The Case of the Vanishing Hairspray: Why You Should Outsource Bookkeeping (and Save Your Salon)
By Sharon Moulder, Accounting Manager, Lightheart Sanders & Associates Imagine a world of bouncy curls, happy clients, and the sweet scent of success. Now, picture that same world turning upside down, drowning in receipts and financial woes. This, my friends, is the fictional story of Sarah, a talented hairstylist who dreamt of a thriving salon…
Read ArticleMid-Year Financial Check-Up: Course Correction or Steady As She Goes?
Captain Amelia stands at the helm of her trusty ship, the “Seaworthy,” braving the vast ocean. Back in January, she meticulously charted a course, stocked the hold with provisions, and set sail towards a lucrative new trade route. Now, with the summer sun high in the sky, she realizes they’ve reached the halfway point of…
Read ArticleBooth Renters vs. Employees: Tax Implications in the Salon Industry
Navigating the tax landscape is crucial for salon professionals, whether you’re a booth renter or an employee. Understanding the distinctions in tax responsibilities between these two roles can help you manage your finances more effectively and avoid potential pitfalls. Here’s a breakdown of the key differences in tax implications for booth renters and salon employees….
Read ArticleWhy Year-Round Tax Planning Matters
Tax planning is often viewed as a year-end activity, with businesses and individuals alike scrambling to optimize their finances in the final months of the year. However, effective tax planning shouldn’t be confined to the last quarter. Proactive, year-round tax strategies can provide significant benefits, from maximizing deductions to ensuring compliance and avoiding last-minute stress….
Read Article