NIL tax lawyer Tag

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Student-Athlete NIL Taxes: 5 Essential Tips for Compliance

https://www.youtube.com/shorts/zYjgcHlIZS0 The landscape of college sports changed forever with the introduction of Name, Image, and Likeness (NIL) deals. Student-athletes finally have the opportunity to profit from their hard work and personal brands. However, there is a critical financial reality that many young athletes overlook: the IRS is watching the scoreboard, too. Many student-athletes mistakenly believe NIL money is simply "free money." In this edition of "5 on Fridays," NILTaxLawyer Mark Milton breaks down the hard truth: NIL earnings are taxable income. Failing to plan for Uncle Sam's share can lead to serious financial penalties down the road. Here are the five essential tax...

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One Big Beautiful Bill Act’s Impact on NIL Student-Athletes

The One Big Beautiful Bill Act (OBBBA), signed into law in July 2025, marks a significant shift in federal tax policy. While OBBBA is best known for its “No Tax on Tips” and “No Tax on Overtime” provisions, several lesser-known sections directly affect college athletes earning income through Name, Image, and Likeness (NIL) deals. Since 2021, NCAA student-athletes have been allowed to receive compensation for their NIL from third parties outside their colleges and universities. As the NIL landscape continues to evolve—shaped by NCAA rules and IRS guidance—the OBBBA introduces new tax implications that student-athletes should understand. NIL Income: 1099 vs. W-2...

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Navigating Missouri’s NIL Landscape: A Guide for Student-Athletes and Families 

In the ever-evolving world of college athletics, few changes have been as transformative as the introduction of Name, Image, and Likeness (NIL) rights.   For years, the debate over compensating student-athletes was a centerpiece of sports news, culminating in a series of legal and legislative shifts that forever altered the financial landscape.   At Milton Law Group, we understand that for student-athletes, their families, and high school recruits, navigating this new era requires a clear understanding of the rules. Here is a breakdown of Missouri’s progressive NIL landscape.  NIL History  After years of lobbying by collegiate student-athletes to be compensated for their athletic performance,...

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