Visa, Immigration, and Tax Compliance The NIL era has unlocked incredible opportunities for student-athletes, but international athletes face a unique set of challenges. While U.S.-born athletes can often jump straight into NIL deals, international athletes must navigate an extra layer of complexity involving visas, immigration rules, and cross-border taxes. One mistake can put not just […]
With the recent NCAA rules allowing Name, Image, and Likeness (NIL) earnings, student-athletes face new and exciting financial opportunities. However, managing these earnings involves substantial tax responsibilities. Here’s exactly what your Certified Public Accountant (CPA) needs to know about your NIL deals to help manage your taxes effectively. Sources of Income Clearly outline all sources […]
Navigating the Legal Maze When Name, Image, and Likeness (NIL) became a reality, student-athletes gained new opportunities to profit from their talent and hard work. But with those opportunities came a patchwork of rules and regulations that can be difficult to navigate. Between state laws, NCAA guidelines, and university-specific policies, staying eligible requires more than […]
Who Does What in Protecting Your Interests The Name, Image, and Likeness (NIL) era has transformed student-athletes into entrepreneurs. Alongside training, classes, and competition, athletes now negotiate endorsement deals, social media campaigns, and sponsorship opportunities. With so much at stake, many athletes ask the same question: Do I need an agent, an attorney, or both? […]
Risks of Going Without Legal Review The rise of Name, Image, and Likeness (NIL) has opened doors for student-athletes across the country. From local sponsorships to national brand partnerships, opportunities to earn money while competing have never been greater. But with these new opportunities comes a serious challenge: understanding and protecting yourself in legally binding […]
For student-athletes earning income through Name, Image, and Likeness (NIL) deals, effectively tracking expenses is crucial. Keeping detailed records helps your tax professional maximize your deductions, reducing your taxable income and saving you money. Here’s a guide to effectively track your NIL expenses. Understanding Deductible Expenses Before tracking expenses, understand what qualifies as deductible: Create […]