Corporate tickets

[BDYZR]

There's an article in the Trib this morning that says 66% of MLB tickets are owned by corporations. The Rays are around 33%, so attendance is poor.

My questions are, how does that relate to USF football? Or does it at all? Are we on par with other schools, or is Tampa just not the sports town most want to think it is?

http://www.tbo.com/sports/rays/rays-release-document-outlining-vision-for-new-baseball-park-20160204/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+tbo%2Frays+%28TBO+%3E+Rays%29

 

Edited February 5, 2016 by BDYZR

[NAM37]

There is very little "corporate" presence in the Tampabay area. I would expect low percentages for all of the local teams.

[Mike Stuben]

College tickets are different, and here is why:

Joe Smith owns a small business and wants 4 Rays tickets and 4 Bulls tickets. Mostly for him and his family, but when he can't make a game, he plans to give the tickets to his employees or clients. 

For the Rays, put those tickets in the company name, so they can be written off as a business expense. 

The USF tickets require a $150 donation per seat, so $600 total. So, the USF tickets include a tax deduction for Joe to put the tickets in his own name. 

1 guy, buying tickets from two teams might be motivated to put the Rays tickets in his company name and the USF tickets in his personal name. 

 

That is why you can't compare our percent to the Rays. 

[Roaming Bull]

22 minutes ago, NAM37 said:

There is very little "corporate" presence in the Tampabay area. I would expect low percentages for all of the local teams.

Governor Penishead is supposed to fixing that. By his accounts Florida will be the new Oklahoma.

[SpeedyBull]

18 minutes ago, Mike Stuben said:

College tickets are different, and here is why:

Joe Smith owns a small business and wants 4 Rays tickets and 4 Bulls tickets. Mostly for him and his family, but when he can't make a game, he plans to give the tickets to his employees or clients. 

For the Rays, put those tickets in the company name, so they can be written off as a business expense. 

The USF tickets require a $150 donation per seat, so $600 total. So, the USF tickets include a tax deduction for Joe to put the tickets in his own name. 

1 guy, buying tickets from two teams might be motivated to put the Rays tickets in his company name and the USF tickets in his personal name. 

 

That is why you can't compare our percent to the Rays. 

Interesting, but I think the rays stats stimulated the interested and the comparison question was directed towards other schools. At least that is how I read it, and if not that is what I would be interested in as well. I would imagine that some of the local corporations are buying the boxes.  

[bullsbucsfan426]

1 hour ago, Mike Stuben said:

College tickets are different, and here is why:

Joe Smith owns a small business and wants 4 Rays tickets and 4 Bulls tickets. Mostly for him and his family, but when he can't make a game, he plans to give the tickets to his employees or clients. 

For the Rays, put those tickets in the company name, so they can be written off as a business expense. 

The USF tickets require a $150 donation per seat, so $600 total. So, the USF tickets include a tax deduction for Joe to put the tickets in his own name. 

1 guy, buying tickets from two teams might be motivated to put the Rays tickets in his company name and the USF tickets in his personal name. 

 

That is why you can't compare our percent to the Rays. 

You're not wrong, but businesses can also write off charitable deductions. For example, I own a partnership (uses Form 1065). If I want to write off charitable contributions to USF athletics, all I have to do is enter code A (subject to a 50% of income limit) on my Schedule K. That gets passed on to Schedule K-1, which in turn would have the deduction passed onto me personally as an owner of the partnership. That deduction is subsequently reported on Schedule A. So I give the tickets to my employees or take a potential client to a game. So then I can write off half the cost (as an M&E business expense) on my tax return (and this is better than not getting it at all as a personal expense), and then I get the benefit of the charitable deduction on my personal. return. 

Perhaps this isn't a common situation or there's something I'm missing. 

This applies to S Corporations too, which are pass through entities. 

C Corporations are subject to different rules, but then, most people don't own a C Corporation. 

[Mike Stuben]

1 hour ago, bullsbucsfan426 said:

You're not wrong, but businesses can also write off charitable deductions. For example, I own a partnership (uses Form 1065). If I want to write off charitable contributions to USF athletics, all I have to do is enter code A (subject to a 50% of income limit) on my Schedule K. That gets passed on to Schedule K-1, which in turn would have the deduction passed onto me personally as an owner of the partnership. That deduction is subsequently reported on Schedule A. So I give the tickets to my employees or take a potential client to a game. So then I can write off half the cost (as an M&E business expense) on my tax return (and this is better than not getting it at all as a personal expense), and then I get the benefit of the charitable deduction on my personal. return. 

Perhaps this isn't a common situation or there's something I'm missing. 

This applies to S Corporations too, which are pass through entities. 

C Corporations are subject to different rules, but then, most people don't own a C Corporation. 

You are right, but that small business owner now has a choice, where does he need the deduction more when it comes to college tickets, because of the donation factor. Many still buy in company names, but this does cause an impact. 

[Calibull]

3 hours ago, HR Bull said:

Governor Penishead is supposed to fixing that. By his accounts Florida will be the new Oklahoma.

preach brotha!

[BDYZR]

3 hours ago, SpeedyBull said:

Interesting, but I think the rays stats stimulated the interested and the comparison question was directed towards other schools. At least that is how I read it, and if not that is what I would be interested in as well. I would imagine that some of the local corporations are buying the boxes.  

And you would be correct. Also, and I know we're going on 20 years, but I wonder if there's a correlation between mom and pop fan vs corporate ticket purchases vs years of existence.? 

2 hours ago, bullsbucsfan426 said:

You're not wrong, but businesses can also write off charitable deductions. For example, I own a partnership (uses Form 1065). If I want to write off charitable contributions to USF athletics, all I have to do is enter code A (subject to a 50% of income limit) on my Schedule K. That gets passed on to Schedule K-1, which in turn would have the deduction passed onto me personally as an owner of the partnership. That deduction is subsequently reported on Schedule A. So I give the tickets to my employees or take a potential client to a game. So then I can write off half the cost (as an M&E business expense) on my tax return (and this is better than not getting it at all as a personal expense), and then I get the benefit of the charitable deduction on my personal. return. 

Perhaps this isn't a common situation or there's something I'm missing. 

This applies to S Corporations too, which are pass through entities. 

C Corporations are subject to different rules, but then, most people don't own a C Corporation. 

Very interesting. Thanks

[bullsbucsfan426]

11 minutes ago, BDYZR said:

And you would be correct. Also, and I know we're going on 20 years, but I wonder if there's a correlation between mom and pop fan vs corporate ticket purchases vs years of existence.? 

Very interesting. Thanks

The Bullpen's resident CPA at your service :).

If you're wondering why I'm not swamped, I don't work in direct prep. I'm a CE writer.