Club Seats

[berryfrog95]

where exactly is the club section going to be officially? Between the 20's and endzone?

Also, what's the estimation on the tax deduction benefit?

Thx.

 

[cdsfrog]

Club level seats are first come first serve regardless of priority point level. Those words came straight out of Chris Del Conte's mouth at yesterday's young professional luncheon.

Availability yes. but not which ones the $3k vs $1k seats. points let you pick which

 

[cdsfrog]

where exactly is the club section going to be officially? Between the 20's and endzone?

Also, what's the estimation on the tax deduction benefit?

Thx.

$500 is not deductible immediately. 80% of the rest is

depends on how much you spend

 

[cdsfrog]

btw I am not trying be a prick. I just want anyone to understand this who is low in points like me putting $1k down. I decided against it.

"At that time, through our Horned Frog Priority Points System, we will rank all those who made the down payments. That ranking will determine the order of seat selection to be done at a later date."

http://gofrogs.cstv.com/genrel/032311aab.html

 

[Argeerrg]

points dictate where you can chose from. they get the choice first. so people reserving right now will have chance to buy $2500 seats if your point total is low. The $1000 seats will be gone from the first 100-200 top priority points people if not less. (6 maximum)

I think the higher points people will take the expensive seats, not the cheaper ones. They got their high points total by spending money.

At my ranking I figure the best I'm gonna do is the south end zone seats but I hope to slide into the west side seats. I guess about a year from now I'll know how it shakes out.

 

[PurplePutt]

Was told the down payment does not commit you to club seats even if you qualify. If you decide you do not want them or cannot afford the ones you are assigned then you can apply that money to any TCU tickets, season tickets, baseball, basketball, whatever. Seems like a no brainer to me. Put the money down and decide next year. Was told about 500 of a 1000 ticket would be tax deductible would seem that 2500 of a 3K ticket would be tax deductible in that scenario.

 

[cdsfrog]

I think the higher points people will take the expensive seats, not the cheaper ones. They got their high points total by spending money.

At my ranking I figure the best I'm gonna do is the south end zone seats but I hope to slide into the west side seats. I guess about a year from now I'll know how it shakes out.

They get to choose. I would think 6 seats for 6k vs 15 or 18k is a way better deal. Even for wealthy people

Difference between 1k seats and 2.5k seats 20 yard line vs 35 yard line

 

[cdsfrog]

Was told the down payment does not commit you to club seats even if you qualify. If you decide you do not want them or cannot afford the ones you are assigned then you can apply that money to any TCU tickets, season tickets, baseball, basketball, whatever. Seems like a no brainer to me. Put the money down and decide next year. Was told about 500 of a 1000 ticket would be tax deductible would seem that 2500 of a 3K ticket would be tax deductible in that scenario.

that's where I get confused. I was told $500 is automatically not thats the value of ticket/food beverage. Then I thought a certain % was deducitble. Never been a club seat holder so I definitely don't know for sure. Seems like a lot of confusing information is going around. I was told the same about the deposit

 

[PurplePutt]

that's where I get confused. I was told $500 is automatically not thats the value of ticket/food beverage. Then I thought a certain % was deducitble. Never been a club seat holder so I definitely don't know for sure. Seems like a lot of confusing information is going around. I was told the same about the deposit

I'm not confused by that? If 500 is cost of ticket/food/bevarage then the rest is a donation and is tax deductible. If you sit on the fifty, your tickets/food/beverage cost the same but the donation is 2500. If you sit on the 20, your tickets/food/beverage cost the same but you donation is only 500.

 

[aebrown22]

I'm not confused by that? If 500 is cost of ticket/food/bevarage then the rest is a donation and is tax deductible. If you sit on the fifty, your tickets/food/beverage cost the same but the donation is 2500. If you sit on the 20, your tickets/food/beverage cost the same but you donation is only 500.

This is correct.

 

[cdsfrog]

I'm not confused by that? If 500 is cost of ticket/food/bevarage then the rest is a donation and is tax deductible. If you sit on the fifty, your tickets/food/beverage cost the same but the donation is 2500. If you sit on the 20, your tickets/food/beverage cost the same but you donation is only 500.

the $500 makes sense. I was confused by 80% of the donation being deductible. this was random info giving to me by someone in the ticket office

http://grfx.cstv.com/photos/schools/tcu/sports/m-footbl/auto_pdf/CLUBSEATINGBROCHURE.pdf

the per 80% is deductible. Maybe that applies to the $500/2500 equals 20% not deductible?

