sltom6 Posted June 17, 2007 Share Posted June 17, 2007 I have six tickets in my name that I've shared with five others for many years. In the past, they just made their check payable to me and I wrote one check to SLU. How best to handle this now? Is the tax deduction applicable to just the season ticket holder of record or can each of my buddies take it individually? This may have a slight bearing on whether some of them will be priced out of the new arena and I want to give them the correct information. Thanks. Quote Link to comment Share on other sites More sharing options...
MusicCityBilliken Posted June 17, 2007 Share Posted June 17, 2007 I no accountant but how can you get a deduction when you are actually provided a service (tickets to a game)? Tarheel Quote Link to comment Share on other sites More sharing options...
sltom6 Posted June 17, 2007 Author Share Posted June 17, 2007 The information given was that the separate arena fee was "approximately 80% tax deductible". Quote Link to comment Share on other sites More sharing options...
davidnark Posted June 17, 2007 Share Posted June 17, 2007 I believe the legal position with the tax authorities is that the $450 is the fair market value of the ticket (defendable because that is roughly the current rate charged), and the mandatory "donation" is merely being rewarded with a "thank you" entitling the donor to the privilege of sitting in preferred seating. Quote Link to comment Share on other sites More sharing options...
Clock_Tower Posted June 17, 2007 Share Posted June 17, 2007 I have not read the fine print but my understanding is that the "annual arena fee" has been created to replace membership in the Billiken Club which has now become madatory. If I am correct, this would seem to indicate that you, alone, have a large/expensive membership - not 6 separate memberships. Your membership would appear to result in your receiving some benefit for the "BC membership" -- hence 20% non-deductable and 80% representing a true donation to the school. The sales by SLU is a $400 or $150 forced/mandatory donation in addition to the $450 price of the seat instead of simply raising the price of the seat to $850 - no tax deduction. In any event, I see no legal basis, which would satisfy IRS, to show how your 5 buddies can deduct "their $400 or $150 donation" since nothing is in their name. Would not expect SLU to even have a record of the names and addresses of your 5 buddies, they would not receive mailings and membership card, etc. Possibly, you are your 5 buddies could each write your checks, made payable to SLU, each for $850. You could simply collect them and mail them all in - same envelope, ticket application, etc. Couldn't see SLU sending refusing to accept payment in this form. Then, at least they could show a cancelled check made payable to SLU to the IRS in addition the testimony from the other 5. Quote Link to comment Share on other sites More sharing options...
Major Majerus Posted June 17, 2007 Share Posted June 17, 2007 D1 hoops - the greatest show on earth. Unca CPA speaking here. I share my tickets with several, and SLU has allowed them, under my umbrella, to pay for their tickets separately. Thus, they have a legal trail to the tax deduction. SLU is obligated to send a letter of acknowledgment to everyone who pays for his ticket, if it involves a charitable gift. If a tax client gives me a letter from a religion or charity saying that he has contributed X dollars and it is 80% deductible, then that is good enough for me. A personal example is that I'm a contributing member of the Smithsonian; because that entitles me to a subscription to their excellent magazine, a portion of my annual payment is not deductible; the rest is. This removes a little of the sting for putting out more $$ and is a game played by most, if not all D1 schools. Quote Link to comment Share on other sites More sharing options...
cheeseman Posted June 18, 2007 Share Posted June 18, 2007 Up until now the separate check idea would work because all you were paying for were tix. Now you are not paying for tix only but for the donation. The problem here is that there is only one name on the season tix list and if the school started to except separate checks for the donations and tix then they would be allowing those people who were not Billiken Club members to have access to seats that they technically do not deserve since they do not have a ranking in the club. This is very confusing and needs to be explained by SLU before people are really pissed off. At first I thought the seat donation was in lieu of the Billiken Club membership but when I reread the stuff now I not so sure. Quote Link to comment Share on other sites More sharing options...
Major Majerus Posted June 18, 2007 Share Posted June 18, 2007 D1 hoops - the greatest show on earth. You are right that some of the ticket holders are riding coattails and are not BC members; however, I suspect many are. All members riding my coattails must be members in order to augment my point total - I got 3@ when they joined. To get back to your issue, though, since the school is maintaining that a portion of the increase is a tax deductible donation, all that is required is a list from each season ticket holder as to whom is paying for what tickets. Since the thank you letter will be on a word processor, it's just entering names and addresses and amounts, and much of that will repeat from year to year. Computers have made this stuff easy. Quote Link to comment Share on other sites More sharing options...
