Recruiting Football Talk VII

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#56,732
#56,732
JohnnyD1024 said:
How many of you would be okay if your job told you that for all the hours of work you put in that they will pay for your food and your room and board and your medical, but not actually pay you any income?
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And for a college degree that cost what???
$200,000??

When I was 18-19?
When a degree can earn you a million more over a lifetime verse’s a non-degree?

I would!!!
 
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#56,735
#56,735
MarcoVol said:
This is fake
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#56,742
#56,742
Smyrna ATL Vol said:
Where did I say my clients pay no tax?

I didn’t say that once.

And most successful business owners have many layers and tiers to avoid major tax bills. By major, I mean going from owing $10 million to $5 million. You can do this through cost seg, bonus depreciation, profit sharing, charitable trusts, credits, etc.

LLC holdco
LLC partnership
S-Corp owners
Individual

Four layers to sift through. And all have a purpose. If you audit, you are most likely looking at the bottom level or top level. Rarely it is the middle.

It’s not a dangerous game. It’s knowing the system and working within the tax code provided.

743(b), redemptions, 1031, etc.
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I thought that had been mentioned in the discussion; my apologies if I confused that with you.

I still say it's disingenuous and dangerous to call the IRS "a joke". They have been proven to be a political weapon of the federal government, and the weaponized income generation of the federal government, whose primary concern is to take your money and exert power/control over you.

Undermine that at your own risk.
 
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#56,745
#56,745
MarcoVol said:
You could transfer before the portal and NIL were a thing if you really wanted to.

And kids should be allowed to transfer if unhappy. You have 5-6 years to play college football and that’s it. Make the most of it.
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Not disagreeing at all. I'm saying the ability to transfer at will and as soon as you are in the portal suitors can start waving cash at you is the unrestrained free agency he was talking about. Legitimate transfers are one thing but players jumping ship just to see what pot of gold is out there is another thing is I think is about to come to a head this very cycle. Look at all the QBs that are flocking to the portal right now. I would bet a majority of those don't have a circumstance that makes them currently unhappy short of how much probing the market.
 
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