Reply to thread

Message: [QUOTE="SVCBeercats, post: 5269660, member: 7874"] Like it or not; a business cannot pay high wages, if it fails to make a profit. The WNBA has never earned a profit. I don't understand why it is still considered a business and not a hobby. The NBA is a financial behemoth. In the past 20 years alone, the average franchise value of NBA teams went from 265 million U.S. dollars to 4.42 billion U.S. dollars. Meanwhile, league-wide revenue in the NBA totaled 11.34 billion U.S. dollars in the 2023/24 season. The NBA is projected to earn $13B this season. The NBA can and should pay its players quite well since they generate the massive revenue. What has the WNBA done is the past 20 years or more? They lost millions! The WNBA will continue to lose money because they have no clue how to take advantage of the Caitlin Clark effect. In fact, they do the opposite. They try to quash the Clark effect. Too many customers and prospects it is racism, sexism, and moronic business practices. Perhaps they have learned a lesson or two and won't try to quash the Bueckers effect. Under the IRS' rules, a business is treated as a [B][B]hobby[/B][/B] when it meets certain criteria, primarily outlined in [B][B]Internal Revenue Code Section 183[/B][/B]. Key points include: [LIST] [*][URL='https://www.bing.com/ck/a?!&&p=e19be73c291f9f1f84a9c1e00482329d58e4648acfbf713d5614e574b8852dd6JmltdHM9MTc0NTg4NDgwMA&ptn=3&ver=2&hsh=4&fclid=3d2bc691-0d13-6af0-316b-d3bd0c506bfb&u=a1aHR0cHM6Ly93d3cudGF4YXVkaXQuY29tL3RheC1hdWRpdC1ibG9nLzIwMjUvbXktYnVzaW5lc3MtaXNuLXJzcXVvO3QtYS1ob2JieSEtcmlnaHQtaXJzLWhvYmJ5LXZzLWJ1c2luZXNz&ntb=1']T[/URL]he IRS considers an activity as a hobby if it is engaged in for pleasure rather than for profit. [*]If a business claims a net loss for too many years, it may be classified as a hobby. (Considering the NBA's financial support perhaps charity is more appropriate.) [*]When classified as a hobby, the IRS limits deductions for expenses and does not allow the deduction of any losses on the tax return. [/LIST] [/QUOTE]

Verification: First name of men's bb coach