Here is the link to the fall sports streaming schedule.

https://appstatesports.com/news/2023/8/ ... edule.aspx

Yosef Question

appbio91
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Yosef Question

Unread post by appbio91 » Mon Jan 08, 2018 6:37 pm

For years I have used corp matching funds to double my Yosef contributions. I wonder if since this is no longer a qualifying donation if these matches will go away. Has the club thought about this? Any way around it? What if I give but do not purchase season tickets? I know some people who do this. In that case is it deductible because you are not receiving any benefits?

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Re: Yosef Question

Unread post by AppSt94 » Mon Jan 08, 2018 6:42 pm

Yes the club is a not for profit so your donation is deductible, provided it takes you above the new standard deduction threshold. I beleive the ticket and other benefit deductions kick in based on the savings that you received or the value of gifts. I.e: AD gift, parking, season ticket pricing versus the value of the individual seat.

There are some quality CPAs on here that might better answer but I think that this covers the jist.

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Re: Yosef Question

Unread post by jm18668 » Mon Jan 08, 2018 7:36 pm

Yosef club sent out a notification about this in December urging you to donate in 2017 for future years to take advantage of the tax deduction before it was changed for 2018. In prior years, If you itemized your deductions, 80% of your donation was deductible as the other 20% was considered for perks such as parking. From the email I saw you won't be able to deduct anything in 2018. However, with the increase in standard deductions, $6350 to $12,000 for individuals and $12,700 to $24,000 for couples you might be better off not itemizing your deductions even if you did so in past years.
Brad Manning '99
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appbio91
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Re: Yosef Question

Unread post by appbio91 » Mon Jan 08, 2018 9:31 pm

Yea I am assuming the match is no longer happening since the donation isn't deductible.

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Re: Yosef Question

Unread post by appbanker » Mon Jan 08, 2018 9:42 pm

I would think it would depend on who the donation and match go to. My company matches education gifts so the donation and match are actually paid to the Appalachian Fund, not directly to Yosef club. I include my Yosef number in the memo and App transfers the funds.

Another question for the CPAs, are there corporate deductions that are allowed (like the matching funds) that are deductible that are not allowed on personal deductions?

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Re: Yosef Question

Unread post by DaphneUrquhart » Mon Jan 08, 2018 10:31 pm

appbanker wrote:
Mon Jan 08, 2018 9:42 pm
I would think it would depend on who the donation and match go to. My company matches education gifts so the donation and match are actually paid to the Appalachian Fund, not directly to Yosef club. I include my Yosef number in the memo and App transfers the funds.

Another question for the CPAs, are there corporate deductions that are allowed (like the matching funds) that are deductible that are not allowed on personal deductions?
Corporate charitable contributions are generally limited to 10% of taxable income in C-corporations. I would imagine most corporations large enough to offer matching gifts are taxed as C-corporations (rather than their pass-thru cousins, the S-corporations).

Whether corporations continue matching or not remains to be seen.
If serving is beneath you, then leading is beyond you.

#GiveYosef

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Re: Yosef Question

Unread post by NO.2 » Tue Jan 09, 2018 8:28 am

Daphne, while we're on the subject could you comment on how the point system was recently restructured? I know it was mentioned in a previous thread but I failed to find it.

I noticed that my point totals changed (for the better) in late December and was just curious about what the actual changes were.

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Re: Yosef Question

Unread post by Rick83 » Tue Jan 09, 2018 9:50 am

A strategy for charitable giving under the new tax plan is to "bunch" your donations every other year. For example, I went ahead and paid my 2018 Yosef donation (and some other donations that I regularly make) in full last month, in 2017, so they're deductible since I itemize.
Now, in 2018, with the higher standard deduction I probably won't have enough to itemize so I'll benefit from the higher standard deduction when I file my 2018 taxes. In 2019, I'll fully pay my 2019 Yosef dues by the deadline, and then I'll pay my 2020 Yosef dues in December of 2019 (along with catching up some of the other contributions to my regular charities) so that I have a surge of donations in 2019 to push me over the standard deduction threshold. You can do similar things with your mortgage payment, state income taxes, property taxes, etc. but be aware of the $10K cap on state and local taxes.
This requires planning but will put more money in your pocket over the long term, coupled of course with the lower tax rates.

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Re: Yosef Question

Unread post by DaphneUrquhart » Tue Jan 09, 2018 10:02 am

NO.2 wrote:
Tue Jan 09, 2018 8:28 am
Daphne, while we're on the subject could you comment on how the point system was recently restructured? I know it was mentioned in a previous thread but I failed to find it.

I noticed that my point totals changed (for the better) in late December and was just curious about what the actual changes were.
I don't think the points structure has changed ... yet. I'm sure they'll publish all sorts of info when the change takes effect. The goal, as I've heard it, is to make the entire point system more transparent and easier to calculate.
If serving is beneath you, then leading is beyond you.

#GiveYosef

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Re: Yosef Question

Unread post by AppGrad78 » Tue Jan 09, 2018 1:30 pm

Transparency = good

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