Kolek planning to go pro
I was happy to see this thread back to the top of the board as I thought maybe there was a discussion about a "new" stat that may or may not reflex the true value of a player. FYI, I am not sure this new one really shows that Kolek is so much better than everyone else.Instead, in true Scoop fashion, it morphed into a discussion on taxation. Well done!! Just one factual correction on the taxation point, your first ~$13K of earnings are tax free from federal income taxes (assuming you are not claimed as a dependent on someone else's return).
Yes, very happy that Tyler is making some money off of NIL. $5,000 for a brief commercial is pretty good for a 20 year old. Beats a paper route.Figure 15% for Federal income taxes ($750); since he is an independent contractor, he has the privilege of paying not only FICA and Medicare at 7.65 % plus the match of 7.65 % or a total of 15.3 % ($765); figure Wisconsin income tax of 5% ($250); and maybe an agent takes 10% ($500).Once Tyler realizes his $5000 gig nets him $2735, I hope he's still as enthusiastic.Great lesson in economics 101 without even having to take the class. Silver lining---------may turn him into a lifelong Republican.
Yes, very happy that Tyler is making some money off of NIL. $5,000 for a brief commercial is pretty good for a 20 year old. Beats a paper route.
He’s 22.