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Can I Deduct Yoga Mat From Taxes?
Here’s what the CPA’s have to say
According to the IRS, you can deduct any expense that is related to your profession as long as it is considered common and helps you in conducting your business.
But what counts as a legitimate deduction?
In this case, Joyce is a yoga teacher and it is necessary for her to practice different asanas for which she requires a yoga mat. So she can in fact deduct the cost of the yoga mat as well as any other fitness equipment she requires as ‘supplies’ for her yoga classes since it is an ordinary and necessary expense.
However, if your profession is not directly related to fitness or yoga then you cannot deduct a yoga mat as a business expense.
Can I deduct Yoga Mat from taxes?
Tax deductions for fitness equipment are hard to come by unless you're in the right profession. Under special circumstances, the IRS does allow certain professionals to deduct expenses related to their health.
Table of contents
Can you claim a yoga mat as a business expense?
According to the IRS, to count as a deduction, an expense must be ordinary and necessary. A yoga mat is generally considered a personal expense but if you’re a part of the fitness industry then it can be considered a legitimate deduction.
Some common freelance professions where you can claim fitness equipment as a deduction include:
- Dancers
- Gym Owner
- Yoga Teachers
- Fitness Instructor
Who can claim a yoga mat as a tax deduction?
To deduct any expense, it must be directly related to your business. If you're a part of the fitness industry, where it's necessary for you to advocate a healthy and active lifestyle as a part of your business, then you can deduct it.
Dancers:
If you happen to run a dance studio, you can deduct the cost of any fitness equipment you require for your business, this includes resistance bands, ankle weights, yoga mats and etc.
Gym Owners:
As a gym owner, any gear that you use exclusively for personal training is tax-deductible this includes the free weights, machines, exercise/yoga mats, water fountains, and even sound systems.
Fitness Instructor:
As a fitness instructor, you can deduct the expenses associated with your business. So, any equipment or gear you buy exclusively for the use of your clients qualifies as a legitimate expense. A new set of weights, mats, pull-up bars, or a treadmill may qualify as business expenses for a fitness instructor, as long as they are for business use only.
Yoga Teachers
As a yoga teacher, you can deduct the supplies you require for your yoga business such as yoga mats, props, spray bottles, towels, essential oils, and candles. The same goes for digital tools, such as online teaching platforms or yoga apps.
There are some other professions that allow you to deduct a yoga mat as a tax write-off.
Click here to find out how FlyFin can help you to take this as a deduction.
Frequently asked questions
FAQs
Can a social media influencer deduct the cost of a yoga mat?
Can gymnasts claim a yoga mat as a deduction?
What other expenses can you deduct as a yoga teacher?
Can a yoga instructor deduct the cost of athleisure?
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