Can\u2019t forget about our international athletes. International athletes need to be more aware of their NIL deals than any other athlete, your NIL income doesn\u2019t just impact your taxes it can impact your immigration status.
For F\u20111 visa holders, the wrong NIL activity can put your visa, your student status, and your ability to stay in the U.S. at risk.
International athletes, this is what you should be aware of:
Visa Restrictions \u2013 understand F\u20111 visas restrictions because the wrong deal can violate your visa. F-1 visas tend to limit off\u2011campus work and many NIL deals do not qualify under the few exceptions allowed.
No Self\u2011Employment Tax \u2013 F\u20111 visas students don\u2019t pay self\u2011employment tax for their first five calendar years in the U.S. Take the small wins when we can get them.
Form W\u20118BEN \u2013 If you legally earn NIL income, give this form to the payor to avoid a flat 30% withholding tax on the gross.
Don\u2019t just sign – every institution should have an office that handles all international student matters (International Student Office) . Please talk to them or an international\/immigration tax professional or attorney before signing any NIL deal. There could be activities that may be allowed under specific conditions that would not jeopardize immigration status, however, you would need guidance.
Some countries have tax treaties with the United States that can reduce or even eliminate certain tax obligations for international student\u2011athletes. Your specific situation depends on your home country, your visa status, and the type of income you earn.
If you\u2019re an international student\u2011athlete navigating NIL or other U.S. income, it\u2019s worth speaking with a qualified international tax professional who understands treaty benefits and nonresident rules. International tax isn\u2019t my lane, but I know people.<\/p>","protected":false},"excerpt":{"rendered":"
Can\u2019t forget about our international athletes. International athletes need to be more aware of their NIL deals than any other athlete, your NIL income doesn\u2019t just impact your taxes it can impact your immigration status. For F\u20111 visa holders, the wrong NIL activity can put your visa, your student status, and your ability to stay […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[10],"tags":[],"class_list":["post-290","post","type-post","status-publish","format-standard","hentry","category-nil-tax"],"yoast_head":"\n