Shows
Cosmetology School Accounting - A Mini-Podcast SeriesShould You Own or Lease Your Cosmetology School BuildingEpisode Title: Should You Own or Lease Your Cosmetology School Building? 3 Must-Haves Before Buying
Episode Number: 8
Host: Desarie Anderson, CPA
Episode Overview
Owning the building for your cosmetology school can be a game-changing investment, but is it the right move for you? In this episode of The Cosmetology School Accounting Podcast, host Desarie Anderson walks you through the critical factors you need to consider before making this major financial decision. Whether you’re currently leasing and thinking about buying in the future or you’re ready to take the plunge now, this...2025-02-1711 minCosmetology School Accounting - A Mini-Podcast SeriesOptimizing Cash Flow For Cosmetology SchoolIntroduction:
Welcome and overview of today’s focus: optimizing cash flow management for cosmetology schools.
Explanation of why effective cash flow management is essential for maintaining operations and funding growth, particularly given cyclical tuition collections.
Segment 1: Understanding the Importance of Cash Flow Management
Definition of Cash Flow:
The movement of money in and out of your school, crucial for covering operational costs.
The Challenge for Cosmetology Schools:
Income often comes in large sums at the start of a term, followed by lean periods.
Fixed outflows like payroll, utilities, and maintenance continue regardless of revenue fluctuations.
Key Ta...2025-02-0314 min
Cosmetology School Accounting - A Mini-Podcast SeriesShould you wait to file your tax return until you receive your audit reportKey Topics Covered:
Why Audit Reports Are Critical
Ensuring financial responsibility and compliance
Maintaining accreditation status and Title IV eligibility
Filing Your Tax Return After the Audit
How audited financials improve accuracy
Benefits of avoiding amended returns
Consistent data for lenders, regulators, and stakeholders
Filing an Extension
How and when to file an IRS extension
Why you still need to pay estimated taxes on time
The advantage of aligning audited numbers with your tax return
DOE Deadlines for December 31 Year-End
Typical June 30 submission requirement for the audit report
Potential penalties...2025-01-2715 min
Cosmetology School Accounting - A Mini-Podcast SeriesMastering Tax Season for Cosmetology Schools: Tips, Pitfalls, and Pro StrategiesWhat You'll Learn in This Episode:
1. Why Tax Preparation Matters
The importance of accurate record-keeping for tuition, salaries, and federal funding.
How staying tax-ready ensures compliance with accreditation and audit requirements.
Viewing tax season as a financial health check for your business.
2. Key Considerations Before Filing
Organizing Financial Records: Tips for reviewing profit and loss statements and avoiding commingling personal and business expenses.
Identifying Eligible Deductions: Common deductions like educational supplies, facility costs, and professional development expenses.
Payroll and Contractor Payments: Ensuring compliance with issuing W2s and 1099-NECs.
Depreciation and Assets: Handling fixed...2025-01-2019 minCosmetology School Accounting - A Mini-Podcast Series"Mastering Budgeting for Cosmetology Schools: A Step-by-Step Guide to Financial Success"Episode Title: Budgeting Basics for Cosmetology Schools
Episode Highlights:
Why Budgeting Matters
Discover how a strong budget serves as a financial roadmap for your school’s success.
Understand the risks of not having a clear budget in place.
Step 1: Understand Your Income Sources
Learn to track income streams like tuition, retail sales, and clinic revenue.
Tips for projecting income conservatively and planning for seasonal fluctuations.
Step 2: Categorize Expenses
Differentiate between fixed and variable costs to prioritize your spending.
Pro tip: Build an emergency fund to cover unexpected expenses.
Step 3: St...2025-01-1316 min
Cosmetology School Accounting - A Mini-Podcast Series5 Actionable Strategies to Transform Your Cosmetology School in the New Year: Finance, Curriculum, Accreditation & MoreOverview
In this episode of the Cosmetology School Accounting Podcast, host Desarie Anderson dives into strategies that will help your cosmetology school shine in a competitive market. Learn why hosting local events and collaborating with high schools can significantly boost your school’s reputation. Discover how to streamline financial processes and maintain compliance to ensure your institution runs smoothly and effectively.
