Tax Information
Tax handling and reporting for your gym. Here's what you need to know for tax time.
Important Disclaimer
FTNSS does not provide tax advice. This information is for general guidance only. Please consult a qualified tax professional for advice specific to your situation.
1099-K Forms (US Partners)
If you're a US-based gym partner, Stripe may issue you a 1099-K form if you meet the IRS thresholds:
- $600 or more in gross payments during the calendar year
The 1099-K is issued by Stripe, not FTNSS. It will be available in your Stripe Dashboard by January 31st each year.
International Partners
Tax requirements vary by country. In general:
- You are responsible for reporting income to your local tax authority
- FTNSS does not withhold taxes from your payouts
- Keep records of all transactions for your tax filings
- Consult a local tax professional for guidance specific to your country
Sales Tax
Sales tax handling depends on your location:
- FTNSS does not automatically collect or remit sales tax on your behalf
- Some jurisdictions require gyms to collect sales tax on membership fees
- Check with your local tax authority or accountant for requirements
- You may need to factor sales tax into your pricing strategy
Keeping Records
Good record-keeping makes tax time easier:
- Export your transaction history regularly from the Partner Dashboard
- Keep records of all payouts received
- Save any invoices or receipts related to your FTNSS business
- Track any business expenses that may be deductible
Important Dates (US)
1099-K forms available in StripeJanuary 31
Tax filing deadline (individuals)April 15
Quarterly estimated taxes dueApr 15, Jun 15, Sep 15, Jan 15