In Reply to: One more thing .... posted by TheHappyBurgermeister on February 06, 2024 at 11:11:08
Im not sure I fully understand your question/commentsm, however, for UCLA football players wrt what you are describing would be deemed a de minimis exception for the tax authority. Just like if you go on a biz trip and get a per diem and hotel for you job (and not a vacation). If they are employees, they would be taxed on their income.
If you set this up as a for profit entity, it would be a business expense (at the corporate level, not employees), and you'd write it off against the revenue. You'd most likely have lease payments to a stadium, for UCLA assume (or sublet) the RB lease. Revenue for this is not going to be a problem we are talking significantly more money being allocated to football. There would be a nice payment for the leasing of the U brand, like Fanatics does with UCLA for gear, just much greater.
The question is whether each of the 30ish schools are run by a central agency or each school is run by a specific group (say Wasserman or Larry Fink).
I dont know this for a fact, but "training" for an accountant is NOT deductible (I do know this for a fact), but if your empluyment is a football player (or 100m sprinter), I wouldnt be surprised if that IS deductible, bc that's directly related to your business.