Nebraska Life Skills finished off the Big Red Wealth Series on Monday, March 21st with a seminar focussed on taxes, which was a required event for all second-year student-athletes. The Big Red Wealth Series is part of the annual 4-year tiered programming that educates and supports student-athletes on financial responsibility.
The seminar on taxes was led by UNL Associate Dean of Master's Programs and Executive Development, Dr. Aaron Crabtree, and colleague, President of the Nebraska Council on Economic Education, Jennifer Davidson. Davidson has partnered with the Nebraska Life Skills staff on progressing the Big Red Wealth Series and supporting student-athletes on the management of finances.
Student-athletes learned about types of taxes, different tax documents, and overall financial literacy during the event. Dr. Crabtree guided student-athletes through tax return forms like the 1040, and the difference between W-4, W-2, and 1099 forms. Additionally, Dr. Crabtree discussed the importance of saving money throughout the year to cover self-employment taxes and how that directly relates to possible earned income from Name, Image, and Likeness partnerships. Davidson and attendees also worked through different scenarios to further prepare student-athletes on filing taxes.
The Big Red Wealth Series will continue in the Fall 2024 semester and will include a required financial seminar for all Husker student-athletes. For questions about the Big Red Wealth Series, please reach out to Assistant Director of Life Skills/PEO Director, Tom Lemke.