1099 Tax Saving Tips

Tax Write-Offs Beauty & Barbering Professionals Should Consider

Nothing is More Beautiful than Getting the Most Money Back from Your Taxes

Taxes are complicated, and it can be confusing to understand what deductions you qualify for. There are many tax write offs for self employed professionals. Whether you work for a company or are a self-employed beautician, it is important to know exactly what you qualify for to insure you get the best tax return possible. It’s your money, so get every dollar back that you can. These independent contractor write-offs for 2020 will help you do that.

Tools & Supplies

The first and most obvious of your possible tax deductions includes tools, supplies and products. These include items like styling products, shampoo, conditioner, scissors, blow dryers, and other products that are consumable. Non-consumable items like mirrors, sinks, and styling chairs are also deductible if you had to pay for them.

Advertising Fees

If you are a self employed professional, you can write-off any advertising you paid for to promote yourself and your business. Items like business cards, flyers, postcards, signs, website design and operation, and advertising in newspapers, magazines, or television are all expenses you can claim.

Education & Training

Furthering your education in the beautician field and insurance are also tax deductible. Any classes or training, along with any books needed for this education are tax write-offs as long as they are related to your work field. The cost of renewing any state licensure is deductible, too. Personal insurance does not qualify, but any type of business insurance like hair stylist insurance does.

Travel & Entertainment

Travel expenses and work clothing are also tax deductible. Clothing specific to work like uniforms and tunics are tax deductions. These garments just can’t be anything worn outside of work. The daily commutes to and from work are not typically tax deductible miles, but if you have to drive for any other work related reasons, gas, mileage, repairs, and parking fees are all travel deductions you can claim. Food and entertainment connected to this work travel are additional deductions. Even tax preparation costs are deductible.

Services & Bill Payments

Similar to car repairs, repairs and maintenance of your tools are tax deductible. Cleaning supplies, bookkeeping services, ShearShare booking payments, travel and meal expenses, utilities, telephone and internet services that are used can all be claimed. Finally, your retirement plan, charitable donations, and rent, whether it’s a brick and mortar location, or space being used in your home, can be deducted.

This list of 1099 tax saving tips for self employed and business employees does not have every possible deduction. These are several write offs that are often skipped, even if you hire a company to do your taxes. Keep detailed records of all of these for the best tax return you can get.

Be sure to check out ShearShare, the #1 salon and barbershop booth rental app. You can find unused salon space for daily lease purposes.