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re: Josh Pate Bringing Some Knowledge Regarding NIL and College Football
Posted on 2/28/24 at 3:18 pm to Cryptonbarton
Posted on 2/28/24 at 3:18 pm to Cryptonbarton
quote:I don't think tax preparation is the issue.
Anyone who doesn’t think school offer free tax preparation services, or even paid tax preparation services, to these players are willfully ignorant
Percentage of income lost to taxes will be the issue.
Why give Alabama, Georgia or South Carolina all of that money, when Tennessee, Texas or Florida will let you keep it?
It's no longer about anything other than money.
1
Posted on 2/28/24 at 3:24 pm to 404 Error
quote:
Why give Alabama, Georgia or South Carolina all of that money, when Tennessee, Texas or Florida will let you keep it?
Again, the effective tax rate will end up being the same for any 4 star or 5 star player. They will end up paying the same amount in total taxes across state and federal.
Those within standard deduction range might think about it, but for most southern states it's a small enough number that it's really unlikely to push the needle.
Posted on 2/28/24 at 3:29 pm to jonnyanony
I'm not even sure who gets the $50K - $100K a year NIL these days. It seems like it's either big money or very little.
This post was edited on 2/28/24 at 4:15 pm
Posted on 2/28/24 at 4:31 pm to Smokeys Howl
So now taxes will be what saves Tennessee football. Sure thing.
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