Taxes might not be the most exciting part of running a gym, but they’re definitely one of the most important.
Done right, we’ve seen clients pocket tens of thousands of dollars in savings each year.
Done wrong? They cost you big time – both financially and in peace of mind – if you don’t know how tax services work for gyms.
Here at The Fitness CPA, we’ve been strategizing, preparing, and filing taxes for fitness business owners for many years.
In other words, we’ve seen it all. And we’re passionate about sharing our expertise and knowledge with as many fitness business owners as possible.
In today’s blog, we’re going to chat about what you should look for in a fitness accountant, how our tax services work, and why you’ll love working with us (if you don’t have a CPA already).
What’s Important To Focus On When It Comes to Taxes For Gyms?
There are two main things to focus on when it comes to a tax service for your fitness business: paying as little tax as legally possible to Uncle Sam, and having peace of mind.
At The Fitness CPA, here’s how we deliver on those two priorities:
Maximizing Deductions and Savings
The only thing worse than paying taxes is overpaying. And especially in the fitness industry, every dollar matters.
That’s why the #1 priority on our list is that you’ll only pay what you legally owe—not a dollar more. We dig deep to find industry-specific deductions that others miss—whether it’s equipment expenses, facility upgrades, or operational costs.
On average, our clients save $4,700 annually when they switch to us.
Fixing Past Issues
Here’s the truth: every single gym owner who’s come to us has had something missing on their taxes. Whether it’s deductions that were overlooked, incorrect filings, or a general lack of strategy – there’s always room for improvement.
In fact, it’s one of the first things we check when a new client joins us. We go back through prior-year tax returns, identify any missed opportunities, and fix what needs fixing.
One recent example? A single-location gym with about 900 members came to us last December. After reviewing their previous filings, we found $65,000 in missed opportunities. By amending those returns, we were able to help them recoup that money—and yes, they actually got checks in the mail for tens of thousands of dollars. That’s real money back in the owner’s pocket, all because they weren’t working with a CPA who truly understood the fitness industry.
It’s stories like these that drive us to do what we do. Your hard work deserves better than a one-size-fits-all tax approach—and we’re here to make sure you get every dollar you’ve earned.
Industry Expertise
There’s a reason that general accountants and CPAs can’t save you as much money as those with dedicated gym expertise can.
Simply put: gyms operate differently from other businesses.
From managing membership revenue to knowing exactly what you can deduct as an expense, it’s really important that your tax team has specialized experience behind them.
Our favorite deductions are things you were paying for personally but can offset your taxes, like taking a portion of your home mortgage interest, property taxes, utilities and more under an accountable plan.
Year-Round Strategy
Finally, tax services for gyms should never be a one-and-done filing at tax time.
The best time to save money? Every month throughout the year.
At The Fitness CPA, we don’t just show up during tax season- we’re here every month. We help you stay on top of your finances by spotting opportunities to save, adjusting for changes in your business, and making sure everything stays organized.
Note: This is what we mean by peace of mind!
By working with us all year, you’ll avoid last-minute stress and surprises. We’ll help you set aside the right amount of money each month, so taxes will never be something that keeps you up at night.
How Do Tax Services at The Fitness CPA Work?
Another thing we believe about tax preparation for gyms is that it should be simple and transparent. That’s why we lay it all out on the line before working together.
Here’s what to expect when you work with us:
Up-Front, Transparent Pricing
One thing our clients really appreciate? No surprise bills.
We set our pricing in advance so you’ll always know what to expect. In your proposal, we include a small buffer (usually $0–$250) for anything that might come up during the process. While there are rare cases where something unexpected pops up beyond that range, we do everything we can to stick to the original price we agreed on.
No vague hourly billing. No nickel-and-diming. Just clear, up-front pricing that respects your budget—and your time.
Kick-Off
When it’s time to kick off, we start by understanding your business. We spend a significant amount of time reviewing last year’s tax return and organizing your books to make sure your tax situation is primed and ready to go.
