Tag Archives: Earned income tax credit

Hair Salons Tax Credits, SEO and The Habits of Football Stars

black hair salons photo

Photo by stevendepolo

If you work in a hair salon, either as an employee or an independent contractor, your taxes can get quite messy at the end of tax season. Depending on the agreement, you have with your employer, you may be able to deduct some of your expenses as tax credits. However, knowing which expenses you are allowed to deduct from your taxes can be tricky. If you file it wrong, the least of your worries will be the loss of your license. This article is designed to help you figure out what you can legally deduct from your taxes.

For starters, you will need to figure out whether you fall into the category of employee or independent contractor. If you are hired by the establishment and don’t pay rent or floor space fees then you are classified as an employee. The salon you work for will probably give you a pay check at the end of the month and they are responsible for calculating and deducting your tax payments. However, in your own interest, you should keep proper records of all finances and tax deductions. If on the other hand, you are not employed by the establishment and instead pay for floor space to work in the place, you are regarded as an independent contractor. Most hair experts fall into this category. In some states, you need to have a license to be allowed to work as an independent contractor but even if you don’t have one, for tax reasons, you will be regarded as a contractor.

It pays to keep really good records of all your expenses. You may want to keep copies of all your receipts for purchases made in the line of your job in order to show proof of payment. If you are not good at keeping receipts, another alternative is to make all payments by cheque or a credit card. This way your bank statement will show a record of the transaction and you can use it as evidence when filing for tax deductions.

Any money you get paid whether in cash or check should be added up. The total is your gross income. You will fill in your gross income on the schedule C part of your tax forms if you are a contractor or on Schedule A if you are an employee. You will need to subtract your expenses from your gross income to determine how much of your income you’re supposed to pay tax on. You can subtract floor space or rent, the cost of equipment like scissors and combs (unless your employer reimburses you for them), the cost of licenses, the cost of chemicals like hair dyes and shampoo that you use and a few other expenses necessary for you to carry out your job. After you deducted all these from your gross income, you now arrive at your taxable income. It is important to be able to show proof of payment for all your deductions. Tax authorities can demand to see them. Hence the need for receipts and annotated bank statements. Your tax is calculated based on your taxable income and not your gross income. If you are uncertain about how much tax you owe the Government or have trouble calculating your taxable income, please contact a financial expert as soon as possible. They will charge you for sorting out your tax but the peace of mind you will gain knowing the IRS is not about to come knocking on your door asking why the government is being shortchanged by you is worth it.

Hair Salon SEO (Search Engine Optimization)

If your salon does not, show up on the first page of google, no one will be able to find you online. When customers do a search, they tend to focus on the top 3 results on the first page. If your hair salon is not in that region, you might as well not exist online. Luckily, there are a few things you can do to improve your search ranking on google:

1. Make sure your website looks good on mobile. Most customers own a smartphone these days and about 80% of searches are from mobile. If your site is not optimized for mobile, they are not going to stick around long enough to find out what makes you great.

2. Think about the words or phrases your customers are likely to look for and write good articles about them on your site and blog. The more relevant terms your site has, the more likely it is to have a higher ranking.

3. Make sure your salon’s location is registered on google so customers can easily find it using google maps. Nobody wants to spend two hours looking for a salon in an unfamiliar neighborhood. If they can’t get directions to it, they will find another one.

4. Write a very good meta description with relevant terms. A meta is a short description of about 160 characters that tells what your website is all about. It also shows up on google searches so use as many relevant terms as possible. Make sure it contains words like hairdresser, hairstylist’ and services you offer.

Football Player Hair Routines

Many sports fans tend to have a fixation with football players. At the end of the game, when they take off their helmets and are about to give an interview, one thing people notice is their hair. Whether stylistically waxed or spiked to stand at an odd angle, there is no denying that hair has seen its fair share of beauty care products. However, if there is a standard product that is being used by Football players around the world, they are yet to share it with us. The truth is most football players don’t know what hair care product they use anyway. It’s a non-issue for them but you don’t have to take our word for it. Elle.com cornered three football players to ask them about their grooming practices, you can find out what they said below:

Mark Schlereth photo

Photo by WEBN-TV

Mark Schlereth, Former NFL player recently turned football commentator has great hair. However, when asked if he uses a specific product. He replied that he changes brands every so often that he couldn’t say what he was currently using. Pressed for further details, he admitted he only washed his hair with soap but didn’t add anything else to it.

