ColoradoHusk Posted January 23, 2022 Share Posted January 23, 2022 12 minutes ago, SouthLincoln Husker said: Tax write-off I think the IRS recently ruled that donations to athletic programs can't be used as tax write offs anymore. Either way, A&M created an LLC with those "donations" and then make payments to the A&M recruits as a NIL. Quote Link to comment
SouthLincoln Husker Posted January 23, 2022 Share Posted January 23, 2022 15 minutes ago, ColoradoHusk said: I think the IRS recently ruled that donations to athletic programs can't be used as tax write offs anymore. Either way, A&M created an LLC with those "donations" and then make payments to the A&M recruits as a NIL. It was a joke. You can not donate to an individual for a write-off. You can to a university club. It's a fine line with NIL funds as Universities can not take control of these funds. Thus probably the use of an LLC that is separate from the university. Quote Link to comment
krc1995 Posted January 23, 2022 Share Posted January 23, 2022 1 hour ago, SouthLincoln Husker said: It was a joke. You can not donate to an individual for a write-off. You can to a university club. It's a fine line with NIL funds as Universities can not take control of these funds. Thus probably the use of an LLC that is separate from the university. Well gosh dang. Thanks for the learnin Quote Link to comment
SouthLincoln Husker Posted January 23, 2022 Share Posted January 23, 2022 7 hours ago, krc1995 said: Well gosh dang. Thanks for the learnin Your welcome Quote Link to comment
huskered17 Posted January 23, 2022 Share Posted January 23, 2022 If I'm a booster and have plenty of money, {which I don't } I give to what ever group is gathering money, for whatever recruit, we are trying to land. I do it for my school, not for some kind of return for my money, other than getting better players. There still are boosters who do it, for the love of their schools, not all of them, but still enough out there that do. jmho GBR!!! Quote Link to comment
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