You have many tax advantages when you operate your own business.

For example, setting up a business gym on your business premises or in a separate building can create

a tax deduction for the business, and

tax-free benefits for the employees—and possibly for you too.

But you need to pick the right tax code section along with the right IRS regulations to ensure the deductions and tax-free status.

The Winding Road

You would think that lawmakers could give you a clear tax path to a business gym deduction. But instead you have a winding road before you.

Don’t worry! We’ll create a clear path.

But first, you need to be aware of the two conflicting Internal Revenue Code sections, described below:1

IRC Section 132(j)(4). On-premises gyms and other athletic facilities.   In general. Gross income shall not include the value of any on-premises athletic facility provided by an employer to his employees.   On-premises athletic facility. For purposes of this paragraph, the term “on-premises athletic facility” means any gym or other athletic facility—   · which is located on the premises of the employer, · which ... Log in to view full article. Log in to view full article Already a subscriber? Email Address REQUIRED Password Log In Send me my password Please answer this question: Are you a tax professional (e.g., tax preparer or tax attorney)?   YES     NO FREE TRIAL You'll be able to read the full article and get instant access to the last few issues of the Tax Reduction Letter Not yet a subscriber?   SUBSCRIBE with a money-back guarantee