Personal Trainers Who Work For Themselves: Tax Planning

By Shannon Gurnee
In Budgeting
July 18, 2023

Today, on Redhead Mom, I’m sharing a partnered guest post about personal trainers and tax planning.

personal trainers taxes tax planning

Tax preparation is among the most crucial components of your company as a self-employed personal trainer. However, it’s often one that’s forgotten about or not carried out effectively, leading to a less-than-ideal scenario around tax time. The usage of tools such as a 1099 calculator, projected tax payments calculator, and self-employed tax estimator may assist you along the road in maximizing your tax savings and effectively submitting your taxes as a freelancer.

Why Freelancers Need to Be Tax Planning Adepts

Personal trainers are regarded as independent contractors or freelancers when they work for clients. This implies that in addition to income taxes, you are also liable for paying self-employment taxes, which are the employer and employee components of Social Security and Medicare taxes. Because of how difficult this procedure may be, it’s important to prepare ahead to avoid unexpectedly hefty tax bills or even fines from the IRS.

Maximizing your tax savings and using tax deductions are two key advantages of tax preparation for independent contractors. You are eligible to write off a variety of business-related costs as a self-employed person, including those for office space, marketing, equipment, and more. Your taxable income may be greatly reduced by these deductions, which will lower your overall tax burden.

The opportunity to avoid fines for underpaying anticipated taxes is a further advantage of tax planning. Based on your anticipated year revenue, freelancers are expected to submit estimated tax payments on a quarterly basis using a quarterly tax calculator. Penalties and interest fees may apply if you don’t make these payments or pay your taxes to the IRS incorrectly. In order to calculate your income and tax due properly and pay the necessary predicted tax payments, good tax planning will assist you.

Tax Planning Resources for the Self-Employed

There are a number of tools accessible to you as a self-employed personal trainer to assist with tax planning and savings maximization. These resources contain estimators for self-employment taxes, projected tax payments, and 1099s.

The amount of self-employment taxes due for a certain year may be estimated with the use of a 1099 calculator, which is a straightforward tool. With the help of this calculator, you may get an approximate idea of your tax obligation based on your net income, the number of dependents you have, and the allowable deductions. Planning your tax payments using it may help you make sure you’re saving enough money for your taxes and that you’re making the right tax payments.

Another useful tool for independent contractors is an estimator of tax payments. With the help of this calculator, you can determine how much anticipated tax payments you need to make each quarter by entering your predicted income for the whole year. You may prevent fines and underpayment costs by correctly assessing your tax burden and making the necessary payments.

A more thorough tool that gives a thorough breakdown of your tax liabilities as an independent contractor is a self-employed tax estimate. In order to provide you a more realistic view of your entire tax due, this tool takes into account all of your income, deductions, self-employment tax liabilities, and income tax liability.

Advice on How to Save the Most on Taxes

You may use the following advice in addition to these tools to optimize your tax savings and minimize your tax liability:

  1. Ensure that all of your business-related costs are meticulously tracked. This covers all related deductions, such as those for home offices, marketing costs, and equipment purchases. You may minimize your taxable income and lower your tax obligation by keeping accurate records that enable you to claim the maximum number of deductions for eligible expenditures.


  1. You could think about establishing a single 401(k) retirement account. Your single 401(k) contribution limit for 2021 as a self-employed person is $56,000. This may help you save a lot of money on taxes while still funding your future.


  1. Benefit from tax deductions for health care. Your whole monthly premium payment may be written off on your tax return if you are self-employed and pay for your own health insurance. By lowering your taxable income, this deduction may help you pay less in taxes.


  1. Seek the advice of a tax expert. Despite their potential value, tax planning tools cannot replace the guidance of a licensed tax expert. Your compliance with all tax rules and regulations may be ensured by a tax expert, who can also help you find extra deductions and credits and provide you helpful tax planning guidance.



Planning your taxes is a critical part of running your company as a self-employed personal trainer. You may avoid possible fines and lower your tax bill by maximizing your tax savings and correctly assessing your tax due. Self-employed tax estimators, 1099 calculators, and calculators for projected tax payments may all be useful tools in this process, but it’s also crucial to speak with a tax expert and maintain thorough records of all your company expenditures. You may make tax season less stressful and easier to handle by adhering to these suggestions.

About Has 2212 Posts

Shannon Gurnee is the author of Redhead Mom formerly "The Mommy-Files", a national blog with a loyal following. She has a Bachelor's Degree in Marriage, Family, and Human Development with a Minor in Business Management. Shannon and her husband, Frank, have a large family with 6 awesome kids and love living on the Central Coast near San Luis Obispo, California, as well as traveling around the world. A full-time Social Media and Professional Blogger, Shannon also serves as a National Brand Ambassador for many well-known companies. Her blog focuses on motherhood, family fun activities, traveling, fashion, beauty, technology, wedding ideas and recipes while providing professional opinions on products, performances, restaurants, and a variety of businesses.

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