collapse

* Recent Posts

NBA green room by Scoop Snoop
[Today at 08:45:00 AM]


2024 Transfer Portal by tower912
[Today at 08:35:27 AM]


Bill Scholl Retiring by warriorchick
[Today at 08:03:52 AM]


Recruiting as of 6/15/24 by Jockey
[June 15, 2024, 06:14:18 PM]


President Lovell Passes Away by Skatastrophy
[June 15, 2024, 09:14:49 AM]


Media Rights Update by Shooter McGavin
[June 15, 2024, 07:12:21 AM]


Marquette NBA Thread by mileskishnish72
[June 15, 2024, 04:49:35 AM]

Please Register - It's FREE!

The absolute only thing required for this FREE registration is a valid e-mail address.  We keep all your information confidential and will NEVER give or sell it to anyone else.
Login to get rid of this box (and ads) , or register NOW!


Author Topic: President's Budget Eliminates Donation Expense for Tix  (Read 52204 times)

WarhawkWarrior

  • Team Captain
  • ****
  • Posts: 276
President's Budget Eliminates Donation Expense for Tix
« on: February 02, 2015, 06:56:55 PM »
Just read the fine print.  The President's budget proposes eliminating the deduction expense associated with donations required as part of sporting event tickets.  Hope it's dead on arrival.

Edit: politics
« Last Edit: February 02, 2015, 08:56:35 PM by mu_hilltopper »

jesmu84

  • All American
  • *****
  • Posts: 6085
Re: President's Budget Eliminates Donation Expense for Tix
« Reply #1 on: February 02, 2015, 06:58:02 PM »
This is going to go well...

connie

  • All American
  • *****
  • Posts: 1124
Re: President's Budget Eliminates Donation Expense for Tix
« Reply #2 on: February 02, 2015, 07:12:30 PM »
Meh.  Last week he tried to take money from my daughter's college account so he could give money for other kids to go to the University of Phoenix.  This has about as much a chance of going into effect.
"Let's be careful out there."  Phil Esterhaus

mu03eng

  • Registered User
  • All American
  • *****
  • Posts: 5049
    • Scrambled Eggs Podcast
Re: President's Budget Eliminates Donation Expense for Tix
« Reply #3 on: February 02, 2015, 08:04:40 PM »
Take this crap to The Superbar.

Politics aside, it is very relevant to MU basketball.  Timing would suck given how the team has performed the last two years, might get more folks to jump ship.  Though I'd get to move up in the pecking order which would be great
"A Plan? Oh man, I hate plans. That means were gonna have to do stuff. Can't we just have a strategy......or a mission statement."

nathanziarek

  • All American
  • *****
  • Posts: 612
    • Late to the Party
Re: President's Budget Eliminates Donation Expense for Tix
« Reply #4 on: February 02, 2015, 08:45:06 PM »
Politics aside, it is very relevant to MU basketball.  Timing would suck given how the team has performed the last two years, might get more folks to jump ship.  Though I'd get to move up in the pecking order which would be great

I wonder what it'd do. All schools would be affected equally. I have to imagine those first-row donations will have to drop a bit.
Marquette Basketball on Reddit: http://reddit.com/r/mubb

Chicago_inferiority_complexes

  • All American
  • *****
  • Posts: 844
Re: President's Budget Eliminates Donation Expense for Tix
« Reply #5 on: February 02, 2015, 08:46:18 PM »
WOW. This is a deduction? No wonder our country is f'ed up.

And you people actually take the time to deduct it from your taxes?

Unbelievable.

No wonder we have 500,000 loopholes that aren't going anywhere.

GGGG

  • All American
  • *****
  • Posts: 25207
Re: President's Budget Eliminates Donation Expense for Tix
« Reply #6 on: February 02, 2015, 08:55:33 PM »
WOW. This is a deduction? No wonder our country is f'ed up.

And you people actually take the time to deduct it from your taxes?

Unbelievable.

No wonder we have 500,000 loopholes that aren't going anywhere.


You can deduct 80% of the required donation to buy tickets.  You can't deduct the cost of the tickets.

