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New tax bill will impact the sports world starting w/millions in college costs
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WesternBlazer Offline
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New tax bill will impact the sports world starting w/millions in college costs
https://www.usatoday.com/story/sports/nc...968741001/

New tax bill will impact the sports world starting with millions in costs for colleges
Steve Berkowitz, USA TODAY Sports Published 1:04 p.m. ET Dec. 20, 2017

The tax bill that has passed the House and Senate will have wide-ranging impact on the college sports world if, as expected, President Trump signs it into law.

Major-college athletics programs are facing significant increases in the cost of already highly paid coaches and administrators due a tax that will be imposed on the compensation of all non-profit organizations’ most highly paid employees. For example, as currently constructed, Alabama’s contract with football coach Nick Saban likely will cost the university at least $1.2 million in addition to the $7.125 million in basic compensation he is scheduled to be paid if remains the Crimson Tide’s coach throughout the 2018 calendar year.

Meanwhile, athletics departments will have to mitigate potential fallout from the elimination of tax deductions that donors have been able to receive for contributions tied to rights to purchase tickets and that businesses have been able to receive for entertainment costs such as taking clients to sports events.


Another potential wrinkle is a change in the rules governing taxation of income from non-profit organizations’ unrelated businesses. In the collegiate setting, this could affect revenue from sports camps, a university golf course or sports medicine/physical therapy center that is open to the public.

Overall for schools, “this is going to cost hundreds of millions of dollars a year,” said Tom McMillen, a former congressman who is now president and CEO of the LEAD1 Association, which represents athletics directors at schools in the NCAA’s top-level Football Bowl Subdivision. “It’s literally half a College Football Playoff (worth of money). When you put it at that kind of magnitude, it wakes you up a little bit.”

It also shows why college sports administrators are not likely to get a lot of sympathy as they go forward under the new tax rules.

The College Football Playoff paid out $441 million last year, according to NCAA financial records.

Like other non-profit organizations, colleges will be responsible for paying a 21% excise tax on annual compensation above $1 million that goes to any of the organization’s five most highly compensated employees. The tax is set to take effect on compensation earned, beginning Jan. 1. It also will be applied to certain types of what the legislation calls “parachute payments,” or separation payments like a buyout. At many FBS schools, coaches and/or the athletic director are among the institution’s five highest-paid employees and making more than $1 million.

"That’s not tax reform – that’s trying to discourage seven-figure payments to college sports figures and pick up a little revenue,” said Duke law professor Richard Schmalbeck, who has been a longstanding critic of the deduction for college-sports donations that provide seat-purchase privileges.

According to data compiled by USA TODAY Sports, in the sport of football alone, there are 90 head or assistant coaches making more than $1 million this season. It’s possible not all of those coaches are among their respective schools’ five highest-paid employees, and certain forms of deferred compensation will not be subject to the excise tax. But based on pay for the 2017 season, 65 public schools would have faced a combined total of about $30 million in tax just for their football coaches. (Private schools will be subject to the tax.)

Cincinnati AD Mike Bohn said Tuesday: “We were doing some quick math on this today, and (with the compensation being paid to men’s basketball coach Mick Cronin and football coach Luke Fickell) it’s half-a-million dollars.”

Iowa State AD Jamie Pollard estimates his school is facing $700,000 in additional cost from this provision.

“That figure will have to either be passed on to ticket holders and donors, or taken out of the budgets of sports that are not … being targeted by the federal government,” Pollard said in an e-mail. “It is ironic that the compensation paid in those two sports, by sheer market pressure, will actually now generate an additional financial burden for athletics directors to try and solve in our industry. It will be interesting to watch the new wave of creative ideas and suggestions that will be developed by lawyers, agents and financial advisors, to try and get around the new excise tax.”

That process already is underway, according to Roger Denny, a St. Louis-based lawyer with Spencer Fane LLP whose practice areas include representation of coaches, AD’s and schools.

“Our athletic director/university clients are certainly asking about this and other issues in the bill, and we’ve been asked to start consider ways to mitigate the effects of the tax,” said Denny, who assists USA TODAY Sports with the compilation of its coaches’ compensation surveys.

Pollard said he believes many ticket buyers will retain their seats even with the elimination of the deduction for donations connected to those purchases. He said that the increase in the standard deduction might offset the loss of the itemized deduction.

