CFP Committee Adds Beamer, Smith, Howard Manning Serving On Tennessee AD Search Committee Alabama Praised For Hiring Greg Byrne As AD Fulmer A Candidate For Tennessee AD? Cal Fans Blame Poor Ticket Sales On Late Games Length Of College Football Game Up From '10 Social Company SM2 Training College Athletes Greg Byrne To Be Next Alabama AD Kiffin Hire Already Helping FAU Ticket Sales NCAA Looks To Improve Tourney Selection Process
ATTORNEY MAKES CASE FOR COLLEGE CONTRIBUTION DEDUCTION
Published August 12, 1999
In his "Tax Report" in the WALL STREET JOURNAL, Tom Herman wrote, "Athletic directors score in a high-stakes tax battle." Herman: "When taxpayers give money to a collegiate athletic program, how much may they deduct as a charitable gift if they receive, in return, rights to purchase skybox seats at athletic events?" The question "is very important to many colleges." After a challenge by an IRS agent, Verner Liipfert attorney Philip Hochberg, representing the Div. I-A Athletic Directors Assoc., argued that an '88 law should allow 80% deductibility of amounts above the value of the tickets and "amenities," such as parking. The IRS later "confirmed the 80% rule." Hochberg called the decision "a critical financial one for major collegiate athletic programs, many of which have installed suites in stadiums and arenas in the past 10 years." Herman wrote that the American Council on Education and the NCAA were "also interested in the issue" (WALL STREET JOURNAL, 8/11).