GOP Tax Plan Consequences To 2019 Ticket Prices?

[duke4heisman]

I wonder how many of those Golden Canes/Living Room Boxes will now be open because of this.

Yep.....17.5k, 25k and 55k and is was all donation but like I said, most of them don't have to worry about that amount to spend or write off

You make a good point about them not having to worry about the spend or write off. I wonder what level (price point) it will affect the most. Maybe just the club level seats.

As long as those high donation level areas don't stop, I don't think it will have much of an impact. There's a significant drop in total prices after them, although the donation portion is the majority of the cost, I don't see that amount as affecting overall taxes for most.

 

[tdjones34]

Let me keep more of my money and I'll spend it on the Canes!

Post of the year!

 

[SpikeUM]

Wont they simply eliminate the donation and raise ticket prices by an equal amount?

 

[duke4heisman]

Wont they simply eliminate the donation and raise ticket prices by an equal amount?

That's pointless, your paying the same price with no deduction; without giving to athletics.

 

[gruntking]

It will probably only affect the high end donations but most of those people can afford to not worry about the tax break. It is crazy the cost of some donations though, my endzone suite is only $700 per ticket but $1150 donation. To move to the sideline, it's 25k and the champions suite, it's 55k.

Pretty much the reason I posted- Miami (and a ton of other programs) have heavily structured their ticketing around the mandatory donations. I'm reallllllly surprised that college athletics wasn't able to lobby this out of the final tax bill. Seems grossly negligent by them.

I agree about the lack of lobby for this donations deduction. Politically, it should be evenly impacting as both GOP and DEMS like football and both like client perks where high enders are involved. For the average middleclass season ticket buyer the tax plan will have them paying less taxes, with higher standard deduction and more money in there pocket. Schools may want to rethink donation categories/requirements for 2019 in advance to avoid havoc.

 

[Meat]

Poor people thread

yup, poor democrat voters spoiled with freebies. I'm in a tax bracket where my personal tax liability will not decrease.So be it. But, my company tax rate will decrease from 37 % to 21%. This decrease will result in increased profits for my company. Therefore I will be a net winner because I will issue special dividends every year and pay significantly less taxes than ordinary income taxes.

No it won't. Only publicly traded "C" corporations will pay 21%.

 

[GenericYesMan]

Poor people thread

yup, poor democrat voters spoiled with freebies. I'm in a tax bracket where my personal tax liability will not decrease.So be it. But, my company tax rate will decrease from 37 % to 21%. This decrease will result in increased profits for my company. Therefore I will be a net winner because I will issue special dividends every year and pay significantly less taxes than ordinary income taxes.

No it won't. Only publicly traded "C" corporations will pay 21%.

But how is he going to take a shot at democrats without lying about being the CEO of a major corporation while posting on a message board in the middle of a weekday afternoon?

 

[CaneFan79]

IRS Facts:

The bottom 50 percent of income earners, those having an adjusted gross income of $39,275 or less, pay 2.83 percent of federal income taxes

Thirty-seven million tax filers have no tax obligation at all. They get refund checks for the whole amount withheld

About 1.7 million Americans, less than 1 percent of our population, pay 70.6 percent of federal income taxes

 

[gruntking]

IRS Facts:

The bottom 50 percent of income earners, those having an adjusted gross income of $39,275 or less, pay 2.83 percent of federal income taxes

Thirty-seven million tax filers have no tax obligation at all. They get refund checks for the whole amount withheld

About 1.7 million Americans, less than 1 percent of our population, pay 70.6 percent of federal income taxes

If we could get ordained clergy like Al Sharpton (and others) to pay their tax obligations, we all could get free season tickets. I was in the wrong business.

 

[gruntking]

Let me keep more of my money and I'll spend it on the Canes!

Bingo... Genie delivered.

 

[CaneOil]

It will probably only affect the high end donations but most of those people can afford to not worry about the tax break. It is crazy the cost of some donations though, my endzone suite is only $700 per ticket but $1150 donation. To move to the sideline, it's 25k and the champions suite, it's 55k.

Pretty much the reason I posted- Miami (and a ton of other programs) have heavily structured their ticketing around the mandatory donations. I'm reallllllly surprised that college athletics wasn't able to lobby this out of the final tax bill. Seems grossly negligent by them.

The right wants to hurt universities as much as possible in this bill, so it's not surprising at all.

