Stadium Default - Tax Bill

When I donated and when I stopped donating had nothing to do with deductions.

The rich need to pay their share is what I'm hearing
 
When I donated and when I stopped donating had nothing to do with deductions.

The rich need to pay their share is what I'm hearing
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Not even saying I disagree with it, just wondering how much this is going to fuck up season tickets next year. Tickets that cost $500 plus a mandatory $750 donation are now $600 more expensive since the $750 is no longer deductible.
 
Question is, can you still deduct it on your business? Does this only end for your personal return? Most people I know run husky tickets through their business. Same with Seahawks and Mariners.
 
@CirrhosisDawg doesn't get to write off all of his golden state tax anymore either. Soak the rich baby!
 
Looks like Row Boat won't be getting my $100.00 annual donation this year. Helps CAL IMO.

 
Question is, can you still deduct it on your business? Does this only end for your personal return? Most people I know run husky tickets through their business. Same with Seahawks and Mariners.
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I'm not an accountant, but if the business buys the tickets with the purpose of taking clients to games, I don't see why businesses can't deduct the proportion used for clients. I could be wrong...
 
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@CirrhosisDawg doesn't get to write off all of his golden state tax anymore either. Soak the rich baby!
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True. We do get to keep $10k property tax, mortgage interest, child and charity credits though. $200k gross or so looks like break even if you can take a healthy bight out of these deductions.

It could have been a lot worse given what was proposed...
 
@CirrhosisDawg doesn't get to write off all of his golden state tax anymore either. Soak the rich baby!
Click to expand...

True. We do get to keep $10k property tax, mortgage interest, child and charity credits though. $200k gross or so looks like break even if you can take a healthy bight out of these deductions.

It could have been a lot worse given what was proposed...
Click to expand...

My taxable income will be $8k higher but taxed at a lower rate so I will save some money on the final package, mostly the child tax credit increase.
 
When I donated and when I stopped donating had nothing to do with deductions.

The rich need to pay their share is what I'm hearing
Click to expand...

If the program is winning, nobody gives a shit about deductions. It's only going to hurt shitty programs, so maybe Husky basketball, but football will be fine.
 
since I am poor and no nothing about finances I will find a way to juggle the books like I do every year. no impact here
 
@CirrhosisDawg doesn't get to write off all of his golden state tax anymore either. Soak the rich baby!
Click to expand...

True. We do get to keep $10k property tax, mortgage interest, child and charity credits though. $200k gross or so looks like break even if you can take a healthy bight out of these deductions.

It could have been a lot worse given what was proposed...
Click to expand...

My taxable income will be $8k higher but taxed at a lower rate so I will save some money on the final package, mostly the child tax credit increase.
Click to expand...

Nobody cares about the hypothetical family you’re choosing to be today.
 
@CirrhosisDawg doesn't get to write off all of his golden state tax anymore either. Soak the rich baby!
Click to expand...

True. We do get to keep $10k property tax, mortgage interest, child and charity credits though. $200k gross or so looks like break even if you can take a healthy bight out of these deductions.

It could have been a lot worse given what was proposed...
Click to expand...

My taxable income will be $8k higher but taxed at a lower rate so I will save some money on the final package, mostly the child tax credit increase.
Click to expand...

Nobody cares about the hypothetical family you’re choosing to be today.
Click to expand...

Sounds like you care.
 
Question is, can you still deduct it on your business? Does this only end for your personal return? Most people I know run husky tickets through their business. Same with Seahawks and Mariners.
Click to expand...

I'm not an accountant, but if the business buys the tickets with the purpose of taking clients to games, I don't see why businesses can't deduct the proportion used for clients. I could be wrong...
Click to expand...

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When I donated and when I stopped donating had nothing to do with deductions.

The rich need to pay their share is what I'm hearing
Click to expand...

Not even saying I disagree with it, just wondering how much this is going to fuck up season tickets next year. Tickets that cost $500 plus a mandatory $750 donation are now $600 more expensive since the $750 is no longer deductible.
Click to expand...

You seem to need some help. A deduction from your taxes simply makes that money non-taxable. So a $750 donation, where $600 was previously non-taxable, does not cost you $600; it costs you the taxes you would owe on the $600. Unless your are FS, you are not paying 100% of your income to the federal government, so, at most, you are probably losing $200 at a 33.33% tax rate ... suggesting your make approx half a million per year.
That being said I don't think that is your tax bracket. HTH.

All that being said ... everyone who thinks they are saving money with this tax bill is going to be surprised in a couple of years when the rates revert and they have lost a good portion of their deductions.
 
@CirrhosisDawg doesn't get to write off all of his golden state tax anymore either. Soak the rich baby!
Click to expand...

True. We do get to keep $10k property tax, mortgage interest, child and charity credits though. $200k gross or so looks like break even if you can take a healthy bight out of these deductions.

It could have been a lot worse given what was proposed...
Click to expand...

You sound poor.

 
@CirrhosisDawg doesn't get to write off all of his golden state tax anymore either. Soak the rich baby!
Click to expand...

True. We do get to keep $10k property tax, mortgage interest, child and charity credits though. $200k gross or so looks like break even if you can take a healthy bight out of these deductions.

It could have been a lot worse given what was proposed...
Click to expand...

My taxable income will be $8k higher but taxed at a lower rate so I will save some money on the final package, mostly the child [/b]tax credit increase.
Click to expand...

Say it isn't so.

Poor kid never had a chance
 
I'm hearing big deals get done at UW vs Cal.
 
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