NIL Tax Services for Student-Athletes

focus on what matters.

Name, Image, and Likeness (NIL) opportunities have created new income streams for student-athletes across the country. Many athletes are now earning income from brand partnerships, sponsorships, social media promotions, and appearances.

What many athletes and families don’t realize is that NIL income is typically treated as self-employment income, meaning taxes are usually not withheld when payments are received.

Without proper planning, this can lead to unexpected tax bills, penalties, or reporting issues.

At Lighthouse Accounting & Consulting, we help student-athletes understand how NIL income is taxed, how to report it properly, and how to stay compliant as opportunities grow.

  • Who This Service Is For:

    This service is designed for student-athletes earning income through NIL deals, sponsorships, appearances, or online content creation.

    In many cases, athletes receive payments as independent contractors and may receive Form 1099s from brands or marketing agencies. This means the athlete is responsible for tracking income, reporting it properly, and paying the appropriate taxes.

    We work with student-athletes and their families who want clarity around their NIL tax responsibilities and want to ensure everything is handled correctly.

  • What’s Included:

    Our NIL tax services focus on helping student-athletes properly report NIL income and stay compliant with tax rules.

    This typically includes tax preparation that accurately reports NIL income, identifying legitimate deductions related to NIL activities, and helping athletes understand when estimated tax payments may be required.

    We also provide guidance on recordkeeping and documentation, helping athletes track their NIL income and expenses so they stay organized throughout the year.

  • How We Work:

    Many NIL earners are dealing with self-employment income and contractor tax rules for the first time. Our approach focuses on clarity and simplicity so athletes and families understand what is required.

    We help clients understand how NIL income is taxed, what records should be kept, and how to prepare for tax payments so there are no surprises when tax season arrives.

  • Why Lighthouse?

    At Lighthouse Accounting & Consulting, we work with individuals navigating new financial opportunities that come with new tax responsibilities.

    NIL income introduces tax rules many student-athletes have never encountered before. Our role is to provide clear, reliable tax guidance so athletes and families can focus on the opportunities ahead while knowing their tax reporting is handled properly.