The Athlete Brand Advisor Podcast

What you need to know about NIL and your taxes

This episode of the Athlete Brand Advisor Podcast featured host Greg Glynn interviewing Sophie Miller, a CPA from Larson Company based in Utah, about tax strategies for college athletes involved in Name, Image, and Likeness (NIL) deals. Sophie is a former college volleyball player at Eastern Washington, discussed the importance of setting up an LLC for athletes earning money annually from NIL activities to protect assets and potentially reduce self-employment taxes. They covered key tax planning steps including tracking income and expenses in spreadsheets, reporting all income regardless of amount, opening business bank accounts, and gathering necessary documentation like 1099s and W-2s. 
NIL Tax Planning for Athletes
Sophie discussed her journey from college athlete to CPA, explaining how she initially studied accounting with the intention of becoming a bookkeeper before pursuing her master's in taxation and working at a big four firm. She advised athletes earning over $5,000 from NIL deals to start by setting up an LLC, which provides flexibility to file as either a sole proprietor or S corporation. Sophie explained that athletes working as contractors are subject to both income tax and self-employment tax (on top of income tax), making the LLC structure beneficial for managing these tax obligations.
Athlete LLC Formation Benefits Discussion
Sophie and Greg discussed the benefits of forming an LLC for athletes, particularly those involved in NIL deals and camps/clinics. They agreed that while an LLC provides valuable liability protection, it might not be necessary for very small operations (under $5,000 annually), but becomes more important for higher-value activities or those involving physical activities like camps. The discussion also covered tax implications, including dependency status considerations for athletes over 18 who are earning income, and the importance of discussing tax filing strategies with parents.
Athlete Tax Planning Guidance
Sophie talked with Greg about tax considerations for athletes, explaining that brand deals involving free products should be reported as income regardless of the amount, even if no 1099 form is received. She recommended tracking both income from products and expenses including cell phone bills, accounting fees, mileage, and sport-specific training costs to maximize tax deductions. 
NIL Income and Expense Tracking
Greg and Sophie discussed tracking income and expenses for NIL activities. They recommended using a spreadsheet or business bank account to record transactions, with a focus on reviewing records at year-end rather than waiting until tax filing time. Greg emphasized the importance of tracking both cash and non-cash transactions, including product value, and suggested that athletes should report all expenses, including travel costs for appearances and autograph signings, as potential tax write-offs.
NIL Income Tax Strategy Planning
Sophie and Greg discussed strategies for managing NIL (Name, Image, and Likeness) income, including ways to optimize tax deductions by shifting income to family members in lower tax brackets and using expenses like travel and office supplies as deductions. They also covered the importance of collecting 1099 forms from brand partners and maintaining expense records for tax purposes, noting that while CPAs don't require every receipt, it's wise to keep them for potential audits.
Athlete Tax Documentation Services
Sophie explained the documentation athletes need for tax purposes, including W-2s, 1099s, 1098Ts, and 5498s, and discussed how to start a relationship with a CPA. She outlined Larson and Company's tax services, including pricing starting at $650 for a basic return, and noted that while they cannot set up LLCs directly, they can provide guidance and resources. SophieM emphasized the importance of early financial planning for athletes and confirmed that her firm can work with clients across all states.
Resources:
Website: https://larsco.com
NIL article about taxes: https://larsco.com/blog/nil-and-taxes-what-college-athletes-need-to-know-about-their-earnings
Email: smiller@larsco.com
Phone: 435-259-9100
Pliable Marketing: PliableMarketing.com 
 
 

Why Athletes Make Great Coaches with Author Matt Rogers

In this episode of The Athlete Brand Advisor Podcast, Greg Glynn interviewed Matt Rogers, author of "The Recipe for Being a Great Coach," to discuss his sports background, coaching career, and the inspiration behind writing the book. Matt shared his experiences playing college sports at Bowdoin College and his journey into coaching, emphasizing the importance of building positive team cultures and teaching life lessons through sports. Matt explained that the book, which contains 22 chapters focused on skills and life lessons, aims to help coaches and athletes become their best version of themselves and inspire others.
Journey to Success in Coaching
Matt shared his journey from a multi-sport athlete in Maine to becoming a successful coach, author, and hitting coach at Bowdoin College. He discussed his early experiences playing sports with his siblings and emphasized the values of faith, family, education, and sports instilled by his parents. Matt reflected on his college career at Bowdoin, where he initially struggled with the team's performance and culture but chose to stay, eventually leading the team to its best record in school history by his senior year. He highlighted the importance of perseverance and personal growth over winning records, and his recent book, "The Recipe for Being a Great Coach," explores these themes further.
Matt's Coaching Journey and Philosophy
Matt discussed his coaching career, which began in high school and continued through various roles, including assistant coaching at Deering High School and coaching basketball and baseball at different levels. He expressed a preference for coaching baseball and basketball, highlighting the psychological aspects of baseball and the ability to make in-game adjustments in basketball. Matt emphasized the importance of coaching as a way to instill work ethic, team spirit, and life lessons, regardless of age. Greg inquired about Matt's decision to write the book "The Recipe for Being a Great Coach," but Matt did not provide a specific answer in this segment.
Sports Beyond Records and Titles
Matt discussed his journey of writing a book which focuses on the essential aspects of sports beyond records and titles, emphasizing shared experiences, friendships, and life lessons. Inspired by a friend, Dave Eid, Matt decided to transform his ideas into a book, which was surprisingly accepted by a publisher. He explained that the book is applicable to anyone seeking personal growth and leadership, highlighting the importance of being selfless and positive. Matt expressed his hope that the book would help others improve themselves and, in turn, assist others. Greg agreed, emphasizing the book's relevance for coaches and athletes and its potential to inspire higher standards in coaching and leadership.
Episode Resources:
Buy the book
Contact Matt at M22rogers@aol.com or call 207-318-6056
Bowdoin College
Dave Eid
Cash McClure Basketball Camp and Training
Greg Glynn
Pliable Marketing
 

The Science Behind Female Athletes with Christine Yu

To celebrate National Girls and Women in Sports Month, host Greg Glynn, founder & CEO of Pliable interviewed Christine Yu, an award-winning journalist and author of "Up to Speed: The Groundbreaking Science of Women Athletes." They discussed Christine's background in journalism and her passion for women's sports, which led her to write the book to address the gender gap in sports science research.
 
