2026 Recruiting

jjv0004

All-SEC
Dec 13, 2017
1,124
1,773
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Greenville, SC
Haynes and young were at the top of their group. Ak Dear was the number 2 rb I think.
I should have been more specific. I am saying what I think Crowell will become. Haynes and Young have been very disappointing. If Crowell is Bijon Robinson, he blows all of our running backs not named Derrick Henry, Marc Ingram, Eddie Lacey, Trent Richardson, Najee Harris, etc. out of the water.
 
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TiderJack

Hall of Fame
Jul 9, 2010
13,125
8,840
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Inverness, AL
I should have been more specific. I am saying what I think Crowell will become. Haynes and Young have been very disappointing. If Crowell is Bijon Robinson, he blows all of our running backs not named Derrick Henry, Marc Ingram, Eddie Lacey, Trent Richardson, Najee Harris, etc. out of the water.
I think you can say that about Haynes but Young has not had his chance yet. We will see this year. I have seen Crowell's sophomore highlights and he is the real deal.
 
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dtgreg

All-American
Jul 24, 2000
3,632
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Tuscaloosa
www.electricmonkeywrench.com
So is anybody on here a tax specialist? I don't know if California has a way to disallow these things, but I believe if, prior to receiving your first NIL or NFL contract, you set up a LLC taxed as an S Corp and a separate charity/foundation, You could conceivably never pay a dime in taxes.

Take a very small salary (or disbursements) from your charity into which all your earnings go and then pay all your friends "appearance fees" at your football camps and they do the same for you, which go back into the LLC and / or charity. Borrow money at low interest to live on. What am I missing?
 

4Q Basket Case

FB|BB Moderator
Staff member
Nov 8, 2004
10,403
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So is anybody on here a tax specialist? I don't know if California has a way to disallow these things, but I believe if, prior to receiving your first NIL or NFL contract, you set up a LLC taxed as an S Corp and a separate charity/foundation, You could conceivably never pay a dime in taxes.

Take a very small salary (or disbursements) from your charity into which all your earnings go and then pay all your friends "appearance fees" at your football camps and they do the same for you, which go back into the LLC and / or charity. Borrow money at low interest to live on. What am I missing?
I’m not a tax specialist. But there’s no way the IRS won’t get its hands on its share. Generally speaking, you can delay the pound of flesh, but you can’t avoid it altogether.

In the circumstances you cite, my guess would be either that the “loans” disbursed for “living expenses” would constitute taxable income.

That’s what happens if you try to borrow money and secure the loan with assets held in an IRA.

Alternatively, the S-Corp would have a bunch of revenue, but no expenses, and the S-Corp’s shareholders would owe tax on that.

Another possibility would be disallowing the S-Corp’s deduction for charitable contributions to a “ charity “ whose activities are governed by the owners of the S-Corp.

The IRS will eventually get its money. The only exception I know of is the step-up in basis that heirs get when the original owner does.
 
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dtgreg

All-American
Jul 24, 2000
3,632
2,495
282
Tuscaloosa
www.electricmonkeywrench.com
I’m not a tax specialist. But there’s no way the IRS won’t get its hands on its share. Generally speaking, you can delay the pound of flesh, but you can’t avoid it altogether.

In the circumstances you cite, my guess would be either that the “loans” disbursed for “living expenses” would constitute taxable income.

That’s what happens if you try to borrow money and secure the loan with assets held in an IRA.

Alternatively, the S-Corp would have a bunch of revenue, but no expenses, and the S-Corp’s shareholders would owe tax on that.

Another possibility would be disallowing the S-Corp’s deduction for charitable contributions to a “ charity “ whose activities are governed by the owners of the S-Corp.

The IRS will eventually get its money. The only exception I know of is the step-up in basis that heirs get when the original owner does.
I appreciate the answer but I would like weigh-in from a billionaire tax advisor. Not that these guys are close to being billionaires, but you get my drift.
 

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