if the powers that be in the MAC wanted to accommodate a couple more Saturday games for season ticket buyers. Example: have two back to back weeknight games, and then give teams a bye week to get back onto a Saturday schedule.

In a quick look at the schedule, I found two teams that have a Thursday following a Saturday twice. Temple, and Wake Forest. In Temple's case, late in the year, the league scheduled their bye week the week before. Seems to me the MAC could do the same thing? Also, The Miami Hurricanes have a 5 day week, and two 6 day weeks during the year.

Speaker of Truth
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Member Since: 1/26/2011
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RE: Tax Deductibility

Posted: 5/22/2018 8:43:47 PM

A few questions:

1. If the MAC refuses weekday games...where is the money going to come from in regards to lost TV revenue?

2. Green and White Club: I wasn't around for this, but what's the big deal? Just organize a tailgate in one of the lots and invite your friends?

OU_Country
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Member Since: 12/6/2005
Location: On the road between Athens and Madison County
Post Count: 8,351

Status: Offline

RE: Tax Deductibility

Posted: 5/23/2018 10:58:07 AM

the123kid wrote:

I'm sure it's been discussed before, but what is the approximate number as it relates to TV Revenue per school? I wouldn't suggest a switch away from weekday games altogether, but cutting 2 per team off the schedule makes sense to me if it can be worked out. Probably not gonna happen, I know.

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