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Ohio St. wrestler wins NCAA title, AD cashes in

Discussion in 'Sports and News' started by Baron Scicluna, Mar 25, 2014.

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  1. BenPoquette

    BenPoquette Active Member

    Yes, they currently are. All of it...tuition, room, food, books, etc...all tax exempt. This is why I'm not sure these players are thinking this through. They are going to be employed. Their tax liabilities will be substantial.
     
    BenPoquette, Mar 31, 2014
    #37
  2. BenPoquette

    BenPoquette Active Member

    The IRS page on this:

    http://www.irs.gov/publications/p970/ch01.html
     
    BenPoquette, Mar 31, 2014
    #38
  3. Baron Scicluna

    Baron Scicluna Well-Known Member

    You're assuming the athletes will get the same amount that they get now with the scholarship. Who's to say that their union wouldn't negotiate more? It might cost Notre Dame an additional $20,000 per athlete, but,hey, maybe they'll get NBC to pay a little more in their next TV contract.
     
    Baron Scicluna, Mar 31, 2014
    #39
  4. Baron Scicluna

    Baron Scicluna Well-Known Member

    If I'm reading that correctly, doesn't that say that room and board are already taxable? Which means athletes should already be paying taxes on part of the scholarship.
     
    Baron Scicluna, Mar 31, 2014
    #40
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