Key Topics Covered
Local Events & Community Engagement
Student Showcases: Host open houses and events that highlight student creativity and skill.
Joint Ventures: Partner with local salons, beauty supply stores, or makeup br...2025-01-0222 min
Cosmetology School Accounting - A Mini-Podcast SeriesEverything Cosmetology Schools Need To Know About 1099'sIn This Episode, You’ll Learn:
What is a 1099?
- Explore the purpose of the 1099 form and why it’s essential for non-employee compensation.
- Learn how the 1099-NEC (Non-Employee Compensation) replaced the older 1099-MISC for services.
Who Gets a 1099?
- Discover which independent contractors and unincorporated vendors qualify.
- Understand exceptions for corporations, law firms, and rental payments.
When to Provide a 1099
- Get clarity on the January 31st deadline for sending 1099s to vendors and filing with the IRS.
- Learn the importance of collecting W-9...2024-12-2124 minCosmetology School Accounting - A Mini-Podcast SeriesIntroduction To Cosmetology School AccountingHost: Desarie Anderson, CPA
Episode Description: In this inaugural episode of "Cosmetology School Accounting," host Desarie Anderson introduces herself and outlines the podcast's mission to provide concise, actionable financial advice tailored for cosmetology school owners. Drawing from her extensive experience as a salon owner and Certified Public Accountant, Desarie aims to demystify financial concepts, empowering beauty education professionals to achieve financial clarity and success.
Key Topics Covered:
Host Introduction: Desarie shares her journey from salon ownership to becoming a CPA, highlighting her dedication to assisting beauty industry professionals with financial management.
...2024-12-0206 min
The Cannabis Tax Resolution MinicastHow Long Must You Worry About Not Filing a Tax Return?Today's topic is titled "How Long Must You Worry About Not Filing a Tax Return?"
By law, all individuals who fit the requirements are required to file a federal and state income tax return, with the exception of those states that do not impose an income tax on their residents like Florida, Texas, Washington State, and six other states. The only individuals not required to file a return are those that don't meet the income requirements. Businesses such as corporations, multi-member LLC, and partnerships, on the other hand, are required to file a return every year even if they made...2021-07-0511 min
The Cannabis Tax Resolution MinicastHow Long Do I Have To Worry About An IRS Audit?Today's topic is titled “ How Long Do I Have To Worry About An IRS Audit?” If you are in the cannabis space, you are or should be fully aware that the IRS is making a concerted effort to audit cannabis businesses. Although cannabis sales are still illegal on the federal level, that isn’t stopping the IRS from auditing your business. If your business is set up as a pass-through entity, you can rest assured that they will pull your personal tax return into the audit. Pass-through entities are partnerships, S-corps, and LLC’s.2021-06-2108 min
The Cannabis Tax Resolution MinicastWhat To Expect When The IRS is Auditing You or Your BusinessAs we all know, if your business is in the cannabis space, you are not allowed credits, exemptions, or regular deductions.
You are, however, allowed to reduce your gross income by Cost of Goods Sold. So during the audit of a cannabis business, the auditor will check to make sure that you didn’t violate 280E by deducting ordinary and necessary expenses, and they will comb through your cost of goods sold transactions to make sure that you didn’t hide any ordinary and necessary expenses inside of cost of goods sold.2021-06-2108 min
The Cannabis Tax Resolution MinicastCannabis Tax Resolution Minicast SeriesThe format of this minicast is going to be a 5 to 15-minute discussion on topics concerning IRS and state tax audits, resolving state and IRS tax debt, also we will be addressing unfiled tax returns and how to get back into tax filing compliance, and we will also cover IRS trust fund recovery issues, which has to do with payroll tax matters.2021-06-1401 min
The Cannabis Accounting PodcastEp. 61: 5 Things Every Cannabis Accountant Needs to Know to Stay on the Good Side of the IRS w/ Desarie AndersonFew things are more frustrating or stressful for a Cannabis accountant than the prospect of an IRS audit of their clients. Many Cannabis and CBD/hemp companies are being audited for their failure to remain compliant with 280E or because their accounting has not been properly completed in accordance with 471.
However, when you understand what the IRS is looking for and how to do accounting correctly for state and federal taxes, the burden of compliance seems less foreboding.
