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1 minute ago, IU Scott said:

Those small teams are what make the tournament and without them less people will watch it. Instead of seeing St. Peters making a run is not the same as seeing Minnesota making a run.

The small schools will still be in the tournament and will continue to be cinderellas.

 

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7 hours ago, Hoosier51 said:

 Penny adds the #1 transfer Kendric Davis. I will give him credit, he can definitely convince players to go there. One of these days you would have to think his average coaching abilities would catch up to him though.

That and NCAA probation.

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2 hours ago, FKIM01 said:

I'm not sure why people are going the charity route.  A marketing writeoff is not subject to limits like charity is?

Charity on a personal level is a direct reduction against taxes owed. Marketing would be a business expense that gets added in with all other profits and losses. 

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2 hours ago, Seeking6 said:

That's why I'm saying no way this is guaranteed. Probably a good chunk but just like NFL contracts.....the guarantee is all that matters.

NIL is for appearances, autograph signings, charity work. I dont think they can be based on whats going on on the court, numbers driven like NFL DEALS, Bonuses for reaching certain numbers.

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8 minutes ago, SawatchHoosier said:

Nijel Pack making more next year than Carson Edwards and Troy Williams combined G league contracts. Am I crazy feeling like I'd rather have Carson over Pack?

Screen Shot 2022-04-23 at 5.40.32 PM.png

If Carson could go back to college yes, he cant, so no.

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6 minutes ago, SawatchHoosier said:

This guy small businesses

That’s those IU KSOB accounting classes from 17 years ago. 🤣

Actually, I’ve done my own taxes every year of my adult life including when I had 1099 contractor income/expenses and when I’ve had significant short term investment transactions. 
 

I also used to pre-prep financials for my dad’s S-corp before they went to the actual accountants. 
 

Not bad for a guy that struggles with 4th grade arithmetic at times. 🤣

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3 minutes ago, SawatchHoosier said:

Yeah but there's no way Pack is worth $400k right? Based on NBA, G-League and Euro contracts there's no way he's worth $400K. Am missing something? 

Free market economics. Someone/something is worth whatever someone is willing to pay. 

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1 hour ago, 13th&Jackson said:

WTH?

While opening name, image and likeness opportunities to student-athletes, the policy in all three divisions preserves the commitment to avoid pay-for-play and improper inducements tied to choosing to attend a particular school. Those rules remain in effect.

"The new policy preserves the fact college sports are not pay-for-play," said Division II Presidents Council chair Sandra Jordan, chancellor at the University of South Carolina Aiken. "It also reinforces key principles of fairness and integrity across the NCAA and maintains rules prohibiting improper recruiting inducements. It's important any new rules maintain these principles."

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Yeah...good luck with that.

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1 hour ago, SawatchHoosier said:

Nijel Pack making more next year than Carson Edwards and Troy Williams combined G league contracts. Am I crazy feeling like I'd rather have Carson over Pack?

Screen Shot 2022-04-23 at 5.40.32 PM.png

So, there are two Carsen Edwards making the exact same amount of money.  Spooky.  :coffee:

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1 hour ago, Zlinedavid said:

Charity on a personal level is a direct reduction against taxes owed. Marketing would be a business expense that gets added in with all other profits and losses. 

I think it will be interesting to see how the government handles all this.  Really all these charities are is schemes to transfer money to players.  At a certain point you wonder how the taxes should work and whether or not some type of money laundering (maybe not correct term) comes into play.  If we are seeing $800k payouts to flipping Nijel Pack, the government is probably going to take a hard look at that whole system because without a real governing body it screams "Hey, potential white collar crime opportunities here."

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7 minutes ago, IUCrazy2 said:

I think it will be interesting to see how the government handles all this.  Really all these charities are is schemes to transfer money to players.  At a certain point you wonder how the taxes should work and whether or not some type of money laundering (maybe not correct term) comes into play.  If we are seeing $800k payouts to flipping Nijel Pack, the government is probably going to take a hard look at that whole system because without a real governing body it screams "Hey, potential white collar crime opportunities here."

Does this count as income and do the players have to pay state taxes in Indiana and every state they play in.  In professional sports the players pays taxes in all states they play in.

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Just now, IU Scott said:

Does this count as income and do the players have to pay state taxes in Indiana and every state they play in.  In professional sports the players pays taxes in all states they play in.

Where it sounds similar to a typical independent contractor situation, I’d say it just applies to the individual’s primary state of residence. 

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2 minutes ago, IU Scott said:

Does this count as income and do the players have to pay state taxes in Indiana and every state they play in.  In professional sports the players pays taxes in all states they play in.

I'm not going to try and play tax guy or tax attorney but yes. Here's a link to an article that covers the broad strokes. 

Paying taxes isn't a bad thing. It means folks are making $....but in some of these tax heavy states for the elite of elite recruits I could see some kids favoriting no tax states like Florida or Texas. Again....elite of elite. Not a guy doing an ad for the local burger or pizza shop.

https://www.sportico.com/law/analysis/2021/nil-taxes-1234633902/

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1 hour ago, Zlinedavid said:

Charity on a personal level is a direct reduction against taxes owed. Marketing would be a business expense that gets added in with all other profits and losses. 

Charity is also subject to a floor (standard deduction) and a ceiling with both the 30%/50% of income limitation and the AMT.  Again, a marketing deduction has none of these imitations. 

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5 hours ago, Stlboiler23 said:

Here’s my question: let’s say Miami has a rough year next year and Pack struggles. Granted I don’t think Miami is a rabid fan base for basketball by any stretch of the imagination but could you imagine fans/student section? Wouldn’t surprise me at all if they’re like “You’re getting paid $400k a year and this is all we get?!” And what about other current players on Miami that don’t have any money? Could that cause resentment toward him and cause team chemistry issues?

Issue will be with the coaches and ADs. These power brokers will pressure them into bringing in a new guy if they can’t win at the level they think they should with the kids they are buying. It’s a two edged sword for those coaches. You love getting the talent but the expectations will be through the roof…and the pressure will be crazy. 

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4 hours ago, BGleas said:

Interesting that we were able to pull Reneau away from Miami?

Just wait til they start paying the kids at Monteverde/IMG etc…kids will be making 6 figures in high school and already be committed to a school by 8th grade.

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18 minutes ago, IU Scott said:

So don't the players have two residents

Not likely. Pro players are taxed in multiple states because they’re contract employees. NIL deals are more 1099/independent contractor deals and would default to the state in which the contract work occurred. 

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