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Author Topic: Trevor Lawrence  (Read 2019 times)

Online RYou

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Trevor Lawrence
« on: July 15, 2021, 08:51:48 AM »
The Clemson QB had his $24.1 million signing bonus, 100%, put into a Bitcoin / cryptocurrency account.  That's ballsy.

Sequon Barkley, PSU / NY Giants had $10 Million in endorsement income, 100% went to Bitcoin.
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Offline Bob H.

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Re: Trevor Lawrence
« Reply #1 on: July 15, 2021, 10:23:43 AM »
I wonder how Lawrence is going to pay the taxes on his signing bonus.  I doubt that the IRS takes bitcoin.
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Offline mspart

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Re: Trevor Lawrence
« Reply #2 on: July 15, 2021, 03:20:20 PM »
Yeah, those are gutsy moves.  Hopefully he can sell enough bits to make the IRS payment when it comes due.

mspart
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Re: Trevor Lawrence
« Reply #3 on: July 16, 2021, 08:38:04 AM »
Quote from: mspart on July 15, 2021, 03:20:20 PM
Yeah, those are gutsy moves.  Hopefully he can sell enough bits to make the IRS payment when it comes due.

mspart

Likely had at least 20% withheld upfront.  While independent contractors, they are still deemed employees subject to withholding tax, and even Work Comp insurance (NFL clubs self insure and by excess stop loss, though even excess is hard to find these days due to concussion injury).
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