During this time of year, many of us are banging our heads against the wall trying to get taxes done so we can be bled dry as punishment for being self-employed. Ignorance of the laws and regulations may not save you from penalty should you be chosen for an audit. There are rules for different situations in the salon and differing opinions on what they are. You don't want to leave something this serious to someone's personal opinion, even if it's your trusted accountant. A little homework and research never hurt anyone. Here is an official document that the IRS has available that offers some explanations on taxes for salons that you might find useful. Good luck!!
http://www.irs.gov/pub/irs-pdf/p4902.pdf
— Holly
For reprint and licensing requests for this article, Click here.
media brand