Chicago_inferiority_complexes

  • All American
  • *****
  • Posts: 844
Re: President's Budget Eliminates Donation Expense for Tix
« Reply #7 on: February 02, 2015, 09:06:09 PM »

You can deduct 80% of the required donation to buy tickets.  You can't deduct the cost of the tickets.

So stupid. Wow.

GGGG

  • All American
  • *****
  • Posts: 25207
Re: President's Budget Eliminates Donation Expense for Tix
« Reply #8 on: February 02, 2015, 09:09:59 PM »
So stupid. Wow.


What is stupid?  The fact that you can deduct 80%?  You can't deduct 20%?  Or just the entire thing?

Because if you think this is a goofy loophole, you haven't seen anything yet.

ChicosBailBonds

  • Registered User
  • All American
  • *****
  • Posts: 22695
  • #AllInnocentLivesMatter
    • Cracked Sidewalks
Re: President's Budget Eliminates Donation Expense for Tix
« Reply #9 on: February 02, 2015, 09:51:26 PM »
So stupid. Wow.

Please, tell us why it is stupid.  You do realize what that 80% goes for....right?

I look forward to hearing why this is stupid....especially since you've been paying taxes for at least 30 years I'll bet (heavy sarcasm).

Chicago_inferiority_complexes

  • All American
  • *****
  • Posts: 844
Re: President's Budget Eliminates Donation Expense for Tix
« Reply #10 on: February 02, 2015, 10:06:45 PM »
Naturally, the guy who makes his living off of entertainment thinks that entertainment expenses should be tax deductible.

ChicosBailBonds

  • Registered User
  • All American
  • *****
  • Posts: 22695
  • #AllInnocentLivesMatter
    • Cracked Sidewalks
Re: President's Budget Eliminates Donation Expense for Tix
« Reply #11 on: February 02, 2015, 10:15:40 PM »
Naturally, the guy who makes his living off of entertainment thinks that entertainment expenses should be tax deductible.

Here's your chance to show us why it is stupid....this particular deduction.  Again, here is your chance......

Chicago_inferiority_complexes

  • All American
  • *****
  • Posts: 844
Re: President's Budget Eliminates Donation Expense for Tix
« Reply #12 on: February 02, 2015, 10:20:11 PM »
I guess my answer was too subtle for you. Entertainment should not be tax deductible.

On which issues exactly are you conservative?

mu_hilltopper

  • Warrior
  • Global Moderator
  • All American
  • *****
  • Posts: 7424
    • https://twitter.com/nihilist_arbys
Re: President's Budget Eliminates Donation Expense for Tix
« Reply #13 on: February 02, 2015, 10:32:08 PM »
I guess my answer was too subtle for you. Entertainment should not be tax deductible.

On which issues exactly are you conservative?

The cost of the tickets = entertainment and not deductible.

The optional donations made to the scholarship fund = 80% deductible.

ChicosBailBonds

  • Registered User
  • All American
  • *****
  • Posts: 22695
  • #AllInnocentLivesMatter
    • Cracked Sidewalks
Re: President's Budget Eliminates Donation Expense for Tix
« Reply #14 on: February 02, 2015, 11:05:19 PM »
I guess my answer was too subtle for you. Entertainment should not be tax deductible.

On which issues exactly are you conservative?

It is clear by your answer you do not comprehend what is deductible and what isn't.  Not surprising, but I did give you two chances.  I think you may want to go back and try again.


On what issues am I conservative....I don't believe in abortion.  I believe in national sovereignty.  Meritocracy.  Strong military.  States rights.  Empowering the individual.     But it's not that simple or that black and white, there are nuances with all of those issues.  I have liberal beliefs on some issues (stem cells, euthanasia in some cases, etc) and a number of libertarian beliefs (privacy, war on terror, etc).

NavinRJohnson

  • Registered User
  • All American
  • *****
  • Posts: 4209
Re: President's Budget Eliminates Donation Expense for Tix
« Reply #15 on: February 03, 2015, 07:20:43 AM »
WOW. This is a deduction? No wonder our country is f'ed up.

And you people actually take the time to deduct it from your taxes?

Unbelievable.

No wonder we have 500,000 loopholes that aren't going anywhere.

