ua baja racing WEEKLY UPDATE 07.27.07 :: what can taxes do for you? |
How can your tax dollars go to support UA Baja Racing and its engineering endeavors? Since our design team falls under the University's category of IRS 170(c) we are able to provide individuals and organizations with tax write-offs for whatever they donate. There have always been some misunderstandings and a lack of clarity when it comes to sponsoring a Baja SAE design project. At first it may seem slightly absurd, give money to college students to build an off-road racecar? People think, why in the world would that benefit me? Sponsoring UA Baja Racing is like sponsoring a scaled down Class 1 Buggy, or if you don't follow SCORE or CORR or anything off-road, it's kind of like NASCAR, but cooler. A UA Baja Racing Sponsor gets similar privileges to that of a professional racing series sponsor when it comes to recognition, promotions, and overall advertisement. To see the perks, click on sponsorship up above on the title bar. It's a brilliant idea, really, to sponsor our racing team. Here’s why. Like previously mentioned, you get all the perks and advertisement that a professional racing series sponsor gets, but here’s the bonus... you get it for free. When I say free it's not like you just call us up and say, "Hey! Throw my name on the side of your car and let me take it for a test-drive!" When we say sponsorship is free we mean that through the government’s taxation process certain allocations can be made. A charitable donation made to a not-for-profit organization can grant an individual or organization a tax write-off for the amount donated. We have the paperwork available to view upon request, if you so desire to check it out. Every year you have to pay taxes and every year that money goes to the government. They use in areas that they believe need development. UA Baja Racing sponsorship works through your tax dollars. Instead of you paying your money directly to the government through your taxes, you instead send us your donation, we give you a tax receipt along with some other goodies, you go to pay your taxes, and get to subtract the write-off for the amount you donated. It's brilliant! You receive advertisement, publicity, free driving privileges, a say in how we paint our cars, you can get UA Baja Racing t-shits. The best part about sponsoring our team is seeing your name decaled in bold letters on the side/front/back of one or both of our vehicles! All of this is literally free through tax donations. We have lofty and achievable goals for 2008 but we will not meet them without proper funding to back our motivations. We all pay taxes, why not direct your tax dollars towards our team? We are striving to be the best Engineers of tomorrow and through this project we learn certain concepts and tools that cannot be learned in the classroom. To learn more about tax deductible donations and UA Baja Racing sponsorship, click here.
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