Just wait until the IRS starts visiting with these players...
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Just wait until the IRS starts visiting with these players...
Got a feeling that the IRS is going to get their share before anyone gets anything. That’s the American way.Quote:
Originally Posted by RaginCajun77
I think these contracts should be drawn up for positions. Imagine the competition for QB1, WR1, etc. Would be fierce
Most college students who have part time / summer jobs get all there with holdings back at tax time. Not because of the amount they make but because of their status of full time student. Will it not be the same for these guys?Quote:
Originally Posted by RaginCajun77
I'd imagine most full time college students don't make six figures in a year.Quote:
Originally Posted by KajunKrazy
Correct. My tax person always told me the refund is based on the status of student and not the amount of income. Curious if it will be different for these high paid athletes?Quote:
Originally Posted by Cajunrunner
Most of these people will get good pay for the chorus line, but the biggest dollars will as always go to the top stars. Clearly a player can move from the chorus to the headliner in one season.
That is probably correct to a financial limit. If it's not I need to get back to school.Quote:
Originally Posted by KajunKrazy
At some point your status as a student cannot do enough to overcome the amount of NIL income. What's that dollar amount? I'm not sure.Quote:
Originally Posted by moorecajun
I mean…if a person’s income and FICA tax liability exceeds the annual tuition of some cheap school, why not enroll and flunk every class for at least one year of windfall? :lol:Quote:
Originally Posted by moorecajun
Have you ever seen an industrial pyramid of how many other incidents & instances & injuries take place for one work place death to occur? It'll pretty much work out like that model. It'll happen. You can bet the farm it will happen. But probably not at a Texas, even though schools like that will be mostly responsible. It'll happen at a wannabe school that competes on that kind of a level. What do you guys think the Baylor murder was all about? It didn't happen in the locker room. But it happened. And this is condoning what caused it.Quote:
Originally Posted by CajunJack55
The IRS has no student exemption from taxes. If that was true, everybody would be in "college" forever.Quote:
Originally Posted by KajunKrazy
https://www.irs.gov/faqs/irs-procedu...arned%20income