How to Do Taxes for Personal Training

••• fitness trainer image by Andrejs Pidjass from Fotolia.com

Ask your gym for a copy of your work status forms. Retain copies of your I-9 form, the independent contractor's tax form, or W-4 form, employer and employee agreement.

Set aside money for taxes. According to fitness industry expert Catherine Tully, prepare to pay taxes on a quarterly basis if you are an independent contractor.

Hire an accountant. Listen to his advice on organizing your tax returns.

Save all of your receipts. Keep them in a safe place where you will remember them. File them in chronological order.

Allow your accountant to file your tax returns. She will catch mathematical errors and deductions you will most likely miss. For example, according to the Personal Trainer Business Coach website, you can deduct expenses such as gas mileage and hotel stays for business conventions.

References

About the Author

Angus Koolbreeze has been a freelance writer since 2007. He has been published in a variety of venues, including "He Reigns Magazine" and online publications. Koolbreeze has a Master of Arts in English from Western Michigan University.

Photo Credits

  • fitness trainer image by Andrejs Pidjass from Fotolia.com