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Huskers NIL Promotions


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My guess is that there will be a whole array of tax issues on all this and violations of tax laws for income generated.  Most kids don't think about these sorts of things and the government taking 25-50% of your income.  And, every item hidden is a violation and a potential for IRS issues.

 

It's all great for them ... but it does have responsibility that goes with it.  There will be growing pains for sure.  It will be interesting what new problems it creates and the learning curve for all sides.

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16 minutes ago, BigRedN said:

My guess is that there will be a whole array of tax issues on all this and violations of tax laws for income generated.  Most kids don't think about these sorts of things and the government taking 25-50% of your income.  And, every item hidden is a violation and a potential for IRS issues.

 

It's all great for them ... but it does have responsibility that goes with it.  There will be growing pains for sure.  It will be interesting what new problems it creates and the learning curve for all sides.

Next position yo be filled on the athletic department. 
 

Director of Athlete Tax Compliance.  

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32 minutes ago, BigRedN said:

My guess is that there will be a whole array of tax issues on all this and violations of tax laws for income generated.  Most kids don't think about these sorts of things and the government taking 25-50% of your income.  And, every item hidden is a violation and a potential for IRS issues.

 

It's all great for them ... but it does have responsibility that goes with it.  There will be growing pains for sure.  It will be interesting what new problems it creates and the learning curve for all sides.

I'm sure the school of accounting can help them out with that.  If I was a star athlete I would try to get sponsored by TurboTax

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