Hair stylists often work as independent contractors rather than “W2 Employees”, and need help identifying all the hair stylist tax deductions available to them. Are hair stylist tax deductions different from any other small business tax deductions? In a sense, they are unique: each business is different, and the types of items that are available as hair stylist tax deductions are different from other self-employment tax deductions.
Tax Help for Hair Stylists: The Guide to Hair Stylist Tax Deductions
Tax Help for Hair Stylists is our worksheet that helps identify hair stylist tax deductions. Combined with our extensive 2012 Individual Tax Organizer it can help identify all the hair stylist tax deductions you deserve! Get both absolutely free for immediate download!
Why Tax Help for Hair Stylists is Needed
Hair stylist tax deductions are not readily known to many tax professionals. Some tax preparers are part time, tax-season only employees who simply don’t understand the needs of the independent small business person. Most of the returns they see are for regular wage earners who have to qualify for deductions by having at least 2% of their adjusted gross income in itemized deductions.
But a self-employed person doesn’t need to itemize to take advantage of deductions. Hair stylist tax deductions can include not only their chair rental, but also admission to hair shows and seminars, the cost of appointment cards, magazines, etc. bought for their customers, and even business use of their car. And, their cell phone charges.
Our hair stylist tax deduction worksheet has 36 real-life examples of deductible business expenses. A hair stylist looking at our Tax Help for Hair Stylists worksheet will think of other expenses they incur that might be deductible. Write them down to ask your tax professional, or give us a call and we can tell you if your expense is deductible. The basic rule is that the deduction must be “ordinary and usual” expenses incurred in your business.
How to Get Tax Help for Hair Stylists
We allow direct downloads of both the hair stylist tax deduction guide, Tax Help for Hair Stylists and the 2012 Individual Tax Organizer. You can use these planners for any tax service — but we hope you’ll choose us! Use the buttons below to download these directly to your computer.
New customers enjoy a $25 discount from our already low fees. We also offer 50% off your last year’s tax preparation fee from any of the national chains (HR Block, Jackson Hewitt or Liberty Tax Service). Just provide last year’s return and we’ll give you the best discount we can.
New customers save $25 on tax preparation fees!
Call Frank Today!
Call or text Frank at (805) 415-2397 for immediate service!
The IRS has released some tips for those wanting to file their taxes for free. The program is intended to assist those earning $57,000 a year or less, but low cost options remain for those earning more.
Visit IRS.GOV for Free Tax Return Filing
The IRS recommends you start by visiting the Free File section of the IRS website. The IRS has partnered with 15 private software vendors to provide the free tax return filing service, but many of those same vendors will tack on a charge if you don’t access it through the IRS (sneaky, huh?) Some of the software choices limit your gross income to far less than the IRS stated $57,000 maximum, but if you review the entire list, you can find quite a few that allow free use of their software up to $57,000.
Is Free Tax Return Filing for You?
For some people, filling out the tax forms is interesting, if not enjoyable, and the “online interview” can aid in understanding our complex income tax laws. And for those people, free tax return filing is a wonderful resource. Other people would rather have their teeth pulled out than try to do it themselves.
Will You Miss Important Deductions?
Some people miss deductions because the on-line interview format doesn’t really probe to find all the deductions they deserve. Having a person who knows the tax law interview you is a much better way of finding out your true tax situation. Every few years, a news report surfaces like this one on YouTube that shows a wide variation between DIY software and professional tax preparation.
In this case, the DIY software led the consumer to a $229 refund. But both professional tax preparation firms had the consumer’s refund at more than $1,400. Even with their $400 fees for the tax preparation (more than I usually charge!), the consumer had a net refund $800 higher than using the DIY software.
Free Tax Return Filing – Or Not!
It is your choice, of course. If you need help deciding if the IRS free tax return filing is for you, you can drop us an email and we’ll be happy to give our opinion. We also provide low cost options for families in temporary financial distress, active military and new entrepreneurs. Through our secure email and file portal, we can assist taxpayers throughout the nation.