Hilariously enough President Dip**** begged them to leave in the tax write offs for new stadium financing because Trump in the end is a fraud even down to his NFL **** fest.

The tax payers shouldn't be paying one ******* penny to these schools. Charging 60 grand a year and they can't pay their bills? Getting tens of millions in TV contracts. Some are getting paid way the F too much and retiring with big pensions at 55 years old or so. Colleges are one of the biggest scams of our time to young people, take a look at what some of these professors are getting paid and you'll **** yourself. There should be no tax write offs for anyone. Take a look at what all these scammers make at UF it's posted because it's public, I love my Canes football period.

 

[TheMatador]

Cry me a river.

 

[caneworld]

They will figure out another way to put the passionate fans over a barrel ... the shakedown money with come one way or another.

 

[caneworld]

Not to worry.
They will figure out another way to put the passionate fans over a barrel ... the shakedown money with come one way or another.

 

[coffeecane]

All politics aside, this will probably raise overall ticket pricing if the tax incentives are stripped from the Hurricane Club donations- especially on the higher level required donations to buy the more premium season tickets.

From the Hurricane Club earlier this week:

View attachment 56455

From Rovell today:

[TWEET]943205700284698625[/TWEET]

The great news is that the tax savings you will get under the plan far exceeds the tax benefit from the deductibility of the donation. Everyone still wins!

 

[HurricaneU]

Tragedy of the commons

 

[simplycanes]

There will be a loophole to this. The "donation" portion will be routed through the general fund and transferred to athletics. That is still allowable under the legislation. The money might not be able to go to the specific athletic department vehicles, e.g. the Hurricane Club.

 

[Awsi Dooger]

Everyone still wins!

Notably the opposing party, once the effects are felt: https://slate.com/business/2017/12/republicans-are-about-to-repeat-kansas-tax-cut-disaster.html

"In April, a group of economists took stock of the Kansas misadventure, using administrative tax data to figure out whether the cuts had done any good at all. In short, the researchers concluded, they had not. The main effect, it seemed, was that business owners relabeled some of their income as “profits” rather than wages in order to cut their tax bills. Business investment by passthroughs actually seemed to decline slightly."

Actually it's already happening. The new registration percentages are overwhelming this year, the most lopsided in modern history in terms of one party favored over the other. That's the residue of sustained 35ish approval rating.

Time for more suppression.

 

[mianjomar]

Poor people thread

yup, poor democrat voters spoiled with freebies. I'm in a tax bracket where my personal tax liability will not decrease.So be it. But, my company tax rate will decrease from 37 % to 21%. This decrease will result in increased profits for my company. Therefore I will be a net winner because I will issue special dividends every year and pay significantly less taxes than ordinary income taxes.

Don't forget the positive performance in your 401k.

 

[GenericYesMan]

Now, universities are encouraging alumni to prepay their tickets before the law changes Jan. 1 -- and not just for 2018. Some, including the University of South Carolina and the University of Oklahoma are accepting up-front seat payments for three years; the University of Georgia would take five; Notre Dame, ten -- at least, “in theory,” according to spokesman Paul Browne. Oklahoma State has set no limit.

Notre Dame notified about 4,500 football season-ticket holders about the potential advantage of prepayment and have heard a “significant response,” Browne said.

Georgia alumnus John Parker -- a “Silver Circle” Bulldog Club donor, representing a minimum commitment of $1 million over five years -- spoke with his financial advisers and took out his checkbook. He pre-paid the next five years of donations for his 16 season tickets near the 50-yard line of Sanford Stadium in Athens, Georgia. That package of seats typically costs about $15,000 a year.

Once the tax break disappears, Parker said it will hurt college athletics. The University of Georgia collects $45 million in donations, of which $32 million are tax-deductible.

“People won’t stop giving, but it will hurt,” said Parker, a Georgia native and former general counsel of bottler Coca-Cola Enterprises. “People may not give as much, or as often, and the school is losing the tax-deduction sales pitch.”

Jon Bakija, a Williams College economist, has estimated that donations will fall 20 to 30 percent, but others have said the impact is unclear. After all, NFL fans routinely shell out for tickets without government help.

John Addison, Georgia class of 1979, said he didn’t even realize his ticket-related donations were tax deductible until he heard that status was being revoked. After speaking with his UBS tax adviser, he is cutting a $50,000 check for the next five years worth of rights to eight season tickets.

https://www.bloomberg.com/news/arti...eams-mount-blitz-to-lock-in-donors-tax-breaks