Cosmetologists Business Tips

I recently had a conversation with a hair stylist about his tax and bookkeeping services. He admitted that he tends to just stick to the system he has in place because he is just too busy to go through the numbers. Sound familiar? Don’t we all find ourselves in this vicious rut, even as we grow our business or freelance services? The problem that he ran into is also very common to many business owners regardless of business type. He started to explain the new inventory that he has now has inventory which has added to the complexity. His clientele has also grown, his service offerings has evolved, and now new products are on the shelf. What an accomplishment!

From our brief talk he then realizes how much has changed since his humble beginnings and thus a need for a better accounting system. This was the first year he has his own products on the shelf and is now trying to make accommodations for properly reporting taxes.

I reminded him that growth and new inventory does not necessarily mean more taxes and that tax credits and savings are more commonly associated with growth than business owners tend to assume.

This is why it is important to have a quality bookkeeper and tax accountant be a part of your business. Whether you are a freelancer, a business owner, entrepreneur, or employee, things change, life changes, tax laws change. If you are lucky enough to grow into change, even better.

Support your growth by continuing to build a solid foundation and infrastructure for your growth. We want to help support your growth by offering the best in bookkeeping and tax services for you and your business.

At 7M, we dedicate considerable time to assist you the taxpayer take advantage of the least know tax saving tips. Call to discuss the changes we should plan your tax return around.