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Fran Brown Press Conference Miami Game and other things

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JayCane20 said:
I agree with the first point. Not sure how much all these kids at Cuse are making and I'm sure most is coming directly from a collective anyway - not multiple sources. Now every kid on the team is likely to need a CPA, and as a CPA myself, I can say that is not cheap.

All for the benefit of taking away personal liability and I'm sure 99% of these kids won't understand what they have to do to avoid commingling business funds and assets as personal use, arms-length transactions, and keeping proper records, and how to handle all of that appropriately to avoid a court being able to easily "pierce the veil" in the event they actually need the protection of an LLC.

At most they'll take some write-offs and get to take their SSN and use the EIN when dealing with all of their sponsors and endorsements. Most of them probably going to attempt to write off their Hellcats and depreciate their apartments and get into trouble.
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Exactly. Not saying it can't be beneficial. But that's really on a case by case basis and honestly only going to actually be good for the players who actually are trying to start a company or are high NIL earners, and would obviously require more work on the players part. And sure you're also educating them, but these kids will also learn through like tik Tok and ****, and that's full of bs tax advice on deducting everything in the world. Idk how many vids of that one accounting chick just going through bs tax advice clips of people deducting houses and cars and whatever I've seen. But I'd bet even best case scenario is at least 10% is just going to be worse off from a blanket "everyone gets an LLC" program ...

The point I'm making is saying everyone will have an LLC is just kinda scammy to me and makes me think youre selling an LLC as some secret hack that they don't tell you about... Also maybe this is too cynical but there is also something I don't like a little about the person paying you money being the one like teaching you and helping you form your LLC with the ultimate goal is I guess designed to protect yourself against that company basically lol? Like if they sign an nil deal with your LLC instead of you personally, and you have no personal liability, and wish to break that contract are they really educating you about that and how that basically prevents them from stopping you from transferring?... I mean that does seem like the main benefit unless they are trying to entirely focus this as a tax saving move ... Which I just don't know much I guess about what this REALLY saves, given like 100% of these athletes expenses are covered already ...
 
Felonious Monk said:
Given the tax situation in NY, I can see having whatever it takes to save a buck.
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Yeah maybe that's a good point, forming the LLC somewhere else. But ultimately I don't see how you're really going to save much given your ultimately performing your services in NY. Do we see all these NFL players with unions all having individual LLCs to save on taxes for their pay? No.
 
Calinative said:
Exactly. Not saying it can't be beneficial. But that's really on a case by case basis and honestly only going to actually be good for the players who actually are trying to start a company or are high NIL earners, and would obviously require more work on the players part. And sure you're also educating them, but these kids will also learn through like tik Tok and ****, and that's full of bs tax advice on deducting everything in the world. Idk how many vids of that one accounting chick just going through bs tax advice clips of people deducting houses and cars and whatever I've seen. But I'd bet even best case scenario is at least 10% is just going to be worse off from a blanket "everyone gets an LLC" program ...

The point I'm making is saying everyone will have an LLC is just kinda scammy to me and makes me think youre selling an LLC as some secret hack that they don't tell you about... Also maybe this is too cynical but there is also something I don't like a little about the person paying you money being the one like teaching you and helping you form your LLC with the ultimate goal is I guess designed to protect yourself against that company basically lol? Like if they sign an nil deal with your LLC instead of you personally, and you have no personal liability, and wish to break that contract are they really educating you about that and how that basically prevents them from stopping you from transferring?... I mean that does seem like the main benefit unless they are trying to entirely focus this as a tax saving move ... Which I just don't know much I guess about what this REALLY saves, given like 100% of these athletes expenses are covered already ...
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Its Fran Brown thinking he's making a recruiting pitch on something he knows nothing about and thinking he's doing something.

At the end of the day he's probably going to get kids in trouble owing some kind of tax to the state or forgetting to file their annual report or some kind of articles or something New York requires. Not familiar with their state on all of that stuff. Then they won't be making any money in 4 years and they'll be indebted to the state or ***** up their 1065 or 1120 and and have the IRS on their ***.

Should be case by case and not for everyone. Sure hope there's someone aside from Fran Brown educating the kids on forming an LLC, operating and maintaining the LLC, doing taxes, etc.
 
