+ Reply to Thread
Page 1 of 3 123 LastLast
Results 1 to 15 of 40

Thread: Tax Bill Bringing Big Changes to College Athletics

Hybrid View

  1. #1
    Champ tenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond repute
    Join Date
    Dec 2003
    Location
    Minden / Homer
    Posts
    4,427

    Tax Bill Bringing Big Changes to College Athletics

    https://www.google.com/amp/s/amp.usa.../amp/968741001

    No more deductibility for the right to buy season tickets. 21% excise tax on salaries of $1 million or more. Unrelated income is going to take a hit too.

    Coach O's salary will carry $630k excise tax. Saban's salary will cost over $1 mil. ULoL is already cash strapped and will have to come up with another $250k. Have to think this will affect coaches salaries, especially for the G5s and less affluent P5 schools.

    Will be interesting to see how all this plays out.

  2. #2
    Super Moderator PawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond repute PawDawg's Avatar
    Join Date
    Sep 2002
    Posts
    57,423

    Re: Tax Bill Bringing Big Changes to College Athletics

    Quote Originally Posted by tenacious_dog View Post
    https://www.google.com/amp/s/amp.usatoday.com/amp/968741001

    No more deductibility for the right to buy season tickets. 21% excise tax on salaries of $1 million or more. Unrelated income is going to take a hit too.

    Coach O's salary will carry $630k excise tax. Saban's salary will cost over $1 mil. ULoL is already cash strapped and will have to come up with another $250k. Have to think this will affect coaches salaries, especially for the G5s and less affluent P5 schools.

    Will be interesting to see how all this plays out.
    Pretty sure this will not come into play on foundation payments to coaches, but only the direct payments from the universities.

    W/out looking much, I dont' think deductibility for the right to buy season tickets won't hurt many, if any, G5s.

  3. #3
    Champ tenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond repute
    Join Date
    Dec 2003
    Location
    Minden / Homer
    Posts
    4,427

    Re: Tax Bill Bringing Big Changes to College Athletics

    Foundations are 501(c)3's too and their payments to coaches are intended to be compensation. Maybe you can run $999k through the university & $999k through a foundation. Really depends on how the law actually reads.

  4. #4
    Super Moderator PawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond repute PawDawg's Avatar
    Join Date
    Sep 2002
    Posts
    57,423

    Re: Tax Bill Bringing Big Changes to College Athletics

    Quote Originally Posted by tenacious_dog View Post
    Foundations are 501(c)3's too and their payments to coaches are intended to be compensation. Maybe you can run $999k through the university & $999k through a foundation. Really depends on how the law actually reads.
    Okay, I just read some of the P5 ranting and some of them indicated they could fund from sources outside the university. I assumed they meant foundations.

  5. #5
    Champ dawg80 has a reputation beyond reputedawg80 has a reputation beyond reputedawg80 has a reputation beyond reputedawg80 has a reputation beyond reputedawg80 has a reputation beyond reputedawg80 has a reputation beyond reputedawg80 has a reputation beyond reputedawg80 has a reputation beyond reputedawg80 has a reputation beyond reputedawg80 has a reputation beyond reputedawg80 has a reputation beyond repute dawg80's Avatar
    Join Date
    Sep 2002
    Posts
    42,100

    Re: Tax Bill Bringing Big Changes to College Athletics

    Good! maybe this will help level the playing field some for G5s.

    Beyond that, we're supposed to care that some rich cats will take a hit on their taxes because they spend like drunken pirates on sports? But, I am confused, Nasty Nancy and little Chuckie-boy have been screaming this tax bill HELPS the rich and kills the middle-class. What....ya mean, Nancy and Chuckie have been telling fibs.

  6. #6
    Champ tenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond reputetenacious_dog has a reputation beyond repute
    Join Date
    Dec 2003
    Location
    Minden / Homer
    Posts
    4,427

    Re: Tax Bill Bringing Big Changes to College Athletics

    I think it could help set a bar that will hold salaries down.

