With Name, Image, and Likeness (NIL) deals, student-athletes now have the opportunity to earn money while still in school. However, without proper financial planning, NIL earnings can disappear quickly, leaving little for future expenses like college tuition, investments, and post-sports career opportunities. As a parent, you play a crucial role in helping your child develop
Written by Pat Brown, MBA As NIL (Name, Image, and Likeness) opportunities continue to expand for student-athletes, many are finding themselves with substantial income from endorsement deals, brand partnerships, and sponsorships. With this new revenue stream comes the need to establish a solid business structure to handle the financial, legal, and tax aspects of these
With the rise of Name, Image, and Likeness (NIL) opportunities for student-athletes, many parents are left wondering how to handle the tax implications of their child’s newfound income. While NIL presents exciting financial opportunities, it also brings new tax responsibilities that require careful planning and attention. Understanding these tax obligations is crucial to avoid surprises
