And they get “free” stadiums from taxpayers. They also get a “free” minor league system from lots of state funded schools.
Kind of makes you sick, doesn’t it?
Once again: Trump was right.
STOP CRONY CAPITALISM
Disgusting.
Time to take down Big Sport.
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Jerry : How is it a write off ?
Kramer : They just write it off .
Jerry : Write it off what ?
Kramer : Jerry all these big companies they write off everything
Jerry : You don't even know what a write off is .
Kramer : Do you ?
Jerry : No . I don't .
Kramer : But they do and they are the ones writing it off .
Jerry : I wish I just had the last twenty seconds of my life back .
Well, yeah, they’re job creators, after all.
Almost all exemptions, loopholes, & preferential treatment clauses in the impenetrable US tax code are specifically written & inserted to benefit the donors who paid plenty of cash to their lobbyists & congresscritters to purchase them.
Bet the NFL would like a do-over on the political meddling by the kneeling bunch.
Fools.... cat is out of the bag.
I’d have to see how the purchase price of a team is depreciation is rationalized, but I’m glad to see that they are no longer claiming that the NFL has tax exempt status.
this is NOT some obscure tax break. Willens is a knowledgable tax person, but the article leaves out lots of the relevant facts.
Purchased intangible assets have to be amortized over 15 years.
Goodwill, franchise fees, customer lists, (non-compete agreements might get some special treatment).
Works the same for anybody buying a franchise.
Now, it looks like a HORRIBLE deal. - WHAT? (new business owner screaming at his CPA) - I can’t deduct all my investment against income in the early years! THOSE B@ST@RD$!!, ................ etc. ..... ho, hum ....
In this “here-is-the-sound-bite, now-everyone-pile-on” world the media is foisting on us, you Freepers need to learn how to be more skeptical.
It is called Bread and Circuses. Got to keep the masses happy or they riot! There are more of them than the leaders!