NIL Income & Taxes (What Athletes NEED to Know)

NIL deals are changing college sports forever — but what many athletes don’t realize is that NIL income can also create a BIG tax bill if you are not prepared. In this video, I break down the truth about NIL income and taxes in a simple way that athletes, parents, and families can actually understand. From self-employment taxes to business expenses, bookkeeping, and saving for taxes, this is information every athlete should know BEFORE spending that NIL money. Need help with Tax Planning, Tax Filing, Accounting or Tax Resolution? Book a Tax Strategy Call with my team: https://www.realestatetaxcpa.com/work... If you find this video helpful, like it, subscribe, and drop your questions in the comments. Share with another business owner who wants to save on taxes, keep more of the money they make and build wealth! CHAPTERS: 00:00 Introduction 01:28 What is NIL 02:13 Scholarships 03:42 Non-Employee Compensation 04:56 Royalties 06:06 IRS Documents 08:13 Filing NIL Taxes with the IRS 11:42 Tax Planning for your NIL Income 12:56 Conclusion Connect: Website: https://www.realestatetaxcpa.com/ LinkedIn:   / klrondenocpa   Facebook:   / klrondenocpa   Instagram:   / realestatecpa   TikTok:   / realestatecpa   #Taxes #TaxExpert #NIL #CollegeAthletes #SportsBusiness #NILIncome #NILTaxes #BusinessTaxes #TaxStrategy #NILAthlethes #Wealth #KeishaLRondenoCPA