Old guy Posted November 3, 2023 Share Posted November 3, 2023 4 hours ago, cgeldmacher said: Money donated to a university that is used to pay a coach - TAX DEDUCTIBLE Money donated to a NIL fund like the BFV - NOT TAX DEDUCTIBLE Money paid directly to a player for services through something like the Billiken Exchange - NOT TAX DEDUCTIBLE, but may be able to be written off as a business expense Cgeldmacher, I do not want to insult you or put you down, this is absolutely not my intention. However, you just do not know how the IRS places limits on tax deductions based upon the adjusted gross income reported in a couple's return for the year. What you say is correct and true but applicable only to married couples with a total adjusted gross income below $204,000 who are not covered by an employer's retirement plan. If your reported AGI for the year is over $214,000 and you are not covered by an employer's retirement plan, you cannot take deductions on your income for that year. There is a sharp progressive reduction in terms of deductibility of income for married couples with an AGI between $204,000 and $214,000. These are the IRS rules for 2022, I have not found the rules for 2023 so far. I agree that lots of people are covered by employer's retirement plans, and these plans can be made to allow increased retirement account employer contributions. However, contributions above certain limits into these retirement plans are also treated as taxable income. The reason the employers provide both non taxable and taxable funds into their retirement plans is to give executives a larger Combined Gross Income level, a fixed portion of which is treated as taxable income, or in, the case of grants or options, is just is treated as a ledger entry until the grant or option is exercised and then it is treated as taxable income for the year the grant or option is exercised. I know this is complicated. So, kindly tell me if you really believe that a married couple making an adjusted gross income below $204,000 for a year can make a significant contribution to the salary of a HC and take a tax deduction for it in their return. They surely can contribute some money for this purpose and deduct it from their taxes, but the amount they can contribute is like a drop of water added to the sea, particularly when the guy's salary is $2.5 M a year. The big donors just give their money away because they want to do it and because they can do it, tax deductions based upon income have no meaning to them, period. Quote Link to comment Share on other sites More sharing options...
Taj79 Posted November 4, 2023 Share Posted November 4, 2023 What is "cost of attendance" and how is that figured? Driving to the school to enroll? And what is "average student athlete enhancement costs?" The porn side of me wants to discuss raunchy things but I know that's not it. Would that be the cost of support staff like trainers, weight coaches, and so on? Quote Link to comment Share on other sites More sharing options...
Slu let the dogs out? Posted November 4, 2023 Share Posted November 4, 2023 Not sure if these last 2 posts are real or if it was just my gummy finally kicking in. RiseOfTheBillikens likes this Quote Link to comment Share on other sites More sharing options...
Old guy Posted November 4, 2023 Share Posted November 4, 2023 30 minutes ago, Slu let the dogs out? said: Not sure if these last 2 posts are real or if it was just my gummy finally kicking in. My post is real, you can check the IRS rules for deduction limits related to income here: https://www.irs.gov/retirement-plans/plan-participant-employee/2022-ira-contribution-and-deduction-limits-effect-of-modified-agi-on-deductible-contributions-if-you-are-not-covered-by-a-retirement-plan-at-work Quote Link to comment Share on other sites More sharing options...
Lord Elrond Posted November 4, 2023 Share Posted November 4, 2023 Rules are different for business deductions, it has to be related to what you do as a business to count. Pay a guy NIL and he cuts a instagram video for you, you should be ok. Pay him and he does nothing for your business, it’s not an allowable deduction. Quote Link to comment Share on other sites More sharing options...
cheeseman Posted November 4, 2023 Share Posted November 4, 2023 10 hours ago, Westy03 said: Buying tickets to entertain clients is not deducible. I never said buying tickets were tax deductible. Quote Link to comment Share on other sites More sharing options...
Old guy Posted November 4, 2023 Share Posted November 4, 2023 Of course you are entirely correct Lord Elrond, but how many of the board members or the larger group of Bills fans have their own businesses? And even among those that have their own businesses, some of these businesses may not have enough capital to spend in NILs. I assume the vast majority of the members of this board, and the larger group of Bills fans are employed somewhere or retired. By the way when you are dealing with businesses, deductions do not really apply, what is applicable to businesses is business expenses which is a totally different animal and has nothing to do with individual deductions. Retired people may have lots of money, or not. If they are living out of pensions or Social Security, generally they are likely not to have the necessary money to drop it in NILs. The group of fans that is employed somewhere is the group to which the IRS income limitations over deductions apply to. And by the way, I think this little discussion applies directly to problems encountered in raising money for NILs. Quote Link to comment Share on other sites More sharing options...
Slowry Posted November 4, 2023 Share Posted November 4, 2023 On 11/2/2023 at 11:11 PM, Compton said: On average over the last three seasons we've been ranked better than 75th. At least in NET and KenPom. Those players were here before NIL exploded to what is is. Think we’ll be better than 75 this year? Hopefully we will but do you honestly see that happening? Quote Link to comment Share on other sites More sharing options...
