Disclaimer: The advice detailed below is for educational purposes only and is not meant to replace a certified tax professional nor should it be construed as legal advice. Members should seek proper legal and/or tax advice from licensed and/or certified professionals.
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Booth Rent
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Utilities (If not included in your lease)
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Towel/Cape/Gown Purchases/Service Fee
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Equipment Purchases/Rental Fees
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Laundry Services/Supplies
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Detergent
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Dryer sheets
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Bleach
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Laundry basket
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Back-bar Supplies/Fees
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Shampoo
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Conditioner
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Treatments
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Styling products
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Chemical Supplies/Fees
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Color
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Developer
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Perm kits
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New Supplies
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Perm rods
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Brushes
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Tint bowls/brushes
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Foils
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Clips
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Bobby pins
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Wax supplies
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Wax Supplies
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Facial Supplies
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Pedicure/Manicure Supplies
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New Tools
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Shears
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Hot tools
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Razors
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Hand dryers
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Cleaning Supplies
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Barbicide
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Paper towels
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Towels/wash clothes
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Alcohol
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Surface cleaners
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Retail Purchases For Sale (Only if sold to clients, inventory counts as an asset.)
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Shear Sharpening
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Credit Card Fees
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Annual fees
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Late payment fees
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Interest
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Processing Fees
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Bank Fees
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Monthly service fees
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ATM fees
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Overdraft fees
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Deposit fees
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Wire transfer fees
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Contract Labor
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Paid Advertising
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Facebook ads
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Instagram ads
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Radio ads
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Newspaper ads
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Billboards
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Printed Publications
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Flyers
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Menus
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Business cards
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Promotional Items
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Key chains
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T-shirts
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Pens
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Office Supplies
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Notebooks
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Post-its
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Pens
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Phone (Only 50% if also used for personal.)
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Mileage or Fuel (From salon to supplies store, classes or on-site services, business meetings with partners, employees, suppliers, vendors, and consultants, etc.)
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Continuing Education
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Licensing Fees
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Permits
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Resale permits
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Permits required by government agencies
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Business Professional Fees
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Accountant
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Lawyer
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Website designer
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Subscriptions & Dues
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Membership fees
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Music
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Amazon Prime
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Sam’s Club
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Costco
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Website
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Domain names
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Hosting
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Subscription website services (Wix, Squarespace)
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Themes
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Plugins
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Stock photos
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Charitable Contributions (Cash and in-kind donations you made to charity. For a donation to be tax deductible, the organization must be categorized as a 501(c)(3) non-profit.)
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Decor
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Curtains
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Rugs
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Throw pillows
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Plants
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Pots
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Hangers
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Candles
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Lamps
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Books & Reference Materials
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Printed books
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E-books
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Magazine subscriptions
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Newspaper subscriptions
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Audio books
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Gifts (Up to $25 per recipient per year.)
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Gifts to customers
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Business associates
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Employees
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Insurance
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General liability coverage
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Disability plans
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Theft insurance
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Loss-of-income
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Retirement Plan