But Marc Ganis, a sports business consultant who used to work with colleges but now focuses on pro sports, had concern not only about the mathematic effect, but also about what he called “the perceptive effect.”

“Certainly one of the things used to market (season tickets and suites) is the deductability,” he said. The loss of the deduction “may chill the sale to some people even more than the actual additional cost,” which, for businesses, may not be that significant because business-tax rates are being lowered.

Even before the legislation passed in Congress, some athletics departments were reaching out to donors to act while the deduction remains available. In a posting Tuesday on Baylor’s athletics website, AD Mack Rhoades wrote: “(W)e encourage you to consider completing your 2017-18 Bear Foundation commitment and/or pre-paying for 2018-19 before December 31, 2017, in order to claim the maximum deductions from your giving.”

The end of the business-entertainment deduction could impact pro sports franchises, as well. “Everyone is going to feel it,” Ganis said. “Pro, collegiate. Operas, symphonies – they all sell seating rights.

Pro sports escaped what might have been a major issue when the House-Senate conference committee that produced the final tax legislation declined to include a House-approved provision that specifically would have ended the use of tax-exempt bonds for pro sports stadiums and arenas. Private-activity bonds, a form of financing that colleges use for construction projects including athletic facilities, also would no longer have been tax-exempt under the House version; but that provision also was dropped by the conference committee.
(This post was last modified: 12-21-2017 06:17 PM by WesternBlazer.)
12-20-2017 01:20 PM
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BAMANBLAZERFAN Offline
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RE: New tax bill will impact the sports world starting with millions in costs for college
All I got was a commercial link trying to sell stuff.

IF the new tax law does indeed cost colleges additional millions, it may well thin out the herd of G5 schools, many of whom operate on very thin budgets as is. UAB is one of these, and it may be forced to play additional "money games" to meet expenses.
(This post was last modified: 12-20-2017 01:32 PM by BAMANBLAZERFAN.)
12-20-2017 01:32 PM
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WesternBlazer Offline
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RE: New tax bill will impact the sports world starting with millions in costs for college
(12-20-2017 01:32 PM)BAMANBLAZERFAN Wrote:  All I got was a commercial link trying to sell stuff.

IF the new tax law does indeed cost colleges additional millions, it may well thin out the herd of G5 schools, many of whom operate on very thin budgets as is. UAB is one of these, and it may be forced to play additional "money games" to meet expenses.

Added text of article...
12-20-2017 01:57 PM
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mixduptransistor Offline
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RE: New tax bill will impact the sports world starting with millions in costs for college
I haven't read Saban's contract since maybe the very first one, but it's standard practice for these multi-million dollar coaches to have the bulk of the salary paid as an appearance fee from whoever holds the radio broadcast rights, like IMG. That company is a private for profit corporation. If Saban's full $7 million was being paid via the university, they'd already be taking a nearly 30% hit for Teachers' Retirement employer contributes, and he'd be taking a 7.5% hit personally

This will screw over university *presidents* and hospital CEOs but it will not impact college coaches.

Good news for the BJCC project in that they didn't screw with the tax status of the bonds they'd use.
(This post was last modified: 12-20-2017 04:02 PM by mixduptransistor.)
12-20-2017 04:01 PM
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BAMANBLAZERFAN Offline
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RE: New tax bill will impact the sports world starting with millions in costs for college
As with Paul Bryant who was the groundbreaker for finding ways to enhance his coaching income, I would be shocked if UA was actually on the hook for most of Saban's pay. I would guess that anything much above $200,000 annually comes from outside sources. For Bryant, that was Sloan Bashinsky (Golden Flake), Crawford Johnson (CocaCola) and being named to the BOD of Cotton States Insurance Co. For Ralph Jordan, the "Golden calf" was Alabama Power Co which provided the camera work and sponsorship for his TV show.

