Tennessee QB Controversy
- Thread starter NorthKCHawk
- Start date
HuckFinn
Well-Known Member
EEEeekk!
NorthKCHawk
Well-Known Member
Oh the irony. If Aguilar is better, just think of the deal Tennessee got.
trj
Well-Known Member
Random thoughts:
Iamaleav reminds me of Jayden Daniels. Not only playing style, but it is looking like they may have similar journeys in college.
Iamaleav ends up at UCLA. So, I immediately look up their OC/quarterback coach. Can Tino Sunseri coach this kid up to be a 1st rd. draft pick? Is this a blip in the radar or does he flame out?
Carson Becht is reportedly getting 4 million from Miami. Clearly, Iamaleav’s dad misplayed their hand, but I do see why you kick the tires. How does the saying go? “You are worth what someone is willing to give you.”
Iamaleav reminds me of Jayden Daniels. Not only playing style, but it is looking like they may have similar journeys in college.
Iamaleav ends up at UCLA. So, I immediately look up their OC/quarterback coach. Can Tino Sunseri coach this kid up to be a 1st rd. draft pick? Is this a blip in the radar or does he flame out?
Carson Becht is reportedly getting 4 million from Miami. Clearly, Iamaleav’s dad misplayed their hand, but I do see why you kick the tires. How does the saying go? “You are worth what someone is willing to give you.”
trj
Well-Known Member
How does this work exactly? Iamaleav not only took a pay cut to go to UCLA, but now has to pay state income tax. Tennessee has no state income tax. What are these guys paying taxes on? They are not employees or independent contractors, so are majority of these athletes paying a capital gain tax?
Full disclosure, it feels like Fry, NorthKC or maybe OK4P has already explained this, but I need a quick reminder. I do not need an 18 paragraph post, but how does the government get their money?
Full disclosure, it feels like Fry, NorthKC or maybe OK4P has already explained this, but I need a quick reminder. I do not need an 18 paragraph post, but how does the government get their money?
NorthKCHawk
Well-Known Member
I get paid by the hour, so I will keep this short.
They are not employees, but employment status does not define income. I am a partner/owner of my law firm, so I am not employee, but the money I get from my law firm is still income. I am guessing that most NIL money is reported as W-9 income to the IRS. It would be taxed in the same way as simple income, its just not employment income.NorthKCHawk
Well-Known Member
Love it.If TN really wanted to be funny they shoulda paid Aguilar the 4 milly...
To ESPN:
"Oh, we had the money all along. We have money to burn at Tennessee. We just didn't like the douschy way he asked for it."
trj
Well-Known Member
I get paid by the hour, so I will keep this short.
So, if you are an agent/advisor/accountant to a D-1 athlete(Power 4), what would be the minimum percentage you would suggest that an athlete set aside to pay the tax bill?
NorthKCHawk
Well-Known Member
I have to make quarterly payments to the IRS and usually budget closer to 35%. It would be worse in high tax states like California. However, it gets even more complicated. I know pro athletes have to pay state taxes in every state that they play in. So, if you are a Chief and play one game against the Vikings, the player is taxed like 1/20th his salary as income in Minnesota. Some states have have no state taxes and some states do. Similarly, my firm has offices in many states and I have to file returns in every state we have an office. I cannot see why it would be any different for these kids, although some may argue they earn all of their NIL money in Iowa only, and are not being paid to play in games. I am not sure the IRS will buy that. We all know why they are being paid.
Don't forget 5% goes to the agent and then there are accountants to sort out the taxes, and those dirty lawyers!