3star_recruit Posted November 4, 2023 Share Posted November 4, 2023 4 hours ago, Slowry said: Those players were here before NIL exploded to what is is. Think we’ll be better than 75 this year? Hopefully we will but do you honestly see that happening? No, but I wouldn't expect us to be in the top 75 after losing six seniors, NIL or not. Quote Link to comment Share on other sites More sharing options...
Compton Posted November 4, 2023 Share Posted November 4, 2023 11 hours ago, Slowry said: Those players were here before NIL exploded to what is is. Think we’ll be better than 75 this year? Hopefully we will but do you honestly see that happening? When you said you thought SLU had chosen "to live in the 75-150 range as a team" I thought you meant longer term than just the upcoming season. I haven't seen this team play yet, but we're certainly not projected to be top 75. Quote Link to comment Share on other sites More sharing options...
Slowry Posted November 4, 2023 Share Posted November 4, 2023 5 hours ago, Compton said: When you said you thought SLU had chosen "to live in the 75-150 range as a team" I thought you meant longer term than just the upcoming season. I haven't seen this team play yet, but we're certainly not projected to be top 75. I do think without majors changes we will live in that area for a while. It takes a lot for SLU to be a top 50 program without NIL. Unless they change what’s going on I don’t see many high level recruits coming here when there is money on the table somewhere else. Quote Link to comment Share on other sites More sharing options...
Pistol Posted November 15, 2023 Author Share Posted November 15, 2023 On 10/2/2023 at 11:08 PM, Pistol said: New offer: Bryson Cokley - SG, 6-6, 190 - Charlotte, NC (The Christ School) - AAU: Upward Stars (Adidas 3SSB) - Twitter: @b_cokley1 Offers: Saint Louis, Mississippi State, Wake Forest, Wyoming, Tulane, San Diego, Northern Illinois, Georgia State, Appalachian State, UC-San Diego. Interest: VCU, Temple, Florida Atlantic, Florida International, Milwaukee, Chattanooga, Mercer, East Tennessee State, James Madison, Texas State, Louisiana-Monroe, North Alabama, New Mexico State, High Point. Latest News: Cokley received an offer from SLU. (10/2/23) Scouting Report: Cokley is a wing with good size, smarts, and high-level scoring ability. He has a solid, consistent shot from outside and deep range. He rebounds his position well. He also scores off the dribble and finishes above the rim. He moves well off the ball to find scoring opportunities. He's a pest on defense. Cokley was previously committed to Wake Forest but reopened his recruitment. Cokley is announcing his commitment on Friday. GMU is the latest to offer and he was just there last weekend, so that would be my guess. Quote Link to comment Share on other sites More sharing options...
Slufan10 Posted November 27, 2023 Share Posted November 27, 2023 Is Jayden Nicholson playing anywhere? Class of 2023 from Vashon. He was a 3 star recruit but it doesn't look he committed anywhere. Quote Link to comment Share on other sites More sharing options...
Pistol Posted November 27, 2023 Author Share Posted November 27, 2023 1 hour ago, Slufan10 said: Is Jayden Nicholson playing anywhere? Class of 2023 from Vashon. He was a 3 star recruit but it doesn't look he committed anywhere. From what I heard, he stopped playing basketball altogether. He was a super hyped player coming into HS and his stock declined every year. Still, he could be playing somewhere now if he really wanted to play. Coach314 likes this Quote Link to comment Share on other sites More sharing options...
thetorch Posted January 8 Share Posted January 8 The staff made a new offer over the weekend. Pistol likes this Quote Link to comment Share on other sites More sharing options...
laker119 Posted January 8 Share Posted January 8 19 minutes ago, thetorch said: The staff made a new offer over the weekend. Is it just me or does this dude look like a stud? Idk if I just had low expectations before watching the highlight vid or what Quote Link to comment Share on other sites More sharing options...
cheeseman Posted January 8 Share Posted January 8 2 minutes ago, laker119 said: Is it just me or does this dude look like a stud? Idk if I just had low expectations before watching the highlight vid or what What are you willing to pay for him? billiken_roy likes this Quote Link to comment Share on other sites More sharing options...
3star_recruit Posted January 8 Share Posted January 8 3 minutes ago, cheeseman said: What are you willing to pay for him? We're his best offer at the moment. The high majors will come sniffing around come spring. Not only can he create his own offense, but he's a good defender. His mediocre free throw shooting will limit his high major options, though. Quote Link to comment Share on other sites More sharing options...
thetorch Posted January 8 Share Posted January 8 15 minutes ago, laker119 said: Is it just me or does this dude look like a stud? Idk if I just had low expectations before watching the highlight vid or what Not sure if he is a stud. He's a 1 on 1 player. Has good %s from 3 but doesn't shoot many. He won't be able to get to the basket at will, or finish at the D-1 level. If he is a high level defender that helps. Usually these types of guys struggle being a 3rd or 4th option on a team, but aren't good enough to be a #1 option. He may just be a bigger Sincere. Not a bad player but not an all conference performer either. Hopefully the next coaching staff takes a look at him as well. Quote Link to comment Share on other sites More sharing options...