I would think that the TRS liability is for only that portion of Saban's or Malzohn's pay that comes directly from their respective university's coffers. BTW, UA reportedly carried Gene Stallings for two years at full university pay ("coaching" from his porch in Paris, Texas) so he would be vested in the TRS for about $5,000 per month. He may still be collecting those monthly TRS checks today.
(This post was last modified: 12-20-2017 06:12 PM by BAMANBLAZERFAN.)
12-20-2017 06:07 PM
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dfarr Offline
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RE: New tax bill will impact the sports world starting with millions in costs for college
(12-20-2017 06:07 PM)BAMANBLAZERFAN Wrote:  As with Paul Bryant who was the groundbreaker for finding ways to enhance his coaching income, I would be shocked if UA was actually on the hook for most of Saban's pay. I would guess that anything much above $200,000 annually comes from outside sources. For Bryant, that was Sloan Bashinsky (Golden Flake), Crawford Johnson (CocaCola) and being named to the BOD of Cotton States Insurance Co. For Ralph Jordan, the "Golden calf" was Alabama Power Co which provided the camera work and sponsorship for his TV show.

I would think that the TRS liability is for only that portion of Saban's or Malzohn's pay that comes directly from their respective university's coffers. BTW, UA reportedly carried Gene Stallings for two years at full university pay ("coaching" from his porch in Paris, Texas) so he would be vested in the TRS for about $5,000 per month. He may still be collecting those monthly TRS checks today.

Simply amazing.
12-20-2017 10:10 PM
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RE: New tax bill will impact the sports world starting with millions in costs for college
(12-20-2017 10:10 PM)dfarr Wrote:  
(12-20-2017 06:07 PM)BAMANBLAZERFAN Wrote:  As with Paul Bryant who was the groundbreaker for finding ways to enhance his coaching income, I would be shocked if UA was actually on the hook for most of Saban's pay. I would guess that anything much above $200,000 annually comes from outside sources. For Bryant, that was Sloan Bashinsky (Golden Flake), Crawford Johnson (CocaCola) and being named to the BOD of Cotton States Insurance Co. For Ralph Jordan, the "Golden calf" was Alabama Power Co which provided the camera work and sponsorship for his TV show.

I would think that the TRS liability is for only that portion of Saban's or Malzohn's pay that comes directly from their respective university's coffers. BTW, UA reportedly carried Gene Stallings for two years at full university pay ("coaching" from his porch in Paris, Texas) so he would be vested in the TRS for about $5,000 per month. He may still be collecting those monthly TRS checks today.

Simply amazing.

He has a yearly quota of Alabama coach references to make on this board, and there's only 10 days left. He's having to double and triple up to make the quota.
(This post was last modified: 12-20-2017 10:12 PM by Memphis Blazer.)
12-20-2017 10:11 PM
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RE: New tax bill will impact the sports world starting with millions in costs for college
He left out Mike Shula & Ray Perkins.
12-21-2017 12:36 AM
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imjustafatkid Offline
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RE: New tax bill will impact the sports world starting with millions in costs for college
(12-20-2017 04:01 PM)mixduptransistor Wrote:  If Saban's full $7 million was being paid via the university, they'd already be taking a nearly 30% hit for Teachers' Retirement employer contributes, and he'd be taking a 7.5% hit personally

There's a cap to the contribution. I don't remember what that is right now (I knew it when I was under TRS), but I know they wouldn't even come close to paying 30% of what he is making.
12-21-2017 08:18 AM
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rook360 Offline
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RE: New tax bill will impact the sports world starting with millions in costs for college
I'M SORRY, I THOUGHT THIS WAS BLAZER TALK NOT TURD INSIDER?

So how does this new tax bill affects donations to OUR, UAB's, athletic program donations or donations to the band. I had plan to donate at least $100 annually to each football, travel band for football, and school of arts and sciences.
12-21-2017 09:43 AM
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WesternBlazer Offline
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RE: New tax bill will impact the sports world starting w/millions in college costs
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12-21-2017 06:16 PM
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RE: New tax bill will impact the sports world starting w/millions in college costs
In the carnival trade they call it "bait and switch". In politics its the red cape of the bullfighter -- they wave the cape in front of the bull and he charges it thinking like Charlie Brown and the football, "I've got it now!" They put money in one pocket by claiming to cut taxes while taking it out of the other by eliminating deductions and exemptions.

Voters will get a cut for several years while corporations get cuts that are permanent. Corporate tax cuts and capital gains exemptions are forever. For the past half century, Congress has taken good care of its "owners".
(This post was last modified: 12-22-2017 01:34 AM by BAMANBLAZERFAN.)
12-22-2017 01:32 AM
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imjustafatkid Offline
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RE: New tax bill will impact the sports world starting w/millions in college costs
(12-21-2017 09:43 AM)rook360 Wrote:  I'M SORRY, I THOUGHT THIS WAS BLAZER TALK NOT TURD INSIDER?

