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Thread: Corporations Wasted Estimated 43% of Sports Tickets Last Year

  1. #41
    Maybe you should read the back of the ticket.


    [QUOTE=BrooklynBound;3293766]Yes, reality is a centrally planned economy that restricts capitalism and therefore, inhibits efficiency and growth. You're not telling me anything I don't know.

    Again, if two willing parties make a mutual transaction, who are you or anyone else to interfere?[/QUOTE]

  2. #42
    [QUOTE=Vinny Patrollie;3292298]C'Mon southpark, I know numbers confuse you, but you still really blew this one. As a business owner myself, I can write off 50% of the ticket cost as an expense. Given the current corporate tax rates, that means that approximately 20% of the ticket price comes off my tax bill. So Bleed Green is absolutely correct and you sir, are wrong. Hopefully, anyone that has you do their taxes misses this post.:rolleyes:

    Oh, and GFY.[/QUOTE]

    Knucklehead .... Here is the reference from tax research RIA to the revenue code. STFU and GFY!

    Generally, IRC Sec. 274(n) allows a deduction for only 50% of otherwise allowable meal and entertainment expenses.


    When a taxpayer provides tickets to an athletic event to a business customer, proper tax treatment depends on whether the taxpayer (or his employee) attends the event with the customer. If neither attends the event with the customer, the tickets may be treated as either a business gift or entertainment expense. If the taxpayer or an employee attends, the tickets must be considered entertainment [Reg. 1.274-2(b)(1)(iii)(b)(2)]. Deductions for tickets to entertainment events are limited to face value.

  3. #43
    [QUOTE=BrooklynBound;3293766]Yes, reality is a centrally planned economy that restricts capitalism and therefore, inhibits efficiency and growth. You're not telling me anything I don't know.

    Again, if two willing parties make a mutual transaction, who are you or anyone else to interfere?[/QUOTE]

    If you haven't figured it out, he is either OBAMA or karl Marx:D

  4. #44
    You are a typical CPA with a poor sense of humor.

    [QUOTE=southparkcpa;3293972]If you haven't figured it out, he is either OBAMA or karl Marx:D[/QUOTE]

  5. #45
    [QUOTE=cr726;3294178]You are a typical CPA with a poor sense of humor.[/QUOTE]

    Yes.... thank you.:D

  6. #46
    [QUOTE=cr726;3293872]Maybe you should read the back of the ticket.[/QUOTE]

    I'll ask again, if two willing parties make a mutual transaction, who are you or anyone else to interfere?

  7. #47
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    [QUOTE=FF2®;3292341]Holy Crap. Are you really a CPA? :eek:[/QUOTE]

    Even though I like him more than you I chuckled.

  8. #48
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    [QUOTE=cr726;3294178]You are a typical CPA with a poor sense of humor.[/QUOTE]

    LMAO!

    That was great.

  9. #49
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    [QUOTE=BrooklynBound;3294986]I'll ask again, if two willing parties make a mutual transaction, who are you or anyone else to interfere?[/QUOTE]

    Johnny pays Suzie $50 for a BJ in a dark alley. The police observe the mutual transaction and tap Suzie on the shoulder while she's down on her knees. Suzie and Johnny are led away in handcuffs as they yell to the police, "who are you or anyone else to interfere with this mutual transaction?"

  10. #50
    [QUOTE=jetstream23;3295006]Johnny pays Suzie $50 for a BJ in a dark alley. The police observe the mutual transaction and tap Suzie on the shoulder while she's down on her knees. Suzie and Johnny are led away in handcuffs as they yell to the police, "who are you or anyone else to interfere with this mutual transaction?"[/QUOTE]

    Yes, this applies here too.

  11. #51
    The law bro, what more can I say, if you break the law and get caught so be it.
    But your simple view is inaccurate and you are assuming that both parties are being honest during the transaction.

    Why don't you give Mike Tice a call and ask him about scalping tickets.

    [QUOTE=BrooklynBound;3294986]I'll ask again, if two willing parties make a mutual transaction, who are you or anyone else to interfere?[/QUOTE]

  12. #52
    [QUOTE=jetstream23;3295006]Johnny pays Suzie $50 for a BJ in a dark alley. The police observe the mutual transaction and tap Suzie on the shoulder while she's down on her knees. Suzie and Johnny are led away in handcuffs as they yell to the police, "who are you or anyone else to interfere with this mutual transaction?"[/QUOTE]

    2001 Johnny borrows from Suzie $250,000 for a house he really can't afford. The house increases in value to 350K and Johnny is happy and all is great.

