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Fitness business and taxes?

Posted by Nikki Layton on Tue, Mar 24, 2009
  
  
  

Do you own your fitness business? No matter how big or small you are your attention is needed to keep our industry from being overtaxed.  

Currently in the United States there are 25 states that don't tax fitness programs, if you are one of the states you need to be on your guard. The lawmakers are looking for more ways to increase their tax base and they are looking our way!

We all need to get involved with our local policy makers, sign up for newsletters and make sure that if they start talking about implementing new taxes on the fitness industry that you and all of your colleagues are involved before it has passed.

In 2007 Maryland proposed a 6% tax on all fitness programs, this would have had significant impact on the fitness clubs and trainers in the state. Either they would have had to roll that our to their clients or include it in their fees and lose 6% of their gross revenues. Not really a viable option for most companies no matter what the size. Read more on this

We often talk with self employed trainers as well as studios and clubs and a lot of the time the trainers and small business owners don't feel like they need to be involved in these things. I would strongly disagree. It is just as critical for the small businesses to be involved in these situations as the big business.

Get involved with associations both in the fitness industry as well as your community, it is this connection that will keep you in the know about what is happening in your town, city, state or province as well as what is going on in the industry.

Be proactive, get involved and make a difference. We are all part of the solution whether that is helping our clients get fit or not letting the policy makers take more money out of our pockets and our members' pockets. Fitness saves the government money, let's not let them charge our clients even more for it!

The other side of the coin is there are several states and all of Canada that are trying to implement a fitness tax credit so that your members will be able to get a tax deduction for fitness expenses up to a certain amount. These also need your support so whether your state or province is trying to tax or give a credit get involved and make a difference!

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