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.

 

• Building Fees 

  • Rent 

  • Mortgage

 

• Utilities 

  • Electric

  • Water

  • Trash removal

 

• Towel/Cape/Gown Purchases/Service Fee

 

• Equipment Purchases/Rental Fees

 

• Laundry Services/Supplies 

  • Detergent

  • Dryer sheets

  • Bleach

 

• Backbar Supplies

  • Shampoo 

  • Conditioner 

  • Styling products

 

• Chemical Supplies 

  • Color 

  • Developer 

  • Perm kits 

 

• New Supplies

  • Perm rods 

  • Brushes 

  • Tint bowls/brushes

  • Foils

  • Bobby Pins

  • Clips

  • Wax Supplies

  • Facial Supplies

  • Pedicure/Manicure Supplies

 

• New Tools 

  • Shears 

  • Hot tools 

  • Razors

 

• Cleaning Supplies 

  • Barbicide 

  • Paper towels 

  • Towels 

  • Alcohol

  • Surface cleaner

 

• Retail Purchases For Sale (only if it is sold, not if it is still a part of your inventory- this is considered an asset.)

 

• Shear Sharpening

 

• Credit Card Fees 

  • Annual fees 

  • Late payment fees 

  • Interest

 

• Bank Fees 

  • Monthly service fees

  • ATM fees 

  • Overdraft fees 

  • Deposit fees 

  • Wire transfer fees

 

• Contract Labor 

  • Independent contractor

  • Janitorial services

 

• Paid Advertising

  • Facebook ads 

  • Instagram ads 

  • Radio ads

  • Print ads

 

• Printed Publications 

  • Flyers 

  • Menus 

  • Business cards

 

• Office Supplies 

  • Notebook 

  • Post-its

  • Pens 

  • Laptop

  • iPad

 

• Promotional Items 

  • Key chains 

  • T-shirts 

  • Pens

 

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

 

• 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 (For employees too)

 

• Licensing Fees

 

• Permits 

  • Resale permits 

  • Permits required by government agencies 

 

• Business Professional Fees 

  • Accountant

  • Lawyer

  • Website designer

• Subscriptions & Dues 

  • Magazines 

  • Membership fees

  • Music subscription

 

• 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.)

 

• Labor 

  • Employee payroll

 

• Decor

  • Curtains

  • Rugs 

  • Throw pillows 

  • Plants 

  • Pots

  • Hangers 

  • Candles 

  • Lamps

 

• Books & Reference Materials 

  • Printed books

  • E-books

  • Magazine subscriptions

  • Newspaper subscriptions

  • Audio books

 

• Event Costs  (100% deductible for public events and employee events)

  • Food, drinks, & catering fees 

  • Paper goods, flatware, linens, table and chair rentals

  • Entertainment, DJ

 

• New Furniture & Fixtures

  • Chairs (salon, dryer, shampoo, waiting-room) 

  • Fatigue mats

  • Tables

  • Stations

  • Hooded Dryer

  • Shampoo bowls

 

• Gifts (Up to $25 per recipient)

  • Gifts to customers 

  • Business associates

  • Employees

 

• Insurance 

  • General liability coverage

  • Property & building insurance

  • Disability plans

  • Theft insurance

  • Loss-of-income

 

• Retirement Plan

 

• Employee Costs

  • Wages

  • Retirement plan 

  • Uniforms

 

• Capital Expenses

  • Business start-up costs

  • Business assets

  • Improvements