EP 04: The Business Side of Training: Set Yourself Up Right

In this episode of The Elite Trainer Podcast, Kyle is joined by Mind Pump’s Doug Egge to unpack the business and tax essentials every trainer needs to know. Whether you’re a brand-new coach or planning to go independent, you’ll learn how to structure your business, the pros and cons of an LLC, when to consider S-Corp taxation, and how to avoid costly mistakes with the IRS. Doug shares practical advice on write-offs, audits, tracking expenses, and building a long-term financial foundation as a trainer. This episode is packed with value—don’t skip it.

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Setting Up Your Training Business (00:00)
LLC vs Sole Proprietor — What Trainers Need to Know (02:56)
When to Start an LLC (05:43)
Why You Need a Separate Bank Account (07:12)
Big Mistakes to Avoid with Taxes (09:19)
LLC vs S-Corp — Save on Taxes (11:12)
Top Tax Deductions for Trainers (15:33)
The Audit Risks You Need to Know (18:00)
Hiring a CPA vs DIY Taxes (20:02)
How to Track Receipts & Stay Organized (22:11)
Using Software to Simplify Finances (24:17)
Final Advice for New Trainers Starting a Business (25:13)

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