BARBERS and Hair Stylists BEWARE! What You Don't Know About Taxes!

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 Federal Taxes when you’re self-employed when you first understand how Federal Taxes are handled when someone has a regular job where the taxes are taken out for them.

In this video I go over how federal taxes are withheld from paychecks for people with jobs (think commission or salary) compared to the federal taxes that you’re responsible for withholding when you work for yourself in the hair industry.

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ABOUT ME (JENN)

Before starting my own business coaching and accounting firm I…

Grew a struggling hair salon to a multi-6 figure business in 5 years
Spoke to cosmetology students on the business side of the hair industry
Worked as a tax analyst and specialist at HR Block Small Business Advisors
Distributed hair products to hair salons and barbershops along the East Coast
Created a product line and online hair product eCommerce store
Imported hair products from the Dominican Republic
Received my degree in Economics from the University of Maryland at College Park

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DISCLAIMER

This video is for informational purposes only and may not be accurate for your unique situation. Before applying anything stated in this video, please consult with your tax advisors. For unique tax situations, please consult with your tax advisor. Thanks for watching!