Collectives should pay no tax.

Apr 19, 2024
5:38:33pm

jre85 All-American

Everything they bring in should go to overhead or nil payments. Players are going to be taxed on money they get in any event.

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jre85

Bio page: jre85
Joined: Apr 22, 2002
Last login: Jun 9, 2024
Total posts: 1,665 (0 FO)

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Messages

Author

Time

At a conference where IRS director of exempt organizations spoke

Carnac

Apr 19, 2:42pm

Additional

Carnac

Apr 19, 2:52pm

Similar to what BYU is already doing.

LeGrandBleu

Apr 19, 4:19pm

They already released a memo on it last year didn’t they?

molodyets

Apr 19, 2:54pm

Possibly

Carnac

Apr 19, 2:55pm

Hopefully the IRS comes in hard at this and uses a steep graduated tax to the

Mitty

Apr 19, 2:58pm

When you are relying on the IRS to solve your problems

Socrates Johnson

Apr 24, 8:38pm

The real impact of this will be on donors to the collectives. If they're writing

gwalker

Apr 19, 3:05pm

*lose* the ability to write off, not "use."

gwalker

Apr 19, 3:07pm

Good

Plato

Apr 19, 3:38pm

That's the concern I've had from the beginning. One reason we like to donate to BYU is the tax deduction. I can never

Bob Vance

Apr 19, 3:39pm

The way this was supposed to be set up initially that wouldn’t have been

travelcoug

Apr 19, 3:53pm

Or independent contractors.

BackPacker

Apr 19, 4:08pm

RE: At a conference where IRS director of exempt organizations spoke

BackPacker

Apr 19, 4:08pm

That's on the IRS for ever accepting them as a charity.

ochobeeguy

Apr 19, 4:10pm

Trust the government to want their cut of the action.

WaybackCougar

Apr 19, 4:40pm

In this they should. We all would have to pay they should as well

SouthernBlueBlood

Apr 19, 5:26pm

Collectives should pay no tax.

jre85

Apr 19, 5:38pm

Don’t know

SouthernBlueBlood

Apr 19, 5:44pm

Should donors get a deduction when they give

Carnac

Apr 19, 5:51pm

That is the question IRS is looking at. Not if

jre85

Apr 19, 6:39pm

Well, those are the same thing

Carnac

Apr 19, 7:52pm

Fast and loose

Cooouuugs

Apr 19, 6:01pm

Of course they aren’t charities. These are professional athletes now. Yes they

BlooCoug

Apr 19, 7:09pm

Should be easy to fix though. Just have the players do actual NIL work for

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