When it comes to saving money in taxes, making the S-Corp election is by far one of my favorite strategies. However, a lot of barbers, braiders and hair stylist get these two things confused. There are 3 differences when it comes to an LLC and the S-Corporation every self employed hair...
If you're a barber, braider or hair stylist doing hair from home or thinking of setting up an at home hair salon or barbershop, there are a few things you should do to set yourself up properly from the very beginning.
A lot of hair professionals skip these steps or do them out...
Have you ever wondered what taxes you’re responsible for when you booth rent or rent a salon suite? No one enjoys paying taxes, but when you’re a business owner and self-employed it’s important to have a basic understanding of Federal Taxes. It’s much easier to understand...
Being told to have a separate business bank account from your personal account is one of the first things you’re ever told when starting a business. And even though everyone’s heard it, not everyone is doing it. I have a self-employed barber I’m working with now who went...
Self-employed barbers and hair stylists typically fall into two categories when we talk about business entities – they’re either sole proprietors or LLCs. Last week I talked about how the majority of barbers and hair stylists are taxed as sole proprietors (yes, even if you’re...
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If you’re a self-employed barber or hair stylist, you’re likely either working from a home salon, booth renting inside a hair salon/barbershop, or leasing small individual salon suite. The...