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Post by OSUprof on May 27, 2019 13:30:51 GMT -8
Thanks for info prof. Hopefully were not headed back to the dark ages of the 70s and 80s of half empty stadiums. If season ticket sales are indeed at around 10,000 for 2019, that is a loss of 5,000 from the year before...Ouch. Where as it took 5 years to lose 10,000 season ticket holders, we may lose 5,000 in one year? Why so many people jumping ship after just one year of the JS era? There must be a significant amount of pressure in the Athletic Dept. to get things moving in the right direction or things could get really ugly. Season ticket sales have been declining at the rate of about 2000 per year. These losses were mostly the result of late career dissatisfaction with Coach Riley, being sold a pile of crap with Andersen, and dislike of the Pac-12 scheduling. Some fans have also given up their season tickets or not renewed them because they are in a "wait and see" mode with Coach Smith. They wish him well but not enough to spend their money on tickets.
The projected drop of 5000 from 2018 to 2019 is partly due to the "wait and see" types, but much of that loss in tickets is due to the change in tax law. For the 2018 season, some had paid their donations forward at the end of 2017 to receive the 80% tax deductible benefit. Now that is no longer possible, the corporate "fans" are jumping ship. For individuals in the season ticket level salary range, the tax changes are mostly a wash except for some of the singles.
Either way, season ticket holders dropping their support because of changes in tax law were likely not very good fans of the program to begin with.
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zzufrevaeb
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Post by zzufrevaeb on May 27, 2019 14:02:34 GMT -8
Thanks for info prof. Hopefully were not headed back to the dark ages of the 70s and 80s of half empty stadiums. If season ticket sales are indeed at around 10,000 for 2019, that is a loss of 5,000 from the year before...Ouch. Where as it took 5 years to lose 10,000 season ticket holders, we may lose 5,000 in one year? Why so many people jumping ship after just one year of the JS era? There must be a significant amount of pressure in the Athletic Dept. to get things moving in the right direction or things could get really ugly. Again, no more write-off's on your donations. Quite a few of the big-wigs and corporations have stopped donating. OSU hasn't figured out how to "get around" this while at least 60% of the rest of the NCAA have.
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Post by orangeattack on May 27, 2019 14:21:46 GMT -8
Thanks for info prof. Hopefully were not headed back to the dark ages of the 70s and 80s of half empty stadiums. If season ticket sales are indeed at around 10,000 for 2019, that is a loss of 5,000 from the year before...Ouch. Where as it took 5 years to lose 10,000 season ticket holders, we may lose 5,000 in one year? Why so many people jumping ship after just one year of the JS era? There must be a significant amount of pressure in the Athletic Dept. to get things moving in the right direction or things could get really ugly. Again, no more write-off's on your donations. Quite a few of the big-wigs and corporations have stopped donating. OSU hasn't figured out how to "get around" this while at least 60% of the rest of the NCAA have. Another day, but the same old song
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Post by Henry Skrimshander on May 27, 2019 15:28:40 GMT -8
Thanks for info prof. Hopefully were not headed back to the dark ages of the 70s and 80s of half empty stadiums. If season ticket sales are indeed at around 10,000 for 2019, that is a loss of 5,000 from the year before...Ouch. Where as it took 5 years to lose 10,000 season ticket holders, we may lose 5,000 in one year? Why so many people jumping ship after just one year of the JS era? There must be a significant amount of pressure in the Athletic Dept. to get things moving in the right direction or things could get really ugly. Again, no more write-off's on your donations. Quite a few of the big-wigs and corporations have stopped donating. OSU hasn't figured out how to "get around" this while at least 60% of the rest of the NCAA have. So, how do you circumnavigate the new (stupid) tax laws? Praytell.
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Post by spudbeaver on May 27, 2019 16:08:10 GMT -8
I’m curious myself. For a friend of course...
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Post by ag87 on May 27, 2019 16:20:54 GMT -8
Again, no more write-off's on your donations. Quite a few of the big-wigs and corporations have stopped donating. OSU hasn't figured out how to "get around" this while at least 60% of the rest of the NCAA have. So, how do you circumnavigate the new (stupid) tax laws? Praytell. Lie on your taxes and hope not to get audited?
