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OFFER DETAILS AND DISCLOSURES

LibertyTax Tax Preparation

EN-PERSONA

EN-LINEA

DETALLES DE LA OFERTA Y DIVULGACIONES

As a student athlete, NIL can have an affect on your taxes, but many athletes are unaware of the potential consequences for students and parents. We're providing free resources to help you understand the impact of receiving NIL payments.

What are the tax implications for Name Image Likeness (NIL)?

NAME, IMAGE & LIKENESS (NIL)

Since 2021, the NCAA has allowed student athletes the opportunity to benefit from their Name, Image, and Likeness (NIL) without jeopardizing their NCAA eligibility. That's why we're providing free resources to help students understand the impact of receiving NIL payments.

HOW DOES NIL AFFECT STUDENT ATHLETE TAXES?

WHAT'S THE MINIMUM TO QUALIFY?

HOW DOES THE IRS KNOW ABOUT YOUR NIL INCOME?

WHAT ARE MY OPTIONS FOR FILING TAXES?

TAX TIPS FOR FIRST-TIME TAX FILERS

WHAT COUNTS AS NIL INCOME?

Student athletes can gain income through NIL in a number of different ways. They can profit off endorsements, apparel sales, corporate partnerships, charitable appearances, teaching camps, and starting their own businesses. They can also be paid for developing their own merchandise, promoting products or services, and appearing at events due to their personal celebrity. &ldquo;NIL rights&rdquo; allow college athletes to profit from sponsorship deals, autograph fees, social media, promotional appearances, and marketing their own brands. Social media and brand endorsement deals are the most popular revenue source for college athletes.

AUTOGRAPH SIGNING

RECEIVING CARS

CONTENT CREATION

EVENT APPEARANCES

MERCHANDISE SALES

PRODUCT PROMOTION

TEACHING CAMPS

RECEIVING GIFTCARDS

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FREQUENTLY ASKED QUESTIONS

Taxes can be difficult if you choose to file alone, or with the wrong partner. At Liberty Tax, we're committed to building long-term relationships with our clients across the country. Get answers to common questions below, and contact us if you need any additional information.

ACCESS OUR NIL PARENT RESOURCES

FIND A NEARBY LIBERTY TAX

NIL: Tax Implications for Name Image Likeness