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re: Nico’s money problems
Posted on 4/23/25 at 7:15 am to Grinder
Posted on 4/23/25 at 7:15 am to Grinder
Nico’s dad controls all the money and has like 10 people living off it. No doubt about it he’s blown through everything he got from UT already.
Gotta feel bad for Nico. May have nothing to show for it if the NFL doesn’t work out.
Gotta feel bad for Nico. May have nothing to show for it if the NFL doesn’t work out.
1
Posted on 4/23/25 at 10:40 am to Grinder
"A million dollars doesn't buy what it used to."
Zsa Zsa Gabor
Zsa Zsa Gabor
Posted on 4/23/25 at 10:48 am to TheDeathValley
quote:
I didn't say it was correct or incorrect
quote:
frankly have no idea or a very limited understand of how it works.
quote:
These athletes have agents and accountants that absolutely work the system in their favor to lower the burden
How do you know this?
Posted on 4/23/25 at 10:49 am to LewEvansFan
quote:
Nico’s dad controls all the money and has like 10 people living off it. No doubt about it he’s blown through everything he got from UT already.
Apparently, this is common in the Samoan culture. They are HUGE on taking care of the family (all of them) and sharing. Tua is basically continuing to play football in order to take care of his "family" as well. Pay no mind to the endless concussions and injuries he's had. But again, that is their culture. They believe in keeping the family as one unit and everyone shares their resources.
Posted on 4/23/25 at 10:55 am to NWLA_Bama
quote:
They believe in keeping the family as one unit and everyone shares their resources.
In Texas, we call that Mexican culture. And I love my Mexican friends so don't get me wrong. But culture is culture.
You left out the part about 3 generations in the same house.
Posted on 4/23/25 at 11:18 am to MtVernon
quote:
You left out the part about 3 generations in the same house.
That's a lot of pressure on one person. I get it, "family" is family but this type of family dynamic can easily open the door for manipulation and corruption among family members. Just because they're "family" doesn't mean they're honest or have good intentions.
Posted on 4/23/25 at 11:24 am to PeleofAnalytics
quote:
Again, as a tax accountant, we can only work so much magic. Tax law in the state is the tax law in the state and there are not many tricks you can use when you are getting a 1099 and the bulk of your expenses are being covered by your football program. This isn't some complicated corporate structure where you can play shell games. He is getting a 1099.
And 53% is not some wild number based off of 2 million dollars. A person making $2 million is paying about $692k of federal tax with an effective rate of about 34.5%. You are going to owe about $76k of self-employment tax since he is getting a 1099. Then throw on about $227k of California income tax at a 11.3% effective rate. Combine that all and it is about 49.8%. You going to quibble about him being off by 3.2%.
he isnt going to respond to you because you put facts down instead of feelings. He wanted to point out that taxes are apparently very very complicated and change a ton when over a million and getting a 1099
i would be willing to bet the dumbass you were responding too doesn't even know what a 1099 is.
Posted on 4/23/25 at 11:29 am to VFL1800FPD
is UT going to sue him for NIL money already paid?
Posted on 4/23/25 at 12:25 pm to lsu777
I doubt it. The contract wasn’t front loaded like a lot of the newer ones are.
Posted on 4/23/25 at 2:25 pm to lsu777
You can’t sue him for it. You would then basically admit you have a pay for play scheme and not NIL. Pay for play is still against NCAA rules. After the way Tenn pushed back against the NCAA I’m sure the NCAA would love to get back at them. I would venture to guess the only way you can recoup NIL money is if the player doesn’t fulfill the obligations in his NIL deal which none can be tied to playing for a certain school or even playing football at all.
This post was edited on 4/23/25 at 2:28 pm
Posted on 4/23/25 at 2:27 pm to LSUtigerNVegas
quote:
You can’t sue him for it. You would then basically admit you have a pay for play scheme and not NIL. Pay for play is still against NCAA rules. After the way Tenn pushed back against the NCAA I’m sure the NCAA would love to get back at them.
yea you can if he doesnt make appearances that are tied to the money
Posted on 4/23/25 at 2:29 pm to lsu777
I added the last part after you responded.
Posted on 4/23/25 at 2:35 pm to LSUtigerNVegas
quote:
I added the last part after you responded.
yea there has been talk about requiring certain number of appearances in certain zip codes on certain days etc to most nil deals is why i brought it up
it has nothing to do with pay for play, just they still have duties spelled out in the contract
example: you may see...certain QB has to be at every coaches show on wednesday nights during the football regular season for 1 hour each week to promote whatever brand is sponsoring the show
i made that up but its something that could be done. and it might be we will give you the money upfront but you must complete a certain number of appearances and for each you miss...certain amount has to be paid off or other promotions have to happen to make everything kosher.
Posted on 4/23/25 at 2:41 pm to lsu777
Yeah, I know they have certain obligations they have to fulfill to be paid. I believe Underwoods deal with Michigan has him doing some interviews for Barstool sports. That was a condition Portnoy wanted to boost his viewership to his platform. Jah Stewart supposedly got a Marvel internship with his NIL deal at USC.
Posted on 4/23/25 at 2:43 pm to Grinder
Maybe being a grinder is your thing and an LSU way of life?
This post was edited on 4/23/25 at 2:45 pm
Posted on 4/23/25 at 3:01 pm to TheDeathValley
quote:
Some of ya'll act like tax experts, pretending to have any idea how tax for NIL works.
Everyone on this site is an expert on finances, politics or sports. Sometimes all three.
Posted on 4/23/25 at 3:03 pm to theballguy
Well, when it's a 1099 and the school is footing the majority of the kid's expenses, it's not hard to figure out how much he'll owe in taxes. It's not brain surgery.
Posted on 4/23/25 at 3:07 pm to TheDeathValley
quote:
These athletes have agents and accountants
Who also take a cut
Posted on 4/23/25 at 3:28 pm to Grinder
quote:This is definitely an incorrect statement. None of the board "regulars" probably apply (time constraints - have to work for that kind of coin), but some of those that chime in occasionally make somewhere in that range.
Nobody here is making a million plus a year.
Posted on 4/23/25 at 3:54 pm to Grinder
quote:
That dumpster fire of a family may look back at this decision as the beginning of the fall.
What if Tennessee sucks at QB this year because they didn’t pay Nico?
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