I am not a tax professional, but I can provide some general information. The deductibility of hiring a business coach as a business expense may depend on several factors, including the tax laws in your jurisdiction and the specific nature of the coaching services.
In some cases, business coaching fees may be considered a deductible business expense if they are directly related to your business or profession and are aimed at improving or enhancing your skills, knowledge, or performance. Coaching services that help you develop or acquire new skills, improve business strategies, or increase efficiency and productivity might be more likely to qualify.
However, it's important to consult with a qualified tax professional or accountant who can provide guidance based on your specific circumstances and local tax laws. They will have the most up-to-date information on tax regulations and can help determine whether hiring a business coach would be tax deductible for your particular situation.
Regardless, finding the right business coach can be an excellent investment, providing you’re ready and willing to put in the work and be held accountable. If that’s you and you’d like to find out more about what we offer, visit our site and sign up for the free training.
Jeremy Overturf
Phenomenal Business Coaching