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Old 09-29-2021, 08:11 PM   #16
dilanesp
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Originally Posted by AndyC View Post
I am sure your tax department would write a favorable opinion regarding that strategy.
I am told this is happening.

If the IRS disallows it down the line, I am sure we will hear about it.
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Old 09-30-2021, 02:10 PM   #17
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I am told this is happening.

If the IRS disallows it down the line, I am sure we will hear about it.



Is this a Baffert type approach to taxes? Keep breaking the law until caught. There has been zero written commentary suggesting that giving clients tickets to sporting events is currently a deductible expense.
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Old 09-30-2021, 02:40 PM   #18
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AP huh. Why don't they move back to Dyche Stadium as they did a while back.
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Old 09-30-2021, 02:44 PM   #19
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Smells like another outstanding Nagy decision. He will be long gone before The Arlington Heights Bears hit the gridiron.
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Old 09-30-2021, 06:13 PM   #20
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$430 million to refurbish Soldier Field. What a bargain.

If Nagy helps design the new stadium it will look like SPT after it was reconfigured for auto racing.
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Old 09-30-2021, 06:44 PM   #21
dilanesp
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Is this a Baffert type approach to taxes? Keep breaking the law until caught. There has been zero written commentary suggesting that giving clients tickets to sporting events is currently a deductible expense.
Rich people pushing the limits on taxes is not a particularly new phenomenon.

And BTW, at least one firm that comments on luxury boxes and taxation has mentioned this.

https://www.suiteexperiencegroup.com...luxury-suites/
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Old 09-30-2021, 06:51 PM   #22
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A billion in taxpayer money to build a factory that only operates 11 days a year. Unreal.
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Old 09-30-2021, 07:04 PM   #23
AndyC
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Originally Posted by dilanesp View Post
Rich people pushing the limits on taxes is not a particularly new phenomenon.

And BTW, at least one firm that comments on luxury boxes and taxation has mentioned this.

https://www.suiteexperiencegroup.com...luxury-suites/

Rich people generally don't push limits on taxes without professional advice.

Selling tickets in the secondary market isn't exactly pushing the limits on taxes. The cost of game tickets given to clients are still not deductible.


You could also give tickets to a charity and take a deduction.
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Last edited by AndyC; 09-30-2021 at 07:07 PM.
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Old 09-30-2021, 09:01 PM   #24
dilanesp
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Rich people generally don't push limits on taxes without professional advice.

Selling tickets in the secondary market isn't exactly pushing the limits on taxes. The cost of game tickets given to clients are still not deductible.


You could also give tickets to a charity and take a deduction.
Rich people certainly get professional advice, but they also push the limits. The "luxury boxes as promotional expense" isn't even close to the most aggressive tax strategy I have come across, and bear in mind, I only hear about these things when they come up in litigation or I see them referred to in documents.
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Old 10-03-2021, 01:16 PM   #25
alhattab
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I take great pride in knowing nothing about politics and certainly high finance.

But I have to say. Reading about ANOTHER GREAT race track being demolished for a football stadium sure re opens some old wounds.

WTF is wrong with this world?
Tried and true strategy for CDI it seems

"Back in the day" (circa 1976), they actually built a racetrack so they could build a football stadium! This was at The Meadowlands. Didn't quite work out as the state had hoped (per usual in NJ), but that was the plan. Oh, how times have changed!

Below is a history I referenced to make sure I recalled the story accurately, so figured I'd link should anyone be interested in reading it (I think you can access it)

https://www.nytimes.com/2010/09/08/s...08stadium.html

Last edited by alhattab; 10-03-2021 at 01:19 PM.
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Old 10-03-2021, 02:10 PM   #26
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$430 million to refurbish Soldier Field. What a bargain.

If Nagy helps design the new stadium it will look like SPT after it was reconfigured for auto racing.
The taxpayers are still on the hook for the Soldier Field renovation until 2032.
https://www.chicagotribune.com/polit...hq4-story.html

Frankly if I was a taxpayer in the area I would go full on revolt to make sure no taxpayer funds are going toward the new stadium, no matter how cool it might end up to be.
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