The Soapbox

757

Joined: 06/20/2009 Posts: 4103
Likes: 6668


So who is going to pay the income taxes?


Athletes receive luxury cars maybe even houses for their families as an endorsement deal. They are now going to have to pay Federal income tax, full Social Security (schedule SE) and California income taxes on those items that they received as compensation? They are independent contractors for the companies that provided it? I’m not a tax lawyer, so someone help me out? I see this being like “The Price is Right” where people win a bunch of luxury prizes that they can’t begin to pay the taxes on.

(In response to this post by CharlestonSC)

Posted: 09/18/2019 at 09:53AM



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Current Thread:
 
  
No discussion of CA legislature giving the NCAA the Heisman? -- CharlestonSC 09/18/2019 08:52AM
  What about the High School kids? -- 757 09/18/2019 10:53AM
  Understand the sentiment but strongly disagree -- fishhoo 09/18/2019 10:46AM
  So who is going to pay the income taxes? -- 757 09/18/2019 09:53AM
  The amount of money in college sports is absurd. -- hokie in cville 09/18/2019 09:22AM
  I think we passed the point of abuse long ago -- WahooMatt05 09/18/2019 09:00AM

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