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Brent Key Introductory Press Conference
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<blockquote data-quote="BeeRBee" data-source="post: 923760" data-attributes="member: 1466"><p>1. Tech gives Key $100</p><p>2. Key donates $100 to athletics fund</p><p><strong>2A. KEY REPORTS $100 AS INCOME ON HIS TAX RETURN</strong></p><p>3. Key writes off $100 on tax return</p><p></p><p>There is absolutely no tax benefit from this arrangement, and depending on circumstances it is possible that you would be taxed on the income but not get a deduction.</p><p></p><p>So many people seem to think there must be some quid pro quo, when it’s probably an alumnus grateful for the opportunity granted, and both wanting to give back as well as get an easy pr win.</p><p></p><p>Btw, you can find Collins and Stansbury (and spouses) on the list of larger donors to the A-T fund on the Tech website.</p></blockquote><p></p>
[QUOTE="BeeRBee, post: 923760, member: 1466"] 1. Tech gives Key $100 2. Key donates $100 to athletics fund [B]2A. KEY REPORTS $100 AS INCOME ON HIS TAX RETURN[/B] 3. Key writes off $100 on tax return There is absolutely no tax benefit from this arrangement, and depending on circumstances it is possible that you would be taxed on the income but not get a deduction. So many people seem to think there must be some quid pro quo, when it’s probably an alumnus grateful for the opportunity granted, and both wanting to give back as well as get an easy pr win. Btw, you can find Collins and Stansbury (and spouses) on the list of larger donors to the A-T fund on the Tech website. [/QUOTE]
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Brent Key Introductory Press Conference
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