Kirk Cousins, a quarterback was just as much help. He admitted to not knowing anything about hair products but rather relied on his fiancee’s expertise in that area to help him select an appropriate product. If you are looking to duplicate his clean-shaven look, you better have a fiancée that knows a lot about hair care because Cousins does not. He did admit he pays more attention to his hair as a professional than he did while playing college football. The reason: people noticed.

Jamal Charles, a running back is the one who admitted to using many products to take care of his straight long hair. He has a stylist who he trusts to treat his hair with lots of products, all natural. He also keeps hairspray in his bag and is also big on cologne.

Perhaps just like the rest of us, football players also fall into the category of those who pay attention to their hair and those who do not. Yet, they will continue to get plenty of attention for what they do to their hair. Maybe if you got famous too people would notice your hair regardless whether you take care of it or not.

Everything You Should Know About Hair Product Tax Credits

Hair Tax Deductions photo

Photo by Chloë Rae

Small business owners should be aware of all tax credits while operating their business. Hairdressers have the same responsibilities like any other professionals. They need to collect and separate tax information in order to work under national tax regulations. Hair product tax credits represent those hair products and tax information that might bring additional profit to hairdressers. Some supplies are deductible when you want to claim your taxes and that is a huge benefit. Overall tax deductions can make a real difference. For that reason, you should know some important information about the hair product tax credits.

First of all, the national tax plan is more than fair for all hairdressers. There are many hair products that do not require taxation, which is very useful. On the other hand, business owners face two different types of tax credits. One of them is investment tax credit and the other one is production tax credit. Both of them can apply to every hairdressing salon. In this specific case, hair product tax credits are part of the investment program. Regulations can significantly lower the percent of investment in these kind of products. That brings numerous benefits for those who are in the business. Tip: Software like Turbotax Advantage will quickly and accurately report your deductions for your hair salon on your taxes.

What products are included?

If you are interested in this kind of tax credit, you should know what type of products might be included. Hairdressers use a lot of hair coloring products, shampoos and hairsprays. Other products are different types of mousse and conditioners. They all can be part of deduction if all requirements are met. What should you do if you want to get tax credit? Prepare some important stuff during the procedure.

Employees must follow the overall habits of their employers. If you work for the employer who do not pay for product supplies, then you should deduct these costs from your tax sheet. Each product must be part of detailed reports, because the employee should claim the exact deduction. Buying and managing hair products are part of successful business. For that reason, people from this business should follow the main rules of management. Take care of each report and tax sheet you use, because tax credits might be more lucrative than you think.

The impact of tax credits is sometimes very profound. Hairdressing salon can get real advantages. That is why some owners use different methods to get tax credits. Buying the products that fall under the deduction is one of the solutions. Some specialists claim that specific type of products should be part of deduction procedure. Biodegradable and organic shampoos are not only good for environment, but also for hairdressers. They can serve as ecological solutions for national regulations in most states.

Being ecologically conscious

Business owners continuously draw attention to ecological impact. They want to make simpler regulations when it comes to ecologically oriented hair products. The main goal is getting more options for hair product tax credits. Both sides can benefit from these kinds of programs if the action brings awareness among legal authorities.

Deducting tax amounts from organic shampoo, for example, might be a boost for this industry area. Some small manufacturers try to stay relevant on the market and they need the right support. Overall economy might increase in size if this idea becomes widely known. Manufacturers will produce more organic products and buyers will get some quality supplies. Buyers are not only people who get the products from the stores. The main buyers could be hairdressers who want to use reliable products for their clientele. At the same time, they pay less tax amounts, because of using ecological products.

This idea is still under development, but it has a bright future. Hairdressers see their profit, while national organizations see more sustainable growth. Both sides can change the overall satisfaction of each costumer. People use hairdressing service with much consideration and they all want to get the best hair care. The right products are ideal for the purpose of reaching costumer satisfaction. Just like any other business, a hairdressing salon depends on the opinion of the service users.