Membership revenue, booth rental versus employees, tips, equipment, retail product sales, and entity and retirement planning for gyms, yoga studios, trainers, salons, and tattoo studios.
30 guides, each written by a CPA licensed in the US and Canada.
Sole proprietorship works for trainers earning below $60,000-$80,000. Above that range, the S-Corp election saves payroll tax.
US TaxSalon and spa businesses are NOT specified service trades or businesses (SSTBs) under IRC 199A, so the full 20% QBI deduction is available.
US TaxPersonal trainers earn unevenly across the year, with January peaks and summer dips. The prior-year safe harbor simplifies quarterly payments.
US TaxQuarterly estimated tax payments are due April 15, June 15, September 15, and January 15. The safe harbor rules require.
US TaxEstimated tax considerations for tattoo studios: 1. All income is taxable, including cash and tips. All income is taxable.
US TaxYoga studios have predictable monthly revenue from memberships and class packs, making estimated tax calculations straightforward.
US TaxAll business insurance premiums are deductible as ordinary and necessary business expenses under IRC 162. The main insurance.
US TaxGym owners can write off equipment purchases immediately through Section 179 or bonus depreciation. Gym equipment qualifies for Section 179 expensing.
US TaxGym owners must understand when membership revenue is taxable: prepaid annual memberships, monthly billing, initiation fees.
US TaxSalon and spa owners can deduct general liability, professional liability, property insurance, and workers' comp premiums.
US TaxGym owners who hire trainers, front desk staff, and cleaning crews must handle payroll taxes, workers' comp, and worker classification correctly.
US TaxPersonal training is NOT an SSTB (it is athletics instruction, not competing). The S-Corp election saves SE tax once net profit exceeds $50,000.
US TaxGym owners and personal trainers can contribute $24,500 to $72,000 per year through a Solo 401(k) or SEP IRA.
US TaxSolo personal trainers can contribute up to $70,000/year to a Solo 401(k). 2025 Solo 401(k) limits for personal trainers: - Employee deferral: $23.
US TaxSalon owners and booth renters can contribute $23,500 to $70,000+ per year through self-employed retirement plans. Booth renters and suite leaseholders.
US TaxSalons that sell retail products (shampoo, conditioner, styling products, skincare) must collect sales tax in most states, track inventory.
US TaxSalon owners must choose between employing stylists (W-2 with commissions or hourly pay), renting booths (1099 booth renters), or a hybrid model.
US TaxSalon suite renters operate as independent business owners. The suite rent, equipment, products, and marketing are all deductible.
US TaxTattoo studios deduct ink, needles, gloves, and single-use supplies as cost of goods sold or ordinary expenses. Major deduction categories for tattoo.
US TaxTattoo studios are generally NOT specified service trades or businesses (SSTBs) because tattooing is a skilled trade, not consulting, health care.
US TaxTattoo studio owners (NOT SSTBs) qualify for the full 20% QBI deduction and can stack it with retirement plan contributions.
US TaxTattoo studios use two primary models: booth rental (artist pays rent for space) and commission/employment (studio pays artist a percentage).
US TaxGym franchise owners (Anytime Fitness, Planet Fitness, Orangetheory, F45) must understand the tax treatment of franchise fees, ongoing royalties.
US TaxGym owners and personal trainers can deduct equipment, rent, insurance, certifications, marketing, and more. Common deductions for fitness professionals.
US TaxPersonal trainers deduct gym rental fees, certification costs, equipment purchases, liability insurance, vehicle mileage, and continuing education.
US TaxSalon and spa owners can deduct rent, supplies, equipment, insurance, licensing, marketing, and employee costs. Salon and spa deductions include rent.
US TaxYoga studios deduct rent, props and equipment, instructor continuing education, liability insurance, and marketing. Yoga studio deductions by category.
US TaxYoga studio owners can shelter income through Solo 401(k) (owner-only) or SIMPLE IRA (with employees). Plan selection for yoga studios: Owner-only studio.
US TaxYoga studios face a gray-zone SSTB classification depending on their business model. SSTB analysis for yoga studios: - Group class instruction (most.
US TaxYoga studios commonly treat instructors as independent contractors, but the IRS analysis depends on schedule control, class content direction.