HuskyWarrior611
Mid range white knight
- Joined
- Sep 5, 2011
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Seems like a big deal. Does this help straight up bag drops that happen in recruiting?
WHy is the NCAA involved though? The contracts are between the payer and the students. Also seems to be an attempt to skirt taxes.Payments $600 and over contractors need to be reported to the IRS. So the NCAA is saying for the purposes of NIL, players will be deemed contractors who have an agreement with the NCAA. Since players will be "working" under the NCAA umbrella, the NCAA is responsible for accounting and reporting payments. It actually can be viewed as a streamlining so the players dont have to deal with accountants and making sure the contracts are legit etc. Right now Im sure nothing is being done by the books and the players could be in for a rude awakening with the taxman. Doesnt seem so outlandish what the NCAA is asking.
Thanks for this response. I’m really hoping the NCAA can get this kind of thing sorted out eventually. Good to hear a perspective about how this may actually be able to work.Payments $600 and over contractors need to be reported to the IRS. So the NCAA is saying for the purposes of NIL, players will be deemed contractors who have an agreement with the NCAA. Since players will be "working" under the NCAA umbrella, the NCAA is responsible for accounting and reporting payments. It actually can be viewed as a streamlining so the players dont have to deal with accountants and making sure the contracts are legit etc. Right now Im sure nothing is being done by the books and the players could be in for a rude awakening with the taxman. Doesnt seem so outlandish what the NCAA is asking.
Sorry, I already claimed that one. I decided to forego the $599 in exchange for the great seat at games.The chances of this being enforced are as good as the chance UConn offers me the new 15th scholarship that can be offered
The chances of this being enforced are as good as the chance UConn offers me the new 15th scholarship that can be offered
That’s a lot of instagram posts to get to 6 figures lol599 dollars per instagram story post.
They met my $12M NIL demands and offered my father an associate head coach position, but unfortunately balked at making my dog the official mascot for half the home gamesYour NIL demands too high? Your helicopter father too intrusive?
Post one story every day for one year, 218k. Imagine how funny it would be if a kid posted the same ad every day, for a year, with slight altercations?That’s a lot of instagram posts to get to 6 figures lol
Mistakez ken bee phunny.Post one story every day for one year, 218k. Imagine how funny it would be if a kid posted the same ad every day, for a year, with slight altercations?
Im not sure totWHy is the NCAA involved though? The contracts are between the payer and the students. Also seems to be an attempt to skirt taxes.
Well for contractors its $600 total for the year needs to be reported, whether its one $600 paymane tor multiple smaller limits.What if they give you $500 NIL deals every week?