NIL - Bryce Young

#76
#76
LouderVol said:
Self employment rates suck.
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Kids should set up s-corps...maybe avoid some of the 15.3% SE tax...if not all (I've seen that way too often even though it is far from...advisable...one realtor had avoided ALL of her own payroll taxes for 20 years šŸ˜³)
 
#78
#78
Devo182 said:
Kids should set up s-corps...maybe avoid some of the 15.3% SE tax...if not all (I've seen that way too often even though it is far from...advisable...one realtor had avoided ALL of her own payroll taxes for 20 years šŸ˜³)
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Not full up on my tax law, but why would an individual running their own s corp be a tax benefit? They, the corp, still has to pay the full rate right? It would make sense if players were joining together to share those costs.

Which raises an interesting question. Will kids form corporations that then have contracts with universities. So the university isnt employing John Doe, but instead ACME. So the student athlete "amateur" model just gets shifted from the school/ncaa to a corp.
 
#81
#81
LouderVol said:
Not full up on my tax law, but why would an individual running their own s corp be a tax benefit? They, the corp, still has to pay the full rate right? It would make sense if players were joining together to share those costs.

Which raises an interesting question. Will kids form corporations that then have contracts with universities. So the university isnt employing John Doe, but instead ACME. So the student athlete "amateur" model just gets shifted from the school/ncaa to a corp.
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Not with an S-Corp. The corporation doesn't pay a tax. The owner typically pays oneself a "reasonable salary" on which they pay payroll tax...but the rest avoids it. So...profit 150k and pay yourself 50k...the other 100k avoids SE tax. Big advantage.
 
#82
#82
Devo182 said:
Not with an S-Corp. The corporation doesn't pay a tax. The owner typically pays oneself a "reasonable salary" on which they pay payroll tax...but the rest avoids it. So...profit 150k and pay yourself 50k...the other 100k avoids SE tax. Big advantage.
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Ok, yeah didnt think about breaking down profits between payroll and other line items.

Universities better be offerring these guys a class on all this.
 
#83
#83
LouderVol said:
Ok, yeah didnt think about breaking down profits between payroll and other line items.

Universities better be offerring these guys a class on all this.
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Several are. Bama, LSU, tOSU, and Texas being just a few of which I'm aware.
 
#86
#86
508mikey said:
Will the NCAA still be around to police it ?
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For now, yes. In the future, who knows.

If the NCAA dissolves and the big schools form their own athletic association, I can see said associated still having some kind of nominal academic requirement. In order to play for the school, they'd still have to be a student, no? What would the point be of having teams that represent the schools in sports, but the players on the teams aren't students at the school?
 
#87
#87
05_never_again said:
For now, yes. In the future, who knows.

If the NCAA dissolves and the big schools form their own athletic association, I can see said associated still having some kind of nominal academic requirement. In order to play for the school, they'd still have to be a student, no? What would the point be of having teams that represent the schools in sports, but the players on the teams aren't students at the school?
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$$$$$$
 
#88
#88
508mikey said:
$$$$$$
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Yeah, the athletes would be getting paid. Probably both via NIL and direct payments from the schools/conference. But I wonder if they would set it up where the players would technically still have to be enrolled at the school. That would seem funny to have them on campus everyday, in a uniform with the school logo on it, etc., but not be students of the school. I guess they could just deem them as an employee of the school and call it a day.
 
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#89
#89
We have two Lady Vols bball players hawking signed t-shirts. What's to keep UTAD or even a booster from purchasing their entire inventory?
 
#90
#90
Remy said:
We have two Lady Vols bball players hawking signed t-shirts. What's to keep UTAD or even a booster from purchasing their entire inventory?
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The AD wouldn't be allowed to buy them, but nothing is stopping a booster. Nor should there be.
 
#92
#92
bamawriter said:
The AD wouldn't be allowed to buy them, but nothing is stopping a booster. Nor should there be.
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Is there any rule to prevent the securing of a commitment in exchange for an endorsement deal (i.e., "Hey Johnny, Uncle Joe's Used Cars is going to give you a $20k endorsement deal if you sign with Alabama") or is that permitted?
 
#93
#93
05_never_again said:
Is there any rule to prevent the securing of a commitment in exchange for an endorsement deal (i.e., "Hey Johnny, Uncle Joe's Used Cars is going to give you a $20k endorsement deal if you sign with Alabama") or is that permitted?
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That's the big question, really. It's technically against NCAA rules for a booster to contact a recruit. But, I would argue that such a rule might now be illegal.
 
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