 

[PurplePutt]

the $500 makes sense. I was confused by 80% of the donation being deductible. this was random info giving to me by someone in the ticket office

http://grfx.cstv.com/photos/schools/tcu/sports/m-footbl/auto_pdf/CLUBSEATINGBROCHURE.pdf

the per 80% is deductible. Maybe that applies to the $500/2500 equals 20% not deductible?

Someone figures out how much benefit you get out of the total costs and the rest is tax deductible. They send you a statement and it tells you what is tax deductible. Use that statement when you file your taxes. I doubt that the chair you sit in or the food and drink you consume is worth more or less from one location to another. You want to know the finer points of how that is figured out, call the Frog Club and don't waste your time with the ticket office.

I saw in you link to the south end zone Club Seats that the seats are 500 and the donation is 2000 and (according to the IRS) 80% of the 2000 is tax deductible? Wouldn't know if the same applies to the west side?

 

[cdsfrog]

Someone figures out how much benefit you get out of the total costs and the rest is tax deductible. They send you a statement and it tells you what is tax deductible. Use that statement when you file your taxes. I doubt that the chair you sit in or the food and drink you consume is worth more or less from one location to another. You want to know the finer points of how that is figured out, call the Frog Club and don't waste your time with the ticket office.

I saw in you link to the south end zone Club Seats that the seats are 500 and the donation is 2000 and (according to the IRS) 80% of the 2000 is tax deductible? Wouldn't know if the same applies to the west side?

not worried about 1 way or the other. Not going to be able to get the 1k seats. Thanks though, appreciate it

 

[corpuschristifrog]

Do additional priority points apply to the extra $ for club seats and what happens in 2012?

 

[westtexfrog]

Was told the down payment does not commit you to club seats even if you qualify. If you decide you do not want them or cannot afford the ones you are assigned then you can apply that money to any TCU tickets, season tickets, baseball, basketball, whatever. Seems like a no brainer to me. Put the money down and decide next year. Was told about 500 of a 1000 ticket would be tax deductible would seem that 2500 of a 3K ticket would be tax deductible in that scenario.

Same conclusion I came to, not a real tough decision for me.

 

[Deep Purple]

where exactly is the club section going to be officially? Between the 20's and endzone?

Also, what's the estimation on the tax deduction benefit?

Thx.

???

There is no tax deduction. I work in the division of the university that issues tax receipts for charitable contributions, and we have never issued them for football tickets. You're making a purchase for a going market price, not making a donation to the university. You never get a tax deduction on a purchase, only on a charitable contribution. No part of TCU ticket pricing = a charitable contribution.

If you make a Frog Club gift that qualifies you for eligibility for certain tickets, most of that gift is tax deductible, but that isn't your ticket purchase.

Frog Club gift = mostly tax-deductible
Football ticket purchase = not tax-deductible

 

[cdsfrog]

???

There is no tax deduction. I work in the division of the university that issues tax receipts for charitable contributions, and we have never issued them for football tickets. You're making a purchase for a going market price, not making a donation to the university. You never get a tax deduction on a purchase, only on a charitable contribution. No part of TCU ticket pricing = a charitable contribution.

If you make a Frog Club gift that qualifies you for eligibility for certain tickets, most of that gift is tax deductible, but that isn't your ticket purchase.

Frog Club gift = mostly tax-deductible
Football ticket purchase = not tax-deductible

incorrect.

$500 of the price is ticket cost and food/beverage value. The rest is a donation that is tax deductible

 

[ross]

Guys

There is too much confusion over the tax deduction, the rules are:

1 The first $500 is NOT deductible because you receive benefits of equal value i.e. food and seats

2 the balance (however much that is depends upon the seats selected) IS 80% deductible. the 80% rule is an arbitrary rule made by the IRS years ago for people buying suites and club seats and not unique to TCU.

3 you WILL receive a tax deduction certificate from TCU issued by the Frog Club.

4 in the past gifts to athletics have counted towards membership in the Clark Society (donors giving $1000 or more) I presume they still will.


Lynn Ross
Attorney
Board Certified Tax Law Specialist

 

[TCURiggs]

Was Deep wrong? Ooooh man....

 

[stxan3]

I have already put in for club seats in 2012. These threads have indicated that the first $500 is applicable to tickets/food/drink. What does the food/drink part of it translate to?