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Stadium Default - Tax Bill

UWhuskytskeet
UWhuskytskeet Member Posts: 7,113
in Tug Tavern
That's going to fuck up donations bigly. Do they just raise ticket prices proportionally?


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Comments

  • RaceBannon
    RaceBannon Member, Moderator, Swaye's Wigwam Posts: 115,638 Founders Club
    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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  • UWhuskytskeet
    UWhuskytskeet Member Posts: 7,113
    RaceBannon said:

    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

    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.
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  • 2001400ex
    2001400ex Member Posts: 29,457
    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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  • RaceBannon
    RaceBannon Member, Moderator, Swaye's Wigwam Posts: 115,638 Founders Club
    @CirrhosisDawg doesn't get to write off all of his golden state tax anymore either. Soak the rich baby!
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  • YellowSnow
    YellowSnow Moderator, Swaye's Wigwam Posts: 37,728 Founders Club
    Looks like Row Boat won't be getting my $100.00 annual donation this year. Helps CAL IMO.

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  • greenblood
    greenblood Member Posts: 14,566
    edited December 2017
    2001400ex said:

    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.

    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
    CirrhosisDawg Member Posts: 6,390
    RaceBannon said:

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

    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...
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  • 2001400ex
    2001400ex Member Posts: 29,457
    CirrhosisDawg said:

    RaceBannon said:

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

    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...
    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.
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  • LebamDawg
    LebamDawg Member, Swaye's Wigwam Posts: 8,844 Swaye's Wigwam
    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
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