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re: NIL and taxes
Posted on 8/16/25 at 9:15 am to Indiangensing
Posted on 8/16/25 at 9:15 am to Indiangensing
quote:
I wonder how soon we start hearing stories, outcry of decent players who never made it professionally but made some money and blew it and now Uncle Sam will want his chunk... and how it will be unfair because they didn't know any better.
People only bring this up because they don’t like players being paid. Do you go to movies and wonder if all the teenage and young adult actors know about paying taxes?
1
Posted on 8/16/25 at 11:23 am to Indiangensing
quote:
I think a College education and all the other perks were more than fair for the student athletes.
Have you noticed the college loan debt in this country? That education is losing value every day. And most are covered through our tax dollars the university claims on a yearly basis. The other perks are the price of doing business for these programs who exist still primarily due to the money they bring in. Got to spend money to make money.
Let's put a cap on tv $ and coaching salaries(how about the cost of an education and some perks) and see how long the sport remains in existence. Universites generate 100s of millions, coaches compensated 10s of millions but yet the actual participants should be happy being broke, unable to work a meaningful job due to time constraints, a most times worthless education most couldn't care less about, some gear and a shared dorm room to rest their heads. And commit to 5 years of living that way while knowing millions are flowing in solely due to the players participation with no guarantee that going "professional" is the end result. They are expected to be grateful for the opportunity despite those facts. It's nonsense.
Posted on 8/16/25 at 1:20 pm to Indiangensing
I know not all of the college athletes are as knowledgeable as they should be. But, this past spring I had the chance to talk NIL with several baseball players. I was very impressed with the way they spoke about tax issues, deductible expenses, etc.
They knew their stuff.
They knew their stuff.
Posted on 8/16/25 at 1:33 pm to Indiangensing
When are teams going to start reporting other team's players for tax evasion?
Posted on 8/16/25 at 1:38 pm to Globetrotter747
quote:
People only bring this up because they don’t like players being paid. Do you go to movies and wonder if all the teenage and young adult actors know about paying taxes?
Or the teenagers working fast food, gas stations, coffee shops, etc. They just can’t admit they don’t like that certain kids are doing well.
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