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re: What do college athletic boosters get in return for their monies?
Posted on 1/3/24 at 2:36 pm to Bjorn Cyborg
Posted on 1/3/24 at 2:36 pm to Bjorn Cyborg
quote:
a tax write-off?
No, not even that. It's why it's not sustainable long term. No tax deduction and not even a library named after me.
They do get a tax writeoff. You get a tax writeoff if you donate money as long as you don't get anything in return for your donation ie library, etc.
1
Posted on 1/3/24 at 2:46 pm to GeauxBoi
quote:But only if, generally speaking, their total itemized deductions which includes charitable donations for a married couple filing jointly exceed the standard deduction of $27,700 for tax year 2023 or $29,200 for tax year 2024.
They do get a tax write off.
According to Intuit, maker of TurboTax, nearly 90% of taxpayers claim the standard deduction vs. itemized deductions.
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