INFLCR partners with TurboTax to bring tax education and tools to student-Athletes Profiting from NIL
Since adopting the new NCAA Name, Image, and Likeness (NIL) regulations, collegiate athletes are engaging in NIL partnerships, and this new income brings the new responsibility to file taxes – tax filing in the NIL era is uncharted territory for most student-athletes. ON3 reported in May of 2022, the NCAA released the results of an association-wide survey of more than 9,800 athletes, with forty-nine percent of respondents indicating a need for educational resources on tax and financial literacy. Student-athletes are looking for tax guidance, especially at the DI level, with 53 and 55 percent of male and female athletes, respectively, saying they need more tax resources.
That’s why INFLCR is excited to announce the partnership with Intuit TurboTax, the leader in tax preparation. This new partnership aims to provide financial education, tax tools, and other resources to INFLCR student-athletes.
Through this partnership, both companies will work together to equip the nearly 90,000 student-athletes at INFLCR partner schools with the most innovative, efficient technologies to maximize their brand potential. In addition, they will support the student-athletes and help them understand the tax and financial implications of these paid opportunities.
Hear more about this partnership from INFLCR founder Jim Cavale, and stay tuned for more information from INFLCR and Intuit TurboTax.