Get Studio Fit in the New Year!
It’s that time of the year everyone is looking for inspiration on how to have the best year ever. Gym memberships are being dusted off, resolutions are being made! Now is the time to think about your studio fitness as well, so this 4-part series will focus on small but smart changes for your best business year ever.
You don’t have to have a studio that you see clients in to work on these changes. Whether you have a brick and mortar studio or you work on location, it’s important that each year you take stock on what you did in the previous year and what can be done in the upcoming year to improve.
Do you have a system in place for taxes, or do you cram it all in to the end of the year? Are you sure if you should be paying estimated tax quarterly or monthly, and are you sure that you are taking full advantage of the credits offered to you as a self-employed entrepreneur? Not many people can answer “yes” to all these questions. If you can’t it’s time to schedule a visit to a qualified accountant. This tax-deductible service will be so valuable to you in the long run. While it may be tempting to just save the money and let your spouse do the year end taxes along with your personal taxes they may be missing crucial deductions. Because tax laws and depreciation values on equipment can change from year to year staying up to date is important and helps keep your business running legally.
Get your systems in place now and you’ll stress less at the end of the year. Then have some fun taking those deductions when you know your studio is fiscally fit!