Team Maker Dues and contributions

[56BISON73]

I tend to think the bigger dollar donors want every benefit from the gift they can get. So a 10k donation is worth 3k deduction to the donor.

I agree........

[GCWaters]

With the standard deduction for married couples goes up to $24K, we will be a long way from needing to itemize deductions.

But you’re losing your personal exemptions....if you have more than one kid, your taxable income actually goes up, though your marginal rate should go down....


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[gumby013]

Simmers just sent out an email on this.

Paid my 2018 amount now. Single, so I’ll be itemizing. Might as well get the deduction while I can.

[Wally]

Dont for get to pre pay local and state taxes and your property taxes in advance as well.

https://www.washingtonpost.com/local...0a3_story.html

[CVOLK]

Paid my 2018 Teammaker dues for both Mens BBall and Football yesterday in advance to take advantage of itemization one last time.

[kab1one]

A portion of the e mail sent from NDSU

NDSU Season Ticket Holder:
With recent news of a new federal tax bill going into effect, we are reaching out to you, a NDSU season ticket holder, to inform you that this tax reform may have an impact on your yearly tax deductions as it pertains to your payment of seat dues. As for the new tax implications on seat dues, the “80/20 rule” will no longer be an option for tax payers as a deduction. The “80/20 rule” allowed season ticket holders to write off 80% of charitable contributions attached to event tickets. Under the new federal tax law, that 80% deduction will no longer be an option.
NDSU Athletics advises you to consult a tax professional about the possible implications to your situation as it pertains to deductions and seat dues.

I actually found this very pro active from the organizations standpoint. Each person is different, but the answer I am giving my client is to pre pay if you can.

[BisonHorns]

I think people on the waiting list for tickets will be getting calls next year. Some people are going to let their tickets go now that they can't use it as a write off.

[kab1one]

https://www.washingtonpost.com/local...0a3_story.html

North Dakota is different than what is noted in the article as you pay 2017 taxes in 2018 typically, so by paying your property taxes in December you are paying 2017 taxes. The Post article was referencing pre paying 2018 taxes. Which will be disallowed according to this.

Minnesota, I don't believe Clay county lets you pre pay taxes, but the star tribune had an article discussing this, so maybe you can.

[Bison"FANatic"]

I suspect Teammakers will feel this next year. There will be some of our donation above and beyond seat fee that will be able to be matched with Company matching funds but not as much as they will not be able to match the 80% or the ticket portion. So overall our donation will be going down next year because if we have to put more of our own money in we will actually be choosing to give to a different charity above and beyond what we now give to Teammakers now. Do I agree with this? Yes actually I do, it is going to hurt some but the Federal government should not be in the business of subsidizing college athletic tickets.

[Twentysix]

I suspect Teammakers will feel this next year. There will be some of our donation above and beyond seat fee that will be able to be matched with Company matching funds but not as much as they will not be able to match the 80% or the ticket portion. So overall our donation will be going down next year because if we have to put more of our own money in we will actually be choosing to give to a different charity above and beyond what we now give to Teammakers now. Do I agree with this? Yes actually I do, it is going to hurt some but the Federal government should not be in the business of subsidizing college athletic tickets.

This hurts us, but I agree with you. The federal government should not be subsidizing university sports programs. How that ever started is beyond me.

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