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Ohio State QB C.J. Stroud gifts teammates $500 Express gift cards so they can 'look fly'

Nitt1300

Nitt1300

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Ahead of Ohio State football's season-opening game against Notre Dame, quarterback C.J. Stroud wants to make sure his teammates are looking good walking into Ohio Stadium.

In a post-practice speech, the Ohio State redshirt sophomore quarterback told the team that he was giving each of them $500 gift cards to Express to buy suits ahead of the team's meeting with the Fighting Irish.

"I just wanted to do something for the team," said Stroud, who is a brand ambassador for Express along with wide receiver Jaxon Smith-Njigba. "So I got everybody $500 gift cards to go to Express, get y'all own suits, man, make sure you're looking fly.

"Make sure ya'll really get some suits, man. Look fly, man. Make sure we all look like a team."


Guess he didn't come to tOSU to play school

Ohio State QB C.J. Stroud gifts teammates $500 Express gift cards so they can 'look fly' (yahoo.com)
 
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NittPicker

NittPicker

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I also wouldn't be shocked if some of the visiting recruits received a gift card handshake. It's a hard thing to trace.

College football 2022.......
 
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NittPicker

NittPicker

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BobPSU92 said:
So stroud bought all of those gift cards at face value with his own money?
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Apparently Stroud and Smith-Njigba are brand ambassadors for the company. My guess is Express gave them the cards with instructions to publicize the gift as much as possible. NIL, baby!!! Even Day got into the act by praising the maturity of Stroud. It's really just a marketing scheme by Express.
 
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BobPSU92

BobPSU92

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NittPicker said:
Apparently Stroud and Smith-Njigba are brand ambassadors for the company. My guess is Express gave them the cards with instructions to publicize the gift as much as possible. NIL, baby!!! Even Day got into the act by praising the maturity of Stroud. It's really just a marketing scheme by Express.
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Within all of this NIL. o_O horse-a$$, would Express be allowed to give stroud the gift cards? Should we expect an ncaa investigation here?
 
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NittPicker

NittPicker

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Ludd said:
The 80’s called, they want their terminology back.
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Looking McFly. From the 80s.....

 
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GrimReaper

GrimReaper

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BobPSU92 said:
Within all of this NIL. o_O horse-a$$, would Express be allowed to give stroud the gift cards? Should we expect an ncaa investigation here?
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Perfectly okay. Stroud has NIL deal with Express, so the gift cards are compensation.

Were I in Stroud's position I'd insist that the comp be in cash and that there is no requirement that I wear Express ****.
 
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blion72

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GrimReaper said:
Perfectly okay. Stroud has NIL deal with Express, so the gift cards are compensation.

Were I in Stroud's position I'd insist that the comp be in cash and that there is no requirement that I wear Express ****.
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what is the taxable income flow on this? what legal entities are taking the deductions? when you win $500 in a casino, they report that as taxable income to you. not sure there would be any difference. NIL does not eliminate taxable income.
 
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GrimReaper

GrimReaper

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blion72 said:
what is the taxable income flow on this? what legal entities are taking the deductions? when you win $500 in a casino, they report that as taxable income to you. not sure there would be any difference. NIL does not eliminate taxable income.
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Pretty straightforward: Taxable income is the face value ($500) times the number of cards distributed. Entity taking the deduction would be Express (or some affiliate).
 
E

Erial_Lion

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blion72 said:
what is the taxable income flow on this? what legal entities are taking the deductions? when you win $500 in a casino, they report that as taxable income to you. not sure there would be any difference. NIL does not eliminate taxable income.
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What Casino is reporting a $500 win?
 
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PSU12046

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For personal income tax purposes, the term “compensation” includes salaries, wages, commissions, bonuses and incentive payments whether based on profits or otherwise, fees, tips and similar remuneration received for services rendered as an employee or casual employee, agent or officer of an individual, partnership, business or nonprofit corporation, or government agency, whether directly or through an agent, and whether in cash or in property.

Compensation paid in any medium other than cash is valued at its fair market value. Examples of a medium other than cash include, but are not limited to:
  • Foreign currency;
  • Check or other negotiable instruments;
  • Freely transferable readily marketable obligations or other cash equivalents;
  • Property interests;
  • Below-market-rate loans; and/or
  • Discharge of liabilities.
Taxable employee compensation is not limited to remuneration received for positive action, remuneration that is contractually enforceable or remuneration paid directly by the employer. Taxable employee compensation may also include:

  • Tips and other amounts, over which the employer does not have the control, receipt, custody, or payment;
  • A sum in excess of salary given an athlete for signing with a team or other bonus.
 
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blion72

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Erial_Lion said:
What Casino is reporting a $500 win?
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actually I won $750 at MGM in 2014 and they reported it. I did not have great records on losses that would offset, so it hit my income on return. Not the biggest deal in the world, and if you are in the bracket where effectively no tax, then it would be moot. However, for the big NIL earners it would be noticeable.
 
