The 1890 Initiative

[Archy1221]

31 minutes ago, runningblind said:

Do you get taxed for lunch your work provides, or swag? I don't and I work for a large company who would get audited for that sort of thing, so I don't think that's accurate.

Speaking of taxes, I wonder if the schools in states with zero state income tax are playing that card when it comes to NIL funding as a differentiator when NIL is similar across a few schools for a recruit.  
Obviously, program fit, quality of program, etc….are biggest factors, but now that money is involved and we are talking hundreds of thousands of dollars in some cases, schools in some states could have a slight advantage.   

[runningblind]

5 minutes ago, Archy1221 said:

Speaking of taxes, I wonder if the schools in states with zero state income tax are playing that card when it comes to NIL funding as a differentiator when NIL is similar across a few schools for a recruit.  
Obviously, program fit, quality of program, etc….are biggest factors, but now that money is involved and we are talking hundreds of thousands of dollars in some cases, schools in some states could have a slight advantage.   

That's a good point, but probably lost on a lot of kids.

 

18 minutes ago, BigRedBuster said:

Technically, you should.  But, it's obviously not enforced much.  There are things I've wanted to do for employees and was told...."well, we will have to include that in their income then".

Gotcha.  Maybe the larger the company the easier it is to get away with it then.  They do official yearly presents (a blanket or jacket etc), that I'm sure are done properly but then my local office cooks us lunch or provides coffee, I think just happens under the radar.

[BigRedBuster]

24 minutes ago, runningblind said:

Gotcha.  Maybe the larger the company the easier it is to get away with it then.  They do official yearly presents (a blanket or jacket etc), that I'm sure are done properly but then my local office cooks us lunch or provides coffee, I think just happens under the radar.

Yeah...We'll give employees hats and shirts and I'll cook for the employees every once in a while.  That's not the issue.  Where it's an issue is if maybe we have a company cafeteria and it's a true benefit to the employee because they can eat there every day for free.  Or, let's say you work at a law firm that requires suits every day and they buy all your expensive suits for work.  Those situations are considered a true benefit and should be taxed.

[runningblind]

8 minutes ago, BigRedBuster said:

Yeah...We'll give employees hats and shirts and I'll cook for the employees every once in a while.  That's not the issue.  Where it's an issue is if maybe we have a company cafeteria and it's a true benefit to the employee because they can eat there every day for free.  Or, let's say you work at a law firm that requires suits every day and they buy all your expensive suits for work.  Those situations are considered a true benefit and should be taxed.

That makes more sense.

[Archy1221]

29 minutes ago, BigRedBuster said:

  Where it's an issue is if maybe we have a company cafeteria and it's a true benefit to the employee because they can eat there every day for free.

That could still be non taxable if the benefit of the free cafeteria is to the employer even if the employee is eating for free.   

[MyBloodIsRed16]

did anyone see the NIL deal that the kid from Florida made.  He was drafted by the Bears and it came out that whoever he did the deal with snuck in a %15 of his pre-tax NFL earnings for 25 years!!.  They are going to court

 

[gobiggergoredder]

18 minutes ago, MyBloodIsRed16 said:

did anyone see the NIL deal that the kid from Florida made.  He was drafted by the Bears and it came out that whoever he did the deal with snuck in a %15 of his pre-tax NFL earnings for 25 years!!.  They are going to court

 

 

Florida legislator says Bears DT Gervon Dexter's NIL deal violated law (msn.com)

 

Quote

Dexter, a second-round draft pick, agreed to pay Big League Advance Fund (BLA) 15% of his pre-tax NFL earnings for the next 25 years in exchange for a one-time payment of $436,485 in 2022

 

[ECisGod]

2 hours ago, runningblind said:

Do you get taxed for lunch your work provides, or swag? I don't and I work for a large company who would get audited for that sort of thing, so I don't think that's accurate.

A one-off lunch would not be taxed but providing multiple meals per day 7 days a week would be considered a fringe benefit by the IRS.  Same with swag.  If your employer gives you a coffee mug or shirt or something small it wouldn't be taxable, but with the amount of gear handed out by Adidas/Nike/Under Armour to everyone in the athletic department it would likely be taxable.

[Archy1221]

4 hours ago, gobiggergoredder said:

 

Florida legislator says Bears DT Gervon Dexter's NIL deal violated law (msn.com)

 

 

These loans happen in minor league baseball.   Elly De La Cruz (Reds phenom signed one). 

[ColoradoHusk]

6 hours ago, Archy1221 said:

These loans happen in minor league baseball.   Elly De La Cruz (Reds phenom signed one). 

Yeah, I think Real Sports on HBO did a profile on one guy/company who will “invest” in a minor league baseball player and pay him more than typical wages in exchange for a percentage of future wages. It does give the young/minor league player a more livable wage early in their career, but critics have pointed out that these companies seem to prey on young Latin players who may not know what they are getting into. 

[ECisGod]

Dartmouth basketball team wants to unionize.  Ivy league does not give athletic scholarships, so it may be interesting.

 

Dartmouth basketball players seek to unionize with college 'carefully considering' petition - CBSSports.com

[Mavric]

Kris Brown no longer running The Big Red Collaborative.  Considering basically nothing has been heard out of them for months (a year?), it seems like that endeavor is pretty much gone.  Leaving 1890 as the only operating collective for Husker sports.