How Equipment Purchases Boost Your Bottom Line

Each time you invest in new dumbbells, treadmills, or any studio upgrade, you’re adding valuable assets that can be tracked and deducted over time. Equipment purchases for fitness businesses typically fall under dedicated bookkeeping codes in your chart of accounts (e.g., “Equipment Purchases” or “Asset Depreciation”), ensuring your spend delivers ongoing financial benefits—even years after the initial buy.

• Deductible gear includes weights, cardio machines, mats, recovery tech, and even studio fixtures - if used for your business

• Categorizing these purchases correctly in your books means higher potential deductions and stronger year-end returns

Why Tracking Assets (Not Just Expenses) Matters

It’s not enough to record gear purchases as “expenses”—you’ll unlock bigger tax benefits when you set up proper asset tracking, depreciation schedules, and recurring reviews in your accounting software.

• Fitness-specific bookkeeping best practices call for asset tracking and depreciation - a way to spread the deduction over the life of your equipment.

• Using QuickBooks or similar platforms, set up categories like "6200 Equipment Purchases" and "6210 Equipment Maintenance/Repairs," then link these to your depreciation reports.

• This disciplined tracking not only minimizes missed write-offs - it gives you a clear view of studio reinvestment and future upgrade budgets.

Actionable Quick Wins for Studio Owners

• Catalog every gear purchase with receipts, serial numbers, and dates for audit readiness and maintenance reminders.

• Update your QuickBooks asset schedule monthly. Pro tip: Automate depreciation entries for major equipment using build-in calculators or templates.

• Schedule quarterly reviews - don't wait for tax season to discover missing deductions.

---

"Every set of plates and every smart treadmill should show up in your books both as a business investment and a tax-savings move, not just a monthly expense."

-- Michael Wilkesen, Fit Profit Partners

---

Imagine this: Last winter, a busy studio owner bought new functional trainers and massage tables but tracked them as simple expenses. After a year working with a fitness and wellness focused bookkeeper, she recategorized everything, set up depreciation schedules, and found $4,000 in added deductions - enough for a team outing and a brand-new class series!

Ready to build financial strenth for your fitness business? Book your initial strategy session and discover how specialized bookkeeping can transform your bottom line, Let's Get Fiscal

---

About the Author: Michael Wilkesen, Financial Fitness Coach and founder of Fit Profit Partners, delivers specialized bookkeeping expertise exclusively to fitness and wellness professioinals. Learn more about Michael's background an qualifications: Your Financial Fitness Coach

Services provided are for tax organization, planning, and bookkeeping support. I do not provide CPA or attorney-level tax representation or formal tax opinions