1890. That time of year

[HBK4life]

 

[HBK4life]

 

[st3f0]

I'll donate if Matt Rhule donates his $2M bonus for the upcoming season.

 

[scarletred]

I'll donate if Matt Rhule donates his $2M bonus for the upcoming season.

Go away dork.

 

[drubendall]

Was not aware scooters coffee sponsored a bowl. They could certainly kick into the collective.

 

[Dean Pope]

I'll donate the same as Buffett.

Elon has four times the money Buffett has. Let that sink in. There's a reason that he can give $1 million to anybody he wishes for whatever he wants them to do.

 

[Dean Pope]

how can you sit there and watch NU win only 6 games ?

donate now!!!

Last time I donated, I'm pretty sure the money was funneled straight to Erik Gilbert.

 

[Dean Pope]

Ummmm....you only get about 20 cents on the dollar. Make a political contribution that you can't deduct and it might get you tax free tax credits for a wind tower or carbon pipeline....

I didn't realize that it wasn't a dollar for dollar deduction. So to clarify, what's the deduction for giving money to an athletic slush fund as opposed to donating to a politician or PAC?

 

[Dean Pope]

Yes to this. I have been gifting my kids money to pay off college debt (now that we actually have some) the last couple of years and would love to be able to write if off. Still doubt I can but I'm all ears.

I believe the gift limit to an individual is up to $18,000 a year. If it's a gift, your kids may have to report it on their taxes (not sure) but it won't count as income. And it's highly unlikely that the IRS would ever look into it or penalize anyone unless it gets into millions a year.

 

[cavalot]

I didn't realize that it wasn't a dollar for dollar deduction. So to clarify, what's the deduction for giving money to an athletic slush fund as opposed to donating to a politician or PAC?

No, donations to a political candidate, political party, or political action committee (PAC) are not tax-deductible under U.S. tax law. The IRS explicitly prohibits deducting contributions made for political purposes, even if the donation is intended to support policies or issues you care about.

Key Points:​

1. Non-Deductible Contributions:
   • Donations to political candidates, campaigns, or organizations, including:
     • Political parties (e.g., Democratic, Republican).
     • Political action committees (PACs) or Super PACs.
     • Individual political candidates' campaigns.
   • Examples include money given directly to campaigns, purchasing tickets to fundraisers, or paying for political ads.
2. Deductible Donations:
   • Donations to 501(c)(3) nonprofit organizations that focus on education, public service, or advocacy of non-political issues may be tax-deductible. These organizations cannot endorse or campaign for candidates.
   • Example: Contributions to nonpartisan groups like charities or educational organizations.
3. Why Political Donations Aren't Deductible:
   • The U.S. tax system aims to keep political influence separate from tax benefits to avoid subsidizing political activity through tax breaks.

If you are unsure about a specific donation, always check the organization's status (e.g., 501(c)(3)) and consult a tax professional.

 

[WHCSC]

I'll donate if Matt Rhule donates his $2M bonus for the upcoming season.

Are coaches allowed to donate?

 

[WHCSC]

I have just varied with the IRS that all monetary gifts to me are not taxed.
Please DM me for gifting instructions.
Thank you and God bless America! 🇺🇸

 

[huskerfan66]

Are coaches allowed to donate?

I would think so