Accounting for fitness studios in Ontario
Gyms and studios run on recurring memberships, class packs, and trainers who may be staff or contractors, all of which shape revenue timing.
CRA EFILE authorized · Data stored in Canada · Every file reviewed by an accountant
taxifi · Fitness Studios
This month
- Bookkeeping Current
- Payroll & source deductions Filed
- HST Filed
- Year-end tax (T2) On track
The problems we take off your plate
Recurring and prepaid memberships
Memberships and class packs are recognized over the period they cover, not all at once, so income isn't overstated.
Trainers: staff or contractors
Trainer pay is handled correctly whether they're employees or contractors, with the right reporting to CRA.
Equipment at year-end
Studio equipment is claimed over time through capital cost allowance, tracked by your accountant.
What’s included
One flat monthly price for incorporated Ontario fitness studios. Everything below is in it.
- Recurring membership and class-pack revenue tracked
- Payroll or contractor reporting for trainers
- HST returns prepared and filed
- Equipment tracked for capital cost allowance
- Year-end corporate tax (T2), included
| Area | A typical setup | With taxifi |
|---|---|---|
| Your books | Weeks or months behind | Current every day |
| Year-end (T2) | A spring scramble, billed extra | Included, no surprise invoice |
| Your accountant | Metered by the hour | Unlimited questions, flat monthly |
Common questions
How is membership revenue handled?
Recurring and prepaid memberships are recognized over the period they cover, not all at once.
My trainers are contractors. Is that handled?
Yes. Contractor payments are reported correctly, separate from employee payroll.
Books and taxes for your fitness studio, done
One flat monthly price for Ontario businesses, scoped on a discovery call.
Book a discovery call