LousianaHorn
Kabong
I promise you the IRS will want their cut!But players beware: the taxman watcheth. He’s sort of like the Eyes of Texas.
Better keep close track of what you receive $$$, talk with a CPA, and pay the taxes on it.
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
I promise you the IRS will want their cut!But players beware: the taxman watcheth. He’s sort of like the Eyes of Texas.
Better keep close track of what you receive $$$, talk with a CPA, and pay the taxes on it.
I'm just imagining myself at the age of 19 with a million dollars in my pocket. Girls... girls... girls...
I've always been in favor of anyone at any age getting paid if they are good enough. Look at child actors. Look at The Osmonds and The Jackson 5. Why shouldn't adult college athletes get paid? If you are good enough, then that's it. Pay them.
Looking at the obscene coaching salaries, it makes sense for players to get a piece of the pie. The Wild Wild West nature of this new market will leave some student athlete tragedy stories in its wake. I'd almost argue for the money to go into a trust for these individuals but not sure how to operationalize that.
Why even go to the NFL and risk life changing injuries when you can set yourself up for life while earning a degree? Then use that degree for a good job.
I know million dollars endorsement deals have been claimed, but is there really that much money to be had for an incoming college football player, even at a big football school?
Besides the handful of top NFL players like Brady, Rodgers, etc, are millions being made in endorsements by other players?
Different types of endorsements. The latter is about companies unassociated with a particular team who believe they'll make more in additional sales than they'll spend paying the athlete. The former has some of that, but it's also alumni of a particular school helping their team get better players.
If people affiliated with Green Bay could get Aaron Rodgers to stay by offering him millions in endorsements to circumvent the salary cap, that would only be available to him if he played for the Packers, surely they would do so.
If they sign NIL deal, then they need to pay the school for expenses. It’s a business after all.Well one thing is for sure with the NIL in place the players will now be well compensated for all the hard work, blood, sweat and tears they put in. This to go with free education, dorms, meals, girls, etc.
Dang it, I went to college 32 years too early. What a great time to be a college athlete!.
I was thinking, each player will have an extra motivation or a new enthusiasm, or new energy as they are getting up a six a.m. running sprints, running stands, lifting weights, watching film etc. while each day their bank account gets fatter. A little smile (or big) has to be on their faces.
USA is a wonderful place to live.
Oh wait.......
No, this capitalist country is repressive, racist, bigoted, white supremist, patriotic, ugly history, no opportunity, no freedoms, can't thrive, etc. We need a revolution with rioting and looting and burning things down and assaulting others to make this country a better place to live.![]()
Yeah he is skipping his senior season. Journalism today is crap."Ewers is in a position academically where he could take one core English class online, graduate from high school early, ..."
Ewers is not actually skipping school. He's graduating early - in three years. I don't see that as a big problem. From the headline, I thought he was not graduating from high school and someway still getting into Ohio State, which wouldn't surprise me as they're not there to "play school," to quote one of their own.
Agree. If you take NIL money you should have to pay your own tuition, room, board, coaching fees, training facility fees, and get no stipend.If they sign NIL deal, then they need to pay the school for expenses. It’s a business after all.
Because it is COLLEGE. I have no problem with an 18 year getting paid....but let them go create a minor league and play there. Don't pretend you are a student. If getting paid to play is your goal then go to a league designed for that. We are making a mockery of the title student-athlete. Just call them "Athletic Representative of the University".I've always been in favor of anyone at any age getting paid if they are good enough. Look at child actors. Look at The Osmonds and The Jackson 5. Why shouldn't adult college athletes get paid? If you are good enough, then that's it. Pay them.
Why wouldn't they? Increases the exposure of the brand, makes other upcoming athletes more likely to notice.
Hell, I can see the most successful NIL types in college being able to forego an NFL career, and its accompanying long and short term health risks, because they will have made enough cash while in college to not need pro money.
Granted, it won't be a lot of guys who make that kind of scratch and even fewer who invest it wisely for the long term. But just watch and let's see if we get some millionaire college players who at least get to make the choice between health and more $$$.
Because it is COLLEGE. I have no problem with an 18 year getting paid....but let them go create a minor league and play there. Don't pretend you are a student. If getting paid to play is your goal then go to a league designed for that. We are making a mockery of the title student-athlete. Just call them "Athletic Representative of the University".
Some sort of players union is on the distant horizon.
How so? NIL money doesn't come from the school.I suppose the legal system did the job for them.
I'm still waiting for the women to start complaining that Title IX should equalize things and that an Ewers deal is in violation of federal law if they don't get the same thing.
How so? NIL money doesn't come from the school.
If NIL had happened a few years ago...Pretty sure they would at least reserve the right to not allow it.
Not so sure they would like to see the guys in front of the local titty bar decked out in Texas colors.
Some sort of players union is on the distant horizon.
I wonder what Ewers NIL value will be after sitting on the bench for two seasons or suffers a career-ending injury?
If NIL is accepted, the value of the scholarship should be added to income. If the school provides accounting and tax counseling to the NIL recipients, the imputed value of those services should also be included in taxable income.
With Federal and State Income tax applied to the sum of the above, his "take" will be about $500K which is still $499,000 more than he deserves at this point in his career.