From The Desk Of VP & Director Of Athletics Mike Broeker

[dgies9156]

Scholarships are literally not taxable.

The question is whether the "scholarship" fits under the meaning of the academic term or whether it is generically used to hide compensation.

I can see where a strong student that receives a scholarship because of his scholastic achievement and is required to maintain at least a 3.0 average receives a non-taxable scholarship.

But, a basketball player whose scholarship is contingent on his performing as a basketball player who is part of a team that generates millions of dollars for his ownership (aka, the school), is in fact being compensated. If, for example, Chase Ross left the basketball team, would his scholarship be guaranteed?

I doubt it. That's why scholarships are barter transactions. The ballplayers are paid with housing, academic advancement and food for their services.

One analogy: if my company would have provided me a company car and I drove the car for non-business uses (i.e., going to church, taking the children to school etc.), the non-business use is considered compensation. I pay a tax on it!

[#UnleashSean]

What a useless conversation. I don't think any of us need to worry about taxation kn scholarships, and I'm sure marquette handles it quite well for their student athletes.

[Jay Bee]

What a useless conversation. I don't think any of us need to worry about taxation kn scholarships, and I'm sure marquette handles it quite well for their student athletes.

I believe you're being naive

PS- if schools are doing TOO well in this area, that could also result in additional compensation. This is a huge mess (not talking MU specifically) — just a question of when the crap hits the fan.

[BrewCity83]

Sounds like MU's Athletic Dept will want to hire a tax accountant to handle all of the players' tax issues.  Another benefit we can offer our guys.

[willie warrior]

Oh, Willie.  Of course I am all in.  I have saddled up.   And we have been having this argument for 15 years through 3 coaches.  I have remained resolutely positive.  You have remained resolutely negative.

Your negativity is showing by your analysis of what you think I think. Shaka is the right fit for MU. I just think he needs to wake up on what is happening. Call that negative if you want. I believe he could do better
 I have never advocated getting rid of him
I did with the lonesome cowboy and Wojo.
When he starts down a different path, I will bend the knee like you.

[Frenns Liquor Depot]

Sounds like MU's Athletic Dept will want to hire a tax accountant to handle all of the players' tax issues.  Another benefit we can offer our guys.

Today I learned that people who make a million dollars playing basketball need to pay taxes!

[MuMark]

Today I learned that people who make a million dollars playing basketball need to pay taxes!

Perfect........college is supposed to prepare you for the rest of your life.........

Welcome to our world.

[#UnleashSean]

you all realize that Marquette absolutely employs account/tax experts for the Athletics teams right? Right???

[Jay Bee]

you all realize that Marquette absolutely employs account/tax experts for the Athletics teams right? Right???

I don't know what "account/tax experts" are,  but I doubt whatever you think is correct. There is a far divide between support staff who help guide and inform, generally, student-athletes, and a tax professional or expert.

[The Sultan]

I don't know what "account/tax experts" are,  but I doubt whatever you think is correct. There is a far divide between support staff who help guide and inform, generally, student-athletes, and a tax professional or expert.

Yeah, I don't see anyone on the athletics staff that comes close to being a "tax expert."

[#UnleashSean]

Right boys, Marquette obviously doesn't have a system setup to help their student athletes manage all these new challenges with taxes. Completely correct. No doubt about it. Yall have unlocked something that Marquette never foresaw.

[swoopem]

Stevie did everyone's taxes this year

[The Sultan]

Right boys, Marquette obviously doesn't have a system setup to help their student athletes manage all these new challenges with taxes. Completely correct. No doubt about it. Yall have unlocked something that Marquette never foresaw.

Dude, you said they "employ account/tax experts," but when it is pointed out that no one approaching a "tax expert" is employed by the athletic department, you get all indignant?

You overstated it. Take the L and move on.

[Jay Bee]

Right boys, Marquette obviously doesn't have a system setup to help their student athletes manage all these new challenges with taxes. Completely correct. No doubt about it. Yall have unlocked something that Marquette never foresaw.

Help manage and gather info — eg, INFLUCR (so), etc of course. Having a tax expert eg professional as you suggest, no. Huge difference. You want NO business telling SAs  what to put on their tax forms. Tools to manage and information gather, general education - yes. Perhaps you just don't understand the diff, but it's extremely important here

[Uncle Rico]

If you're rich, you don't pay taxes

[Hards Alumni]

Willie's not a fan of anything.

False.  He is a major fan of nonstop bitching.

[#UnleashSean]

Dude, you said they "employ account/tax experts," but when it is pointed out that no one approaching a "tax expert" is employed by the athletic department, you get all indignant?

You overstated it. Take the L and move on.

Wait, do you think the athletic department doesn't have a single accountant?

[The Sultan]

Wait, do you think the athletic department doesn't have a single accountant?

Yes they have business managers and the likely who run the operations.

Do you really think that people who do this work also have the expertise to advise student athletes on taxation issues with NIL?

[#UnleashSean]

Yes they have business managers and the likely who run the operations.

Do you really think that people who do this work also have the expertise to advise student athletes on taxation issues with NIL?

I absolutely believe Marquette has the resources and knowledge to provide the student athletes with taxation issues regarding NIL yes. I would be shocked if a majority of schools didn't.

But I guess we should listen to the dudes on the forum arguing if a scholarship is taxable or not. 

[The Sultan]

I absolutely believe Marquette has the resources and knowledge to provide the student athletes with taxation issues regarding NIL yes. I would be shocked if a majority of schools didn't.

But I guess we should listen to the dudes on the forum arguing if a scholarship is taxable or not. 

"Provide student athletes with taxation issues regarding NIL" is certainly a lot different than "tax experts."

I would certainly think that they have resources that would direct them to actual "tax experts" that could assist them - maybe even a handful of Marquette alumni in the area. But no, I don't think the person who runs the business operations of the department is doling out a bunch of tax advice to the student athletes.

[79Warrior]

I don't know what "account/tax experts" are,  but I doubt whatever you think is correct. There is a far divide between support staff who help guide and inform, generally, student-athletes, and a tax professional or expert.

Correct. No entity wants to be liable in providing tax advice. They may provide outside referrals, that is about it.

[dgies9156]

If you're rich, you don't pay taxes

Not according to government statistics, which show the Top 10% of all taxpayers pay between 70% and 80% of taxes collected.

[WhiteTrash]

Not according to government statistics, which show the Top 10% of all taxpayers pay between 70% and 80% of taxes collected.

Stoopid facts 

[PJDunn]

I nominate Orlando O'Hare to provide tax guidance for our student athletes.

[mug644]

Stevie did everyone's taxes this year

With needing to apply for any extensions. And including Oso and Tyler, since they had MU-related income in 2024.

Stevie can do it all.