Tax breaks for a self employed hair stylist?

REBBCADAVids
Posts: 197
Joined: Wed Sep 13, 2017 1:49 pm

Tax breaks for a self employed hair stylist?

Postby REBBCADAVids » Sat Jun 16, 2018 5:58 am

I am a self employed hair stylist. I rent a chair in a salon from someone, and keep all the profits from clients. I pay taxes and social security, etc. throughout the year.

I had my taxes done professionally this year and the Tax Acct told me that I should set myself up as seperate company and get a payroll service to pay me. He said I could save $3000 per year in taxes this way. It would cost me abt $900 to get him to set this all up.

What do you guys think? Does this sound like a good idea?


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