Clock_Tower Posted June 18, 2007 Share Posted June 18, 2007 UNCA. Are you saying there probably will be no distinction between a buddy for his ticket and this same buddy paying for his annual arena fee. You think SLU will send an acknowledgement letter thanking him for both his $450 seat purchase as well as his $150 or $400 arena fee each year. Makes sense. As per my prior post, if the buddy paid SLU directly, then a papertrail exists. If the buddy, instead, pays the season ticket holder, then I could see IRS problems. Quote Link to comment Share on other sites More sharing options...
slufanskip Posted June 18, 2007 Share Posted June 18, 2007 this is a problem I have. Do they donate to the Billiken Club or just you? If the answer is just you, why should they get your priority in seating over people who do and have donated to the Billiken Club for years. Official Billikens.com sponsor of H Waldman Official Sponser of the Stemmler and Ahearn could and would have helped club. Quote Link to comment Share on other sites More sharing options...
slufanskip Posted June 18, 2007 Share Posted June 18, 2007 Just curious, if they make their own Billiken Club donation and have been making it, why would they be under your umbrella? The only reason I can think of is that it falsely represents points that are accumulated. Maybe I can find another member who has 6 or less tickets, we can combine our points and move up higher on the list. I apologize if I am misunderstanding. But when I am (and there are many examples that I personally know of) being given a lower priority due to these things it pisses me off. Unless of course I get to come to your house and drink that good wine while watching away games Official Billikens.com sponsor of H Waldman Official Sponser of the Stemmler and Ahearn could and would have helped club. Quote Link to comment Share on other sites More sharing options...
billiken_roy Posted June 18, 2007 Share Posted June 18, 2007 i am not a tax accountant, but i agree with clock tower. it would make sense to me that for the deduction the paper trail would need to exist between the true benefactor and slu not to another private individual. that said, let's say moe, larry, curly and shimp have been sharing four seats for 30 years. everything has been in curly's name and curly has the billiken club points. now larry, shimp, and moe want to create their own billiken club membership, and put their seats in their names, unless curly is willing to split his priority points with the four of them, wont the problem be that curly is at the front of the line and the rest are at the end? there is no chance the four of them are sitting together anymore. imo, that is what should happen, either curly agrees to split his priority points up and moves back in line to be even with the other three, or the other three need to be at the end of the line, or curly keeps it all in his name and the other three are out of luck for the deductions. no way those three should be able to automatically get in line at the front with curly. i guess the other choice is that larry, shimp and moe make a onetime donation that would equal what curly has made over the last 30 years. then they should be allowed to get in line with curly. again, this has been preached by the billiken club was going to happen since the early 90's. too many chose to ignore it and sit with the fat cats without bucking up. cant have the benefits now without paying the price. Quote Link to comment Share on other sites More sharing options...
cheeseman Posted June 18, 2007 Share Posted June 18, 2007 This the point I was making - if the tix were only in one name then that person will get all the benefits from it. Now that the seat donation is a part of the tix purchase and is tax deductible, those who were buying through one person have to be out luck if the ranking means anything. If they are allowed to move up and buy in front of others - they could still buy with the person they always did but not get the donation deduction - who have a ranking in the Club then this will be no different from when Yow made her mistake with the move from Kiel to the old Arena. I think people can devise schemes to get the tax deduction but how do you get around the ranking issue? Until the school explains how this is going to be it is simply a train wreck waiting to happen. At this point I am holding my donations to the Club back - still going to join the Club - until I know how this is going to play out. No point in giving additional money if my good ranking is going to be ignored. By the way do we know for a fact that the seat donation takes the place of paying for membership in the Billiken Club? Quote Link to comment Share on other sites More sharing options...
billiken_roy Posted June 18, 2007 Share Posted June 18, 2007 cheese, why is it a trainwreck waiting to happen? the fans were told for years that the billiken club priority points system would determine seat selection order. those fans that sat in those seats under someone elses name for years had the benefit they didnt deserve. now if they want to maintain that ranking all they need to do is make up the 17 years of not paying. i will be happy to let the new booster that ponies up all that money to surpass my points go ahead. but if that booster thinks they deserve to be in front of me just because they cheated the system for the last 17 years, no no no. if they let that happen, that is the trainwreck. Quote Link to comment Share on other sites More sharing options...
slufanskip Posted June 18, 2007 Share Posted June 18, 2007 but if they still buy the tickets under the other name, just start ponying up the Billiken Club membership through their buddy now, they will still keep their buddy's ranking and pass up your 17 and my 14 years of donating. At least now someone can only get 8. But at long as they keep ponying up through a friend, nothing changes, especially if SLU will take the checks in their name. Official Billikens.com sponsor of H Waldman Official Sponser of the Stemmler and Ahearn could and would have helped club. Quote Link to comment Share on other sites More sharing options...
