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.
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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.
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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.
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Continuing education classes
Write it off using: Schedule C, Box 27a
Continuing education classes required to keep your job are fully deductible.