NIL and Taxes

[RevWGL]

IRS says nonprofit NIL collectives giving tax deductions could be illegal - Sports Illustrated

Glad to know that the Bulldog Initiative took the cautious approach to tax deductible donations. Some folk in other states will be looking at audits.

 

[8dog]

IRS says nonprofit NIL collectives giving tax deductions could be illegal - Sports Illustrated

Glad to know that the Bulldog Initiative took the cautious approach to tax deductible donations. Some folk in other states will be looking at audits.

Insanity anyone thought that would ever fly. The IRS, unlike the ncaa, can always look at something and say “this is form over substance”. Which is what they did here.

 

[patdog]

We do have a tax exempt

Insanity anyone thought that would ever fly. The IRS, unlike the ncaa, can always look at something and say “this is form over substance”. Which is what they did here.

Yeah. I think what the IRS is going to find is that some of these entities lied in their 501(c)(3) applications. Could possibly be some penalties for the organizers.

 

[dawgstudent]

Insanity anyone thought that would ever fly. The IRS, unlike the ncaa, can always look at something and say “this is form over substance”. Which is what they did here.

How did Ole Miss approach it?

 

[8dog]

How did Ole Miss approach it?

Think they all said “we are paying you for your NIL to appear at charitable events”. Like that was ever going to fly.

 

[patdog]

Think they all said “we are paying you for your NIL to appear at charitable events”. Like that was ever going to fly.

I think our NIL has, or was working on, a charitable contribution option for us as well.

 

[The Peeper]

How did Ole Miss approach it?

Like they approach everything else, try and do whatever they want, get caught and beg for forgiveness later. Unlike Bracky that, well, you know that approach........