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Oculus Spirit [82044]
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Associate AD [845]
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Re: NIL & the revenuers. That didn't take long.
Sep 30, 2021, 7:55 AM
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I totally agree——if you want to make money you have to pay
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Orange Blooded [2763]
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Scholarships and schooling haven't changed
Sep 30, 2021, 9:06 AM
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so why would you change anything about them? Tax the ever-living snot out of the NIL deals, and with gusto, but leave the scholarships alone. Wouldn't even be that much money on a national scale, especially if you only taxed the scholarships of kids with NIL deals.
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110%er [9664]
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That article is from 2019. Pre-NIL...***
Sep 30, 2021, 8:01 AM
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Oculus Spirit [82044]
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Recruit [79]
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Re: NIL & the revenuers. That didn't take long.
Sep 30, 2021, 8:04 AM
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To be precise, ALL students are taxed on any amount of the scholarship beyond the tuition (room & board, living expenses, etc.). Any other income is also taxed.
And are the politicians really concerned about fairness ... doubt it! It's just another revenue stream for them.
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Orange Blooded [4095]
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Re: NIL & the revenuers. That didn't take long.
Sep 30, 2021, 10:23 AM
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Room and board are taxed. So are living expenses.
Tuition and required books are not.
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CU Medallion [64590]
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Scholarships funds cannot and should not be taxed...
Sep 30, 2021, 8:30 AM
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In general, scholarship funds cannot be treated as taxable income provided the person receiving the scholarship is pursuing a degree and using the funds for tuition, fees or anything else that the IRS considers a qualified education expense (i.e., books, supplies, computers, etc.) that are required for the program of study.
However, any NIL money that is received is another matter. NIL funds can and absolutely should be treated as taxable income.
As one of my old Econ professors used to point out...TANSTAAFL (There Ain't No Such Thing As A Free Lunch). Everything has some hidden or implicit cost to someone.
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110%er [6825]
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Re: NIL & the revenuers. That didn't take long.
Sep 30, 2021, 8:48 AM
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No new taxes. Did you miss the memo?
Tax income from sponsorship deals - that should already exist. Taxing scholarships, man, that is ugggg
A LOT of student scholarship/assistantships are tied to work programs.
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All-In [25972]
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Re: NIL & the revenuers. That didn't take long.
Sep 30, 2021, 10:21 AM
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That will never pass. They might miss a few votes. That's what it is all about these days.
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Orange Blooded [3639]
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What an idiot
Sep 30, 2021, 2:09 PM
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This stupid politician just punctured himself.
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