What Your CPA Needs to Know About Your NIL Deals

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 […]

How to Track NIL Expenses So Your Tax Pro Can Maximize Deductions

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 […]