Brooklyndee said:
Ahhhhhh. The good ole cis tug machine has appointed Fran Brown this time around I see...
Uh Oh Thomas GIF
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Speaking of tugging, Cuse just hired Gattis according to fb scoop
 
Calinative said:
Yeah maybe that's a good point, forming the LLC somewhere else. But ultimately I don't see how you're really going to save much given your ultimately performing your services in NY. Do we see all these NFL players with unions all having individual LLCs to save on taxes for their pay? No.
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You know where they don't have a tax problem? Miami. Unfortunately, they don't have anyone we want.
 
Calinative said:
Not really. He could have just talked about the financial education they will receive. But he specified they'd all get LLCs as if that was some hack to make them superior earners and that if your school isn't helping you do that it's not "for you" as much as they are.

You know what the #1 thing he should have spoke about that ACTUALLY has the largest fundamental impact on any young person when talking financially literacy - ensuring they understand compound interest. If he would have said we are ensuring every student has a Roth IRA instead of saying everyone will have an LLC I'd be saying this dude is 100% correct. But he didn't.
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Honestly I've been banging that drum that competent financial literacy should be required with nil & hes on the right path. Personally I think people are a lil misguided when it comes to the relevance of an llc for the everyday individuals. But I understand his point. I really like that he's emphasizing teaching these kids how to have a future where they don't sabotage himself. But I feel like maybe before he overstates the position he should get a lil more educated himself on the topic. But he wasn't speaking out of a position where he was attempting to trick kids. He has good intentions. I like that.
 
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Brooklyndee said:
Honestly I've been banging that drum that competent financial literacy should be required with nil & hes on the right path. Personally I think people are a lil misguided when it comes to the relevance of an llc for the everyday individuals. But I understand his point. I really like that he's emphasizing teaching these kids how to have a future where they don't sabotage himself. But I feel like maybe before he overstates the position he should get a lil more educated himself on the topic. But he wasn't speaking out of a position where he was attempting to trick kids. He has good intentions. I like that.
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I’ve long agreed and been saying on here it should actually be a requirement for receiving NIL. Honestly it should be a requirement in HS. **** I was saying it should be a requirement to like open trading/retirement account where they can’t even access a certain % (like 20-50% or whatever) until they’re 21 or graduate… Everyone should know about compound interest and how the stock market works.

Right now a lot of young kids are actually more learning through crypto which feels more accessible for them. Problem is that is just more gambling than investing. But if it leads them to having investment and retirement accounts, ultimately that’s okay. And they may lose some early, but hey you learn from your mistakes. I just only commented about the llc thing cause that seems like the kind of thing you say as like a recruiting pitch and some secret hack but not actually beneficial and perhaps detrimental to the majority of their recruits they’ll be telling that to, but the kids won’t know that BECAUSE they don’t have that knowledge yet… like he says that and it sounds like a recruiting pitch. Which it shouldn’t be.
 
Fatboycane said:
Speaking of tugging, Cuse just hired Gattis according to fb scoop
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Honestly he blends in with that community. No shots against anyone in Cuse. But there's a really big Italian community up there. From my understanding it's a lot of family guys from the city go up there once retired. Past that seems a lot of creepers hanging out in carousel mall and armory square. I will say I haven't been there in a long time though. Only so much dinosaur bbq a man can force on himself. Those kinds of communities are serial killer breeding grounds.
 
Brooklyndee said:
Honestly he blends in with that community. No shots against anyone in Cuse. But there's a really big Italian community up there. From my understanding it's a lot of family guys from the city go up there once retired. Past that seems a lot of creepers hanging out in carousel mall and armory square. I will say I haven't been there in a long time though. Only so much dinosaur bbq a man can force on himself. Those kinds of communities are serial killer breeding grounds.
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You just covered most of what I did when I was there working on a contract out of a office there for about 2 months, many years ago. I was in Manhattan and Albany also so not all my time was in Cuse. I like Fran as a coach and a person from what little I know of him. He will be a problem somewhere soon. I don't expect them to win 8 games this season, personally. That might hinder him in the short term for a better job, but maybe someone else see's his potential after the season and still hires him to a better job.
 