    2008 Johnny borrows from Suzie $250,000 for a house he really can't afford. The house decreases in value to 150K and Johnny is happy and all is NOT great. Johnny then files bankruptcy and screams "Where is my government to help me????

    Government is needed and good at some things, [B]most not[/B]. Nothing will be better than personal responsibility. Stay out of the alley and get a BJ at home! personal responsibilty seems to be a lost art.
    Last edited by southparkcpa; 10-07-2009 at 01:45 PM.

  13. #53
    [QUOTE=Timmy®;3294993]Even though I like him more than you I chuckled.[/QUOTE]

    Thanks Timmy®, I like you too. no homo!:D

  14. #54
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    [QUOTE=southparkcpa;3295131]2001 Johnny borrows from Suzie $250,000 for a house he really can't afford. The house increases in value to 350K and Johnny is happy and all is great.

    2008 Johnny borrows from Suzie $250,000 for a house he really can't afford. The house decreases in value to 150K and Johnny is happy and all is great. Johnny then files bankruptcy and screams "Where is my government to help me????

    Government is needed and good a some things, most not. Nothing will be better than personal responsibility. Stay out of the alley and get a BJ at home! personal responsibilty seems to be a lost art.[/QUOTE]

    Agree 100%

  15. #55
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    [QUOTE=Jet_Engine1;3293793]+1

    At this point, one game a year is enough for me. Maybe if I hit the lottery or invent some new life saving gadget I'll get club seats or something, but the cost of seasons, parking, food, travel etc. has limited me to picking 1 game a year to attend....[/QUOTE]

    Exactly. And that one pair of tickets to that one game has to be gratis, through one of the vendors that does business with my company. Same with baseball, although I can get to 3-4 games a year if I spread them out enough. Fans keep getting abused cost-wise and they keep taking it, at least in sufficient numbers to justify the abuse.

  16. #56
    [QUOTE=parkwayjet1;3295157]Exactly. And that one pair of tickets to that one game has to be gratis, through one of the vendors that does business with my company. Same with baseball, although I can get to 3-4 games a year if I spread them out enough. Fans keep getting abused cost-wise and they keep taking it, at least in sufficient numbers to justify the abuse.[/QUOTE]

    Me too. I just went to Fenway, paid $75 for $100 tickets because my "corporate tix fell through" That , plus I went to ONE game in tampa and I see about 1 JET game every year. Baseball tix should be $25 to $55. but that is not the free market.

    The real hidden cost is the amount paid by us and we don't see it. hats, shirts, beer etc....

    I refuse to wear anything that has a NIKE swoosh or under armor etc.... we are laughed at by these athletes and corporations.

  17. #57
    This is not an illegal act and it falls on both the homeowner and the bank who was dumb enough to lend him money.

    Johnny? You mean Wall Street and the banks screaming "Where is my gov't to help us?"

    [QUOTE=southparkcpa;3295131]2001 Johnny borrows from Suzie $250,000 for a house he really can't afford. The house increases in value to 350K and Johnny is happy and all is great.

    2008 Johnny borrows from Suzie $250,000 for a house he really can't afford. The house decreases in value to 150K and Johnny is happy and all is NOT great. Johnny then files bankruptcy and screams "Where is my government to help me????

    Government is needed and good at some things, [B]most not[/B]. Nothing will be better than personal responsibility. Stay out of the alley and get a BJ at home! personal responsibilty seems to be a lost art.[/QUOTE]

  18. #58
    [QUOTE=cr726;3295209]This is not an illegal act and it falls on both the homeowner and the bank who was dumb enough to lend him money.

    Johnny? You mean Wall Street and the banks screaming "Where is my gov't to help us?"[/QUOTE]

    We happen to agree. I say NO government. Let the banks fail too. :yes:

  19. #59
    [QUOTE=cr726;3295019]The law bro, what more can I say, if you break the law and get caught so be it.
    But your simple view is inaccurate and you are assuming that both parties are being honest during the transaction.

    Why don't you give Mike Tice a call and ask him about scalping tickets.[/QUOTE]

    Again, I never said it’s not the law. I’m asking questioning why it should be illegal. You’ve been one step behind the entire thread.

    If two willing parties make a mutual transaction, who are you or anyone else to interfere?

  20. #60
    The Jets own the rights to the ticket, therefore making them an unwilling party in the mutual transaction.

    I am one step behind because I choose to live in the real world and not to pretend there aren't any laws?

    You being arrogant doesn't make you any more right than I.

    [QUOTE=BrooklynBound;3295552]Again, I never said it’s not the law. I’m asking questioning why it should be illegal. You’ve been one step behind the entire thread.

    If two willing parties make a mutual transaction, who are you or anyone else to interfere?[/QUOTE]

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