When you start earning money from Name, Image, and Likeness (NIL) deals, it’s tempting to put your earnings into whatever sounds exciting—maybe a single stock, a friend’s business idea, or even crypto. But smart investing isn’t about betting everything on one option. It’s about spreading risk. That’s where diversification comes in. Just like in sports, […]
Staying Safe from Bad Actors The rise of Name, Image, and Likeness (NIL) has created exciting opportunities for student-athletes. From local businesses offering free meals to national brands proposing endorsement deals, the chance to earn money while competing has never been greater. Unfortunately, the boom in NIL has also attracted bad actors—scammers and opportunists who […]
Expanding Their Role in Your Success For many student-athletes, the NIL era is their first real experience with contracts, income, and business opportunities. It’s exciting—but also overwhelming. Suddenly, you’re not just an athlete, you’re a business owner. That raises big questions: How do you handle taxes? Should you form an LLC or another business entity? […]
Timing and Rules for Younger Athletes The NIL (Name, Image, and Likeness) era isn’t just for college athletes anymore. In many states, high school athletes are also allowed to profit from sponsorships, social media, endorsements, and appearances. While the chance to earn money at a young age is exciting, it also raises important questions about […]
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 […]