RSA retirement rules are relevant to UAB. We pay Clark more than the earnings cap for TRS/ERS comtributions (it's less than 500k for sure).
(This post was last modified: 12-22-2017 09:38 AM by imjustafatkid.)
12-22-2017 09:36 AM
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imjustafatkid Offline
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RE: New tax bill will impact the sports world starting w/millions in college costs
(12-22-2017 01:32 AM)BAMANBLAZERFAN Wrote:  In the carnival trade they call it "bait and switch". In politics its the red cape of the bullfighter -- they wave the cape in front of the bull and he charges it thinking like Charlie Brown and the football, "I've got it now!" They put money in one pocket by claiming to cut taxes while taking it out of the other by eliminating deductions and exemptions.

Voters will get a cut for several years while corporations get cuts that are permanent. Corporate tax cuts and capital gains exemptions are forever. For the past half century, Congress has taken good care of its "owners".

Some of the individual cuts can't be permanent due to existing law or Senate rules. That is unfortunate for sure. I would hope they would revisit taxes more often than every 30 years anyway, though, so hopefully that is a motivation to do so.

As for the donations for football seats, this will have little affect. Colleges will figure out a way around this to continue getting donations.

Failing to repeal the estate tax is truly criminal though. I'd vote straight Democrat for decades if they'd eliminate that theft from our tax code.
12-22-2017 10:03 AM
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RE: New tax bill will impact the sports world starting w/millions in college costs
(12-22-2017 10:03 AM)imjustafatkid Wrote:  
(12-22-2017 01:32 AM)BAMANBLAZERFAN Wrote:  In the carnival trade they call it "bait and switch". In politics its the red cape of the bullfighter -- they wave the cape in front of the bull and he charges it thinking like Charlie Brown and the football, "I've got it now!" They put money in one pocket by claiming to cut taxes while taking it out of the other by eliminating deductions and exemptions.

Voters will get a cut for several years while corporations get cuts that are permanent. Corporate tax cuts and capital gains exemptions are forever. For the past half century, Congress has taken good care of its "owners".

Some of the individual cuts can't be permanent due to existing law or Senate rules. That is unfortunate for sure. I would hope they would revisit taxes more often than every 30 years anyway, though, so hopefully that is a motivation to do so.

As for the donations for football seats, this will have little affect. Colleges will figure out a way around this to continue getting donations.

Failing to repeal the estate tax is truly criminal though. I'd vote straight Democrat for decades if they'd eliminate that theft from our tax code.

If your estate is large enough to be taxed under the present limits, you are truly blessed. The estate tax is designed to limit the inherited fortunes that have effectively replaced the inherited titles of European nobility mentioned in the Constitution. You can still leave several millions to your children, but larger amounts draw the tax liability. The idea is to limit the possibility of the nation supporting an aristocracy / plutocracy based on inherited wealth rather than individual effort.

Today's America has over 3 million making at least $1 million annually and among them are about 600 billionaires (one is President). All this while the MEDIAN INDIVIDUAL INCOME for American workers is under $40,000 per year - down from just under $50,000 in the late 1990s. The present new tax law is likely to redistribute wealth even more into the top 20% of households who already get over 60% of all income in America.
12-22-2017 11:38 AM
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imjustafatkid Offline
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RE: New tax bill will impact the sports world starting w/millions in college costs
(12-22-2017 11:38 AM)BAMANBLAZERFAN Wrote:  If your estate is large enough to be taxed under the present limits, you are truly blessed. The estate tax is designed to limit the inherited fortunes that have effectively replaced the inherited titles of European nobility mentioned in the Constitution. You can still leave several millions to your children, but larger amounts draw the tax liability. The idea is to limit the possibility of the nation supporting an aristocracy / plutocracy based on inherited wealth rather than individual effort.

Today's America has over 3 million making at least $1 million annually and among them are about 600 billionaires (one is President). All this while the MEDIAN INDIVIDUAL INCOME for American workers is under $40,000 per year - down from just under $50,000 in the late 1990s. The present new tax law is likely to redistribute wealth even more into the top 20% of households who already get over 60% of all income in America.

Interesting. You believe our government should be charged with picking winners and losers in our economy, and limit earning potential?

