NDSU Giving Day

[PattyBison]

Cry me a river. How often do you see on this board, give to Teammakers, its tax deductible it's no difference than a company that "buys" advertising.

And again, with the tax deduction concept, if done in a tax advantageous manner, you can make a "gift" to NDSU, teammakers, your church, your favorite rehab center and have it cost you next to nothing.

Excuse me? There is a difference. But you have been exposed as a scam so I'm not playing your games anymore.

It's also quite cute that you are trying to explain the notion of a tax deduction concept to me. If only you knew my background.

Scam away and have a beautiful life.

[PattyBison]

So CAS, let me ask you a question. You are a busy guy, finite amount of time. Potential client comes in offers you $5k retainer. Easy deal. Rep a DUI case, eviction. I don't care. Do you make time to get the project done or you let them walk?

Same deal here. Rep has money to spend today. Ultimately didn't. Didn't want tickets. So in the interim, he has reserved a package available at college world series.

Finite dollars, spent with the program that will take the money.

You really don't know business do you?

[kab1one]

Excuse me? There is a difference. But you have been exposed as a scam so I'm not playing your games anymore.

It's also quite cute that you are trying to explain the notion of a tax deduction concept to me. If only you knew my background.

Scam away and have a beautiful life.

Enlighten to the scam?

About 6 years ago ND established a tax credit for a contribution to a qualified endowment. Which most charitable organizations have ( or non profits).

You donate $5k. North Dakota gives you a $2k credit.

This is in addition to the $5k deduction. 35% tax bracket. So additional savings of $1,750. At this point the $5k deduction is $1,250 out of pocket.

Take step further instead of giving cash, give appreciated asset. I will use Microsoft stock for example. Some people have low tax basis in the stock. In some cases $500, by giving stock instead of cash, you have saved an additional $1,000. ($4,500 of non recognized gain at 22%). So at this point the gift to the endowment cost nothing. Many companys will match the gift. So all of a sudden you can have a 10k endowment for zero.

I understand many don't want to gift to an endowment, many want to funds to go to current obligations. Thus, have the person making the gift, do the endowment and contribute the tax savings. Double whammy.

And I do fine from a business perspective, thank you very much.

[56BISON73]

So CAS, let me ask you a question. You are a busy guy, finite amount of time. Potential client comes in offers you $5k retainer. Easy deal. Rep a DUI case, eviction. I don't care. Do you make time to get the project done or you let them walk?

Same deal here. Rep has money to spend today. Ultimately didn't. Didn't want tickets. So in the interim, he has reserved a package available at college world series.

Finite dollars, spent with the program that will take the money.

This really isnt difficult to figure out. Company A wants to spend money on company B for X. Company B determines providing X isnt worth the money Company A is offering. Both companies walk away.

[PattyBison]

Enlighten to the scam?

About 6 years ago ND established a tax credit for a contribution to a qualified endowment. Which most charitable organizations have ( or non profits).

You donate $5k. North Dakota gives you a $2k credit.

This is in addition to the $5k deduction. 35% tax bracket. So additional savings of $1,750. At this point the $5k deduction is $1,250 out of pocket.

Take step further instead of giving cash, give appreciated asset. I will use Microsoft stock for example. Some people have low tax basis in the stock. In some cases $500, by giving stock instead of cash, you have saved an additional $1,000. ($4,500 of non recognized gain at 22%). So at this point the gift to the endowment cost nothing. Many companys will match the gift. So all of a sudden you can have a 10k endowment for zero.

I understand many don't want to gift to an endowment, many want to funds to go to current obligations. Thus, have the person making the gift, do the endowment and contribute the tax savings. Double whammy.

And I do fine from a business perspective, thank you very much.

I am quite familiar with tax code so you wasted your time. My reference to a scam is "I know a guy who tried to do something with NDSU for football" story.

[kab1one]

This really isnt difficult to figure out. Company A wants to spend money on company B for X. Company B determines providing X isnt worth the money Company A is offering. Both companies walk away.

Company a has $10k and a tent. Wants to put tent in Company B's parking lot. Company be said sold out.


HMMMMM. Looked across street to relatively new parking lot where tennis courts used to be. Could set up more tents to company's a, b, c and etc.


But no. Company B says no space for tent.

Company A walks away.....

Company B thinks they are going to apply for tent space next year......

[PattyBison]

Company a has $10k and a tent. Wants to put tent in Company B's parking lot. Company be said sold out.


HMMMMM. Looked across street to relatively new parking lot where tennis courts used to be. Could set up more tents to company's a, b, c and etc.


But no. Company B says no space for tent.

Company A walks away.....

Company B thinks they are going to apply for tent space next year......

So you wanted reserved tailgating but were told these is a waiting list. You tried to circumvent it with a moderate donation and were told no. So now you are talking your toys and going home. Got it. Thanks for the explanation!

[kab1one]

So you wanted reserved tailgating but were told these is a waiting list. You tried to circumvent it with a moderate donation and were told no. So now you are talking your toys and going home. Got it. Thanks for the explanation!

Which leads to the brilliance of operation. You have an opportunity selling nothing. And u don't capitalize

Not like you have an opportunity cost is renting a space


And the fact they don't have the ability to find more space is moronic. So dont complain about lack of money when you turn away low hanging fruit

[kab1one]

Out of curiosity. When did tennis courts get turned into a parking lot?


I know one game there was free parking there. Why not sell spots there ?

[kab1one]

Oh yeah. They were sold out. So done working for the year