Wood CPA, PLLC

10/08/2026

Own or lease a studio, gym, or clinic? The money you spend on that space is treated three different ways at tax time. 💸

✅ Deducted this year: Your rent in full, plus the space's utilities, CAM charges, commercial insurance, and signage. Also ongoing repairs, so patching drywall, repainting, and fixing a faucet all count now.

⏳ Deducted gradually: Your build-out. Mirrors, sprung floors, treatment room plumbing, a reception desk. Anything that improves the space instead of just maintaining it.

❌ Not deductible: Your security deposit. It's an asset until it's applied or forfeited, not an expense when you write the check.

Signed a lease or finished a build-out this year? Schedule a call with me on our website and let's chat about what you can expect at tax time.

For a complete breakdown of business deductibles in 2026, check out our newest blog if you haven't already! 👉️ https://woodcpamn.com/tax-write-offs-for-wellness-businesses-in-2026-what-you-can-actually-deduct/

09/30/2026

We love our nonprofit clients! 💜

Thinking of becoming one? Head to our website and schedule a free consultation call. We can't wait to meet you and learn about your organization.

Schedule your call 👉️ https://woodcpamn.com/

09/23/2026

Quick deductible reference for health and wellness business owners.

✅ Generally deductible: equipment, supplies, booking software, conference travel, professional dues (minus any lobbying portion), team events and holiday parties

🤔 Depends: meals (50% for clients and business travel, but no longer deductible for feeding your team to work late), clothing (uniforms only, though logo apparel can count as advertising), cell phone reimbursements

❌ Not deductible: personal appearance costs, commuting miles, country club or athletic club memberships (yes, even for networking), your own gym membership, entertainment and golf outings

Here's the question you should be asking yourself: would you have spent this money if the business didn't exist? If the answer is yes, it's usually not deductible.

For a complete breakdown of business deductibles in 2026, check out our newest blog 👉️ https://woodcpamn.com/tax-write-offs-for-wellness-businesses-in-2026-what-you-can-actually-deduct/

09/16/2026

"Should I put my car in the business name?" 🤔

I get this question constantly from small business owners. My answer is almost always no.

Why? Because putting the vehicle in the business name doesn't actually save you the money you think it will. It requires the same recordkeeping you'd do anyway if you'd opted to just track your mileage instead. Except when it's in the business name, any personal use will come back to bite you in the form of income that you must pay taxes on at the end of the year.

Not to mention it's an area the IRS looks at very closely, so trying to cut corners here is ill-advised.

Unless your business needs a vehicle all day to do the job, keeping the title personal and tracking mileage is usually the better move. For 2026 the rate is 72.5 cents per mile through June, then 76 cents.

Questions about deductions for 2026? Don't wait until April to ask. Send me a message or visit our website to book a free call today.

For a complete breakdown of business deductibles in 2026, check out our newest blog 👉️ https://woodcpamn.com/tax-write-offs-for-wellness-businesses-in-2026-what-you-can-actually-deduct/

09/02/2026

💡 Did you know? Your gym & studio memberships may be subject to sales tax.

Most gym and wellness business owners don't realize their memberships might be subject to sales tax until its tax time.

I once worked with a gym owner who was in that exact situation. Luckily, we found a way to get him a much bigger deduction by properly writing off his equipment and the buildout of his space. This offset the losses from his miscalculation.

Sales taxes on memberships is exactly the kind of thing a generalist accountant might miss. But a CPA who knows the fitness industry knows to look for it.

A few other blind spots I see constantly with wellness business owners:
✔️ Sales tax / provider tax exposure
✔️ Contractor vs. employee classification for trainers & instructors
✔️ Knowing how (and how much) to pay themselves

If any of these sound familiar, let's talk.

Learn more or schedule a call: woodcpamn.com

08/26/2026

Health and wellness businesses deal with things most other businesses don't:

- Membership models
- Independent contractor instructors
- Insurance reimbursements
- Seasonal cash flow swings
- Sometimes multi-state tax issues

Sure, a generalist CPA can file your taxes. But when you choose to work with a CPA who actually specializes in the health and wellness industry, you will:

- Never have to worry about being compliant, because your CPA knows your industry's tax laws
- Rest easy knowing your equipment, and buildouts are being depreciated correctly (which equals more write-offs for you)
- Have the confidence that your entity structure actually fits how you operate
- Be able to plan cash flow ahead of time because your CPA understands your slow season
- ...and so much more.

You didn't start your gym or wellness practice to become a tax expert. Let me handle the numbers so you can focus on helping your clients become healthier and happier.

Visit our website today to learn how we can help: https://woodcpamn.com/

08/22/2026

When I had my kids, I started paying attention to health in a way I never had before.

My parents were never the "healthy type." In fact, they were the opposite of healthy (heavy smokers, sedentary for most of their lives - it was a different time).

The result of that is that now, when my kids have sports events, they don't have their grandparents there to cheer them on.

That's part of why I ended up specializing in health & wellness businesses. It started as a personal mission: I never want to be the grandparent who can't show up. Staying active, eating right, staying strong... it's not optional to me anymore.

That personal drive is exactly why I love working with gyms, studios, and wellness practices. I want to use my skills to help businesses who help people be healthy, happy, and strong.

That's my why. What's yours?

Read the full blog at https://woodcpamn.com/blog/

08/17/2026

The busiest months of the year with kids in school:

🗓️ May - end of school year activities and schedules changing
🗓️ August - beginning of school year activities and schedules changing
🗓️ December - all things Christmas and school break

What did I miss?! 🤯

07/31/2026

💌 Seeking a Bookkeeper who knows QuickBooks Online inside and out!

We’re a small CPA firm looking for a detail-loving, client-focused bookkeeper who enjoys working with multiple businesses. In this role, you’ll help a variety of clients stay organized, accurate, and confident with their financials while being part of a supportive, responsive team.

If you like balancing the books, solving problems, communicating with clients, and seeing how your work helps real businesses make better decisions, this could be a great fit.

What you’ll enjoy:
· Variety across multiple client industries
· A collaborative small-firm environment
· Meaningful client relationships

See full job description and apply on our website: https://woodcpamn.com/careers/

Please like and share the post to reach others!

Explore careers at Wood CPA — a growing Minnesota CPA firm offering competitive pay, real mentorship from the founder, and meaningful work serving health & wellness clients.

07/23/2026

Please join us today as we say goodbye to Andria! She is moving out of state to be closer to family. Stop by our office today anytime between 2:00 and 4:00 for treats and drinks!

She has done a fantastic job building relationships with clients and keeping the work flowing. I thank her for her complete dedication, hard work, funny memes, and passion to help the firm grow and thrive. Once she gets settled in to her new place, she will still be supporting the firm in the background at some capacity (we will figure that out when the time comes!). Andria and I have become friends and I will greatly miss her smiling face every day, but family always comes first.

7300 Metro Blvd, Suite 205, Edina