December 22, 2013
It is a true, life-changing story that can easily happen to anyone who is not classifying salon personnel correctly in the eyes of the government. You probably think you know the rules about employment classifications, but you’re probably wrong.
Keywords: booth rental employee issues independent contractors IRS Ken Cassidy
March 18, 2013
It’s almost time to pay the taxman. If you haven’t filed your returns, don’t fret. These tips can help ease the pain.
Keywords: income taxes
November 19, 2012
A self-employed worker, who is not subject to the same rules and regulations as an employee, and who has different rights or privileges than an employee; an independent contractor generally makes her own hours, pays her own taxes, and handles client payment directly (among other factors); the IRS determines whether a worker is an employee or independent contractor.
Keywords: booth rental business employee issues staff management taxes
November 19, 2012
A business structure that is common in the professional salon industry, booth rental is essentially a landlord-tenant arrangement between salon professional and salon owner; a booth renter will typically pay a flat monthly or weekly rent to a salon owner for the ability to work in a fixed salon; a booth renter ordinarily has a contract that outlines what expenses she is responsible for and what the salon owner pays for.
Keywords: booth rental taxes
March 29, 2012
“I love numbers. Call me crazy, but they’re fun,” says Marie Soto, owner of At Your Hands & Feet inside Antwon’s Salon in Glendale, Ariz. Good thing she’s fond of figures because she’s also the owner of Soto Tax and Accounting.
Keywords: My Other Life taxes
August 16, 2011
I visit Capitol Hill with the Professional Beauty Association to talk about pending legislation that could save salon owners thousands of dollars. Part of a PBA Lobby Day team, I met with Congress members to help the beauty industry’s voice be heard.
Keywords: Professional Beauty Association Professional Beauty Federation taxes
June 6, 2011
Believe it or not, some techs graduate from nail school and immediately open up their own salon. Most, however, wait to get some experience first. If you’re not ready for salon ownership, you can get to work as either an employee or a booth renter. Read on to learn the differences between these types of techs.
Keywords: career handbook compensation systems newbie taxes
May 19, 2011
For booth renters and salon owners, keeping track of income and expenses is not the most exciting task, but it’s a necessary one. Keeping your business records in order will not only keep Uncle Sam smiling, it will enable you to understand your financial footing.
Keywords: booth rental business tools income money taxes
May 13, 2011
The Professional Beauty Association (PBA) is lobbying to get this tax credit for salon owners passed. To find out more, visit http://www.beautyisourbusiness.org/
Keywords: Professional Beauty Association taxes tips
March 20, 2011
Keywords: business money taxes
As the April filing date nears, it’s time to double-check deductions and start planning for next year. Whether you are a one-station booth renter or a salon with multiple locations, you will want to make the most of every advantage the tax laws allow.
December 1, 2010
You can put more money in your pocket by doing effective tax planning. Before the year ends, take some time to consider the steps you can take to reduce your tax bill.
October 1, 2010
We know we should be saving for retirement — or taxes, or that vacation — but often we can’t seem to find a way. A free service called Auto-Save from Integrity Payment Systems automatically deducts a pre-determined amount each time a client pays with a credit card and deposits the amounts into an interest-bearing, no-minimum savings account.
Keywords: business finance keeping your business competitive money taxes
December 1, 2008
Find out how the Professional Beauty Association is advocating for the beauty industry at all levels of government and sign up for their newsletter to stay informed.
Keywords: legislation MMA Professional Beauty Association salon finances taxes
November 1, 2008
First and foremost keep your tipping policy client-friendly and report the tips as income.
Keywords: business taxes tipping
August 1, 2008
If you were thinking about remodeling the salon, this might be the time to fasttrack your plans. Earlier this year, Congress approved the Economic Stimulus Act in the hopes of aiding a sputtering economy. In addition to the individual tax rebates, the Economic Stimulus Act contains a provision that offers businesses increased tax deductions on purchases they make before the end of the year.
Keywords: business finance recession remodeling taxes