Here is the link to the fall sports streaming schedule.
https://appstatesports.com/news/2023/8/ ... edule.aspx
https://appstatesports.com/news/2023/8/ ... edule.aspx
Yosef Question
-
- Posts: 2423
- Joined: Fri Aug 31, 2012 10:00 pm
- School: Appalachian State
- Has thanked: 215 times
- Been thanked: 447 times
Yosef Question
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?
-
- Posts: 9646
- Joined: Thu Aug 09, 2012 6:39 pm
- School: Appalachian State
- Location: Huntersville, NC
- Has thanked: 6393 times
- Been thanked: 3978 times
Re: Yosef Question
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.
There are some quality CPAs on here that might better answer but I think that this covers the jist.
- jm18668
- Posts: 68
- Joined: Tue Nov 10, 2015 8:00 am
- School: Appalachian State
- Location: Raleigh
- Has thanked: 53 times
- Been thanked: 18 times
Re: Yosef Question
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
Raleigh, NC
Raleigh, NC
-
- Posts: 434
- Joined: Mon Aug 13, 2012 7:26 am
- School: Appalachian State
- Has thanked: 86 times
- Been thanked: 153 times
Re: Yosef Question
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?
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?
- DaphneUrquhart
- Posts: 2053
- Joined: Thu Aug 09, 2012 6:58 am
- School: Appalachian State
- Location: Mayberry
- Has thanked: 1675 times
- Been thanked: 1478 times
Re: Yosef Question
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).appbanker wrote: ↑Mon Jan 08, 2018 9:42 pmI 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?
Whether corporations continue matching or not remains to be seen.
If serving is beneath you, then leading is beyond you.
#GiveYosef
#GiveYosef
- NO.2
- Posts: 777
- Joined: Thu Mar 26, 2015 7:34 am
- School: Appalachian State
- Has thanked: 194 times
- Been thanked: 340 times
Re: Yosef Question
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 noticed that my point totals changed (for the better) in late December and was just curious about what the actual changes were.
-
- Posts: 2683
- Joined: Fri Oct 14, 2016 12:00 pm
- School: Appalachian State
- Has thanked: 1954 times
- Been thanked: 1553 times
Re: Yosef Question
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.
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.
- DaphneUrquhart
- Posts: 2053
- Joined: Thu Aug 09, 2012 6:58 am
- School: Appalachian State
- Location: Mayberry
- Has thanked: 1675 times
- Been thanked: 1478 times
Re: Yosef Question
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.NO.2 wrote: ↑Tue Jan 09, 2018 8:28 amDaphne, 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.
If serving is beneath you, then leading is beyond you.
#GiveYosef
#GiveYosef
- AppGrad78
- Posts: 4280
- Joined: Fri Jan 20, 2006 8:33 pm
- School: Appalachian State
- Location: Born: Waynesville, NC; Resides: Greensboro, NC
- Has thanked: 3645 times
- Been thanked: 1042 times