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Finally, the few college athletes earning millions from NIL may benefit from setting up an LLC to report income on Schedule C of their tax returns, which allows them to deduct other expenses, like ...
A new system for compensating college athletes would be needed to avoid similar challenges in the future; for example, anything that looks like a cap on compensation by, say, the four major ...
Her current seniors were the first group of collegiate athletes to benefit from NIL, or "Name, Image and Likeness," enabling them to earn money from sponsorships, endorsements and social media ...
A common refrain exists in most discussions regarding the potential right for NCAA college athletes to be paid for their services: the argument that college are already paid by virtue of their receipt of in-kind benefits including room and board, daily meals, and a full athletic scholarship. According to these commentators, college athletes do ...
College athletes could soon get dramatically different paychecks. At issue is a lawsuit called House v. the National Collegiate Athletics Association (NCAA), a class action that seeks to change ...
Athletes in individual sports, such as golf, tennis, table tennis, boxing, kickboxing, and MMA, are not employed by a team and usually earn money primarily through event winnings. This list also does not necessarily reflect actual money collected by the athletes, since some contracts are eventually terminated (usually due to an athlete either ...
Alston, 594 U.S. ___ (2021), was a landmark United States Supreme Court case concerning the compensation of collegiate athletes within the National Collegiate Athletic Association (NCAA). It followed from a previous case, O'Bannon v. NCAA, in which it was found that the NCAA was profiting from the namesake and likenesses of college athletes ...
As tax day approaches, parents of high school athletes with social media and "name, image, and likeness" deals need to make sure that the IRS doesn’t come for their children’s assets.