Your theory about the estate tax is just absolutely wrong, especially as it deals with property. We see it all the time with major sports teams. The previous owner dies, and his/her children can't afford the estate taxes on the valuation of the team so they have to sell it. This is a tax on non-monetary property and is nothing more than theft. On the other hand, taxation on funds left behind is double-taxation, because the person leaving the money to his/her heirs already paid taxes on those funds when they were earned. This is the only instance in our tax code where double-taxation is allowed, and is a complete affront to the spirit of our laws. There is no defense of death taxes.

I don't really care about wealth distribution. No one cares how much the top 20% has if they're also earning more. Our economy became the largest in the history of the world because we have encouraged people to innovate and grow, not because we limited their earning ability.
(This post was last modified: 12-22-2017 01:27 PM by imjustafatkid.)
12-22-2017 12:53 PM
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RE: New tax bill will impact the sports world starting w/millions in college costs
But we do limit earning ability, but only for those at the bottom. Congress knows the ONLY wages they have the power to "freeze" are those at the bottom. They maintain a low minimum wage ($2.65 to $7.25) in order to suppress not just the absolute minimum but also those just above it who might get raises if the minimum wage is raised. Suppression of the lowest wages is why 50% of working Americans now make less than $40,000 per year while 50% make more - a lot more in many cases.

In a free market economy, pay is based upon perceived value of what is provided for work done. In our culture, the value is mostly for entertainment - sports, drugs (they don't call them 'recreational drugs" for no reason), show business, gambling (including the stock & bond markets), alcoholic drinks, etc. Academics like education and basic research are always prone to being cut during hard times, but NEVER entertainment (when the entertainment value of the Apollo Program dropped, the missions were cut from 32 to 17) .
(This post was last modified: 12-22-2017 06:25 PM by BAMANBLAZERFAN.)
12-22-2017 06:22 PM
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RE: New tax bill will impact the sports world starting w/millions in college costs
(12-22-2017 10:03 AM)imjustafatkid Wrote:  Failing to repeal the estate tax is truly criminal though. I'd vote straight Democrat for decades if they'd eliminate that theft from our tax code.

F-35s and cruise missiles don't pay for themselves

At any rate, what does any of this have to do with the price of tea in China?

Back to the impact on UAB, for lower income donors, it may not make financial sense to make charitable donations and itemize with the change in the standard deduction. I'm not necessarily passing judgement on this particular aspect of the tax bill (I've got plenty of problems with the rest of it) but that is something that may cause people to stop making good on their pledges
12-22-2017 08:04 PM
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RE: New tax bill will impact the sports world starting w/millions in college costs
(12-22-2017 08:04 PM)mixduptransistor Wrote:  
(12-22-2017 10:03 AM)imjustafatkid Wrote:  Failing to repeal the estate tax is truly criminal though. I'd vote straight Democrat for decades if they'd eliminate that theft from our tax code.

F-35s and cruise missiles don't pay for themselves

At any rate, what does any of this have to do with the price of tea in China?

Back to the impact on UAB, for lower income donors, it may not make financial sense to make charitable donations and itemize with the change in the standard deduction. I'm not necessarily passing judgement on this particular aspect of the tax bill (I've got plenty of problems with the rest of it) but that is something that may cause people to stop making good on their pledges

I didn’t think pledges were part are the change. I thought it was donations that went toward the right to buy priority seating tickets.
12-22-2017 09:03 PM
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RE: New tax bill will impact the sports world starting w/millions in college costs
(12-22-2017 09:03 PM)ICB Wrote:  
(12-22-2017 08:04 PM)mixduptransistor Wrote:  
(12-22-2017 10:03 AM)imjustafatkid Wrote:  Failing to repeal the estate tax is truly criminal though. I'd vote straight Democrat for decades if they'd eliminate that theft from our tax code.

F-35s and cruise missiles don't pay for themselves

At any rate, what does any of this have to do with the price of tea in China?

Back to the impact on UAB, for lower income donors, it may not make financial sense to make charitable donations and itemize with the change in the standard deduction. I'm not necessarily passing judgement on this particular aspect of the tax bill (I've got plenty of problems with the rest of it) but that is something that may cause people to stop making good on their pledges

I didn’t think pledges were part are the change. I thought it was donations that went toward the right to buy priority seating tickets.

From what I understand it is only for contributions for the right to purchase tickets
12-22-2017 11:33 PM
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