Steven A Moderator No. 1 Share Posted June 11, 2023 The IRS Just Laid Down A Huge Ruling That Will Change How NIL Collectives Work WWW.MSN.COM The advent of Name, Image, and Likeness (NIL) rights for college athletes has completely changed college sports, especially football and basketball. With the ability for players to accept... Link to post Share on other sites More sharing options...
Jon Joseph Moderator No. 2 Share Posted June 11, 2023 Just another attack on the today's game. I don't see it stopping until much of the G5/P5 goes the route of the Ivy League/ Division 3. The recipients of NIL deals have to, of course, pay tax on the income. Now the payors won't be able to deduct the payment as a business expense? The lyrics to the Beatles' 'Tax Man' come to mind. This is in No Way intended to be a political statement. Don't 'these folks' understand that the baby is being thrown out with bath water? That these attacks on the college athletic model will hurt people of color and women the most? The Olympic sports medals for the USA will decline? SMH. Link to post Share on other sites More sharing options...
Charles Fischer Administrator No. 3 Share Posted June 11, 2023 On 6/11/2023 at 8:22 AM, Jon Joseph said: Now the payors won't be able to deduct the payment as a business expense? This was discussed on another board that I scanned and did not have time to post here, but the consensus there was this ruling referring to personal deductions by individuals. If a business is paying an athlete via NIL to represent them in a commercial for example--that is still a business expense. 2 Mr. FishDuck Link to post Share on other sites More sharing options...
