For Razorback Foundation Contributors

Will proposed tax legislation that eliminates the tax deduction for such contributions affect your plans for future donations?

Not sure about what I will do yet, but I bet it will affect contribution levels of many. No wonder this tax legislation polls least popular at a 32% approval rate.

We need to see how, if it passes, it will individuall affect us.

It polls much higher when you tell someone it came from Prez Obama. People have no idea what is in it they just know it came from the current Prez so it must be bad.

Yes, with the tax cuts, we will keep more of our money to so spend on ball games, charitable contributions, etc.

Hopefully, this won’t turn into a political debate. I just wanted to see how Hog Fans feel.

Btw, I’ll keep making my donation.

I don’t have enough deductions to itemize so it doesn’t affect me. I may not be able to donate or buy tickets next year (hoping but uncertain) but the tax issue won’t be the determining factor.

Well I’m not too happy about any of it.

I stand to lose my deductions AND get pushed into a higher tax bracket.

Double whammy

From my research into it, id be able to increase my donations.

The tax plan would increase my income nicely.

The notion about who is proposing it and the opinion of it due to that, is dead on.
Comprehensive tax reform is much needed and has been for years. Yes we lose some deductions, but it’s off set nicely, looks like a win.

It won’t affect me. If I didn’t have some income from a trust, I could file using the EZ form.

From what I’ve gleaned, you may be able to take the standard deduction and also use the charitable on top of that. The new tax plan being offered increases the standard deduction double from what it was and some people will benefit by not having to do all the tracking for property taxes, income taxes donations, etc. I guess what it comes down to is “charitable contributions” should be for altruistic purposes not dependent on tax benefits. So far, I’m keeping my donations to keep my seats for my kids and grandkids. Don’t want to sound “preachy here” but, should you donate to any cause just because of a tax break?

Me too, brother!!!

Not exactly the kind of tax cut I was hoping for.

Most definitely! I have 13 season tickets that I get a nice “donation” deduction for. I will not continue to spend that kind of $ if I do not get the tax benefit.

If you want to make your 2018 contribution in 2017, you can do so. That way you can write it off one more time.

I did it by making a two minute call to the Foundation. 479-443-9000. Obviously, you need to do it before January 1.

[quote=“Southpaw”]

If you want to make your 2018 contribution in 2017, you can do so. That way you can write it off one more time.

I did it by making a two minute call to the Foundation. 479-443-9000. Obviously, you need to do it before January 1.

[/quote]You can also make you contribution on-line, should you choose to do so.

I suspect a lot of y’all complaining about losing that deduction also voted for the people who are taking it away so they can give that money to billionaires.

By the way, and I did not know this until today, the new tax bill also charges colleges who pay coaches more than $1 million a 21-percent excise tax, and this tax would also apply to parachute payments like the one BB is about to get. So UA will get hit along with many of its boosters.

<LINK_TEXT text=“http://www.newsobserver.com/news/politi … 21014.html”>http://www.newsobserver.com/news/politics-government/politics-columns-blogs/under-the-dome/article190121014.html</LINK_TEXT>

After learning about the bill, my conclusion is that it will hurt non-profits such as Goodwil, Alzheimer’s Association, etc,. but it won’t hurt the Razorback Foundation. Simply because donation to the foundation earns you the right to the tickets. Most will pay whatever they have to for the tickets.That is not the case with the other non-profits. And yes it looks like a win, but only for the wealthy. If you are making less than $100K, tax cut is at the most $90 per month.

With the way the stock market is booming, a lot of people will have extra money for non-profits and the Razorback Foundation. :smiley:

It definitely does not only benefit those making more than 100k.

A family with around a 70k a year income is looking at 2500 more annually saved on their taxes.

I don’t want to get political because that’s the rules. But look into it, and sure don’t believe what you see on CNN or MSNBC, they’d do anything to make sure a republican administration gets zero credit for anything.

You shouldn’t be donating for write offs in my mind, so that deduction take away isn’t a big deal.

Just for clarification:
Goodwill Industries is NOT a non-profit.
This is a common misconception.
The founder, owner, CEO, President, whatever he is is a multi-millionaire.
He has a business oriented to lower income folks.
But he is making a huge profit.
Think about it. Everything they sell is donated. No acquisition costs. Low overhead.
Genius idea. And it has helped that people donating do think it is non-profit.

Football season ticket sales have fallen nationally for seven years in a row as more people become content to watch the games on TV and splurge for one or two big games per year. The demand for season tickets is not what it once was, and that includes for teams that win.