Tax Write-offs for Independent Stylists.

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.

 

  • Booth Rent

 

  • Utilities (If not included in your lease)

 

  • Towel/Cape/Gown Purchases/Service Fee

 

  • Equipment Purchases/Rental Fees

 

  • Laundry Services/Supplies 

    • Detergent

    • Dryer sheets

    • Bleach

    • Laundry basket

 

  • Back-bar Supplies/Fees 

    • Shampoo

    • Conditioner

    • Treatments

    • Styling products

 

  • Chemical Supplies/Fees 

    • Color

    • Developer

    • Perm kits

 

  • New Supplies

    • Perm rods

    • Brushes

    • Tint bowls/brushes

    • Foils

    • Clips

    • Bobby pins

    • Wax supplies

    • Wax Supplies

    • Facial Supplies

    • Pedicure/Manicure Supplies


 

  • New Tools 

    • Shears

    • Hot tools

    • Razors

    • Hand dryers

 

  • Cleaning Supplies 

    • Barbicide

    • Paper towels

    • Towels/wash clothes

    • Alcohol

    • Surface cleaners

 

  • Retail Purchases For Sale (Only if sold to clients, inventory counts as an asset.)

 

  • Shear Sharpening

 

  • Credit Card Fees 

    • Annual fees 

    • Late payment fees

    • Interest

    • Processing Fees

 

  • Bank Fees 

    • Monthly service fees

    • ATM fees

    • Overdraft fees

    • Deposit fees

    • Wire transfer fees

 

  • Contract Labor

 

  • Paid Advertising 

    • Facebook ads

    • Instagram ads

    • Radio ads

    • Newspaper ads

    • Billboards

 

  • Printed Publications 

    • Flyers

    • Menus

    • Business cards

 

  • Promotional Items 

    • Key chains

    • T-shirts

    • Pens

 

  • Office Supplies

    • Notebooks

    • Post-its

    • Pens

 

  • Phone (Only 50% if also used for personal.)

 

  • Mileage or Fuel (From salon to supplies store, classes or on-site services, business meetings with partners, employees, suppliers, vendors, and consultants, etc.)

 

  • Continuing Education

 

  • Licensing Fees

 

  • Permits 

    • Resale permits

    • Permits required by government agencies

 

  • Business Professional Fees 

    • Accountant

    • Lawyer

    • Website designer

 

  • Subscriptions & Dues 

    • Membership fees

    • Music

    • Amazon Prime

    • Sam’s Club

    • Costco

 

  • Website 

    • Domain names

    • Hosting

    • Subscription website services (Wix, Squarespace)

    •  Themes

    • Plugins

    • Stock photos

 

  • 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.)

 

  • Decor 

    • Curtains

    • Rugs

    • Throw pillows

    • Plants

    • Pots

    • Hangers

    • Candles

    • Lamps

 

  • Books & Reference Materials 

    • Printed books

    • E-books

    • Magazine subscriptions

    • Newspaper subscriptions

    • Audio books

 

  • Gifts (Up to $25 per recipient per year.)

    • Gifts to customers

    • Business associates

    • Employees 

  • Insurance 

    • General liability coverage

    • Disability plans

    • Theft insurance

    • Loss-of-income

 

  • Retirement Plan