Wednesday, December 28, 2011

Hair-Stylist Tax Deductions

When examining hair stylist tax deductions, you can deduct business expenses that are “both ordinary and necessary” in the words of the IRS. Expenses are ordinary if they’re standard for a professional stylist. They’re necessary if they help you in business, even if you could manage without them. If you’re an employee, you can deduct only expenses your employer doesn’t reimburse. To claim employee expenses, you take an itemized Schedule A deduction. READ MORE