If you're a hair stylist with an assistant, you'll want to make sure you're classifying them correctly for whether they're an independent contractor or employee.
The IRS looks at three different things to determine whether someone is an employee or not:
Behavior control
Financial control
Relationship
Classifying your assistant correctly and keeps you out of trouble with the IRS and will help you record the business expense correctly for tax purposes.
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ABOUT ME (JENN)
Before starting my own business coaching and accounting firm I…
- Grew a struggling hair salon to a multi-6 figure business in 5 years
- Spoke to cosmetology students on the business side of the hair industry
- Worked as a tax analyst and specialist at HR Block Small Business Advisors
- Distributed hair products to hair salons and barbershops along the East Coast
- Created a product line and online hair product eCommerce store
- Imported hair products from the Dominican Republic
- Received my degree in Economics from the University of Maryland at College Park
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DISCLAIMER
This video is for informational purposes only and may not be accurate for your unique situation. Before applying anything stated in this video, please consult with your tax advisors. For unique tax situations, please consult with your tax advisor. Thanks for watching!
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