On this episode, Andrew Hunzicker, CPA is joined by Desarie Anderson...2021-03-0139 min
The Cannabis Tax Resolution MinicastFive Tips For Cannabis Business Tax Season SuccessOn today's show, I will give you five tips to ensure that your tax season goes off without a hitch. I know how stressful tax season can be for cannabis businesses, so it's always best to minimize your stress by being as prepared as possible.2021-02-0314 min
The Cannabis Tax Resolution MinicastIndependent Contractor Vs. Employee: What Happens If I Misclassify My Workers?On today’s show, I will be talking about Independent contractors vs. W2 employees in the cannabis industry. I’ll be discussing the importance of proper worker classification, what can happen if you fail to correctly classify your worker, how the IRS and state determine proper classification, and how most businesses usually get busted for incorrect worker classification.2021-01-1130 min
The Cannabis Tax Resolution MinicastUnderstanding 280e & 471 & The Concept of Apportioning Expenses To Non-Cannabis SalesOn today's show, I’m going to be talking about the albatross around the neck of the Cannabis industry also known as 280E. I’ll also be discussing the concept of apportioning certain 280E expenses to non-cannabis activities, as well as items that can be included in cost of goods sold based on the type of cannabis business you operate.2020-12-2727 min
The Cannabis Tax Resolution MinicastWhy Should Cannabis Companies File Form 8300?Hello everyone I'm your host, Desarie Anderson, and today we're going to be talking about form 8300 and how it intersects with the cannabis industry. We'll discuss what the form is, why cannabis operators need to use the form, and the important aspects of the form that cannabis companies need to know.2020-12-1040 min
Outgrowth: A Slice of Pro BeautyMoney Matters: Accountant Answers (Part 2)What triggers an audit by the IRS? What actions should you take if you've misclassified your staff as contractors or need to close your business? How can advance planning reduce your tax liability? Take control of your finances by learning how a certified public accountant can inform and guide you in the second of our 2-part episode with Desarie Anderson, CPA, EA.Resources:Desarie Anderson's website: https://accountants4hairstylists.com/Desarie's membership program: https://financesforsalonprofessionals.com/A Slice of Pro Beauty - Two-day virtual event for beauty pros-----------2020-09-2836 minOutgrowth: A Slice of Pro BeautyMoney Matters: Accountant Answers (Part 1)Did you know that every decision you make in your business has tax consequences? What’s the difference between a hustle and a legitimate business? How do you track your cash flow? Take control of your finances by learning how a certified public accountant can inform and guide you in the first of our 2-part episode with Desarie Anderson, CPA, EA.Resources:Desarie Anderson's website: https://accountants4hairstylists.com/A Slice of Pro Beauty - Two-day virtual event for beauty pros-----------Please subscribe, rate, and review Outgrowth on yo...2020-09-2140 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsFinances For Salon ProfessionalsJoin The Club: https://financesforsalonprofessionals.com/
Hi everyone. I am really excited to announce that my membership site for independent contractors and salon owners is finally launching in two days.
I’ve been working on the site for the past six months. As I was building the site, I was trying to add to the membership program the types of services that I thought would be most beneficial to the members.
The services that I eventually settled on were those that my current clients and other beauty industry professionals seem to struggle with th...2020-09-0719 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsCash Flow Management For The Independent StylistClick The Link To View The Video https://youtu.be/Fnx5ye5cS4U
Join My Wait List https://accountants4hairstylists.com/something-new-is-coming-soon
Hello again and welcome to part three of Business financial literacy for the independent stylists.
In Part one I discussed the importance of picking a legal business structure for your business, in part two, I discussed why it's important for an independent stylist to set up an accounting system. In part three, I discuss cash flow management for the independent stylist.
CASH is the lifeblood of every business. Wit...2020-07-3019 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsWhy Independent Stylists Need To Set Up A Bookkeeping or Accounting SystemClick Here To Join My Wait List
Hello again and welcome to part two of Business financial literacy for the independent stylists.
In Part one I discussed the importance of picking a legal business structure for your business, which included the different options available to independent stylists and the importance of understanding the structure you choose.
