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April 13, 2023
Question

w-2 coaching and services

  • April 13, 2023
  • 1 reply
  • 0 views

How do I account for services provided as a coach.  I was paid as a coach for track and football but was paid on a W-2 but my average services is $50 hr but I basically gave discounted services for 900 hours of labor but received on 4500 on a w-2.  How do I receive a credit in my schedule c for that or can I take that at all?

    1 reply

    April 13, 2023

    If you received a W-2, your employer considers you as an employee. The Tax Cut and Job Act of 2017 suspended unreimbursed employee business expense until 2026.

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    ace01Author
    April 13, 2023

    That's so sad! Thank you for the information though