Can You Deduct Your Mastermind Membership? Here’s the Truth.

Let’s talk real for a second.

If you’re investing thousands of dollars a year into becoming a better leader, building a better business, and scaling your results through elite masterminds like The Boardroom — then you damn well better know how to make that investment work for you in more ways than one.

One of the biggest questions I get from members (especially newer entrepreneurs) is this:

“Can I write off my mastermind membership dues on my taxes?”

Short answer? Yes — if you’re smart about it.

Let’s unpack it.

The IRS Actually Wants You to Invest in Becoming a Better Business Owner

Here’s the deal:

The IRS allows business owners to deduct what it calls “ordinary and necessary expenses” that are directly related to running and growing a business.

That includes:

• Continuing education

• Business training

• Coaching and consulting

• Leadership development

• And yes... mastermind memberships

But it has to pass the smell test. The expense has to either maintain or improve the skills you already use in your business, or be required to stay in your current role (think CE credits, licenses, etc.).

Why The Boardroom Mastermind Qualifies

Let’s not beat around the bush — Boardroom isn’t just a networking event. It’s not fluff. It’s:

 ✅ Business systems training
✅ Hiring and scaling frameworks
✅ Marketing and sales strategy
✅ Leadership and mindset elevation
✅ Deal structuring and finance deep dives
✅ And ongoing mentorship from other elite business owners

If you’re actively operating a real estate business, an agency, a service-based business — or anything in between — and you’re applying what you learn to grow that business, then this qualifies as a legit, tax-deductible expense.

How to Structure It Properly

Here’s how to make the deduction clean and audit-proof:

1. Pay Through Your Business

• Have your LLC, S-Corp, or C-Corp pay the dues directly.

• Or, pay personally and have your business reimburse you (with documentation).

2. Categorize It Correctly

Depending on how your entity is structured:

3. Keep Your Records Tight

• Save the invoice and receipt with your business name

• Keep the event agenda or program showing what was taught

• Take notes, screenshots, or summaries of what you implemented

That way, you’re not just saying it helped your business — you can prove it.

What You Can’t Do

Let’s get this clear:

• You can’t deduct ANY mastermind if you’re not actually running a business yet.

• You can’t deduct ANY personal development or life coaching expense.

• You can’t try to claim it as a charitable donation (even though Boardroom does a ton for charity — that’s separate)

Bottom Line

If you’re serious about becoming a world-class entrepreneur — joining a mastermind like Boardroom is one of the smartest moves you can make.

And yes, when done right, your investment is completely tax-deductible.

But don’t wing it. Talk to your CPA, hand them this article, and make sure your records are tight.

You’re not just building a business.
You’re building a machine.
And every smart operator knows how to play the tax game as well as they play the business game.

Let’s go.