Christine shared insights on the myths and misconceptions about women's athletic capabilities, the importance of proper nutrition and strength training for young female athletes, and the high rate of ACL injuries among female athletes. They also touched on the historical and societal factors that have contributed to the underrepresentation of women in sports science studies. Greg and Christine discussed actionable tips for young girls and parents to support bone health and prevent injuries. The episode concluded with information on where listeners can find Christine's book.
Journey to Sports Science Advocacy
Christine discussed her journey from a nonprofit background to becoming an award-winning journalist, highlighting her passion for writing and storytelling. She explained how her interest in sports evolved from personal experience and her realization of the gender data gap in sports science research, which inspired her to write a book on the topic. Christine shared surprising findings, such as historical women scientists' efforts to debunk myths about women's physical capabilities being dismissed, and emphasized the importance of addressing these misconceptions to support girls and women in sports.
Nutrition for Female Adolescent Athletes
Christine discussed the historical and ongoing gender-based limitations in sports, particularly for women, and emphasized the importance of proper nutrition for adolescent athletes to support bone health and overall development. She highlighted the need for regular meals and snacks, especially before and after practices, and recommended consulting a sports dietitian for personalized advice. Christine also stressed the significance of maintaining a healthy menstrual cycle as an indicator of hormonal balance and its long-term implications for bone health.
Women's Sports Injury Prevention Strategies
Christine and Greg discussed women's sports, focusing on injury prevention and body type considerations. Christine emphasized the importance of strength training and neuromuscular training for reducing ACL injury risk in female athletes, particularly during adolescence. She highlighted that while biological factors like pelvic width are often cited as risk factors, environmental and societal factors, such as lack of access to strength training, also play a significant role. Greg and Christine agreed on the need to empower young female athletes to take control of their injury prevention through accessible training programs.
 
Resources
Buy the bookhttps://www.christinemyu.com/
Christine's social mediahttps://www.instagram.com/cyu888/
Pliable Marketing website
https://pliablemarketing.com/
Mission E50 initiative to increase the popularity of women's sports
https://pliablemarketing.com/e50
 
 
 

How NIL opportunities are created with FanSpark

This episode of The Athlete Brand Advisor Podcast featured Barrett Garese and Greg Glynn discussing Barrett's career journey from film school to his current role with FanSpark, a subscription content platform for athletes that enables monetization through exclusive fan-powered content.
Barrett explained how FanSpark operates as a safe and simple platform with an 80-20 revenue split favoring athletes, and discussed its features including discovery tools and safety measures designed to foster authentic athlete-fan relationships.
Social Media Producer's Career Evolution
Barrett shared his career journey, starting in film school where he realized he preferred producing over directing, leading to roles at Thunder Road and UTA. He became an expert in social media during his time at UTA, helping agents advise clients on digital platforms like Twitter and Facebook. After leaving UTA, he founded a consulting company focused on social media strategy for actors, which expanded to working with TV shows, production companies, and studios on emerging technologies and streaming platforms.
Athlete-Focused Content Monetization Platform
Barrett explained that FanSpark is a subscription content platform for athletes that allows them to monetize their fanbase through exclusive content, similar to Patreon but with a 80-20% revenue split in favor of athletes. He emphasized that the platform is free to use, does not have DMs, tipping, ads, or AI content, and is designed to be safe and simple for both athletes and fans. Barrett also highlighted that FanSpark is a PG-13 or lower platform, aiming to be inclusive for the whole family, and mentioned that while Ilona Maher's was an inspiration for the platform, she is not currently on FanSpark.
Athlete-Fan Relationship Platform Discussion
Barrett and Greg discussed the importance of creating a platform that fosters authentic relationships between athletes and fans, emphasizing the need for content that reflects genuine athlete personalities without compromising safety. They highlighted the platform's features, such as blocking and muting tools, to ensure athlete safety and comfort, particularly for college athletes. Barrett explained their focus on discovery features, like the Sparkboard, which prioritizes engagement over popularity, encouraging users to explore new athletes and sports. Both agreed on the potential for such a platform to enhance fan engagement and athlete influence, drawing parallels to how social media could have transformed athlete-fan interactions in the past.
FanSpark's Discovery Pathways for Sports
Barrett explained that FanSpark's discovery pathways aim to introduce users to new sports by leveraging the popularity of existing ones, similar to ESPN's approach of featuring top 10 clips during SportsCenter. He shared his personal experience of discovering women's rugby through Ilona Maher's social media content during the 2024 Olympics, which led him to become a fan of the sport. Greg agreed that the platform is well-suited for growing women's sports and discussed the opportunities for athletes to monetize their content through brand deals and storytelling.
FanSpark Athlete Engagement Strategy
Barrett explained how athletes can use FanSpark.pro to create authentic content and engage with fans, recommending twice-weekly posts. Barrett announced a new campaign called "First to 500," offering a $500 bonus and a custom championship ring to the first athlete to reach 500 subscribers on the platform.
Episode resources
Websitewww.fanspark.proSocial media accounts https://www.instagram.com/fansparkprohttps://www.tiktok.com/@fansparkproEmailinfo@fanspark.pro