  7. #7
    2011 Pick 'Em Champion johnnylightnin has a reputation beyond reputejohnnylightnin has a reputation beyond reputejohnnylightnin has a reputation beyond reputejohnnylightnin has a reputation beyond reputejohnnylightnin has a reputation beyond reputejohnnylightnin has a reputation beyond reputejohnnylightnin has a reputation beyond reputejohnnylightnin has a reputation beyond reputejohnnylightnin has a reputation beyond reputejohnnylightnin has a reputation beyond reputejohnnylightnin has a reputation beyond repute johnnylightnin's Avatar
    Join Date
    Sep 2003
    Location
    Shreevesburg
    Posts
    29,338

    Re: Tax Bill Bringing Big Changes to College Athletics

    Our foundation folks are going to have a lot of work to do with the adjusted death tax limits.

    Need to be pro-active on that sort of thing. Not sure how many of our donors are needing our foundation’s help to alleviate their estate issue, but whatever that number, it just went down drastically.

  8. #8
    Super Moderator PawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond repute PawDawg's Avatar
    Join Date
    Sep 2002
    Posts
    57,423

    Re: Tax Bill Bringing Big Changes to College Athletics

    Quote Originally Posted by johnnylightnin View Post
    Our foundation folks are going to have a lot of work to do with the adjusted death tax limits.

    Need to be pro-active on that sort of thing. Not sure how many of our donors are needing our foundation’s help to alleviate their estate issue, but whatever that number, it just went down drastically.
    We've never taken full advantage of that in the past. I'm not sure what Hull did over the past two years, but it had to be more than what had been done before him.

    The estate tax being adjusted was a good thing. Charities won't suffer because of it, they'll just change the method of funding.

  9. #9
    Dawg Adamant Argument Czar Guisslapp has a reputation beyond reputeGuisslapp has a reputation beyond reputeGuisslapp has a reputation beyond reputeGuisslapp has a reputation beyond reputeGuisslapp has a reputation beyond reputeGuisslapp has a reputation beyond reputeGuisslapp has a reputation beyond reputeGuisslapp has a reputation beyond reputeGuisslapp has a reputation beyond reputeGuisslapp has a reputation beyond reputeGuisslapp has a reputation beyond repute Guisslapp's Avatar
    Join Date
    Dec 2006
    Location
    In your mind and under your skin
    Posts
    29,875

    Re: Tax Bill Bringing Big Changes to College Athletics

    Quote Originally Posted by PawDawg View Post
    We've never taken full advantage of that in the past. I'm not sure what Hull did over the past two years, but it had to be more than what had been done before him.

    The estate tax being adjusted was a good thing. Charities won't suffer because of it, they'll just change the method of funding.
    https://www.google.com/amp/s/www.bro...le-giving/amp/

    Why are you so sure the estate tax exemption won’t hurt charities? What informs this opinion?

  10. #10
    Super Moderator PawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond repute PawDawg's Avatar
    Join Date
    Sep 2002
    Posts
    57,423

    Re: Tax Bill Bringing Big Changes to College Athletics

    Quote Originally Posted by Guisslapp View Post
    https://www.google.com/amp/s/www.bro...le-giving/amp/

    Why are you so sure the estate tax exemption won’t hurt charities? What informs this opinion?
    To believe otherwise you have to assume the ONLY reason people give to charities is for the tax breaks. That may be true for some people and charities, but IMO that's not a good crowd to run in.

    Who do you know who will punish their favorite charity because they don't get the same tax break they got before?

    I know you don't believe like I do, but I don't believe gifts given out of greed will be honored by God. For example, it's always bothered me when churches feel the need to announce the last date to give in order to still receive the tax breaks for the current year.

  11. #11
    Super Moderator PawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond repute PawDawg's Avatar
    Join Date
    Sep 2002
    Posts
    57,423

    Re: Tax Bill Bringing Big Changes to College Athletics

    BTW, this particular article assumes money comes from estate cash only, not leveraged funds of the estates. It way over simplifies the forms of giving.

