Taxes may not be the most exciting topic for your student-athletes, but they are inevitable. So, how can NIL Directors and Collegiate admins ensure their student-athletes are well-prepared and accountable for understanding taxes? Providing learning opportunities is one thing, but ensuring engagement and attendance is another challenge altogether.
The University of Louisville, a Teamworks Elite customer, may have found the solution. They’ve successfully used technology to educate their student-athletes on taxes, ensure they stay informed about available learning opportunities, and track their adherence.
Zack McKay, Director of NIL Services & Engagement at Louisville, spearheaded this initiative by partnering with Teamworks Influencer and TurboTax to offer in-person educational tax sessions for student-athletes. This approach not only provided dedicated time for learning but also ensured no athlete missed out. Here’s how he leveraged technology for success:
- Scheduling: Tax sessions were added to all student-athlete calendars in the Teamworks Hub app, with promotional messages sent through the app.
- Attendance: Attendance at these mandatory events was tracked using the Teamworks Academic “check-in” functionality.
- Virtual Modules: Student-athletes who couldn’t attend live sessions were required to upload proof of completion for a virtual module via a form sent through Teamworks Compliance.
- Filing Support: All student-athletes received TurboTax discount codes through the Teamworks Influencer app, where they could also access their NIL Activity Reports.
By seamlessly integrating technology into its educational efforts, Louisville has set a standard for effectively educating and holding student-athletes accountable for their tax responsibilities.
“Leveraging the entire suite of Teamworks and a partnership with TurboTax has allowed us to ensure our student-athletes are not only educated about their tax responsibilities but also fully supported throughout the process. This program has made a significant impact on their financial literacy and accountability.”
Zack McKay, Director of NIL Services & Engagement at Louisville