Today I’ll be talking about setting up an accounting system for your business and why it’s important
When I speak to some of my independent clients about the need for them to set up a...2020-06-1618 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsEpisode 1 of 6- Picking The Right Legal Structure For The Independent StylistHello everyone and welcome to my six-part series all about business financial literacy for the independent stylists
Although it’s important for all business owners to be financially literate, for this series, I’ve decided to focus on the independent stylist because I want to emphasize the importance of operating your business as a legitimate business regardless of your size.
Whether you are as large as coca-cola or Nike or whether you are a one-man shop, in order to successfully sustain your business, you must do the same things that the larger businesses do to succ...2020-06-0714 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsWhat's The Difference Between An Independent Contractor, A Booth Renter, & An Independent Stylists?Over the last few months, several independent stylists and salon owners have asked me what the difference is between an independent stylist, a booth renter, and an independent contractor. I explain the differences in this mini cast!
Click the link below to join my the wait-list
https://accountants4hairstylists.com/something-new-is-coming-soon2020-06-0306 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsPPP Loan Forgiveness For Salon Owners & Independent StylistsNow that businesses are starting to receive their PPP loans, it's time to understand what is required in order for your loan to be forgiven. You want to try to avoid any unwelcome surprises when you apply for loan forgiveness.2020-05-1420 minPROFIT AND BEAUTY: A Show For Salon ProfessionalsHow COVID19 Exposed The Importance of Choosing And Understanding Your Business Legal StructureCOVID19 has brought to the fore-front the theme of the podcast that I have been hosting for years, and that is the importance of treating your business “like a business” and not like a hobby, regardless of whether you are a full-service salon or a booth renter behind the chair. I’ve always said, If the government treats you like a business, you are a business, and therefore, you should treat yourself like a business.
One of the most important decisions you make when starting your business is the legal structure you choose. When I say...2020-05-0304 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsThe Latest PPP Loan Update For Booth Renters, Salon Owners Without Employees & Independent ContractorsOn Tuesday, April 14, the Small Business Administration (SBA) issued several important clarifications to its rules regarding the Paycheck Protection Program (PPP) in respect to the following:
Calculation of maximum loan amount for self-employed individualsUse of PPP loan proceeds by self-employed individuals.Documentation for loan forgiveness by self-employed individuals.
Website: https://accountants4hairstylists.com/
Instagram: @desarieanderson
Facebook: https://www.facebook.com/profitandbeauty/2020-04-2025 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsHow Do I Record Losses For Booth Rent Due To The Closure From COVID19?I've been receiving several questions from salon owners asking how they can go about writing off the rent they are not receiving from their booth renters due to COVID19.
Rather than answer each person individually, I decided to record a short video explaining how it works.
SHOW MORE2020-04-1103 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsThe COVID19 CARES Act & How it Affects Beauty Industry ProfessionalsWhat is the CARES (Coronavirus Aid Relief and Economic Security) Act? The CARES Act is the largest economic stimulus package in the history of the United States. It includes approximately two trillion dollars to help people and businesses impacted by COVID-19. Many beauty professionals are asking “What does this mean for me?”
How does the CARES Act impact the beauty industry? The act includes several provisions that impact citizens of the united states, businesses, and business owners including beauty industry professionals.
Beauty industry professionals consist of salon owners, booth renters, commission stylists (W2 employees), and indepen...2020-04-0646 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsMy 2 Cents On How To Increase Your Salons ProfitsAs a former hairstylist and salon owner, I had to think of creative ways to increase my bottom line.
Now, as a consultant to hair professionals, I sometimes have to suggest different ideas on how to increase sales so they can become more profitable.
In this podcast, I talk about how I used retail to increase my salon profits.
2020-02-0910 min
PROFIT AND BEAUTY: A Show For Salon Professionals1099 Clarification With Desarie AndersonWith all the misconceptions out there regarding 1099 it is time to set the record straight.
This podcast was derived from a Facebook live I did in The Sovereign Stylist FB group.
I answered questions that beauty industry professionals had regarding receiving and giving 1099's to a business.
Enjoy!
Here’s the link to The Sovereign Stylist Facebook Group:
https://www.facebook.com/groups/booth...
Here is the link to my website
https://accountants4hairstylists.com/
2020-02-0247 min
PROFIT AND BEAUTY: A Show For Salon Professionals2020 Important Tax Due DatesThis weeks podcast talks about some of the important 2020 tax due dates.
