Becoming an Inc.

You have a bonafide BUSINESS on your hands.  You are continuing to grow.  If after you make a certain amount (there is debate about this amount but I believe it’s $6000 a year) you need to begin to pay taxes (because Beachbody does not take them out for you).

WITH THIS you also will begin to receive some tax benefits as well.

PLEASE be sure to contact a professional CPA to make sure you are following the correct guidelines and are getting all the write-offs allotted to you and your new business.

A GENERAL list of the options for write offs are as follows: Again, PLEASE be sure to always speak to a certified accountant: https://drive.google.com/open?id=1goSi2oCrs2rIX2WE3pp9rwIjDp4aE53mSvSSGcuzuaM

As mentioned in the video when you begin to receive a full-time income with your Beachbody business you should seriously look into becoming an INC.  There are more write-offs available and you will also be protected should anything occur.

An app that others on the team use to help keep track of all your write-offs is:https://taxbot.com/landing/home

Next

* if you want to pause this course at any time, just close this out and you will receive an email with the next module