Another chance to play Oakmont

[CJ Carder]

Just thought I'd throw this out there if anyone is interested.  Every year (for about 3 years now) I get an entry form from the St. Anthony's School in Wexford, PA to play in their fundraising tournament at Oakmont.  Here's the info if anyone is interested...

24th Annual Rocky Bleier Golf Invitational
Monday, April 28, 2008
Oakmont Country Club

Registration at 10
Buffet Lunch at 11
Shotgun at 12:30
Cocktails at 6
Dinner with an auction 7-9

You must register as a foursome, but according to the tournament director, it is a "play your own ball"ish situation.  The foursome plays as a team and they score the two best individual balls from each group.  So basically a 4-man best ball format.

The only kicker for me is the $3200/group entry fee.  Even though $1600 is tax deductible as a charitable contribution, it's difficult to swing that kind of money to play golf.  

However, I was thinking that if anyone who owns a business wanted to write the whole thing off as a business expense, that might be a good way to get a group in.

The tournament is limited to 30 groups and the registration forms just went out earlier this week.

[Scott Szabo]

CJ,

It wouldn't matter if one owns a business or not, the only tax deductible amount would be the $1,600.  Basically the way it works is the amount of your deduction is limited to what you pay less the value of what is received.  In your scenario. essentially $1,600 is considered to be the value of what the foursome receives in the form of greens fees, cart, meals, etc.

Even at $3,200, that would equate to $800 per individual with an after tax cost of approximately $680 or so depending on which tax bracket you would fall in.  In my opinion, a very reasonable price to pay to play one of America's greats, assuming you don't factor in the travel costs.

Scott

[CJ Carder]

Scott,

I know how the tax deductions work.  What I meant by "write it off as a business expense" was more along the lines of - run it through as a cost of doing business, entertaining clients, etc.  We used to be able to do that in my business, but regulations don't allow it any longer.  However, there are still industries where that sort of thing is permissable.

[J Sadowsky]

CJ,

It wouldn't matter if one owns a business or not, the only tax deductible amount would be the $1,600.  Basically the way it works is the amount of your deduction is limited to what you pay less the value of what is received.  In your scenario. essentially $1,600 is considered to be the value of what the foursome receives in the form of greens fees, cart, meals, etc.

Even at $3,200, that would equate to $800 per individual with an after tax cost of approximately $680 or so depending on which tax bracket you would fall in.  In my opinion, a very reasonable price to pay to play one of America's greats, assuming you don't factor in the travel costs.

Scott

Don't forget the two meals and drinks!

But the shotgun start would irritate me, unless I was the lucky group that started on 1.

[Chip Gaskins]

Do you know if this is still open?  I have a friend that would be interested.

[CJ Carder]

Do you know if this is still open?  I have a friend that would be interested.

I don't know if it is still open.  Try calling Karen Babeji at 724-940-9020 x 104.  She's the tournament coordinator.  I know they normally fill up pretty quick, but it's worth a shot.

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