Professional, fast and easy tax return preparation
Acumen Tax Service strives to provide its customers with professional, fast and easy tax preparation. Frank Hagan, CRTP, is a professional tax preparer licensed by the state of California’s CTEC board (a requirement for all tax pros in California). In addition, Frank is a member of the National Association of Tax Professionals, a nation-wide professional organization dedicated to maintaining ethical and professional standards among tax preparers. Acumen subscribes to several tax professional only newsletters and subscription services for research of the latest breaking tax news.
Mortgage insurance premiums are traditionally found on the Form 1098. The deduction for the premiums was set to expire at the end of 2011. However, the deduction was extended through 2013 in the tax bill passed in January.
Don’t Miss the Mortgage Insurance Premium Deduction
The “box” on Form 1098 for the mortgage insurance premium is no longer there! Ask your mortgage company for the amount, or check your year end escrow statement for the amount of your mortgage insurance premium.
Update: The IRS issued instructions for lenders to use the blank box, “Box 4″, for the dollar amount of the PMI, but many were mailed before this could be accomplished. You can call your lender to see if they have the amount reported to the IRS after the form was mailed to you.
Remind Your Tax Pro
The fear in the tax community is that with the amount no longer on the Form 1098, many consumers doing their own taxes manually or with the aid of DIY software will miss this deduction. Even some tax professionals may miss the deduction if they are too busy, in “head’s down data entry mode” or are simply unaware that the mortgage insurance premium deduction was extended.
We’re on it!
As you can see, our membership in national professional organizations, subscriptions to numerous tax issue newsletters intended only for tax pros, and our daily email notices from the IRS helps keep us on top of all the recent tax changes. This year, especially, the tax situation is extremely fluid, and there are new notices daily.
Changes for the Earned Income Credit for this year include new documentation requirements. Learn what you need to bring to your tax appointment to avoid unnecessary delays!
The earned income credit is an important tax credit for lower income wage earners. This video just covers a few of the important changes to the earned income credit this year. Talk to your tax professional or ask us if you have any questions about the earned income credit.
Tax organizers save time and money by enabling your tax preparer to quickly see your information in a format optimized to save time – thereby saving you on preparation fees! Even if you are doing your own taxes, a free tax organizer will help make sure you don’t miss any deductions.
Our free tax organizer is one of the easiest to use and most complete organizers available. Beyond sections for your basic information, it has a 35 question checklist that quickly identifies possible tax deductions or forms that might be missing. It includes sections for all the various types of income that is taxed, such as interest, dividends, pensions and retirement funds, unreimbursed business expenses and “Schedule A” deduction worksheets, and even a special section for the self-employed with sole proprietorships. Provided in a handy fillable form PDF format, you can use it on your computer and save the data typed into it. Or, simply print it out and enter the information manually.
Our Free Tax Organizer is Absolutely Free
We have an extensive library of Tax Tips booklets, tax organizers and more in our Member’s Section. Membership is free, and allows you to access all the publications at once. But, we were so impressed with the 2012 Individual Tax Organizer that we didn’t want anyone to miss it.
We believe in giving back. Our Community Referral Program offers our generous $25 discount to all members of your apartment complex, assisted living facility, club or organization for their tax return preparation anddonates 10% of revenues to your favorite charity. Continue reading →
A tax organizer helps you organize our records so your tax professional can maximize your tax return. They come in a variety of formats, from our comprehensive 8 page organizer suitable for everyone in a convenient computer enabled “fill in the blanks” PDF format, to simple 2 page interview forms that are designed to start the conversation between us.
We have a variety of tax organizers, from the comprehensive one mentioned above to ones for special situations, such as our Tax Help for Hair Stylists and the Self Employed Tax Organizer. All of these are free for the asking.
Tax Tips Library
The entire library of tax organizers and special 2013 Tax Tips is extensive, and ready for download nearly immediately. These screen shots show the materials available. Click on the images for a full size version.
Tax Tips Library, Small Business Section
Farm and Rental Income and Special Situations
General Tax Topics
Access is Free, Easy, and (almost) Immediate
We offer these to anyone, but we do require registration. Our simple registration form requires only a “username” – anything you like – your first and last name, and your email address. A password will be mailed to you and you can immediately access the library.
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