I am from the South and I am about to speak some fall sacrilege and break some terrible news to some of you.  I was doing my continuing education yesterday (I know, right!?!  They actually make me keep up with all this stuff every few years!) and I was studying the 2017 Tax Cuts and Jobs Act that good old President Trump signed back in December of 2017.  We all wanted lower taxes, but he actually took some of our itemized deductions out and one of those deductions was the deduction for tickets to ALL College Athletics.  SHUT THE FRONT DOOR!  Everyone south of the Mason Dixon Line just fainted, so let’s give them a minute to get up off the floor.

Now let me explain something to people who aren’t from down here.  We plan Weddings around College football schedules.  We would plan our children’s births around it, if humanly possible.  Getting anyone to do anything on a Saturday is ALWAYS met with let me check the “whatever team” schedule.  Starting late August the world as we know it shuts down EVERY Saturday.  If you are not that into football, it is SUPER annoying.  If you are into it, I am sure this sounds totally reasonable, and you don’t understand why I am explaining it.  I suppose, since an entire section of the country worships at the altar of College Football someone believed it qualified as a charitable deduction, religious freedom and all that.  (Come on people I am not stupid, it is because of the school getting the money, and schools count as charities, but my way is funnier.)

So here is the meat of it, before 2018, 80% of these tickets (not just football, ALL College Athletics) were deductible as a charitable deduction on your tax return!  80%!  Now, 2018 forward 0% of those tickets is deductible!  So any tickets you buy this year are all on you and are 100% for your entertainment.  No money back in April 2019.  Sorry football fans.

Do I think this will effect attendance at ANY College Sporting event Football or otherwise?  BAHAHAHAHAHAHA!  NO.

But on another note, President Trump, I think you may have lost your Dawg Vote in 2020.

**For those of you that were not deducting your College Athletic tickets in the past, talk to your CPA.  If you were buying a TON of them, you may want to look at revising those returns.  It probably isn’t worth it, but I don’t know your income and I don’t know how much you spent on College Athletic Tickets.  Maybe worth a conversation?**

This blog does not replace the advice of a CPA that knows you and your personal situation.  It is meant for entertainment purposes only.  Please seek the advice of a professional before making any tax or financial decisions.