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Rich Rodriguez (official thread of last laughs)

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Not only am I a trained accountant - but I have my degree from THE Ohio State University. (Although as a retired SW Engineer this may be the first time I have ever used that degree.)

IIRC the 4 mil would be income, but the 4 mil he pays WVU would also be a deduction. So it would be a wash.
 
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Oh8ch;1040518; said:
Not only am I a trained accountant - but I have my degree from THE Ohio State University. (Although as a retired SW Engineer this may be the first time I have ever used that degree.)

IIRC the 4 mil would be income, but the 4 mil he pays WVU would also be a deduction. So it would be a wash.
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At least 4 Million WVU fans just went - well bah! :wink2:
 
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Oh8ch;1040518; said:
Not only am I a trained accountant - but I have my degree from THE Ohio State University. (Although as a retired SW Engineer this may be the first time I have ever used that degree.)

IIRC the 4 mil would be income, but the 4 mil he pays WVU would also be a deduction. So it would be a wash.
Click to expand...

what would be the deduction?
 
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I could be wrong as well, but since the obligation was created by his employment contract I am pretty sure it would work that way regardless of it being his choice.

If he had been paid 4 mil by WVU last year and then was asked to give it all back because he left early it would be pretty unfair to say it was income coming in but not a deduction going back out. And if it is a deduction that should stand regardless of where the money comes from.
 
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Oh8ch;1040581; said:
I could be wrong as well, but since the obligation was created by his employment contract I am pretty sure it would work that way regardless of it being his choice.

If he had been paid 4 mil by WVU last year and then was asked to give it all back because he left early it would be pretty unfair to say it was income coming in but not a deduction going back out. And if it is a deduction that should stand regardless of where the money comes from.
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I check in on a perfectly good interweb thread trashing our main rivals coach and an accounting seminar breaks out. :tongue2:

Can we just get back to making fun of his hair plugs? or his wife's?
 
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Oh8ch;1040581; said:
I could be wrong as well, but since the obligation was created by his employment contract I am pretty sure it would work that way regardless of it being his choice.

If he had been paid 4 mil by WVU last year and then was asked to give it all back because he left early it would be pretty unfair to say it was income coming in but not a deduction going back out. And if it is a deduction that should stand regardless of where the money comes from.
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that doesn't produce any additional income. if someone pays the buyout for him, in essence they are giving him 4 million dollars. if he was simply repaying 4 million already earned that would be completely different. if anything this just shows how retarded the tax system is.
 
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