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GCHokie34

Joined: 06/11/2002 Posts: 6861
Likes: 21114


No matter the school...


There wont be "quite a few" above 600k. It is national news every time a player makes that kind of deal. Every single time its a qb. So unless by "quite a few" you mean like 8 total in all of college football, then yes.

Taxes is and has always been the weakest argument against NIL. Not a single athlete in college sports would rather go back to the old model rather than pay taxes...no one is scared of taxes.

These kids are supporting their families, having children, going to class, getting degrees, training at the highest level to win games and you think they will choose to give it all away because of taxes?

Currently my employer does not allow a side income. But if they did and they came to me and said "you can have a 2nd income, but youll have to pay taxes on it" I would say "duh" and the issue would be over. Somehow fans have clung onto taxes as though its some sort of deterrent to making money for individuals who were making zero dollars for the last century.

I cant believe this is still a discussion point...

(In response to this post by EDGEMAN)

Posted: 09/08/2021 at 9:10PM



+4

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Current Thread:
 
  
NIL question for the CPAs on this board -- EDGEMAN 09/08/2021 5:16PM
  No matter the school... -- GCHokie34 09/08/2021 9:10PM
  @GCHokie34 You might want to chime in. ** -- IB4TECH 09/08/2021 8:52PM
  It depends on how the agreement is structured. -- RJHokie 09/08/2021 6:02PM
  Would be subject to self employment tax. ** -- VT4ME 09/08/2021 5:56PM
  When I worked as an independent contractor... -- EDGEMAN 09/08/2021 8:23PM
  Which I believe runs around 15% ** -- VT ChemE 1986 09/08/2021 6:02PM
  Yep ** -- VT4ME 09/08/2021 7:09PM

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