Topic : taxes

When the Economy Slows, Smart Salons Adapt

June 1, 2007  | Article

While the thought of an economic slowdown — or other financial challenge — can be scary, it can also be the catalyst for change. Take heart and learn from the struggles and strategies of two business owners who came out on top.

Contract Labor, Booth Renter, or Employee — What Are They Really?

March 1, 2005  | Article

If they were audited, a large percentage of the salon owners in the beauty industry today could not pass the tests determining their workers’ tax status imposed by the IRS or by their individual state, says our expert. As tax time approaches, know the facts. The financial fall-out from misclassifying your staff can be devastating.

Cut Your Cost to Boost Your Profits

October 1, 2002  | Article

As competition and tough economic times keep service prices flat, salon owners and booth renters need to look elsewhere to increase profits. Learn ways to cut your overhead costs — without sacrificing customer service.

Senate and House Introduce Tax Fairness Act of 2000

January 1, 2001  | Article

Right on the Money? A Pro and Con Look at Tipping

November 1, 1999  | Article

The rumors of an IRS crackdown on salon tip reporting is causing salon owners and nail technicians once again to examine their gratuity policies.

You're Being Audited! One Salon Owner's Harrowing IRS Journey

June 1, 1997  | Article

If the IRS asked to examine your salon's Federal Tax returns, would you survive the audit? Read on for an account of a salon owner who thought she was doing everything "by the book."

Who Pays for Licensing Fraud?

September 1, 1995  | Article

Crime may not pay, but beauty professionals do when people cheat at getting a license, or just work without one. What’s the cost? Increased licensing fees, more rigorous application processes, and a damaged reputation for the entire industry.

Independent Contractor or Employee?

February 1, 1991  | Article

The first thing you should know about the difference between being an employee and being an independent contractor is that the choice may not be up to you. Stay on the right side of the law ... and the IRS.