Re: Team Makers!!!
Originally Posted by
LikeMothers
There was a little bit of discussion earlier in the thread but I wonder how much the increase in standard deduction will affect donations. For many people, their donation will now be coming out of net income instead of gross. Bottom line dollars are the same but many don't see it that way.
For me personally, I'll no longer be able to write off Team Makers donations because I won't be itemizing anymore. I know the effect is the same because of the higher standard deduction, but the donation will just start to feel like less of a bargain or having the added benefit of sticking it to Uncle Sam. I'm not changing my donation but perhaps it'll have an effect on increasing it down the road. It's easy to say you're going to be mathematical and objective about it but everyone's human and decisions are mostly based on emotion.
The donation that is tied to your FB and BB tickets are the only ones effected. Bison Prided, Bison Excellence etc etc will still be deductible so you can still up your donations there. For those that have TM fees that are deductible now but wont be next year you can pay those fees NOW so you right them off on this years taxes.(plus state taxes and real estate taxes)
If we concentrated on the really important stuff in life, there'd be a shortage of fishing poles"
When you play football, you gotta like the taste of blood, And 50 percent of the time, it's your blood.
It is characteristic of the unlearned that they are forever proposing something which is old, and because it has recently come to their own attention, supposing it to be new.
"The best way to get the right answer on the internet is not to ask a question; it's to post the wrong answer."