Name, Image, Likeness

[sagegrouse]

I'm definitely not a tax accountant, and never stayed at a Holiday Inn Express. But don't you have to pay "some" tax withholding on income throughout the year? For regular paychecks, there's tax withholding. For non-tax-withholding income, taxpayers usually pay estimated taxes throughout the year. Would this also apply to these NIL "income" earned throughout a year?

Not an expert but "safe harbor" rules protect one from penalties if your TIMELY quarterly payments are 110 percent of prior-year income taxes. There are also penalties on top of interest rate for failing to file estimated taxes that one owes. I believe, but am not 100 percent sure, that if you paid no taxes in the previous year you do not have to pay estimated taxes for the following year.

[roywhite]

Sorry if this has been addressed -- at what point is a student-athlete able to begin generating NIL income? When he officially signs with a University? When he enrolls? Another standard?

[Mtn.Devil.91.92.01.10.15]

Sorry if this has been addressed -- at what point is a student-athlete able to begin generating NIL income? When he officially signs with a University? When he enrolls? Another standard?

I mean, why would there be a date when the player is eligible? It's just no longer disqualifying for the NCAA.

[Rich]

I mean, why would there be a date when the player is eligible? It's just no longer disqualifying for the NCAA.

That's how I see it. The NCAA is lifting penalties on the use of NIL so, like any other student who didn't have such restrictions, it can start whenever.

[Mtn.Devil.91.92.01.10.15]

That's how I see it. The NCAA is lifting penalties on the use of NIL so, like any other student who didn't have such restrictions, it can start whenever.

I don't know if it would disqualify a high school athlete, buy that is beyond the scope of the NCAA and the ruling.

[75Crazie]

I believe, but am not 100 percent sure, that if you paid no taxes in the previous year you do not have to pay estimated taxes for the following year.

My CPA told me exactly that not three days ago.

[tommy]

Not an expert but "safe harbor" rules protect one from penalties if your TIMELY quarterly payments are 110 percent of prior-year income taxes. There are also penalties on top of interest rate for failing to file estimated taxes that one owes. I believe, but am not 100 percent sure, that if you paid no taxes in the previous year you do not have to pay estimated taxes for the following year.

Maybe the athletic departments will hire accountants on staff to help the players with their tax issues. Could also be a selling point to recruits. Unless that hiring and the use of them by the players free of charge runs afoul of the new rules. Who knows?

[roywhite]

I don't know if it would disqualify a high school athlete, buy that is beyond the scope of the NCAA and the ruling.

Seems like most state high school associations would have rules against athletes receiving compensation.

But perhaps the elite prep schools that are forming the National Interscholastic Basketball Conference might permit NIL activity?

https://www.nicekicks.com/national-i...ll-conference/

The National Interscholastic Basketball Conference To Elevate High School Basketball
Mallory Chin | May 26, 2021

A new league is looking to elevate the game of high school basketball. According to ESPN, the National Interscholastic Basketball Conference has gathered six of the biggest powerhouse schools to form an elite league, which is set to take place during the 2021-22 season.

The six teams set to kick off the National Interscholastic Basketball Conference’s inaugural season are Oak Hill Academy (Virginia), Montverde Academy (Florida), IMG Academy (Florida), La Lumiere School (Indiana), Sunrise Christian Academy (Kansas), and Wasatch Academy (Utah). Two more schools, which have yet to be announced, will also be joining the league.

[lotusland]

Interesting that Duke is mentioned on the page itself but, in his intro message, he clearly avoids using the Duke name. I read Duke's NIL rules and I guess saying the name violates the trademark licensing...and maybe "NCAA - Duke" is listed on his page as a navigational element/tag?

