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Perfectly Profitable Stylist Podcast
Financial prowess is a basic skill needed to run a beauty business, but most beauty pros are navigating blindly. Running a successful beauty business requires a lot of moving pieces. Putting off the numbers can be easy when you have clients to serve, product to order, and social media posts to create. Understanding your beauty business numbers isn't a nice luxury. It's critical to growing your business and being able to pay yourself consistently. The Perfectly Profitable Stylist Podcast is for the beauty business owner ready to take control of their business and learn the financial side of business they didn't teach you in beauty school. Join host, Michelle Cook, a former beauty school grad turned licensed CPA who is ready to take you from beauty professional to beauty mogul with a profitable, scalable business.
Perfectly Profitable Stylist Podcast
#04 When Should My Beauty Business Be An S-Corp?
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Michelle Cook, CPA
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Season 1
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Episode 4
First comes love, then comes marriage, then comes being-taxed-less-because-you're-super-smart-and-elected-to-be-taxed-as-an-S-Corp-instead-of-that-old-fogey-sole-prop-thingy-your-crusty-uncle-used-to-do.
In this episode we dive into:
- How much it costs to own an S-Corp
- When you should make an S-Corp Election
- Why you must pay yourself as a W-2 Employee
For more tips to help your beauty business thrive financially, follow us @smallbusinesscpa. This is where we share daily tips on how to run a successful beauty business.