01/07/2025
💎🔥Tax tip Tuesday from us at Resilience Smart Tax Solutions🔥💎
7 tax tips 🔥specifically for lash technicians:
1. Deduct Lash Supplies and Tools
All the materials you use to provide services, such as lash extensions, glue, tweezers, scissors, and applicators, are tax-deductible. Even smaller items like tapes and brushes count as business expenses, so keep receipts for all your purchases.
2. Claim Rent or Booth Fees
If you rent a booth or space in a salon, these rental fees are fully deductible. Additionally, if you run your lash business from a dedicated home workspace, you may qualify for the home office deduction, which allows you to write off a portion of your home expenses.
3. Write Off Marketing and Branding Costs
Whether you’re investing in social media ads, designing a website, creating business cards, or paying for photography of your work, these marketing and branding expenses are deductible. Document all costs related to promoting your lash business.
4. Deduct Continuing Education and Certification Fees
Lash technicians often take courses to learn new techniques or maintain certifications. The cost of these courses, along with associated travel, lodging, and supplies, is deductible as a professional development expense.
5. Track Travel and Mileage
If you travel to clients, attend lash conferences, or run errands like picking up supplies, you can deduct mileage or actual car expenses. Keep a detailed log of your business-related travel to maximize this deduction. Apps like MileIQ can help simplify the process.
6. Deduct Professional Insurance and Licenses
If you pay for liability insurance or need a professional license to operate, these costs are fully deductible as business expenses. Be sure to keep documentation of your payments and renewals to claim this deduction.
7. Claim Business-Related Utilities and Phone Expenses
If you use your phone or internet for scheduling clients, marketing, or running your business, you can deduct a portion of these costs. If you rent a space, utility expenses like electricity, water, and heating used for your lash studio are also deductible. Keep clear records of your business-related usage.
These tax tips can help lash technicians reduce their taxable income and keep more money in their pockets!
Your journey starts here with your New Trustworthy Tax Preparer⬇️⬇️⬇️
Rachida Maynard
Please click the link to complete this form.