Cameo is an interesting choice. I have a good friend who is an executive recruiter. He uses Cameo to send a personal messages to potential recruits. So he would look for someone of interest to the target hire. He spends $100 - $300 usually. This would be great for Duke fans and/or graduates. There are a lot of B list celebrities and one-hit-wonders on there. This would definitely appeal more to the older Duke fans who want to support Duke basketball and send BDay, anniversary, engagement or wedding greetings to a fellow Duke fan. I’m sure next year’s recruits can see how well Duke players did on Cameo vs UK for instance. So it’s up to us!!

[lotusland]

Cameo is an interesting choice. I have a good friend who is an executive recruiter. He uses Cameo to send a personal messages to potential recruits. So he would look for someone of interest to the target hire. He spends $100 - $300 usually. This would be great for Duke fans and/or graduates. There are a lot of B list celebrities and one-hit-wonders on there. This would definitely appeal more to the older Duke fans who want to support Duke basketball and send BDay, anniversary, engagement or wedding greetings to a fellow Duke fan. I’m sure next year’s recruits can see how well Duke players did on Cameo vs UK for instance. So it’s up to us!!

I wonder if Laettner is on there and how much it would cost to send a pop-a-shot reenactment of “the shot” to my good friend who is a die hard UK fan??

[Mtn.Devil.91.92.01.10.15]

Master P's son signs endorsement deal - $2 million.

[Edouble]

Master P's son signs endorsement deal - $2 million.

I can't figure out from the link who is paying him $2 million, just that he inked the deal.

[Bluedog]

Master P's son signs endorsement deal - $2 million.

It's also not like Hercy Miller is a top recruit either or going to a high profile place. He's a three-star recruit at TN St...

Perhaps being Master P's son helped in this case. I don't envision barely top 100 recruits all inking multi-million dollar deals but seems like it's impossible to predict all this.

He signed with "Web Apps America."

"We have a suite of apps that we will be launching in the very near future targeting HBCU Students and Student Athletes covering topics from financial literacy to healthy eating to games to networking."
...
"The deal was brokered by Donald Hogan of Athlete Wallet, a trail blazing digital platform that aligns student athletes with brands, and Jabari Morgan of J Morgan and Associates, a strategy development firm."
https://www.einnews.com/pr_news/5452...b-apps-america

[LasVegas]

So an MMA gym in Florida is giving every Miami football player $500 a month. The cookie starts to crumble!



https://www.espn.com/college-footbal...er-scholarship

[uh_no]

So an MMA gym in Florida is giving every Miami football player $500 a month. The cookie starts to crumble!



https://www.espn.com/college-footbal...er-scholarship

shocker.

[Bluedog]

So an MMA gym in Florida is giving every Miami football player $500 a month. The cookie starts to crumble!



https://www.espn.com/college-footbal...er-scholarship

shocker.

It goin' to be a biddin' war out there!

[arnie]

So an MMA gym in Florida is giving every Miami football player $500 a month. The cookie starts to crumble!



https://www.espn.com/college-footbal...er-scholarship

This guy is small potatoes compared to what we may see other places. If Melinda Gates cared to do this (she would not); seems she could offer millions per month to Duke B-ball players to promote any cause she desired. Great way to recruit the best.

Am I missing something regarding any rational limits?

[Dr. Rosenrosen]

This guy is small potatoes compared to what we may see other places. If Melinda Gates cared to do this (she would not); seems she could offer millions per month to Duke B-ball players to promote any cause she desired. Great way to recruit the best.

Am I missing something regarding any rational limits?

I guess the one thing I’d say is that he’s ostensibly paying them all the same thing. So not necessarily singling out certain top recruits and paying them directly. Maybe. Who knows. But I’m not gonna sit here and argue that these kids shouldn’t get a few bucks in their pocket given their role in helping their universities make wads of cash.

[Indoor66]

Are there, possibly, unintended consequences? Perish the thought.

[DoubleBlue]

Are there, possibly, unintended consequences? Perish the thought.

I suppose NIL compensation for promotions can be for anything, not just selling products, but also political campaigns, social causes, medical procedures...