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The Complete NIL Tax
Planning Guide

Everything College Athletes Need to Know About NIL Taxes — 7 Chapters, Zero Jargon.

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Inside the Guide

7 Chapters That Cover Everything

We wrote this guide because most student-athletes get blindsided by NIL taxes. These seven chapters change that.

1

NIL Income Is Self-Employment Income

Most athletes don’t realize the IRS treats NIL income like freelance work — meaning you owe 15.3% SE tax on top of regular income tax, even if nobody withheld anything.

2

Multi-State Taxes Are Real

Competed in three states this season? You may owe taxes in all of them. This chapter breaks down nexus rules, how the "jock tax" works, and exactly which filings you need.

3

Deductions You’re Probably Missing

Training gear, travel to appearances, content creation costs, agent fees, and more — all potentially deductible. The average athlete misses $2,000–$5,000 in legitimate write-offs.

4

LLC vs. S-Corp Decision Tree

Should you form an entity? If so, which one? This chapter gives you a simple decision framework based on your income level, with a real breakdown of what each structure saves you.

5

Quarterly Estimated Taxes

NIL income has zero withholding. Learn exactly when quarterly payments are due, how to calculate them, and what happens if you miss one — before the IRS sends you a bill with interest.

6

What to Do If You Didn’t File

Already behind? This chapter is written specifically for athletes who have one or more unfiled years. It outlines your options, realistic penalties, and how to get back into compliance.

7

Build Your Financial Team Early

CPA, financial advisor, agent, attorney — who do you need and when? This chapter maps out the right team for each stage of your career so you’re never flying solo on big money decisions.

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Covers all 7 tax issues specific to NIL athletes
Updated for the 2026 tax year
Written in plain English — no accounting degree required
Completely free — no credit card, no catch
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About the Author

Written by Larry Hay, CPA

Larry Hay, CPA

TX License #118387  ·  CA License #143304

Larry is a licensed CPA specializing in NIL tax planning for student-athletes across all 50 states. He founded Playbook.CPA to bring enterprise-level tax strategy to the next generation of athletes — the same strategy that pro athletes pay $500/hr to get, delivered affordably and accessibly. Larry played quarterback in college, so he understands firsthand what it’s like to navigate athletic commitments alongside complex financial decisions.

(281) 346-3261 nil@playbook.cpa

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