Will new tax plan impact deductibility on donations for Gopher tickets

Stan

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The new tax proposal ends deductibility on donations attached to seat licenses at sporting events, is that what the Gopher ticket donations are considered? Seat licenses or would that not impact us? Please don't turn this into a thread on the tax plan, my only inquiry is the impact to Gopher tickets.
 

Charitable donations are unlikely to be impacted directly.

Only the house tax plan passed and even assuming the senate passed a tax plan they have to make adjustments between the two.

Having said that charitable donations are super popular and they've been singled out as something to be protected according to numerous politicians.

Not likely to have an impact at this point.
 

Charitable donations are unlikely to be impacted directly.

Only the house tax plan passed and even assuming the senate passed a tax plan they have to make adjustments between the two.

Having said that charitable donations are super popular and they've been singled out as something to be protected according to numerous politicians.

Not likely to have an impact at this point.

OK. I was reacting to this, not sure if that is the same as above. @_collenmurphy_: "NEW 1.4 percent tax on college endowments with assets of more than $100K per student is in today's tax reform bill ... Plan also ends deductibility on donations attached to seat licenses at sporting events".
 

The new tax proposal ends deductibility on donations attached to seat licenses at sporting events, is that what the Gopher ticket donations are considered? Seat licenses or would that not impact us? Please don't turn this into a thread on the tax plan, my only inquiry is the impact to Gopher tickets.

I think you mean "donations".
 

OK. I was reacting to this, not sure if that is the same as above. @_collenmurphy_: "NEW 1.4 percent tax on college endowments with assets of more than $100K per student is in today's tax reform bill ... Plan also ends deductibility on donations attached to seat licenses at sporting events".

As far as the Gophers goes there are no seat licenses so that's not really in play that I can tell.
 



As far as the Gophers goes there are no seat licenses so that's not really in play that I can tell.

I think the U calls them "scholarship seating fees" but I wonder if the IRS still sees it as a seat license? I don't know enough about tax law or the current proposal to know.
 

I think the U calls them "scholarship seating fees" but I wonder if the IRS still sees it as a seat license? I don't know enough about tax law or the current proposal to know.

They let me deduct it as a donation so I think they consider them donations. Not seat licenses.

I don't own anything with my donations... seat license I own a thing even if it is kinda stupid.
 

The part of the tax plan that changes will be the standard deduction going way up. The donations we make as season ticket holders count, but for 95+% of us, we won't be going above the standard deduction anyway, meaning it won't help.
 



The part of the tax plan that changes will be the standard deduction going way up. The donations we make as season ticket holders count, but for 95+% of us, we won't be going above the standard deduction anyway, meaning it won't help.

According to a quick googling, the IRS reported in 2013 that about 30% of households itemized.
 

Yes, but with the new plan, it would be less than 10%.
 

Will a business purchasing tickets still be able to deduct that as an expense?
 







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