USA TODAY goes with, "As college athletes cash in on NIL, tax experts and schools remind them to pay Uncle Sam." With athletes now able to profit from their NIL, many are "learning their new-found earnings come with responsibilities beyond going to practice and marketing themselves." With several hundred to multimillion dollar sponsorships suddenly becoming available to college athletes, some universities are "counseling these young adults to make sure they don't spend everything they receive because state and federal governments are entitled to their cuts." One longtime certified public accountant in California said that it is a "good thing because most student-athletes likely have never filed a tax return or been independent contractors."
Also:
- How DTC fitness brand Nobull is competing with the giants of athletic apparel.
- A look at life after the NBA.
- Money is having a "hard season in college football."
- Two sports bars putting focus on televising women's sports.
