IS THIS THE NORM FOR NIL?

I have a friend who played for Bryant in the 60s and he attested that Stabler had one brand new Vette when he started, wrecked it, and showed up with a brand new one a week later. Yeah, it was all pure as the driven snow back then.

 

It's more like European soccer. Premier League (SEC), LaLiga (B1G), Serie A (ACC/Big 12), Bundisliga (ACC/Big 12), Ligue 1 (WAC). They negotiate their own deals and they're never going to give up that right to a larger governing group (UEFA).

 

Not sure you have to back channel anything. Pretty sure this is how collectives work.

 

I'm not referring to payments to collectives (supposedly a 3rd party)...I'm talking about donations to the University Athletic Department itself.

 

Isn't this the same money though? I'm assuming lots of things that used to go to the UAA now go to the collective.

 

In over 40 years I would have to say over35k

 

What college sophomore doesn’t need an vette and a jeep?

 

The not for profit rules are clear: religion, education, etc that cannot be targeted at specific individuals - never an “endorsement contract” paying different people different songs based on their value. Many collectives have already switched from charitable seeing the truth. The rest will be forced out of non profit status. Not a close question.

 

Irregardless of the donations being a tax a tax write off or not, the payments to players should be taxed as ordinary income.

 

Uhhh...yes it is. These players will receive 1099's that more than a few of will not know what to do with.

 

It’s such a farce. We all see it for what it is and punishing free shoes is beyond corrupt. I’m laughing at FSU but it is still bullshit.

 

if they worked at Taco Bell as a teenager they should have figured that out by now. That’s no excuse

 

No, they would have a rec'd a W-2 then rather than a 1099-NEC. And who are we kidding...the large majority of these prima-donna's only work has come in the weight room at their HS.

 

Oh well, welcome to the real world. I get schedule K and I give it to the damn accountant and let him worry about

 

Unless you already spent the money. W2 employees have their taxes taken out of their paychecks. 1099 contractors generally don’t. If you make a certain amount, you’re also required to pay in quarterly and you’ll get hit with penalties and interest if you don’t.

 

The quarterly penalties for me aren’t worth dealing with it four times a year. File once and pay.

 

I don’t like giving anyone more money than I have to, especially the government.

 

Any University Athletic Department that made payments directly to players in violation of NCAA rules would have to be crazy. They don't need to do that and risk getting trucked by the NCAA. They don't do it that way; they let the boosters handle it on the sly. Plausible deniability for the Athletic department.