Feel free to reach out to me via email if you have any basic questions.
desarie@andersonaccounting3.com
https://accountants4hairstylists.com/
2020-01-3008 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsQuickBooks Online Accounting Software Options for Beauty ProfessionalsQuickBooks Online Accounting Software For Beauty Professionals
This Podcast is based on a YouTube video I created where I spoke about the general options beauty industry professionals have when picking QuickBooks online for their bookkeeping needs.
The information provided in the video is general enough to help get you started with your decision making.
Click this link to purchase any version of QuickBooks Online and QuickBooks Self-employed for 50% of for 6 months. https://quickbooks.grsm.io/DesarieAnderson
Here is the link to my website if you would like to see the types of...2019-11-2424 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsHow To Calculate Your Quarterly Estimated Tax Payments On Your OwnThis live webinar discussed how to calculate your own quarterly estimated tax payments. Estimated taxes are due each quarter and all self-employed individuals are required to make quarterly payments unless you fall outside of the requirement.
I discussed who is required to make quarterly payments and those that are not required to make payments
Click the link to access the spreadsheet I created that you can use to calculate your estimated taxes while at the same time recording your income and expenses.
CLICK HERE TO ACCESS CLASS AND SPREADSHEET2019-04-2148 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsLast Minute Tax Deduction Check List For Hair Stylists & Salon OwnersToday's podcast was a live recording. Tax day is here and I'm not ready to file my taxes nor do I know how much money to send the IRS with my extension. Let's talk about it. AND Last-Minute Tax Deduction Check List For Hair Stylists & Salon Owners2019-04-1530 min
PROFIT AND BEAUTY: A Show For Salon Professionals3 Painful IRS Penalties & How To Avoid ThemToday I’ll be taking about three painful IRS penalties and how to avoid them. They are:
a. The underpayment penalty
b. The failure to pay penalties
c. The failure to file penalty
If you are interested in attending my webinar on Monday, April 8th click the link to register. How To Calculate Your Quarterly Estimated Taxes On Your Own.2019-03-3115 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsWhat Business Owners Need To Know About Self-Employment TaxHow is self-employment tax calculated? - Most W2 employees don’t realize that their employer matches the 7.65% withheld from their paychecks. As I mentioned earlier, we are all required to pay 15.3% of our gross income into Medicare and social security. W2 employees only pay half of the 15.3% while their employer pays the other half, for a grand total of 15.3%. For those of us that are self-employed, we do not have an employer to pay half of our Medicare and social security payments, therefore, we are required to pay the entire 15.3% ourselves. Find out how self-employment tax is calculated and ev...2019-03-1818 min
PROFIT AND BEAUTY: A Show For Salon Professionals4 Common Questions I Get Asked At Tax TimeHere are 4 common questions I get asked at tax time:
I am a business owner, how should I pay myself?
As a business owner, do I need to file both a business and a personal tax return?
I purchase products and supplies from vendors; do I need to provide them with a 1099 at the end of the year? Who else should I be giving a 1099 to at year end?
What if I am not able to get all of my documents together before April 15th, can I file an extension and...2019-01-2223 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsDo-it-yourself Bookkeeping Package Giveaway Contest For Booth Renters, & Salon Suite Owners ONLY!!In this contest, I will be giving away my Do-it-Yourself bookkeeping package. I will set up your entire bookkeeping system using QuickBooks Self-employed.
Once your system is set up, I will provide you with a two-day training to show you how to use QuickBooks Self-employed to do your own bookkeeping.
Three months after your training, I will do a free check-in. During the check in, I will perform a deep dive into your books to make sure you are on the right track and that all your transactions have been properly recorded. I will also...2019-01-1309 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsJoin The Conversation With My guest Sileta Hodge: "Get Over Him in An Hour"Profit and Beauty Podcast usually discusses business matters concerning the beauty industry.
But for our last show of the year, we are taking a left turn and discussing a topic that has absolutely nothing to do with business.
Join me and my guest Sileta Hodge as we discuss her brand new book entitled, "Get Over Him In An Hour." The book was inspired by a personal relationship she experienced in her past life.