billiken_roy Posted June 18, 2007 Share Posted June 18, 2007 yes but it will cost them a plenty to have choice seats under this system. 8 seats with a 450 billiken club gift per seat is a lot of money. at least the billiken club will get the gift. and that booster hiding behind the friend risks a lot. if that frontman booster disappears they will be screwed. i believe the billiken club defined the only way priority can be willed or passed off. the truth is that the hidden members of a seat cartel are at risk and it will be at a price as well. the best thing everyone can do is become their own booster and get their own priority account. i believe the seats are going to be reshuffled every 3 years, so starting now to donate in a big way can allow a late coming booster to make significant movement in priority. Quote Link to comment Share on other sites More sharing options...
kappy96 Posted June 18, 2007 Share Posted June 18, 2007 It is my understanding after talking with the Billiken Club office that the "arena fee" or "BC gift" will be counted as your annual membership contribution. If you have been giving $300 to be a Captain's Club level donor and you purchase 2 Red seats with a $150/seat fee, you will not need to give an additional $300 to the BC to maintain your status. Quote Link to comment Share on other sites More sharing options...
Major Majerus Posted June 18, 2007 Share Posted June 18, 2007 D1 hoops - the greatest show on earth. You are misunderstanding; when a new member joins the BC, there is a spot on the sign up sheet where you can list a referral source. That person gets 3 pts added to his ticket account THE YEAR OF THE ORIGINAL JOINING. You don't get them the next year, but those points are a permanent part of your account total. You can come to my house if they decide to televise any away games this year... Quote Link to comment Share on other sites More sharing options...
billiken_roy Posted June 18, 2007 Share Posted June 18, 2007 i agree. the "arena fee" is just the level of billiken club membership that is required. Quote Link to comment Share on other sites More sharing options...
Major Majerus Posted June 18, 2007 Share Posted June 18, 2007 D1 hoops - the greatest show on earth. You raise 2 issues - one, the paper trail - is satisfied with a letter from the receiving institution; no cancelled check is required. 2nd - Mo, Curly et al. In my case, guys joined my group because I already had many pts - wife's an alum, season ticket holder forever, Tipoff club holder forever, many small donations, then BC member. So these guys shared my account total, but when they joined me, there was not nearly the demand for tickets that is going to happen now. Yes, they can start their own accounts, and already have some BC points, and maybe alum pts, but they won't have season ticket pts. It was their choice long ago. If they now pony up 20K to get up to my point total, I have no problem with that, do you? They are also taking the risk that I will predecease them...but they're getting good, cheap tickets in the meantime. While some may think they are riding my coattails unfairly, we just played by the rules in existence. GREAT TIP FOR BUILDING YOUR ACCOUNT: Buy the all sports ticket - it gets you into every sport that charges admission, including Shimmy's show, only costs about $100 extra, and gets 10 BC points rather than what a normal season ticket gets. Quote Link to comment Share on other sites More sharing options...
Major Majerus Posted June 18, 2007 Share Posted June 18, 2007 D1 hoops - the greatest show on earth. You are exactly right - now the "hidden buyers" will have to pay the fee every year. BTW - the guys riding with me kept their seats thru off years and declining attendance - they are real fans. Once when I had two openings, I announced it on this board, telling everyone who wanted 2 good tickets that they could step in. The guy who took advantage was not a BC member nor a follower of this board, but heard about it thru someone who was - maybe Roy - because he has a connection to KL and wanted to follow his career with the Bills. Quote Link to comment Share on other sites More sharing options...
Cowboy Posted June 18, 2007 Share Posted June 18, 2007 -larry, moe and shemp all write a check to slu for tix and fees that they give to curly -curly writes his check and all checks go into the same envelope to pay for the account -why would the U have a problem with this? i don't think they would -the problem becomes if curly dies, what do the others do? are those seats then open? Quote Link to comment Share on other sites More sharing options...
Major Majerus Posted June 18, 2007 Share Posted June 18, 2007 D1 hoops - the greatest show on earth. His widow, if he has one, gets first shot. If she declines, and my wife surely will, they go back into the pot. Quote Link to comment Share on other sites More sharing options...
billiken_roy Posted June 18, 2007 Share Posted June 18, 2007 per this link: http://slubillikens.cstv.com/boosters/stlo...nts-system.html "The privilege to benefit from the priority points is not transferable. An exception is a surviving spouse may continue point privileges for his/her personal use only. The surviving spouse may not transfer points to any other individual." it is time for everyone to become their own booster. no more cartels. Quote Link to comment Share on other sites More sharing options...
Billiken Rich Posted June 18, 2007 Share Posted June 18, 2007 Especially under the new system I wouldn't buy tickets through a middle man. My situation is in sharing the same name with my father, the SLU grad and season ticketholder back to the old kiel days. I've been sponging off his status for the past ten years. It may be self indulgence but I'm guessing the school will do little to ferret out situations like mine. I'd be shocked if they type up tax documents for folks splitting up blocks of tickets though. Quote Link to comment Share on other sites More sharing options...
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