NIL Readiness Checklist — NIL Matters™

Revenue Share is NOT NIL$20.5M cap per school per year54 schools opted out of revenue shareHouse v. NCAA settlement: $2.8BSelf-employment tax: 15.3% on NIL incomeRead every contract before signingYour sport and conference determine your ceilingNIL Collectives are not Revenue ShareRevenue Share is NOT NIL$20.5M cap per school per year54 schools opted out of revenue shareHouse v. NCAA settlement: $2.8BSelf-employment tax: 15.3% on NIL incomeRead every contract before signingYour sport and conference determine your ceilingNIL Collectives are not Revenue ShareRevenue Share is NOT NIL$20.5M cap per school per year54 schools opted out of revenue shareHouse v. NCAA settlement: $2.8BSelf-employment tax: 15.3% on NIL incomeRead every contract before signingYour sport and conference determine your ceilingNIL Collectives are not Revenue ShareRevenue Share is NOT NIL$20.5M cap per school per year54 schools opted out of revenue shareHouse v. NCAA settlement: $2.8BSelf-employment tax: 15.3% on NIL incomeRead every contract before signingYour sport and conference determine your ceilingNIL Collectives are not Revenue Share

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Business Infrastructure

LLC or Sole Proprietorship Registered

Your business entity is the legal foundation for all NIL activity. Cost: $50-200 depending on your state.

Separate Business Bank Account Opened

Never mix NIL income with personal funds. Open a dedicated account before your first payment arrives.

Business Email Address Created

A professional email for all brand and business communications. yourname@yourdomain.com is the standard.

Federal EIN or SSN Setup for Invoicing

Required for issuing invoices and receiving 1099-NEC payments from brands.

Rate Card or Pricing Document Exists

A simple document stating your rates by deliverable type. Required for professional deal negotiation.

Tax Readiness

Tax Reserve Account Created (28-35%)

A dedicated savings account where you move 28-35% of every NIL payment before spending the rest.

CPA with Self-Employment Experience Identified

Not all CPAs understand 1099-NEC income. Ask specifically about NIL athlete experience.

Quarterly Estimated Tax Payment Calendar Set

April 15 / June 15 / Sep 15 / Jan 15. Missing these triggers IRS underpayment penalties.

Expense Tracking System Set Up

Equipment, software, travel, and other business expenses are deductible. Track from day one.

Q4 Prior Year Filing Date Known

Know when your annual return is due. April 15 for most athletes, or October 15 with extension.

Brand and Market

Media Kit Created

Bio, photo, sport stats, platform breakdown, engagement rate, and rate card. One page, professional format.

Engagement Rate Calculated

(Likes + Comments) / Followers x 100. Know this number before any brand conversation.

Social Bio Updated with Business Contact

Your Instagram, TikTok, and LinkedIn bio should include your business email for brand inquiries.

Content Identity Defined

"I post about [topic] for [audience] because [reason]." If you cannot complete this sentence, your brand is undefined.

First Brand Outreach List Created

3 local businesses minimum. First deal creates reference for every future negotiation.

Revenue Share

School Revenue Share Opt-In Status Confirmed

Ask your athletic department directly. 54 schools have opted out. Know your status.

Sport Allocation Amount Obtained in Writing

The total allocated to your sport matters more than the cap. Get the number in writing.

Role Classification Confirmed

Starter / rotation / reserve allocations differ significantly. Confirm how you are classified.

Revenue Share Engine Projection Run

Know your estimated range before any conversation with athletics staff.

Deals and Legal

NIL Attorney Identified for Deal Review

Identify one before you need one. Not after you have been handed a contract with a deadline.

First Contract Read in Full

Every clause. Every page. Before signing anything. Use the Deal Evaluation Engine first.

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