MENU
SEARCHOur favorite industry CPA April McDaniel offers advice for what you can write-off as expenses when you attend an industry conference.
Kopsa Otte's April McDaniel, CPA, CRSP, offers advice on writing off business trips.
April McDaniel
Are you considering going to a conference this year like SALON TODAY'sData-Driven Salon Summit? Thinking about the costs?
Let’s talk about what that conference really costs when you consider the tax benefits of the expenses.
The short answer is most expenses related to conference travel are deductible as long as you can show that your attendance benefits your business.
What does that mean?
Let’s use the example that you spend $1,000 total on your business trip. Do it right and it really costs you on an average $750. That’s a savings of 25%! Of course, this varies based on your personal tax-bracket, but you get the point.
But wait…. the IRS has some rules on how to make sure these deductions aren’t disallowed if they come knocking for an audit. Documenting the business purpose and keeping receipts if the expense is over $75 are two examples. In most cases, the credit card statement is not enough documentation.
Here are some examples of deductible travel expenses:
Travel by airplane, train, bus or car between your home and the conference.
Fares for taxis or other types of transportation between:
The airport and your hotel.
The hotel and the conference location.
To and from a business meal.
Shipping of baggage.
Using your car while at the conference: You can deduct actual expenses or the standard mileage rate, as well as business-related tolls and parking fees. If you rent a car, you can deduct only the business-use portion for the expenses.
Lodging – must have a detailed list of charges.
Non entertainment-related meals.
Dry cleaning and laundry.
Tips you pay for services related to any of these expenses.
Remember if employees travel with you and request reimbursement of their expenses you must have an Accountable Plan document in place and gather the required documentation from them to reimburse them and deduct the expenses.
Join us at Data-Driven Salon Summit on May 5-6 in Denver, Colorado, collect your tax write-off and drop by Kopsa Otte's table to ask April McDaniel any of your tax-related business questions.
Disclaimer:Because every situation is different, it is important that individuals seeking specific advice contact a professional advisor. The information provided does not constitute legal, tax, accounting, or financial advice and is offered as an information service only. No liability whatsoever is assumed in connection with the use of this information.
Originally posted on Salon Today
Square data shows that regular customers tip 11% higher and are shared across 32% of businesses in the same ZIP code, driving thousands of dollars in additional revenue per connection.
When Bowie Lau and Jeffrey Ching opened JBW Jeffrey Ching Salon in 2011, they weren’t just launching another luxury hair destination—they were building a business rooted in passion, artistry, and thoughtful growth.
Sponsored by Amex
Inside the Systems That Power an Elevated Salon Experience From seamless online booking to a team-first culture, J Gold Salon in Atlanta offers more than great hair—it delivers consistent, high-touch service with the help of partners like Boulevard and American Express.
Sponsored by Amex
Want to grow your career as a beauty professional? K18 Sales Manager Sabrina Sanborn shares advice on networking, mentorship, and self-advocacy—from attending hair shows to finding the right guidance to reach your goals.
A combination of clear policies, effective communication, and strong client relationships has helped me create a more reliable and efficient booking system.
Founded by Cleveland serial entrepreneur Shaura Rodgers, Nailtorious has grown to include a nail supply megastore, training facilities, and retail line for nail techs.
This period after the holidays can bring on a huge lull for hairstylists. We asked Cosmo Prof's team of professionals to offer their best advice on how to deal with the January-February slow period.
Key highlights include a push toward inclusive spaces for all abilities, an emphasis on maximizing livable square footage, and a continued love for modern farmhouse exteriors.
The busy holiday season is here, and with it comes jam-packed days, last-minute client requests and booming retail sales. For many salon owners, the highlight of the season is Small Business Saturday® (SBS). This year on Saturday, November 30, consumers can take their shopping into the small businesses in their communities.
Sponsored by Amex
Want to become savvy about your personal finances, but don't quite know where to start? Anna Manukyan identifies six important concepts for building a strong financial foundation.
Salon owner Nuri Yurt had a dream of owning a salon on New York City’s Madison Avenue. "Through perseverance, hard work and stellar customer service, he and partner John Kaygisiz founded Toka Salon in 2007.
Sponsored by Amex
This guide is your one-stop shop for a plethora of technology tools, software and services created to keep your salon or spa thriving.
Anna Manukyan shares a breakdown of what different types of financial accounts should be used for.
Vagaro has consistently been at the forefront of salon software technology, helping businesses be more efficient, create more effective communication, and even improve company culture. Now, Connect by Vagaro, the platform’s two-way communication capability, and Vagaro’s new generative AI tools are giving owners new opportunities to grow and expand.
Sponsored by Vagaro
Young Nails' Greg, Habib, and Tracey discuss whether getting too close to clients can damage your business.
This list of watch-outs from @jodydoesjels prompted us to reach out to her and learn more. We had already fallen for her hand-painted designs and now we wanted to know more about this list she created to help clients decide if she was the nail tech for them.
Education is necessary for beauty professionals to maintain their cosmetology licenses, and paying for that education can be burdensome, but it doesn't have to be. Understand which education tax credits can help you offset those costs.