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Post by OSUprof on May 27, 2019 16:47:40 GMT -8
So, how do you circumnavigate the new (stupid) tax laws? Praytell. Lie on your taxes and hope not to get audited? Even at OSU, there is a work around. Let's say that you donated $10,000 per year prior to the change in tax law. If one donated $2,000, you could still retain season tickets, but they would be in a different location in the stadium and your post-tax change cost would remain the same.
The law eliminated the use of tax deductible donations for receiving seating priority in the stadium. Fans can still donate to the athletic scholarship fund and receive 100% tax deduction on their donation. But the donation can no longer be tied to seating priority.
These loopholes seem to be a decoupling of monetary donation values and seating priority. Institutions are allocating seating priority tied to a point system that is not based on donation levels although the treasury department is examining these work around approaches. Parking priority might be treated as a separate matter under the law and might be allocated according to donations to the scholarship fund. I'm not a CPA or tax attorney so take my views for what they are worth.
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Post by Henry Skrimshander on May 27, 2019 18:23:30 GMT -8
In other words, someone "fixed" something that wasn't a problem.
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Post by biggieorange on May 28, 2019 7:48:37 GMT -8
Again, no more write-off's on your donations. Quite a few of the big-wigs and corporations have stopped donating. OSU hasn't figured out how to "get around" this while at least 60% of the rest of the NCAA have. So, how do you circumnavigate the new (stupid Republican) tax laws? Praytell. give credit where it is due
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Post by beavs6 on May 28, 2019 7:54:02 GMT -8
So, how do you circumnavigate the new (stupid Republican) tax laws? Praytell. give credit where it is due Take it to the politics board.
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rafer
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Post by rafer on May 28, 2019 9:14:25 GMT -8
So, how do you circumnavigate the new (stupid Republican) tax laws? Praytell. give credit where it is due Another way to look at it for those that are open minded: the new tax hikes (stupid Democrat) the state legislature and Governor want to add to corporations, wealth, etal, may have something to do with it also. There are no righteous sides to this FUBAR, blame enough to go around several times.
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zzufrevaeb
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Post by zzufrevaeb on May 28, 2019 9:53:42 GMT -8
Lie on your taxes and hope not to get audited? Even at OSU, there is a work around. Let's say that you donated $10,000 per year prior to the change in tax law. If one donated $2,000, you could still retain season tickets, but they would be in a different location in the stadium and your post-tax change cost would remain the same.
The law eliminated the use of tax deductible donations for receiving seating priority in the stadium. Fans can still donate to the athletic scholarship fund and receive 100% tax deduction on their donation. But the donation can no longer be tied to seating priority.
These loopholes seem to be a decoupling of monetary donation values and seating priority. Institutions are allocating seating priority tied to a point system that is not based on donation levels although the treasury department is examining these work around approaches. Parking priority might be treated as a separate matter under the law and might be allocated according to donations to the scholarship fund. I'm not a CPA or tax attorney so take my views for what they are worth.
Parking priority is where a few big people are "walking" away from. "But you qualify for X amount of spots in this lot!" "I don't need it and don't assign it to me".
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zzufrevaeb
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Post by zzufrevaeb on May 28, 2019 9:54:36 GMT -8
Again, no more write-off's on your donations. Quite a few of the big-wigs and corporations have stopped donating. OSU hasn't figured out how to "get around" this while at least 60% of the rest of the NCAA have. So, how do you circumnavigate the new (stupid) tax laws? Praytell. it's not you or me, it's the university's problem to fix.
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zzufrevaeb
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Post by zzufrevaeb on May 28, 2019 9:55:32 GMT -8
give credit where it is due Another way to look at it for those that are open minded: the new tax hikes (stupid Democrat) the state legislature and Governor want to add to corporations, wealth, etal, may have something to do with it also. There are no righteous sides to this FUBAR, blame enough to go around several times. I can't say that has zero to do with it, but it's fairly close to zero. Prof explained it perfectly.
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Post by Henry Skrimshander on May 28, 2019 10:44:14 GMT -8
So, how do you circumnavigate the new (stupid Republican) tax laws? Praytell. give credit where it is due Please don't edit words into my posts.
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