It appears what we have here is a guy that 1) Deosnt buy season tickets; 2) doesn't make charitable contributions; and 3) doesn't pay taxes, as he clearly doesn't understand how any of this works, yet believes it is "stupid."

g0lden3agle

  • All American
  • *****
  • Posts: 1046
Re: President's Budget Eliminates Donation Expense for Tix
« Reply #16 on: February 03, 2015, 07:53:28 AM »
It appears what we have here is a guy that 1) Deosnt buy season tickets; 2) doesn't make charitable contributions; and 3) doesn't pay taxes, as he clearly doesn't understand how any of this works, yet believes it is "stupid."

+1

Also- IN BEFORE THE LOCK

Chicago_inferiority_complexes

  • All American
  • *****
  • Posts: 844
Re: President's Budget Eliminates Donation Expense for Tix
« Reply #17 on: February 03, 2015, 08:17:42 AM »
The payments you make above and beyond your actual sticker prices for your season tickets, in the form of "optional" donations, absolutely should not be tax deductible. Just pathetic that anyone would argue to the contrary.

g0lden3agle

  • All American
  • *****
  • Posts: 1046
Re: President's Budget Eliminates Donation Expense for Tix
« Reply #18 on: February 03, 2015, 08:18:44 AM »
The payments you make above and beyond your actual sticker prices for your season tickets, in the form of "optional" donations, absolutely should not be tax deductible. Just pathetic that anyone would argue to the contrary.

Should charitable contributions be tax deductible?  How is an optional donation any different?

The doors closing, get the response in quick!!!!

Chicago_inferiority_complexes

  • All American
  • *****
  • Posts: 844
Re: President's Budget Eliminates Donation Expense for Tix
« Reply #19 on: February 03, 2015, 08:19:42 AM »
Again, money you are paying to enhance your seating at the Bradley Center is not going to a charity. It's going towards your personal entertainment dollars. This isn't hard.

Chicago_inferiority_complexes

  • All American
  • *****
  • Posts: 844
Re: President's Budget Eliminates Donation Expense for Tix
« Reply #20 on: February 03, 2015, 08:23:04 AM »
It took Obama six plus years, but he finally has me agreeing with him on something.

The only way we're going to get our federal budget in line is eliminating the ridiculous deductions like these, even if it causes some heartburn among the sweater vests on Scoop.

I hope he comes after your mortgage interest deduction next.

g0lden3agle

  • All American
  • *****
  • Posts: 1046
Re: President's Budget Eliminates Donation Expense for Tix
« Reply #21 on: February 03, 2015, 08:25:09 AM »
Again, money you are paying to enhance your seating at the Bradley Center is not going to a charity. It's going towards your personal entertainment dollars. This isn't hard.

http://www.gomarquette.com/bluegold-fund/about-bgf-goals.html

Your donation is going towards the funding of athletic scholarships. That's a charitable contribution.

g0lden3agle

  • All American
  • *****
  • Posts: 1046
Re: President's Budget Eliminates Donation Expense for Tix
« Reply #22 on: February 03, 2015, 08:26:40 AM »
It took Obama six plus years, but he finally has me agreeing with him on something.

The only way we're going to get our federal budget in line is eliminating the ridiculous deductions like these, even if it causes some heartburn among the sweater vests on Scoop.

I hope he comes after your mortgage interest deduction next.

Didn't realize federal budget was a single variable equation.....

jficke13

  • All American
  • *****
  • Posts: 1375
Re: President's Budget Eliminates Donation Expense for Tix
« Reply #23 on: February 03, 2015, 08:26:54 AM »
Again, money you are paying to enhance your seating at the Bradley Center is not going to a charity. It's going towards your personal entertainment dollars. This isn't hard.

I think the Blue and Gold Fund would disagree with your characterization of it as "not a charity"

Chicago_inferiority_complexes

  • All American
  • *****
  • Posts: 844
Re: President's Budget Eliminates Donation Expense for Tix
« Reply #24 on: February 03, 2015, 08:27:35 AM »
You're playing semantics. The reason that people make a donation is to get better seating at the Bradley Center. Your seating selection is not a charity.