Boise State Athletics Providing Industry-Leading Financial Education and Tax Services
Boise, Idaho - (March 8, 2023): On the heels of its inaugural Financial Education Series, Boise State Athletics will host a free tax preparation and filing session on March 9, in conjunction with the Volunteer Income Tax Assistance (VITA) program operated by the Department of Accountancy in Boise State’s College of Business and Economics (COBE). The session, open to all qualifying members of the community, provides student-athletes a familiar and convenient location to receive one-on-one guidance with filing tax returns for all income received, including via name, image and likeness activity.
VITA is an initiative of the Internal Revenue Service (IRS) that offers free tax preparation and filing services for low- to moderate-income individuals (generally less than $60,000), persons with disabilities, the elderly and limited English speakers.
VITA sites are run by IRS partners and staffed by IRS-certified volunteers. The site operated by Boise State University is spearheaded by Kathy Hurley, a lecturer in accountancy in COBE. Boise State associate athletic director for strategic communications and business development Mike Walsh is among the IRS-certified volunteers assisting Hurley with preparing and filing returns.
Attendees at the session hosted by Boise State Athletics can choose to have their tax return prepared and filed by a certified volunteer, or prepare their own federal and state returns using a guided ‘self-prep’ software under the supervision of a certified volunteer. Boise State’s VITA program holds regular sessions throughout the tax filing season by drop in and by appointment visit the program’s website to learn more about the schedule and locations.
Those interested in supporting Boise State’s VITA site can make a charitable gift to help provide free tax services to more community members or become a VITA volunteer. To learn more about volunteer positions and how to get started, email vitataxhelp@boisestate.edu.
Learn more about the IRS’s VITA program and find a participating site near you.
The three-part Financial Education Series was made possible through a partnership between BroncoLife – a department-wide commitment to focus on the whole student-athlete with resources and staff to assist in the transition to college, personal development and leadership, community engagement and professional development for life after sports – and Boise State’s NIL program.
Local experts led workshops on budgeting, investing and tax education. The sessions were also available to department staff. Highlights are listed below.
Budgeting
Host: Whitney Hansen (Boise State adjunct professor; financial coach; podcast host)
Topics:
· Prepare freshmen for new realities of living off campus.
· Learn how to budget for rent, utilities and other necessities.
· Understand financial implications of signing a lease and other commitments.
Investing
Host: Todd Romer (Founder, Young Money University)
Topics:
· Increase financial confidence and reduce financial stress.
· Reduce limiting beliefs about achieving your life dreams and goals.
· How to begin investing safely and automatically with little money to help you achieve long-term wealth.
Tax Education
Host: Brian Yeargain (Certified Public Accountant; Partner at Little-Morris LLP)
Topics:
· You made money, now what? Do you need to file a tax return?
· Types of income: Differences between self-employment income, royalty income and W2 wages.
· Deductions: Common deductible expenses and how contributing to a retirement account can be tax advantageous.
