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Finally, the few college athletes earning millions from NIL may benefit from setting up an LLC to report income on Schedule C of their tax returns, which allows them to deduct other expenses, like ...
A new system for compensating college athletes would be needed to avoid similar challenges in the future; for example, anything that looks like a cap on compensation by, say, the four major ...
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A common refrain exists in most discussions regarding the potential right for NCAA college athletes to be paid for their services: the argument that college are already paid by virtue of their receipt of in-kind benefits including room and board, daily meals, and a full athletic scholarship. According to these commentators, college athletes do ...
Now that college athletes can profit from their name, image and likeness (NIL), they should know those deals for limo rides, free gear and endorsements can come with some strings attached.
A luxury tax in professional sports is a surcharge put on the aggregate payroll of a team to the extent to which it exceeds a predetermined guideline level set by the league. The ostensible purpose of this "tax" is to prevent teams in major markets with high incomes from signing almost all of the more talented players and hence destroying the ...
The NCAA and major conferences, including the SEC and ACC, agreed to a settlement that would include almost $3 billion to current and former athletes.
Athletes in individual sports, such as golf, tennis, table tennis, boxing, kickboxing, and MMA, are not employed by a team and usually earn money primarily through event winnings. This list also does not necessarily reflect actual money collected by the athletes, since some contracts are eventually terminated (usually due to an athlete either ...