Do you pay taxes on your memberships at the gyms/clubs you work at?
I work at a public university, and to be compliant with tax laws, they are requiring all of my staff to complete forms that state they accept it as a taxable benefit and will claim it as such (many of my staff that have to do this are contractors). I have worked in several other gyms before and have generally been given a membership before I even started to teach, so I’m curious what do your gyms do / handle this?
Hi Ashley. I’ve never heard of this before either! As a matter of fact, I used to be the Director of Wellness, Fitness and Recreation at a local College and none of our student staff had to do this. This is a bit perplexing because I know that many gyms around the country offer “free” memberships to their fitness staff, as one of their perks. Yet, I’ve NEVER heard of any of them producing a 1099 or other tax form at the end of the year for the value of that membership. Hmmm.
LaRue, CSCS
www.lecfitness.com
[email protected]