Penguins Charity Gift Bags

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Re: Penguins Charity Gift Bags

Postby sil on Thu Jan 23, 2014 8:29 am

I got one. Never have before. Here's hoping for a signed jersey.
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Re: Penguins Charity Gift Bags

Postby CERV96 on Thu Jan 23, 2014 9:14 am

I wonder if the chances of getting a signed jersey are better at the game instead of ordering online?
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Re: Penguins Charity Gift Bags

Postby shoeshine boy on Thu Jan 23, 2014 10:22 am

CERV96 wrote:I wonder if the chances of getting a signed jersey are better at the game instead of ordering online?


interesting question. no idea how the Pens do it but I was friends with several people who worked in the Thrashers organization and they would tell me stories about how most of the giveaways at the final game were rigged to go to STHs and club seat members even if they were supposedly random.
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Re: Penguins Charity Gift Bags

Postby FreeCandy44 on Thu Jan 23, 2014 10:32 am

I just couldnt bring myself pay $250 for a novelty that will sit around my house. Make sure yinz tell us what you get in your bags.
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Re: Penguins Charity Gift Bags

Postby dodint on Thu Jan 23, 2014 10:43 am

Is it really charity if you're after the swag? Since they talked about this every two minutes during play last night I was wondering if you could write off the purchase of the bag for tax purposes or if the contents exceeded the value of the write-off. I really don't know how that works because when I give to charity it's usually just a cash donation with nothing tangible returned to me.

*edit* This post was in response to a deleted post. Without that original post mine looks nitpicky and out of left field. I'm still curious about the write-off so I'll leave it.
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Re: Penguins Charity Gift Bags

Postby shoeshine boy on Thu Jan 23, 2014 10:56 am

dodint wrote:Is it really charity if you're after the swag? Since they talked about this every two minutes during play last night I was wondering if you could write off the purchase of the bag for tax purposes or if the contents exceeded the value of the write-off. I really don't know how that works because when I give to charity it's usually just a cash donation with nothing tangible returned to me.

*edit* This post was in response to a deleted post. Without that original post mine looks nitpicky and out of left field. I'm still curious about the write-off so I'll leave it.


I was wondering that too actually.
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Re: Penguins Charity Gift Bags

Postby CERV96 on Thu Jan 23, 2014 11:16 am

When i went to the Lemieux camp they gave me a list of what was considered donation and what I was paying for jerseys, dinner, etc. I hope that helps.
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Re: Penguins Charity Gift Bags

Postby dodint on Thu Jan 23, 2014 11:21 am

It's interesting, for sure. I never come close to exceeding my standard deduction so I've never itemized charitable donations anyway. First world problems I guess. ;)
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Re: Penguins Charity Gift Bags

Postby Kovy27 on Thu Jan 23, 2014 11:43 am

dodint wrote:Is it really charity if you're after the swag? Since they talked about this every two minutes during play last night I was wondering if you could write off the purchase of the bag for tax purposes or if the contents exceeded the value of the write-off. I really don't know how that works because when I give to charity it's usually just a cash donation with nothing tangible returned to me.

*edit* This post was in response to a deleted post. Without that original post mine looks nitpicky and out of left field. I'm still curious about the write-off so I'll leave it.


Yes, you should be able to write it off. The receipt says "Pittsburgh Penguins Foundation" and it is going to the charity.
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Re: Penguins Charity Gift Bags

Postby dodint on Thu Jan 23, 2014 11:50 am

So if you were a real heel you could lay out $2000 for 8 of them, ebay the contents, write off the intital costs and pocket the profit which could be substantial depending on who you get. I don't advocate that, obviously, but if the profit seeking portion of my brain sniffed that out I'm sure someone else could do it.

I thought when you wrote off charitable info you had to give the tax ID number of the organization? I know when I've donated stuff to Goodwill they've offered me a receipt with that info but I never bother with it.

Anyway, it's a cool program and I'm not down on it at all, just have a curious mind. I'll probably get one in the coming years when I don't have as many other obligations. :)
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Re: Penguins Charity Gift Bags

Postby Jim on Thu Jan 23, 2014 2:38 pm

You can only write off the donation portion. If the contents are "worth" $150 then you would only be able to write off $100. You then sell the contents on ebay for about $150... breaking even.
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Re: Penguins Charity Gift Bags

Postby darkstar57 on Thu Jan 23, 2014 2:47 pm

dodint wrote:So if you were a real heel you could lay out $2000 for 8 of them, ebay the contents, write off the intital costs and pocket the profit which could be substantial depending on who you get. I don't advocate that, obviously, but if the profit seeking portion of my brain sniffed that out I'm sure someone else could do it.

I thought when you wrote off charitable info you had to give the tax ID number of the organization? I know when I've donated stuff to Goodwill they've offered me a receipt with that info but I never bother with it.