  12. #12
    Champ Dogsince65 has a reputation beyond reputeDogsince65 has a reputation beyond reputeDogsince65 has a reputation beyond reputeDogsince65 has a reputation beyond reputeDogsince65 has a reputation beyond reputeDogsince65 has a reputation beyond reputeDogsince65 has a reputation beyond reputeDogsince65 has a reputation beyond reputeDogsince65 has a reputation beyond reputeDogsince65 has a reputation beyond reputeDogsince65 has a reputation beyond repute Dogsince65's Avatar
    Join Date
    Jul 2010
    Location
    Shreveport
    Posts
    5,002

    Re: Tax Bill Bringing Big Changes to College Athletics

    Quote Originally Posted by Guisslapp View Post
    https://www.google.com/amp/s/www.bro...le-giving/amp/

    Why are you so sure the estate tax exemption won’t hurt charities? What informs this opinion?
    . Estate tax deductions have been a moving target for 100 years— during Bush it changed practically every year for 10 years - disappeared for 1 year and came back the following year- point is : anyone making predictions for the long run are guessing—. I am concerned that charities will have dip if deduction are reduced or eliminated ..

  13. #13
    Champ TYLERTECHSAS has a reputation beyond reputeTYLERTECHSAS has a reputation beyond reputeTYLERTECHSAS has a reputation beyond reputeTYLERTECHSAS has a reputation beyond reputeTYLERTECHSAS has a reputation beyond reputeTYLERTECHSAS has a reputation beyond reputeTYLERTECHSAS has a reputation beyond reputeTYLERTECHSAS has a reputation beyond reputeTYLERTECHSAS has a reputation beyond reputeTYLERTECHSAS has a reputation beyond reputeTYLERTECHSAS has a reputation beyond repute
    Join Date
    Sep 2002
    Location
    Texas
    Posts
    53,273

    Re: Tax Bill Bringing Big Changes to College Athletics

    Quote Originally Posted by Guisslapp View Post
    https://www.google.com/amp/s/www.bro...le-giving/amp/

    Why are you so sure the estate tax exemption won’t hurt charities? What informs this opinion?
    Do you wish this to happen? Most don't give just for the tax exemption.

  14. #14
    Dawg Adamant Argument Czar Guisslapp has a reputation beyond reputeGuisslapp has a reputation beyond reputeGuisslapp has a reputation beyond reputeGuisslapp has a reputation beyond reputeGuisslapp has a reputation beyond reputeGuisslapp has a reputation beyond reputeGuisslapp has a reputation beyond reputeGuisslapp has a reputation beyond reputeGuisslapp has a reputation beyond reputeGuisslapp has a reputation beyond reputeGuisslapp has a reputation beyond repute Guisslapp's Avatar
    Join Date
    Dec 2006
    Location
    In your mind and under your skin
    Posts
    29,875

    Re: Tax Bill Bringing Big Changes to College Athletics

    Quote Originally Posted by PawDawg View Post
    To believe otherwise you have to assume the ONLY reason people give to charities is for the tax breaks. That may be true for some people and charities, but IMO that's not a good crowd to run in.

    Who do you know who will punish their favorite charity because they don't get the same tax break they got before?

    I know you don't believe like I do, but I don't believe gifts given out of greed will be honored by God. For example, it's always bothered me when churches feel the need to announce the last date to give in order to still receive the tax breaks for the current year.
    Incorrect. It only assumes that some people give more because of tax breaks.

    Do you disagree?

    And even if you do factor in the tax break, what makes it a “gift of greed”? It is not like you make money from giving - it just costs less to give to the charity than to individuals.

  15. #15
    Super Moderator PawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond reputePawDawg has a reputation beyond repute PawDawg's Avatar
    Join Date
    Sep 2002
    Posts
    57,423

    Re: Tax Bill Bringing Big Changes to College Athletics

    Quote Originally Posted by Guisslapp View Post
    Incorrect. It only assumes that some people give more because of tax breaks.

    Do you disagree?

    And even if you do factor in the tax break, what makes it a “gift of greed”? It is not like you make money from giving - it just costs less to give to the charity than to individuals.
    I won't try to convince you otherwise, but my beliefs on giving are sincere.

    If a person gives ANYTHING expecting something in return it is not a gracious gift. Why give otherwise?

+ Reply to Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts