Tax Implications of Name, Image & Likeness (NIL) for NCAA Student Athletes

Overview

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Name, image and likeness opportunities are creating new tax challenges for college and high school athletes and the professionals who advise them. Navigate the federal, state and local tax implications of NIL arrangements, revenue-sharing payments, endorsements, appearances and other income-generating activities. Examine income reporting requirements, deductible business expenses, estimated tax obligations and entity structure considerations that can affect an athlete’s tax position. Explore multistate filing requirements, income-sourcing issues and "jock tax" considerations, along with unique concerns facing international student-athletes. Gain practical planning strategies to help athletes and their families manage compliance and make informed tax decisions.

Speaker:

Ben Cahill, CPA, MBT - CliftonLarsonAllen LLP (CLA)

Ben Cahill, CPA, MBT, leads CLA's professional and college sports practice, which serves more than 400 current and retired professional athletes and coaches. Ben joined CLA in 2011 and has more than 10 years of experience working with professional and collegiate athletes.

Highlights

Federal income tax treatment of NIL and revenue-sharing payments.
Income reporting requirements and deductible business expenses.
Estimated tax obligations and tax-planning considerations.
Entity structure considerations for NIL activities.
State and local tax reporting, multistate income sourcing and "jock tax" considerations.
Tax and reporting issues affecting international student-athletes.

Prerequisites

Foundational understanding of federal income taxation.

Designed For

Tax professionals, CPAs, accountants and financial advisors who advise college athletes receiving NIL income, revenue-sharing payments, endorsement income, or other athletics-related compensation.

Objectives

Identify common federal income tax reporting requirements for NIL income and revenue-sharing payments
Evaluate deductible expenses, estimated tax obligations and planning opportunities for college athletes
Recognize entity structure considerations associated with an athlete’s NIL activities
Determine when NIL income may create multistate filing and income-sourcing obligations
Recognize tax and reporting considerations that may apply to international student-athletes.