Class of 2020 C Eddie Lampkin (TX) TRANSFERRING TO SYRACUSE (4/2/24)

[skeeter223]

You do know that MLB players have to pay taxes in the different states that they play their games in, right?

Lampkin coming to Syracuse!

Lampkin not coming to Syracuse!

Our NIL is a disaster and our HC and AD are idiots. And Lampkin has no honor.

Lampkin coming to Syracuse!

Big mysterious donor is awesome. Our AD and HC are NOT idiots.

Lampkin is okay after all.

Let’s talk about taxes.

And somehow, "Let's Make a Deal" became one of the most intriguing parts of the discussion.

 

[bnoro]

Well, Mike's about as plugged-in as anyone, but I hear ya. I just thought his insights on transfer-portal commitments, etc., were interesting.

I'll defer to Dash on this one.

 

[dasher]

I'll defer to Dash on this one.

You ruin ...oh wait

 

[cuseallday]

You're the best, dasher. This forum is fun!!!

 

[miamicuse]

Will there be some sort of a formal announcement if and when Lampkin makes a final decision? I assume if he signs elsewhere there will be an IG post with a "COMMITTED" on that other school. However if he decides to stay will there be an IG post "FRESHLY RECOMMITTED"?

 

[RealMcNeil]

Will there be some sort of a formal announcement if and when Lampkin makes a final decision? I assume if he signs elsewhere there will be an IG post with a "COMMITTED" on that other school. However if he decides to stay will there be an IG post "FRESHLY RECOMMITED"?

“CHECK CLEARED”

 

[SWC75]

Lampkin coming to Syracuse!

Lampkin not coming to Syracuse!

Our NIL is a disaster and our HC and AD are idiots. And Lampkin has no honor.

Lampkin coming to Syracuse!

Big mysterious donor is awesome. Our AD and HC are NOT idiots.

Lampkin is okay after all.

Let’s talk about taxes.

He's going to Texas ?!?

 

[im4cuse]

All the answers here.

https://syracuse.imodules.com/controls/email_marketing/view_in_browser.aspx?sid=1632&gid=2&sendId=5278295&ecatid=124&puid=ac5ab809-7006-4841-8e8f-cf03b79c9951

 

[Cuse12]

What the hell is going on? Just popped back to the forum from a weekend off and have 40 more pages of something happening or maybe happening.

Can I just say, I frickin love / hate this modern day of recruiting so much. Right now I hate it lol

 

[Sherman20]

Pro athletes must have a nightmare tax situation. They need an army of accountants. Ughh.

Awwwww I feel so bad for them. How do they ever cope?! lol.

 

[llandz]

In defense of our degenerativity (I think I made that up) 6 years ago we didn't have the portal and the NIL roller coaster.

Yea, that is not it. Good try though. It has made it even worse, but so much more has changed.

 

[jordoo]

All the answers here.

https://syracuse.imodules.com/controls/email_marketing/view_in_browser.aspx?sid=1632&gid=2&sendId=5278295&ecatid=124&puid=ac5ab809-7006-4841-8e8f-cf03b79c9951

I have a conflict otherwise I might go to this.

 

[cali315phan]

Yea, that is not it. Good try though. It has made it even worse, but so much more has changed.

Nothing is ever as it used to be. Such is the world.

 

[llandz]

Not entirely true. If I spent x number of days in another state I paid income tax in that state . I had to file seven separate state returns one year. It should all be detailed on your W2 or 1099 if the payer is documenting properly.

NY city commuters from NJ all know this. But you get credit in one of the states, so you are not double taxes. And with that I am not going to continue to change this to a tax forum from a player forum. Back to your original programming.

 

[PeteCalvin]

You guys and gals are famous!! Well done!!

 

[PeteCalvin]

I wouldn’t worry about the IRS. I’d worry about Governor Hochul. She’s gonna want Albany’s slice. Hope Kadary thought about that, being an NYC kid and going to the Johnnie’s.

This was sarcasm, BTW.

Sorry, back to the Lamp discussion.

 

[721Comstock]

This was sarcasm, BTW.

Sorry, back to the Lamp discussion.

 

[Lukeyloo]

Another source saying we saved the day. But that person also said, let's get this kid to Syracuse asap

Uh oh… everything Cuse is off Eddie’s IG…. Umm. Boy this off season is something if he flipped back

the post that started it all ^^

Orangezoo

 

[Niastri]

Omg, kill me now. How has this turned into a state income tax discussion. Good grief.

Apparently, Lampkin was at least partially swayed by the "no income tax in Texas" argument. In NY he'll pay 6.85% state income tax at his income level... But the fact is (and this thread proves it) most people don't understand taxes AT ALL. So for a kid who doesn't know anything about taxes, the idea of paying NO TAXES to the state must seem compelling. Little does he know how little that matters to his overall financial picture.

When I was a brand new financial planner, the new hire instructor made us memorize the Federal income tax brackets... He said "if you can even tell them the tax brackets, you're going to seem like a freaking wizard to most people!"

I laughed out loud, and then I used it in my next meeting. My potential clients had wide eyes like they were astonished I could be so knowledgeable! Lol

Red should bring a qualified financial planner to his NIL meetings with potential recruits. I could absolutely wow him with his much money he was going to have, state income tax bedamned.

So anyway, that's how we got on the topic of state tax.

Frankly, I'm on the side of thinking you can't legally make his income earned from NIL in Syracuse to be from Texas.

Closing a kid by doing tricky accounting and then getting him audited seems like a bad plan.

 

[Niastri]

Lampkin coming to Syracuse!

Lampkin not coming to Syracuse!

Our NIL is a disaster and our HC and AD are idiots. And Lampkin has no honor.

Lampkin coming to Syracuse!

Big mysterious donor is awesome. Our AD and HC are NOT idiots.

Lampkin is okay after all.

Let’s talk about taxes.

So... Is this your Final Answer?

 

[grepal]

They have advisers for all of that. It's not like they download the H&R Block home version to do. The minor league player might suffer since they probably don't have all the resources to handle those things.

Yes, but it is a problem people like me do not have.

 

[44Wallace]

This was sarcasm, BTW.

Sorry, back to the Lamp discussion.

Hochul will understand when Lampkin claims he didn't know what a computer is and therefore didn't know about paying his taxes.

 

[DoctorBombay]

Lampkin coming to Syracuse!

Lampkin not coming to Syracuse!

Our NIL is a disaster and our HC and AD are idiots. And Lampkin has no honor.

Lampkin coming to Syracuse!

Big mysterious donor is awesome. Our AD and HC are NOT idiots.

Lampkin is okay after all.

Let’s talk about taxes.

 

[Col. Bleep]

Meanwhile...how's this for money?

And the player is pretty good...but not really great.

Great Osobor gets $2 million from Washington boosters in largest-known NIL deal

There’s a new bellwether in college basketball NIL guarantees.

nypost.com

 

[dasher]

Meanwhile...how's this for money?

And the player is pretty good...but not really great.

Great Osobor gets $2 million from Washington boosters in largest-known NIL deal

There’s a new bellwether in college basketball NIL guarantees.

nypost.com

A ridiculous amount for that player. Maybe for any player.