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nicolasjpichardo
October 27, 2021
Question

Personal Training business

  • October 27, 2021
  • 1 reply
  • 0 views

I started working for myself as a personal trainer. How would I report my income? Do i need to establish an LLC or  S-corp? 

    1 reply

    B
    Bsch4477
    October 27, 2021

    You are an independent contractor assuming that you are not employed by someone.  You do not have to have a LLC or corporate entity to operate as a sole proprietor. You will be completing Sch C and will have regular income tax as well as self employment tax on your net income. Be sure to keep good records of any related expenses. 
    https://www.irs.gov/businesses/small-businesses-self-employed/self-employed-individuals-tax-center

     

     

     

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