While fitness professionals are adept at helping others with health and wellness, many aren't as knowledgeable about taxes and the tax benefits they could be taking advantage of.
We look at how we can reduce your tax burden, meaning that you pay less taxes. That is more money for yourself or to grow your business. A general CPA only makes sure you are compliant with the tax deadlines and doesn’t look for tax reductions.
Money Muscle understands the ins and outs of running health and fitness businesses in a way that a general certified public accountant won’t understand. Additionally, we focus on tax reduction rather than only tax compliance.
Unlike the traditional CPA that you see once a year, with Money Muscle you'll get four meetings per year with our founder and CEO. Additionally, you can reach out anytime with questions, concerns, or updates. Learn about some of our services here.
Not at all. As a part of our tax maintenance plan, you will email support, access to our client-only Facebook group, as well as quarterly one-on-ones and tax estimates.
Ultimately, there are three things you want in a CPA. Someone you see yourself working with long-term, approaches you proactively with strategies, and communicates with you throughout the year, not just during tax season. That’s precisely what Money Muscle does.
The best time to start looking for your CPA is when you’ve been operating your business for roughly a year, are ready to take it to the next level, or when your business is going through growth. You want to ensure your business gets the most tax advantages for where you are right now.
This is one of the biggest misconceptions about our business. What you need most from your CPA is someone who understands your industry to make proactive strategic recommendations, communicates with you all year, and works to reduce your tax burden.
While there aren’t tax strategies spelled out specifically for the health and fitness industry, Money Muscle specializes and are experts of the ins and outs of the industry. That means we can make strategy recommendations based on what we’ve seen work for other similar businesses.
Generally, you will first want to obtain some documents from the current CPA, including copies of tax returns and access to your accounting system if you don’t have it already. Money Muscle will help you ease through the transition and ensure you know exactly what to ask for.