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Clickclack

Giving Tusday

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Nice. Some of it can be used to replace what coach broke in the basketball locker room after tonights game!

HA! GOT EM!

 

Good job for those who donated.

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Reminder, today is Giving Tuesday...I just gave split between General Athletics and Danial Barnes Memorial Fund.

 

Link here... https://www.alumni.albany.edu/s/1642/giving/index.aspx?sid=1642&gid=2&pgid=1000

 

Whatever you can do, small or big, partial plans are available etc.

 

We all love UA sports and the school overall...it takes some bucks to make UAlbany GREAT!

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Id prefer to give to a stadium fund. I wish that was an option

You can give to whatever you want. Just let Casey or Justin now where you want to money to go. I'm sure they'll accommodate you.

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In terms of real cash pennies, how much does the charitable deduction of a seat actually help on

the IRS bill?

Edited by uofalbany

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.35

 

And not even a bag of peanuts!? Pshh...lammmeeeee.

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$200 in giving for 4 basketball seats, times 0.8 = $160 tax deduction.

 

What that means to you will be determined by your tax bracket. If you are in a 30% bracket, that means you save $48 on your federal tax liability with the current system.

 

I'd you don't have enough deductions to itemize instead of using the standard deduction, then the change probably won't effect you at all.

 

I'm not an expert on the new system, but as I understand it many of the deductions many of us use will go away, but the brackets are wider with lower percentages. Most people will have a lower tax burden, but the higher income earners will see a higher savings in pure dollars. The percentages of savings is a difference story.

 

I don't want to get political on this site, but here is an amusing video to watch that explains that point on how the tax plan will be spun in terms most sports fans understand. BEER!

 

 

 

Video is old and has nothing to do with the Trump tax plan.

Edited by godanesgo99
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$200 in giving for 4 basketball seats, times 0.8 = $160 tax deduction.

 

What that means to you will be determined by your tax bracket. If you are in a 30% bracket, that means you save $48 on your federal tax liability with the current system.

 

I'd you don't have enough deductions to itemize instead of using the standard deduction, then the change probably won't effect you at all.

 

I'm not an expert on the new system, but as I understand it many of the deductions many of us use will go away, but the brackets are wider with lower percentages. Most people will have a lower tax burden, but the higher income earners will see a higher savings in pure dollars. The percentages of savings is a difference story.

 

I don't want to get political on this site, but here is an amusing video to watch that explains that point on how the tax plan will be spun in terms most sports fans understand. BEER!

 

 

 

Video is old and has nothing to do with the Trump tax plan.

 

Are those two drinking for free with the S on the shirt from $iena?

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