1099-NEC
A tax form commonly used to report nonemployee compensation. Receipt does not by itself determine final tax treatment.
Athlete tax glossary.
Plain-language orientation only—not tax advice or a determination of how a term applies to you.
Estimated tax
Periodic payments that may apply when enough tax is not withheld. A professional should determine amount and timing.
Noncash compensation
Products, services, travel, equity, cryptocurrency or other value received instead of cash.
Multistate income
Income connected to activities in more than one state. Filing rules vary.
Schedule C
A federal form commonly used to report profit or loss from a sole proprietorship.
Business entity
A legal structure such as an LLC or corporation. Formation does not automatically create a particular tax result.
W-9
A form used to provide taxpayer information to a payer. Send it only through an appropriate secure process.
Withholding
Tax retained from a payment and sent to a taxing authority.
Extension
Additional time to file a return; generally not additional time to pay tax due.
Engagement letter
The written agreement defining a professional’s scope, responsibilities, fees and limitations.