Tom_PSU

Tom_PSU

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blion72 said:
actually I won $750 at MGM in 2014 and they reported it. I did not have great records on losses that would offset, so it hit my income on return. Not the biggest deal in the world, and if you are in the bracket where effectively no tax, then it would be moot. However, for the big NIL earners it would be noticeable.
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You have no idea how NIL works. First off, these kids don’t give a 🐀 *** about taxes. If something happens, as long as their playing well a booster will pick up the taxes, and that just projects the problem into the next year. And so on and so forth. Eventually their huge NFL signing bonus takes care of everything. Now if that doesn’t happen as planned, then obviously this is why we need three million more IRS agents to police college football. It’s all part of the master plan, just relax and stop over thinking it.
 
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GrimReaper

GrimReaper

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Tom_PSU said:
You have no idea how NIL works. First off, these kids don’t give a 🐀 *** about taxes. If something happens, as long as their playing well a booster will pick up the taxes, and that just projects the problem into the next year. And so on and so forth. Eventually their huge NFL signing bonus takes care of everything. Now if that doesn’t happen as planned, then obviously this is why we need three million more IRS agents to police college football. It’s all part of the master plan, just relax and stop over thinking it.
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So you're suggesting that these kids don't file returns for the portion of their scholarships that are taxable?
 
Tom_PSU

Tom_PSU

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GrimReaper said:
So you're suggesting that these kids don't file returns for the portion of their scholarships that are taxable?
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I don’t believe that’s what I said. I never intimidated that players wouldn’t file. What I said was that in all probability any tax deficiencies owed for a current year would be covered by the jock sniffing adults that are financing the NIL. This prolongs any payments for additional monies into the next year. And so on and so forth. Thus keeping the players fat, dumb, happy, playing and worry free from the IRS. If people or entities are going to lay out substantial cash in the first place to placate their egos regarding the continued success of what has become a quasi professional enterprise, then paying any taxes on same would be a logical continuum.

In any event, my post was actually a sarcastic comment on the absurdity college football has become regarding the financial remuneration of players. Something I’m not inherently opposed to, just what it has devolved into.
 
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GrimReaper

GrimReaper

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Tom_PSU said:
I don’t believe that’s what I said. I never intimidated that players wouldn’t file. What I said was that in all probability any tax deficiencies owed for a current year would be covered by the jock sniffing adults that are financing the NIL. This prolongs any payments for additional monies into the next year. And so on and so forth. Thus keeping the players fat, dumb, happy, playing and worry free from the IRS. If people or entities are going to lay out substantial cash in the first place to placate their egos regarding the continued success of what has become a quasi professional enterprise, then paying any taxes on same would be a logical continuum.

In any event, my post was actually a sarcastic comment on the absurdity college football has become regarding the financial remuneration of players. Something I’m not inherently opposed to, just what it has devolved into.
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And when Joe Booster picks up the tax on his NIL payment, that amount (the tax) becomes taxable income to the player.....and the tax on the tax on the tax and so one. If the NIL amounts are in the three and four figure ranges, probably not an issue. Once the amounts climb into the five figure ranges, taxes are more material.

People who've made enough to finance large NIL amounts aren't as cavalier with their money as many make them out to be. And they certainly don't take kindly to getting burned.
 
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PSU12046

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And you don't think Sean Clifford should watch his IRS tax returns on his Limitless NIL Agency? He should just blow it off and let some big boosters pick all of that up for him?
 
N

NOVABuck45

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NittPicker said:
Even Day got into the act by praising the maturity of Stroud. It's really just a marketing scheme by Express.
Click to expand...

He's a pretty mature kid. Obviously not on the level of Sean Clifford, but in fairness, he's also about 15 years younger ;)
 
ApexLion

ApexLion

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Nitt1300 said:
Ahead of Ohio State football's season-opening game against Notre Dame, quarterback C.J. Stroud wants to make sure his teammates are looking good walking into Ohio Stadium.

In a post-practice speech, the Ohio State redshirt sophomore quarterback told the team that he was giving each of them $500 gift cards to Express to buy suits ahead of the team's meeting with the Fighting Irish.

"I just wanted to do something for the team," said Stroud, who is a brand ambassador for Express along with wide receiver Jaxon Smith-Njigba. "So I got everybody $500 gift cards to go to Express, get y'all own suits, man, make sure you're looking fly.

"Make sure ya'll really get some suits, man. Look fly, man. Make sure we all look like a team."


Guess he didn't come to tOSU to play school

Ohio State QB C.J. Stroud gifts teammates $500 Express gift cards so they can 'look fly' (yahoo.com)
Click to expand...


Remember we don’t play school at The Oh-ia University.
 
EPC FAN

EPC FAN

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Nitt1300 said:
Ahead of Ohio State football's season-opening game against Notre Dame, quarterback C.J. Stroud wants to make sure his teammates are looking good walking into Ohio Stadium.

In a post-practice speech, the Ohio State redshirt sophomore quarterback told the team that he was giving each of them $500 gift cards to Express to buy suits ahead of the team's meeting with the Fighting Irish.

"I just wanted to do something for the team," said Stroud, who is a brand ambassador for Express along with wide receiver Jaxon Smith-Njigba. "So I got everybody $500 gift cards to go to Express, get y'all own suits, man, make sure you're looking fly.

"Make sure ya'll really get some suits, man. Look fly, man. Make sure we all look like a team."


Guess he didn't come to tOSU to play school

Ohio State QB C.J. Stroud gifts teammates $500 Express gift cards so they can 'look fly' (yahoo.com)
Click to expand...
and Joe sat Curtis Enis for taking a suit.
 
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