when I teach group fitness classes,the gym(s) I teach at pay hourly and take taxes out as I am their employee. However, being a free agent and training most clients in their homes, at their request and free will, is this considered taxable income as well? I ask because I want to be sure I am doing the right and legal thing. Thanks! Wa state by the way...answer away!
2007-01-24 06:29:39 · 2 answers · asked by justsayin... 3 in Business & Finance ➔ Taxes ➔ United States
YES: your income from this business is Taxable, there are many benefits that you will gain by paying taxes. The biggest is that you will not have to trouble yourself to find an answer to how much money you make.
Get a tax accountant to help you with deductions.
2007-01-24 06:37:05 · answer #1 · answered by whatevit 5 · 0⤊ 0⤋
File a 1099 and claim only what you make at the gym.
2007-01-24 14:34:42 · answer #2 · answered by Anonymous · 1⤊ 0⤋