‘23 LSU transfer OT Zalance Heard (Tennessee)

#4,126
#4,126
Frankwillie87 said:
I'm going to disagree that an athlete making 7 figure deals with multiple states potentially claiming nexus over their income doesn't warrant a CPA. At the very least it would be preventative.

You also need to take into account the type of expenses that are actually deductible as an "athlete" or as the face of an NIL deal. Then there's, nondeductibility of illegal expenses, gift tax forms for family...
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Don’t think there are too many signing 7 figure deals
 
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#4,131
#4,131
Devo182 said:
Their situations aren't complicated enough to warrant it.

But I'm sure many get weaseled into it...and many CPAs these days are also tied to "wealth management services" 😒 A far bigger scheme.

Just hope many are getting honest advice and aren't taken like so many before them. There are a lot of weasels out there.
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We’re talking 7 figure contracts here.

Certainly room for a good accountant or tax attorney to ensure things are structured so as little as possible is surrendered to the State.

It is absolutely the prudent thing to do, and perfectly legal and within their right.
 
#4,134
#4,134
Jackcrevol said:
wait a minute. I thought he had accepted, signed, and deal was done. Just waiting for announcement? lots of contrary info in this one.
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Signed his SEC papers(means if he plays in SEC has to be at TN), verbally agreed to NIL deal is what I’ve heard. Obviously also committed to the coaches.
 
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#4,136
#4,136
MountainDooley said:
I’m sure other schools are willing to pay. Just maybe not as much as us. However, if we are offering more than everyone else. It’s possible the hold out could be an attempt to have us bid against ourselves just to get it over with. I can’t remember the specifics but I remember some baseball commentators saying big spending teams like the Yankees and Dodgers bid against theirselves at times with some of their big contracts.
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There’s been a dead period for the last week.
 
#4,139
#4,139
Ericvol2096 said:
I need to research it better but there is some SEC paperwork you file which locks you into one SEC school. It’s a real thing, but I need to grasp a better understanding of its purpose.
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It is probably the indemnity paperwork you have to sign with the league office that prevents you for suing them for crappy refs.

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#4,143
#4,143
Ericvol2096 said:
I need to research it better but there is some SEC paperwork you file which locks you into one SEC school. It’s a real thing, but I need to grasp a better understanding of its purpose.
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Thanks for the explanation. I had no clue.

Wonder if that's what Lane had kids sign from the portal.
 
#4,145
#4,145
Jackcrevol said:
wait a minute. I thought he had accepted, signed, and deal was done. Just waiting for announcement? lots of contrary info in this one.
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Don't put your reputation on the line by accepting the drivel shared online. When you hear something from the player or UT you can go for it. The mental exercises for about the last 100 pages has been nothing but hearsay. It is one thing to question, another to take shots at a prospect, before or after he suits up that is not based on documented facts. They WILL exist in time.

I am getting more worried that he has negotiated a deferred announcement, but that while we are waiting he and his family are reading this thread. Might give me pause if an equivalent offer is out there with no attacks from their fanbase. Fool me once is in play, especially if they were advised to read the thread on Joe this season.
 
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