Assigned CPA
We’ll pair you with a dedicated fitness CPA. You’ll work 1:1 with a tax accountant who not only understands tax laws but also knows the fitness industry inside and out.
Customized Tax Prep
Not only is the gym business different from other businesses, but every gym is also different. We tailor your tax preparation to ensure we’re taking advantage of every deduction and credit you’re entitled to.
Video Review
Taxes can be confusing, so we always create a video overview of your return, explaining everything in clear, simple terms.
Ongoing Support
Finally, we’re all ears for questions. If you have a question about your taxes or financials, we’re just a call or email away—before, during, and after tax season.
Last but not least, with our 100% Accuracy Guarantee, you can always rest easy knowing your taxes are done right. If there’s ever a mistake, we’ll make it right and cover any penalties or interest charges.
What About Overdue or Back Taxes?
Remember when we mentioned “peace of mind”?
There’s nothing that can disturb it faster than having late tax bills, penalties, and interest charges hanging over your head.
If you have back taxes, here’s how we address them:
Step 1: Meet and Greet
We start with a quick call to understand where things stand and map out a plan to move forward.
Step 2: Organize the Books
If your books are messy (or non-existent), don’t worry. We’ll help get everything in order so we have a clean starting point.
Step 3: File Overdue Returns
Once we’ve got everything organized, we’ll prepare and submit your back tax filings—minimizing penalties and avoiding further issues with the IRS.
And here’s the part most gym owners don’t expect:
While digging into prior years, we often uncover missed deductions – sometimes worth thousands, or even tens of thousands, of dollars. In many cases, these savings can completely offset the cost of catching up.
For example, we recently worked with a hot yoga studio and noticed there were no HVAC expenses listed. That raised a red flag for us – because, well, hot yoga. After asking a few questions, we found out the owner had personally paid $80,000 for HVAC upgrades that weren’t run through the business. By amending her returns and properly categorizing the expenses, we saved her over $20,000 in taxes.
That’s the power of working with a tax team that knows the fitness industry inside and out.
Step 4: Stay Proactive Moving Forward
Once you’re caught up, we’ll help you stay that way. With year-round support and strategic planning, we’ll keep your taxes on track, your books in order, and your stress levels low.
Why Gym Owners Love Working with The Fitness CPA
Finally, not to toot our own horn…
(Our clients do that for us!)
But I think it’s important to mention that when you work with us, you’re not just hiring another tax preparer -you’re gaining a financial partner who’s invested in your success.
Here are a few quick ways you’ll find us different from your existing preparer:
- We’re Responsive: No more waiting weeks for a reply. We’re here when you need us. No online chatbots, just real humans who know you and your business.
- We Keep It Simple: There’s nothing we hate more than tax jargon. We explain everything in a way that makes sense.
- We Understand Gyms: From equipment purchases to membership models, we know the fitness business inside and out.
- We Reduce Stress: With us handling your taxes, you know your business is receiving the absolute best service available. Now, you can focus on what you do best—running your gym and serving your members.
Interested in Tax Services at The Fitness CPA?
Here at The Fitness CPA, we do a lot more than just tax work. In fact, we’re much more passionate about helping you grow your business than filing paperwork with the IRS.
However, we know that when it comes to saving your business money, it’s one of the most important financial tasks to get right.
So, whether you’re behind on taxes, need help planning for the future, or just want peace of mind knowing your taxes are done right, our team at The Fitness CPA is here to help.
If you’re in search of a better tax service for your gym or fitness business, let’s have a chat.
Simply fill in a few details over on our Get In Touch page and we’ll reach out quickly to schedule an introductory meeting.
In the meantime, check out our Tax Filing & Catch Up pages for more details.
Until next time!
Fitness is such a big part of who I am. Maintaining a healthy lifestyle, eating well (mostly paleo), hiking, backpacking, mountaineering, practicing yoga and Crossfit are all important cornerstones of life. But I love ice cream and cookies too much to say no!
I love helping owners make sense of their business and finding ways to grow it. It’s an honor to help you see situations, scenarios and opportunities from all sides so you can make informed decisions.
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