TRN Posted January 8 Share Posted January 8 54 minutes ago, thetorch said: The staff made a new offer over the weekend. Kid has zero chance of ever having his name pronounced correctly by Guy. Quote Link to comment Share on other sites More sharing options...
Pistol Posted January 8 Author Share Posted January 8 Mostapha El Moutaouakkil - SG, 6-6, 195 - Rabat, Morocco (Indian River State College, FL) - Twitter: @YBS_BIGMO Offers: Saint Louis, Southern Indiana, Southeastern Louisiana. Interest: Creighton, UAB, South Florida, Murray State, Evansville, Cleveland State, Milwaukee, Georgia State, Texas State, Marshall, Georgia Southern, Sam Houston State, New Mexico State, Montana, Austin Peay, Texas-Arlington, Tarleton State, Longwood, Fairleigh Dickinson, Long Island, Le Moyne, Northwestern State, Texas A&M-Corpus Christi. Latest News: El Moutaouakkil received an offer from SLU. (1/8/24) Scouting Report: El Moutaouakkil is a high-scoring guard with good length and creativity. He's an efficient scorer from the field but struggles from the FT line. He shoots a few three-pointers per game but prefers going to the rim and is slippery, with nice handles. He's a solid defender and rebounds his position well at both ends. He is originally from Morocco but attended HS at Eaglecreek in Denver, CO before heading to juco. Quote Link to comment Share on other sites More sharing options...
OkieBilliken Posted January 8 Share Posted January 8 7 minutes ago, Pistol said: Mostapha El Moutaouakkil - SG, 6-6, 195 - Rabat, Morocco (Indian River State College, FL) - Twitter: @YBS_BIGMO Offers: Saint Louis, Southern Indiana, Southeastern Louisiana. Interest: Creighton, UAB, South Florida, Murray State, Evansville, Cleveland State, Milwaukee, Georgia State, Texas State, Marshall, Georgia Southern, Sam Houston State, New Mexico State, Montana, Austin Peay, Texas-Arlington, Tarleton State, Longwood, Fairleigh Dickinson, Long Island, Le Moyne, Northwestern State, Texas A&M-Corpus Christi. Latest News: El Moutaouakkil received an offer from SLU. (1/8/24) Scouting Report: El Moutaouakkil is a high-scoring guard with good length and creativity. He's an efficient scorer from the field but struggles from the FT line. He shoots a few three-pointers per game but prefers going to the rim and is slippery, with nice handles. He's a solid defender and rebounds his position well at both ends. He is originally from Morocco but attended HS at Eaglecreek in Denver, CO before heading to juco. He apparently had a lousy game on Saturday in Daytona, 7-16 shooting, 15 pts, well below his season average as #20 IRSC was upset. If I would have know of the offer I would have driven down to see him. I might go see him when they play in Melbourne next Wednesday. Quote Link to comment Share on other sites More sharing options...
Pistol Posted January 8 Author Share Posted January 8 10 minutes ago, OkieBilliken said: He apparently had a lousy game on Saturday in Daytona, 7-16 shooting, 15 pts, well below his season average as #20 IRSC was upset. If I would have know of the offer I would have driven down to see him. I might go see him when they play in Melbourne next Wednesday. I have a lot of questions about the offer- particularly the timing, given the downward spiral the program is in right now. I wonder what the sales pitch sounds like when other coaches are telling recruits our HC is going to be gone next year. JMM28 likes this Quote Link to comment Share on other sites More sharing options...
3star_recruit Posted January 8 Share Posted January 8 8 minutes ago, Pistol said: I have a lot of questions about the offer- particularly the timing, given the downward spiral the program is in right now. I wonder what the sales pitch sounds like when other coaches are telling recruits our HC is going to be gone next year. Parker returning and us going on a run will be the sales pitch. "You're the missing piece." We don't have anything else to refute the "our HC is going to be gone" narrative. This February is the most important month of Coach Ford's Billiken career. Quote Link to comment Share on other sites More sharing options...
JMM28 Posted January 8 Share Posted January 8 4 minutes ago, 3star_recruit said: Parker returning and us going on a run will be the sales pitch. "You're the missing piece." We don't have anything else to refute the "our HC is going to be gone" narrative. This February is the most important month of Coach Ford's Billiken career. If Ford is counting on Sincere Parker to turn a season around, he's fuoked. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.