Key Tax Considerations and Planning for Student-Athletes
TBD
This course is $0 with these passes:
Description
The recent settlement in House v. NCAA has opened the door for direct payments by schools to student-athletes and implemented a structure similar to professional sports. While this settlement further opens up financial opportunities for student-athletes, it amplifies the need for significant federal and state tax planning for these athletes.
Generally, this settlement ends the long-standing amateurism model regarding student-athletes. As a result, some states are enacting laws to offer certain tax breaks to compete with states that have no state income taxes. This forces student-athletes to consider the tax implications, reporting requirements, and available tax planning options in light of the new structure and the enactment of laws by certain states in response to the settlement.
Tax advisers for athletes must keep in mind the various federal, state, and potential issues stemming from the House v. NCAA settlement, and its impact on NIL agreements and direct payments from schools to student-athletes.
Listen as our authoritative panel examines the House v. NCAA settlement and new structures in compensating student-athletes, federal and state tax challenges, reporting requirements, and tax planning for student-athletes.
Presented By
Bio for Annie Attorney; loves horses and arguments
This is a bio for Big Boat. Big Boat is an avid reader and unicyclist.
This is a bio for speaker, Roller Coaster. Roller Coaster enjoys walks on the beach and pizza with pineapple.
Date + Time
- event
- schedule
1:00 p.m. ET./10:00 a.m. PT
I. House v. NCAA settlement framework
II. Tax considerations for student-athletes
A. Federal tax considerations
B. State tax law developments and considerations
III. Types of Income and Related Tax Considerations
A. Sponsorship and service income
B. Cash awards
C. Royalty income
D. In-kind income
VI. Best practices for counsel and advisers
The panel will discuss these and other key issues:
- Current rules and regulations allowing student-athletes the ability to endorse goods and services in light of House v. NCAA settlement
- New structures and standards regarding direct payments to student-athletes
- Types of NIL deals and key tax considerations for student-athletes
- Navigating the federal tax rules, reporting requirements, and available tax planning strategies
- Key state tax considerations for student-athletes
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