Creating an Impact
For many athletes, the dream of opening a charity or youth sports camp was something they could only do either after college or in the pros. Now, more athletes than ever will be able to create new businesses and charitable organizations while playing the game they love.
Limited Liability Companies (“LLCs”) and non-profit organizations also offer liability and tax incentives to athletes. The primary benefit of forming an LLC is the protection it provides against personal liability, making them a great option for athletes looking to offer coaching and training camps.
For athletes looking to establish charities and educational groups, establishing a 501(c)(3) organization affords them tax-exempt status within the IRS tax code.