GOP tax plan eliminates tax deduction for donations to

[ElbertoHokie]

School's athletic fund. Big implications for college sports.

Also tells you the GOP isn't concerned about losing the vote of folks from the Southeast. At least not enough to matter.

[BigDave]

With the higher standard deduction and the state income tax deduction going away, this isn't even going to affect the vast majority of donors.

If you are married, the standard deduction is going to be $24K. That's a lot. I have itemized every single year since I graduated because I always had enough between donations, car tax, and state income tax to do so - even before I bought my house. But without state income taxes being on there, I'm not going to come close to itemizing next year.

If you don't have a $500K mortgage, you're probably not itemizing and your $2000 Hokieclub donation isn't going to put you over the top.

[WestEndHokie39]

School's athletic fund. Big implications for college sports.

Also tells you the GOP isn't concerned about losing the vote of folks from the Southeast. At least not enough to matter.

Yes- those SEC folks will stop donating and buying tickets because they can't deduct it...right!

[cwtcr hokie]

School's athletic fund. Big implications for college sports.

Also tells you the GOP isn't concerned about losing the vote of folks from the Southeast. At least not enough to matter.

see bigdave, he is correct, the vast majority of taxpayers will no longer itemize with a standard deduction that high. Also in case you did not know a persons itemized deductions start getting phased out at a certain point. Once their income reaches a number ( it is a different number based on your filing status) you start losing the itemized deductions thus losing part of your charitable contribution affect.

[FireFuente]

I'm fine with eliminating that deduction, its not a real non-profit anyway.

[fatman]

0% chance trumps' tax plan gets passed. The GOP controls every branch of getting government, but there is no way they'll pass anything that reduces loopholes or simplifies the tax code. The lobbyists make money getting those loopholes in place..