Anyway, it's a cool program and I'm not down on it at all, just have a curious mind. I'll probably get one in the coming years when I don't have as many other obligations. :)


Doesn't work like that, the minute the "swag" because worth more that the cost of donation, its actually ends up becoming a gift to you and its taxable income, so yes while you can write off the intial "250" for the bag for charity, your income would go up based on the sales. The IRS actually monitors this stuff pretty seriously. They don't really care if the stuff you get is worth more if you never sell it, but the min you do its taxable income
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Re: Penguins Charity Gift Bags

Postby DudeMan2766 on Thu Jan 23, 2014 2:56 pm

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Re: Penguins Charity Gift Bags

Postby Kovy27 on Thu Jan 23, 2014 3:41 pm

dodint wrote:So if you were a real heel you could lay out $2000 for 8 of them, ebay the contents, write off the intital costs and pocket the profit which could be substantial depending on who you get. I don't advocate that, obviously, but if the profit seeking portion of my brain sniffed that out I'm sure someone else could do it.

I thought when you wrote off charitable info you had to give the tax ID number of the organization? I know when I've donated stuff to Goodwill they've offered me a receipt with that info but I never bother with it.

Anyway, it's a cool program and I'm not down on it at all, just have a curious mind. I'll probably get one in the coming years when I don't have as many other obligations. :)


Is it worth the write off against the cost? That's the question.
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Re: Penguins Charity Gift Bags

Postby newarenanow on Thu Jan 23, 2014 4:49 pm

dodint wrote:Is it really charity if you're after the swag? Since they talked about this every two minutes during play last night I was wondering if you could write off the purchase of the bag for tax purposes or if the contents exceeded the value of the write-off. I really don't know how that works because when I give to charity it's usually just a cash donation with nothing tangible returned to me.

*edit* This post was in response to a deleted post. Without that original post mine looks nitpicky and out of left field. I'm still curious about the write-off so I'll leave it.


You are not going to be flagged for an audit. I'd just write it off regardless of what you got.
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Re: Penguins Charity Gift Bags

Postby Factorial on Thu Jan 23, 2014 5:04 pm

Just donate what's in the bag to goodwill. They you can double write off.
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Re: Penguins Charity Gift Bags

Postby ulf on Thu Jan 23, 2014 6:40 pm

newarenanow wrote:
dodint wrote:Is it really charity if you're after the swag? Since they talked about this every two minutes during play last night I was wondering if you could write off the purchase of the bag for tax purposes or if the contents exceeded the value of the write-off. I really don't know how that works because when I give to charity it's usually just a cash donation with nothing tangible returned to me.

*edit* This post was in response to a deleted post. Without that original post mine looks nitpicky and out of left field. I'm still curious about the write-off so I'll leave it.


You are not going to be flagged for an audit. I'd just write it off regardless of what you got.

Tsk Tsk, nan, CPA
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Re: Penguins Charity Gift Bags

Postby She'sTheFastest on Thu Jan 23, 2014 7:57 pm

I got a rock.
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Re: Penguins Charity Gift Bags

Postby Mango Salsa on Sat Jan 25, 2014 10:31 am

Kovy27 wrote:I actually splurged on one of these.



Some soda water with a little lemon juice will get the stain out.
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Re: Penguins Charity Gift Bags

Postby Kovy27 on Sat Jan 25, 2014 11:54 am

Mango Salsa wrote:
Kovy27 wrote:I actually splurged on one of these.



Some soda water with a little lemon juice will get the stain out.


Image
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Re: Penguins Charity Gift Bags

Postby sonicelk on Thu Jan 30, 2014 8:47 pm

Anyone receive their bag if they ordered it online? I remember it saying something like 7-10 days, and with that being on the 22nd, I'm just curious especially since there isn't anywhere to "track your order"
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Re: Penguins Charity Gift Bags

Postby sil on Fri Jan 31, 2014 1:01 pm

Mine just arrived a little while ago...the wife called me at work to tell me. She opened it...no jersey, but lucked out with Crosby signed puck...also a Troy Loney signed puck.
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Re: Penguins Charity Gift Bags

Postby relantel on Fri Jan 31, 2014 1:13 pm

I would think they would have to have a uniform "cost" of the bag for determination purposes, to know what the deductible portion is.

Haven't figured out how I'll do this year's return with last year's bag. Trying to recall what the threshold is for CO's on when they have to send donation letters. The one I'm active in sends out letters over $10, if only because our number of donors are so small. I want to think $250 was the threshold for a tax receipt? I'm not a tax professional so I don't really know.
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Re: Penguins Charity Gift Bags

Postby Beveridge on Fri Jan 31, 2014 1:43 pm

A donation of over 250 requires a "letter", hence the cost of the bag. Otherwise they'd have a boatload of paperwork.
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Re: Penguins Charity Gift Bags

Postby knives of ice on Fri Jan 31, 2014 6:11 pm

sil wrote:Mine just arrived a little while ago...the wife called me at work to tell me. She opened it...no jersey, but lucked out with Crosby signed puck...also a Troy Loney signed puck.



same here Crosby signed puck and the Ol 29'er.
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