BleedGopher
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per Joe:
When the Gophers ramped up their scholarship seating donation program three years ago, sharply increasing the price for season tickets to revenue sports, one caveat was that the built-in donation was 80 percent tax deductible, a perk the university has called “an outstanding benefit.”
That benefit would disappear under the tax reform bill unveiled Thursday by U.S. House Republications. A tax-deduction repeal is included in the 76-page GOP bill that also would reduce deductions for charitable giving and mortgage interest.
College athletic departments across Minnesota and throughout the country are watching that bill closely, knowing their season-ticket holders could be facing a new financial pinch.
“It would be premature for us to speculate on the impact of this bill, since it still needs to get through both chambers of the Legislature and may look very different following those discussions,” Jake Ricker, Gophers director of strategic communications, said via e-mail.
Scholarship seating donations are part of season-ticket packages for Gophers football, men’s and women’s basketball, men’s hockey and volleyball. The price of the tickets themselves is not tax deductible, but the required donation is. The U website says, “Up to 80 [percent] of the donation is tax deductible, an outstanding benefit compared to our professional counterparts.”
http://www.startribune.com/tax-dedu...n-ticket-plans-could-get-wiped-out/455041233/
Go Gophers!!
When the Gophers ramped up their scholarship seating donation program three years ago, sharply increasing the price for season tickets to revenue sports, one caveat was that the built-in donation was 80 percent tax deductible, a perk the university has called “an outstanding benefit.”
That benefit would disappear under the tax reform bill unveiled Thursday by U.S. House Republications. A tax-deduction repeal is included in the 76-page GOP bill that also would reduce deductions for charitable giving and mortgage interest.
College athletic departments across Minnesota and throughout the country are watching that bill closely, knowing their season-ticket holders could be facing a new financial pinch.
“It would be premature for us to speculate on the impact of this bill, since it still needs to get through both chambers of the Legislature and may look very different following those discussions,” Jake Ricker, Gophers director of strategic communications, said via e-mail.
Scholarship seating donations are part of season-ticket packages for Gophers football, men’s and women’s basketball, men’s hockey and volleyball. The price of the tickets themselves is not tax deductible, but the required donation is. The U website says, “Up to 80 [percent] of the donation is tax deductible, an outstanding benefit compared to our professional counterparts.”
http://www.startribune.com/tax-dedu...n-ticket-plans-could-get-wiped-out/455041233/
Go Gophers!!