NAICS code: 812990
Being a self-employed coach isn’t easy. You are out there in the sun everyday to earn some money. You train a lot of athletes under you and you must barely have any time left for yourself to relax and have fun. With the help of these tax-write offs, you won’t have to sweat it out while doing your taxes as well.
If you are an independent contractor who works as a coach, then you can reduce your tax bill by simply writing them off as business-related expenses. We are here to tell you about all the write-offs that will help you save some money. Make sure to bookmark this page and go through it again when you are doing your taxes.
We have put together a list of the most common write-offs for sports coaches that you can use to deduct your expenses.
⚽ Sporting equipment
Write it off using: Schedule C, Box 22
You can deduct the money you spend on practice nets, sports shoes, balls, and other essential things you purchase for your athletes.
⏱️ Coaching gear
Write it off using: Schedule C, Box 22
A coach has some essentials as well. This includes play books, hats, and whistles. You can write them off on taxes.
👕 Uniforms
Write it off using: Schedule C, Box 27a
Any uniforms you’re required to wear on the job are considered tax-deductible.
📺 Sports subscriptions
Write it off using: Schedule C, Box 8
Magazines and newsletters related to sports which you have subscribed to are tax-deductible. Even sports channels are considered as tax write-offs.
🎟️ Sporting event tickets
Write it off using: Schedule C, Box 27a
When you attend a sport event because it helps you study the event and learn more about your sport. These expenses are tax deductible.
🎓Continuing education classes
Write it off using: Schedule C, Box 27a
Continuing education classes required to keep your job are fully deductible.