Cane30 said:
You just covered most of what I did when I was there working on a contract out of a office there for about 2 months, many years ago. I was in Manhattan and Albany also so not all my time was in Cuse. I like Fran as a coach and a person from what little I know of him. He will be a problem somewhere soon. I don't expect them to win 8 games this season, personally. That might hinder him in the short term for a better job, but maybe someone else see's his potential after the season and still hires him to a better job.
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I'd say he probably has two more years there. It's definitely a stepping stone job for him in my opinion. But we'll have to see how they look without a QB who is capable of making plays. Dino Babers had very much the same EXACT trajectory as Fran Brown at this point in their careers. Dino was the circle jerk coach on here at the time & then we see how that worked out. Plenty of coaches piggy back on the hype of a coaching change.(**** we thought alfraud was gonna be amazing here, & then he hired his DC) Lets see how it all plays out.

Only thing I remember fondly from a particular game there is we had went to ballys for a workout. While we were there I met this fine *** Italian chick that was working out near us. Long and the short of it she introduced me to her daughter who was an engineer at carrier and that same night before lights out I had an interesting night with her and her daughter together... Thinking of it now it's a lil intimidating and slightly disgusting. But in the moment both they fine asses were amusing to say the least
 
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Brooklyndee said:
I'd say he probably has two more years there. It's definitely a stepping stone job for him in my opinion. But we'll have to see how they look without a QB who is capable of making plays. Dino Babers had very much the same EXACT trajectory as Fran Brown at this point in their careers. Dino was the circle jerk coach on here at the time & then we see how that worked out. Plenty of coaches piggy back on the hype of a coaching change.(**** we thought alfraud was gonna be amazing here, & then he hired his DC) Lets see how it all plays out.

Only thing I remember fondly from a particular game there is we had went to ballys for a workout. While we were there I met this fine *** Italian chick that was working out near us. Long and the short of it she introduced me to her daughter who was an engineer at carrier and that same night before lights out I had an interesting night with her and her daughter together... Thinking of it now it's a lil intimidating and slightly disgusting. But in the moment both they fine asses were amusing to say the least
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@JayCane20 this tops twins lol
 
Brooklyndee said:
I'd say he probably has two more years there. It's definitely a stepping stone job for him in my opinion. But we'll have to see how they look without a QB who is capable of making plays. Dino Babers had very much the same EXACT trajectory as Fran Brown at this point in their careers. Dino was the circle jerk coach on here at the time & then we see how that worked out. Plenty of coaches piggy back on the hype of a coaching change.(**** we thought alfraud was gonna be amazing here, & then he hired his DC) Lets see how it all plays out.

Only thing I remember fondly from a particular game there is we had went to ballys for a workout. While we were there I met this fine *** Italian chick that was working out near us. Long and the short of it she introduced me to her daughter who was an engineer at carrier and that same night before lights out I had an interesting night with her and her daughter together... Thinking of it now it's a lil intimidating and slightly disgusting. But in the moment both they fine asses were amusing to say the least
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well **** this post took a turn, hot ****. Props to you sir
 
JayCane20 said:
Its Fran Brown thinking he's making a recruiting pitch on something he knows nothing about and thinking he's doing something.

At the end of the day he's probably going to get kids in trouble owing some kind of tax to the state or forgetting to file their annual report or some kind of articles or something New York requires. Not familiar with their state on all of that stuff. Then they won't be making any money in 4 years and they'll be indebted to the state or ***** up their 1065 or 1120 and and have the IRS on their ***.

Should be case by case and not for everyone. Sure hope there's someone aside from Fran Brown educating the kids on forming an LLC, operating and maintaining the LLC, doing taxes, etc.
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I 100% see y’all’s point, but he did say they are getting financial literacy classes every Wednesday. Y’all are cherry picking one single sentence instead of focusing on the big picture. If they are going to a weekly financial literacy class, they are probably getting the basics of all that. And hopefully it’s something the entire athletic department is doing, not just the football team. Looks like they are partnering with a bank or credit union, so someone there may be giving the classes.
 
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For any athlete bringing in "job like" money from NIL and other avenues, they would be crazy not to have an LLC.
 
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