Get Over Him in An Hour is the therapy every woman needs to jump-start their healing process. Each chapter speaks to a woma...2018-12-1742 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsBusiness Financial Literacy & What You Need To Know To Maintain a Profitable BusinessWHAT IS BUSINESS FINANCIAL LITERACY
Every business decision you make in and for your business has a financial consequence.
On this podcast, I will cover the Six Components of Business Financial Literacy.
Please keep in mind that there is no science to these six components. I personally came up with all six based on my experience working with independent contractors, sole proprietors, and micro business owners. These are the areas they seem to struggle with the most.
Picking the right business structure and why it’s important
Setting up an accounting system tha...2018-12-0247 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsThe Difference Between A Sole Proprietorship And An LLCWhat is the difference between a sole proprietorship and an LLC? I answer that question on this weeks episode. There are several similarities between the two as well as a few major differences.2018-11-0419 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsWhat You Need To Know If You Want To Start And Own a Hair Product LineIf you have ever wondered what you need to do or what you need to know in order to start your own hair product or cosmetic line, you should definitely listen to this week's episode where I speak with Margaret Haven of Haven Research Center. We discuss everything from how to get started, product ingredients, and the importance of packaging and marketing your product. It’s a long discussion, but there are so many important and informative nuggets you will learn.2018-10-231h 01
PROFIT AND BEAUTY: A Show For Salon ProfessionalsHow California's New Law Will Affect Booth Rental Salons & Host SalonsOn today’s show, I am going to discuss the new law that was handed down by the California supreme court which threatens to abolish the booth rental model and how the law may also affect salons that host traveling stylists.
I think it’s important that salon owners in every state pay close attention to how this law evolves over time because if whatever the state of California is trying to achieve becomes successful according to their measurements, whatever those measurements are, other states will eventually attempt to adopt the same law.
The new law...2018-10-0824 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsThree Reason Beauty Professionals Do Not Charge Their Worth And How To Over Come The BarrierOn today's show, I will be discussing three reasons beauty industry professionals don't "charge their worth" and how to overcome this barrier. The three reasons I will be focusing on are:
Lack of confidence
Making assumptions about peoples financial situation
Trying to keep up with what everyone else is charging
2018-09-1725 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsHow To Plan Start And Grow Your Salon BusinessI will be discussing:
Legal business structures salons can choose from
Starting a salon from scratch vs buying an established salon
Raising Startup or operating capital for your salon
Different types of accounting systems for your business
And much much more....
Remember, this show is actually a recording of the webinar. I hope you enjoy it and don't forget to download my app Proft and Beauty from the Google or Apple store.2018-09-0354 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsUsing QuickBooks Online At Your Hair Salon To keep Track of Your Income and ExpensesOn today’s show, I am going share with you some of the questions that have been asked by salon owners and hair stylists on the QuickBooks pro advisor platform.
The reason I have decided to do a show like this is that I know that when someone asks a question, there are probably tons more people that have the exact same question. So today I am going answer 5 questions stylist and salon owners have asked regarding setting up and recording certain types of transactions in QuickBooks online.
Setting Up Booth Rental Income Accounts http://bi...2018-08-1919 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsThe Next Generation of Beauty & BarberingToday’s topic is definitely a reflection of today’s mobile and sharing economy. Gone are the days where we told that there is only one path to success.
With the creation of companies like Uber, Lyft, Airbnb, and several beauty business apps, beauty professionals now have options and can pick and choose how and when they want to work.
Even though I run an accounting practice, I still do hair at my leisure whenever I want by working with one of the beauty apps.
My guest today is Dr. Tye Caldwell.
Gu...2018-08-0944 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsFit Money: Steps to Get Your Financial Life in ShapeI speak with Julia Carlson about retirement planning, planning for financial freedom, and steps to take to get out of debt.
Today’s topic is one that I am very passionate about mainly because when I was a hairstylist, I worked with people who were 65, 70 years old that couldn’t retire because, in all the years of doing hair, they never planned for the future or for retirements.
Because this is such an important topic, I am going to be doing a three-part series on the subject of retirement and planning for your financial future.
