Beachbody Coach Tax Write-Offs!
Aside from our 25% off discount, unlimited earning potential, bonuses, free earned trips, and prizes such as apparel, games, personal development books, etc. Every new coach has the opportunity to earn a FREE ticket to Coach Summit, (our annual meeting with corporate, the celebrity trainers, and all of us coaches) just by helping THREE people each month in their first three months of being a coach. Awesome, right?
These little rewards keep me motivated!
As Beachbody Coaches we are Independent Business Owners so each year, Beachbody will provide an IRS Form 1099 MISC (non-employee compensation) earnings statement to each U.S. individual or business entity with one or both of the following conditions:
• Had earnings of over $600 in the previous calendar year
• Made purchases during the previous calendar year in excess of $5,000
*Whether or not a Coach receives a 1099 Beachbody suggests they contact a tax advisor regarding how to report their commissions.*
As the owner of a home business, we are eligible for certain tax deductions when you itemize your return. Please contact your tax advisor to find out what is acceptable/best for you as each state's rules can vary.
Here are some of the things we can write off for our business:
- Shakeology
- Supplements
- Shaker cups
- Blender
- Beachbody workout programs
- Monthly coach business fee
- Quarterly Club Membership
- Internet bill
- Home phone bill
- Cellphone
- Cellphone bill
- Expenses for events & training (Super Saturday, Summit, Leadership retreat, etc) including: Parking, Meals, Airfare, Tickets, etc.
- Coach gifts + shipping costs
- Client gifts + shipping costs
- Meals with coaches (or potential coaches) where business is discussed
- House cleaning (home office portion)
- Utility bills (home office portion)
- Computer, laptop, tablet
- Marketing (i.e. Like Page boots, Instagram boosts, business cards, etc)
- Virtual assistant
- Headshots/Photography
- Beachbody swag
- Website fees
- Workout clothing
- Office furniture
- Logo design
- Phone apps that you use to make pictures
- Zoom call fees
- Workout equipment
AND MORE!!!
Want more information about Coaching?
CONTACT ME or APPLY NOW to join our Team of Coaches!
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