Author: Administrator

The History of Basketball

Basketball owes its origin to Dr. James Naismith, who devised the sport in 1892. But it was not long before the sport caught on in American colleges. The first official game involving a college team was played between the New Brighton YMCA and the Geneva College in Beaver Falls, Pennsylvania on April 8, 1893, while the first intercollegiate game was played on February 9, 1895. This game saw Minnesota State School of Agriculture defeat Hamline College 9-3. 

The next major landmark was the introduction of the five-player format. This happened on January 18, 1896 during an intercollegiate game in Iowa City. By the early 1900s, the game had spread to 90 colleges, most of them located in the East and Midwest. This number continued to swell and by 1914 as many as 360 colleges had introduced the game.

In 1915 the Amateur Athletic Union of the United States, the NCAA, and the YMCA joined hands to streamline the game, and set up a committee to frame rules. This period also saw the formation of a number of regional conferences.
 

Points to note – Tax deduction through donation

Taxpayers who want to benefit from such a donation need to keep the following points in mind:

– Verify the eligibility of the organization: The charitable trust must be a qualified one for the contribution to get the tax benefit. A good place to do so is from Publication 78 which is available online and in public libraries.
 
– Itemize the deductions for your advantage:  In order to avail of deductions for your car donation, you need to itemize your deductions. Those who claim standard education can t benefit from this clause.

– Estimate the fair market value: There are various factors that must be considered in order to determine the value of your car. Many used-car buying guides will give you precise instructions so that you can make adjustments to the value of a car for accessories, mileage and other indicators of its general condition.

– Deduct the fair market value of the car: You are only allowed to deduct the fair market value of your car, which accurately takes into consideration the condition of the donated vehicle. You are not allowed to claim the full value of the car, as some people mistakenly believe.

– File the Charitable Contribution Deduction:  When donating your vehicle and claiming tax deduction, record keeping is essential. You must document all the receipts and forms related to the car donation and its fair market value.

Taxpayers who have any doubts about whether a contribution is deductible should call the IRS at 1-800-829-1040, or for TTY/TDD help, call 1-800-829-4059. If you are concerned that contributions are being sought for deceitful purposes, you should immediately contact the appropriate state charity official, who is often located in the state attorney general’s office.