2018-07-2834 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsHow Hair Salons and Hair Stylists Can Use Pinterest To Grow Their BusinessMy guest Joanne Kaminski talks about how hair salons and hair stylists can use Pinterest to build their business. She discusses the benefits of Pinterest, and why all hair stylists and hair salon owners should make it a point to have a presence on Pinterest. She also explains how hairstylists can use their work to inspire potential clients to book an appointment, or at the very least inquire about their services?2018-07-2046 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsTen Red Flags That Can Trigger An IRS Audit For A Hair Salon!Hi everyone and thanks again for joining me on today’s show. Today I am going to be talking about a topic that scares the bejesus out of most red-blooded Americans, and that’s getting audited by the IRS or the state for that matter. People don’t realize that the state can be even more brutal than the IRS sometimes.
Lately, I have noticed a recent uptick in the number of salons and hair stylists that are being audited by the IRS. Overall, it’s not surprising to me because the IRS has been known to audit ca...2018-07-0530 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsHow To Maintain a Thriving SalonHi everyone and welcome back to profit and beauty. I know when I start talking numbers and anything to do with business accounting or taxes you guys starting yawning and try to find any and all reasons to leave the room.
But it is so very important that you know and understand the numbers behind your business, otherwise, you are setting yourself up for failure or you will be stuck in a businesses that feels like a job, which means you maintain all the responsibilities of owning a business (paying rent, paying utilities, keeping your salon stocked...2018-06-2125 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsWho makes more Money Commission or Booth rental Stylists?On today’s show, I am going to answer a question I received from a hairstylist out of Atlanta Georgia. The question is related to the age-old question booth rent vs commission. Here is what she wants to know: I currently work as a booth renter, but I am thinking about going to work at a commission salon. My concern is that I don’t know if I feel comfortable giving up half of my money to the shop owner. I was wondering if it makes financial sense to make the move?
I will go over a side-by-side net...2018-06-1225 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsCommission vs Booth rental: The Tax & Profitability Component behind both modelsWhether your salon is structured as a booth rental salon or a commission salon, if run properly, you will make money with either structure. But don't let the IRS or their rules interfere with your financial goals.
Whenever I am consulting with a new client we always discuss the type of business structure they would like to implement. They always respond with "which is better commission or booth rent?" In my humble opinion, I don’t think one is better than the other, instead, one should choose a business model based on their overall goals and intended ou...2018-06-1225 min
PROFIT AND BEAUTY: A Show For Salon ProfessionalsWhat Legal Business Entity Should I Choose For My Hair Salon?On today's show, I am going to talk about two area that I receive a lot of questions about. What type of legal entity should I choose for my business and should I open up a separate bank account for my business
Let’s start with the first question regarding legal entities.
Let me first say that there is no right or wrong choice when it comes to picking a legal structure for your business. It all depends on your long and short-term goals, as well as how you want to run your business. It is ok...2018-06-1227 min
Guerrillapreneur: The Art of Waging Small Business PodcastEpisode 23 - Bonus Show - My Interview with Desarie Anderson on her show "Ask Desarie"Episode 23 is another BONUS SHOW! In this episode, I am interviewed by Desarie Anderson for her show "Ask Desarie" which airs every Thursday on WDJY 99.1 FM and www.wdjyfm.com between 5 &6pm. Desarie Anderson is a certified public accountant and the founder of Anderson Account, LLC. In the interview, Desarie and I discuss FREE software solutions that startups and small businesses can use to manage their administrative functions We cover packages that assist you with Sales, Marketing (including social media), and Finance (Accounting and Expense Management). You need to listen to this episode! Want a signed copy of my...2018-04-1856 minGuerrillapreneur: The Art of Waging Small Business PodcastEpisode 23 - Bonus Show - My Interview with Desarie Anderson on her show "Ask Desarie"Episode 23 is another BONUS SHOW! In this episode, I am interviewed by Desarie Anderson for her show "Ask Desarie" which airs every Thursday on WDJY 99.1 FM and www.wdjyfm.com between 5 &6pm. Desarie Anderson is a certified public accountant and the founder of Anderson Account, LLC. In the interview, Desarie and I discuss FREE software solutions that startups and small businesses can use to manage their administrative functions We cover packages that assist you with Sales, Marketing (including social media), and Finance (Accounting and Expense Management). You need to listen to this episode! Want a signed copy of my...2018-04-1856 min