Space Sports Foundation
Friday, December 29th, 2006My wife is a giver to University of Texas athletics. They find her some excellent seats that are hard to find priced at face value. IRS allows her to deduct 80% of the reservation fee. If the reservation fee includes the face value of the tickets, then IRS allows her to deduct 80% of the reservation fee minus the face value of the seats.
I think it is time to start university space sports foundation membership in which entitles one to preferred seating on spaceflights. This foundation should team with a spaceflight operator that can offer a limited number of seats to the public at bargain rates. E.g., fly to the space station for $12 million, but preferred seating reservations and a seat to members of a foundation that pay $20 million to join. Will IRS then allow an 80% deduction of the $8 million net reservation fee to those who join?
