Post by Bevo on Jan 29, 2018 18:26:34 GMT
Last week, I was shown a presentation from our finance group showing some of the expected affects of Trump's Tax Cut bill on our company. One of the smaller ones was:
None of our ticket expenses for the Kentucky Derby will be deductible anymore. In the past, they were deductible as a "marketing expense". We bring in high level customers every year for the weekend. We can still deduct the cost for meals and hotels, but.... NOT for the sporting event.
Our accountant told me the same would be true for things like: Super Bowl tickets, Golf tournaments, Club Level season tickets for Louisville football and basketball games. Before this bill, 50% of the cost of these was deductible. Now, NONE are.
We will continue to purchase Derby tickets. It's our most important event. But, I'm not sure we're going to continue with the UofL seats.
Sports marketing expenses have really skyrocketed in the past few years. This new law MIGHT take a little air out of that bubble?? We'll see.
None of our ticket expenses for the Kentucky Derby will be deductible anymore. In the past, they were deductible as a "marketing expense". We bring in high level customers every year for the weekend. We can still deduct the cost for meals and hotels, but.... NOT for the sporting event.
Our accountant told me the same would be true for things like: Super Bowl tickets, Golf tournaments, Club Level season tickets for Louisville football and basketball games. Before this bill, 50% of the cost of these was deductible. Now, NONE are.
We will continue to purchase Derby tickets. It's our most important event. But, I'm not sure we're going to continue with the UofL seats.
Sports marketing expenses have really skyrocketed in the past few years. This new law MIGHT take a little air out of that bubble?? We'll see.
