I am not sure if unionization or passage of the saving college football act is the better outcome for college football. Either option will end up regulating NIL compensation to some degree.
That is a good assessment of the situation. The one thing we can all agree on is that these kids are no longer student athletes, at least in football and basketball. They are professional athletes.This isn't a simple solution. Federal laws must be changed to allow it to happen.
The IRS has rules that define who is an employee and who is a subcontractor.
The Fair Labor Standards Act of 1938 has numerous rules that just don't fit college players as employees.
I am sure that there are other legal obstacles.
That is a good assessment of the situation. The one thing we can all agree on is that these kids are no longer student athletes, at least in football and basketball. They are professional athletes.
Good question.Do players currently have to pay taxes on NIL fund/gifts or any money given to them by the school? If not, why?
Sure, be the first school to do that and see how many employees/ players run to play for that school. Even more so when you aren’t even in the top 10 for “salaries”.I’ve asked this before, but I don’t recall an answer, if there is a clear one:
If athletes form a union and thereby become employees of their “school” (), would they be subjected to annual performance reviews and could they be sh|tcanned for poor performance?
”Mr. Smith, your completion percentage and TD/ INT ratio were below the expectations laid out in your annual performance goals. As a result, we are going to put you on a performance improvement plan or PIP. HR will be contacting you with details.”
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Of course.Do players currently have to pay taxes on NIL fund/gifts or any money given to them by the school? If not, why?
If they become employees of the school would they be subject to limitations on how long they could play?I’ve asked this before, but I don’t recall an answer, if there is a clear one:
If athletes form a union and thereby become employees of their “school” (), would they be subjected to annual performance reviews and could they be sh|tcanned for poor performance?
”Mr. Smith, your completion percentage and TD/ INT ratio were below the expectations laid out in your annual performance goals. As a result, we are going to put you on a performance improvement plan or PIP. HR will be contacting you with details.”
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If they become employees of the school would they be subject to limitations on how long they could play?
I am not sure if unionization or passage of the saving college football act is the better outcome for college football. Either option will end up regulating NIL compensation to some degree.
At this point, I'm not sure how any change would not give the bosses more power.a be careful what you wish for moment. CBA will end up regulating NIL and portal process. Or at least the teams will want to regulate those aspects of the game. And the teams will want some method of regulating/ certifying player representatives. Could end up giving bosses more power.
They can end the season a week or close to a week after New Years and on a Saturday like you suggest. Semis can be on New Years Day. Quarters the weekend around Christmas. No CCG and eliminate a regular season game.it seems the "SAVE" act is fading under the lack of SEC and B1G support. Collective Bargaining is probably the only way to avoid a stream of lawsuits around NIL and comp., imo. 5-for-5 is a great first step to cleaning up the one-year free agency mess, too.
Once those two ugly aspects of the sport get flattened (if ever), there are aspects of the Save Act that should be considered again. Someone needs to show the courage to challenge the Conference set-ups, including the constant realignment and the continuation of Conf. Championship games. We need to get the season over in mid-January, not at the end of January like this season will be. Saturdays (post Jan. 1) need to continue to belong to College ball in the post-season, unlike this season's Semis on Thursday and Friday and the Final on a Monday again.
So, to get to the greater good, I'll grit my teeth and grind through a unionized college football with collective bargaining. I'll end up hating it, but it's likely the path of least resistance for the foreseeable future.
No more than the janitor or campus landscaper has to.Would they need to play school at all?
All monies received by a player except grants to cover tuition and mandatory fees are taxable. In the case of faux NIL, the incidence of taxation probably falls on the giver.Do players currently have to pay taxes on NIL fund/gifts or any money given to them by the school? If not, why?
I was of impression NIL was personal service contract between player and who ever was licensing their NIL. So in that situation tax would be on player as self employed?All monies received by a player except grants to cover tuition and mandatory fees are taxable. In the case of faux NIL, the incidence of taxation probably falls on the giver.
An amazing 78% of NFL players are bankrupt within 12 years of retirement. They're much smarter than their attorneys, accountants and financial advisors!
Other than this board?One more thing to ruin the game.
Money for nothin' and their chicks for free.Or could they get tenure and play there forever?
Barry, please confirm/clarify if you know....Of course.
To be clear:
Meaning "Of course it is taxable to the recipient (ballplayer). Obviously"
I couldn't speak with certainty as to whether the ballplayers are paid via "1099" - but I don't really know how else it would be done (they are certainly not "employees" of those entities paying the "NIL" money).Barry, please confirm/clarify if you know....
The NIL deals are paid as 1099s, I believe. So no taxes taken up front, and the tax liability is on the player. Unless the payments were in cash (!!), the contributing businesses would make sure the paperwork was filed so that they can claim their payments as marketing expenses.
I don't know about currently, but at least initially, this "tax thing" was not made clear (or not clear enough, perhaps) to the players, who were shocked - shocked, I tell you! - to realize that they needed to pay their taxes on their NIL monies.
Instead of educating and working with them to plan and to take their own responsibility in this, one of the collectives began reaching out to folks who had already donated via the collective to ask the donors to chip in toward paying the kids' taxes! WTH?!
We can only hope that those early oversights and missteps have been corrected and that the players are educated on this and have a thorough understanding about the financial responsibilities that go along with collecting the compensation. Well, I hope for and expect that at Penn State, anyway.
Subtle. I love it.Imagine being born on 3rd base with a ton of money and doing that 6 times over. Brilliant.
The J is for Genius.Imagine being born on 3rd base with a ton of money and doing that 6 times over. Brilliant.
You missed the "faux" modifier, which makes it a gift.I was of impression NIL was personal service contract between player and who ever was licensing their NIL. So in that situation tax would be on player as self employed?
True unless the player is required to support a product or establishment.All monies received by a player except grants to cover tuition and mandatory fees are taxable. In the case of faux NIL, the incidence of taxation probably falls on the giver.
I was hoping for the international ladies garment workers union.I hope they will be Teamsters
I was hoping for the international ladies garment workers union.
Look for , the union label!
542 Operating Engineers of PhiladelphiaI hope they will be Teamsters
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