Author Topic: Tax Bill Impact on College Sports  (Read 1030 times)

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Offline airboy

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Tax Bill Impact on College Sports
« on: January 21, 2018, 10:30:22 AM »
The recently passed tax bill killed the ability to write off a proportion of the costs of your college season ticket purchase as a charitable contribution.

From memory, I got a $2,500 "charitable deduction" for my $3,500 cost for scholarship men's basketball tickets. 

I've thought this is one of the weirdest tax deductions out there.  I used it on my taxes because it meant less money to the government, but never considered it "charity."

It will have some impact on donations to sports (price goes up, all else being equal quantity demanded goes down), but how much of an impact?  The doubling of the standard deduction means that a lot of people wont' be able to directly write off their charitable contributions - especially the retired (who are a huge proportion of scholarship ticket holders since they have the time to go to games).

I have no idea what the impact will be.  It will take a number of years to get a hard number since you have to sort out the effects of teams winning and the general state of the US economy.  I'm sure that Athletic Directors are sweating this out.

Offline jamus34

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Re: Tax Bill Impact on College Sports
« Reply #1 on: January 23, 2018, 05:11:52 PM »
The fact that schools can claim to be non profit when they’ve made billions on the backs of “student athletes” is just one of the many injustices with our college system.

It’s going to be the next bubble to burst, actually it has already started as these smaller libarts schools have started closing.

College tuitions of 50-60k a year is not sustainable for anyone. And it’s not like college profs pull down megacoin.
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