19 Items You Can Deduct as a Home Based Professional Coach

Below are 19 common deductions for someone working from home (as over 90% of coaches do).

Have fun and enjoy spending your income on deductible related expenses. I like to spend my money on coaching and life improvement or success books, and on coach training materials or programs.

Keep track of your receipts and easily enter the numbers into your accounting books. After you have entered it in, mark the receipt as "entered" and store it in an appropriately labeled envelope. ("June Outgoing" for example.)

As a coach working from home, what can I deduct?

1. A portion of air conditioning, electricity, heat, and water.
2. A portion of your house insurance or renters insurance.
3. A portion of your rent or mortgage can be deductible if you have a space that is dedicated to the use of your home office. (All the more reason to make a home office for yourself.)
4. Bank account, check cashing and check replacement fees. Paypal related fees as well.
5. Books related to coaching, life change, marketing, business, taxes, bookkeeping, success, self help, weight loss, health, psychology. Any topic that could improve your business is acceptable. (This is my favorite expenditure. I could shop for years and buy only books.)
6. Cleaning supplies. This includes waste baskets, cloths, floor cleaners, mops, broom, dust pans and so on.
7. Computer parts/ supplies.
8. Salaries: general employees, assistants, secretaries, receptionists, accountants, bookkeepers. (If they are contract employees you will not have to pay them medical and dental benefits they are responsible to pay those.)
9. Interest on any business related borrowing you did, though for a home coaching business it is rarely necessary to borrow to start your business. This would include credit card interest as well.
10. Internet associated fees.
11. Mail related items: stamps, envelopes, gas used to mail the letter.
12. Maintenance and repairs including waste, leaves and snow removal.
13. Office furniture. Think chair, desk, file cabinet, and book shelf. Buy something you like. If it is used you will need the seller to sign a receipt so you can record it in your bookkeeping. And if you put on seminars on a regular basis that equipment is deductible as well. (Most conference centers now have all the equipment you need though.)
14. Office supplies. Paper, pens, paper clips, memo pads, sticky pads, calculator, high lighters, pencils, stapler, hole puncher, and binders.
15. Phone. Smart phone and old fashioned. (Anything with a clear line.)
16. Printer parts/ supplies.
7. Security system.
18. Software.
19. Training. (Coaching or business related. What better reason to get yourself certified than that? Well maybe that you will be able to then tell potential clients you are officially certified as a coach.)