Master Your Beauty Biz Finances

$69.99 11 Sections 11 Lessons

Course Description

This class is designed for business professionals interested in mastering their business finances. The course will help you understand the things you need to do and know when you start a business or are currently in business but still need business financial help.  After watching each lesson, you will have a clearer understanding of your business finances and a clear plan to reach your goal(s).

Course Content

The different legal business structures & why the legal structure you pick for your business is very important

Have you ever wondered what type of business legal structure you should choose for your business? When you decide to start a business, one of the most important decisions you have to make is choosing a legal structure for your business. The type of legal structure you choose holds the key to how you will ultimately run your business according to government requirements.
The different Legal Business Structures & Why the legal structure you pick for your business is very important

Tax planning tips for beauty biz professionals

It's easier to build your finances and be able to afford what you want when you prioritize tax planning. Furthermore, by factoring in taxes when creating your financial plan, you can significantly increase the amount of money you'll have in retirement and the amount of money you'll have to reinvest in your business.
Tax planning tips for beauty biz professionals

Employee or independent contractor? Are you misclassifying your workers?

Are you a stylist who is being misclassified as an independent contractor? Are you a salon owner misclassifying your employees as independent contractors? Watch this lesson to determine if you are misclassifying your workers and why government agencies and some insurance companies frown on worker misclassification.
Employee or Independent Contractor? Are you misclassifying your workers?

How to calculate and pay your quarterly estimated taxes

In this lesson, you will learn who is and isn’t required to pay quarterly estimated taxes. Paying estimated taxes will ensure that you avoid penalties and interest for not making estimated payments. You will also get a better understanding and a better handle on your cash flow.
How to calculate and pay your quarterly estimated taxes

How to prepare for tax season

Death and taxes are the two events none of us can escape. Both are certain to happen. Nobody loves tax season or what comes with it, but you don't have to hate it. Investing a small amount of time and energy each month can make tax season painless. To preserve your sanity during tax season, watch this lesson to find out a few things you should do year-round with finances to simplify the tax filing process.
How to prepare for tax season

Managing your business finances using a simple spreadsheet

If you think you are not ready to invest in accounting software like QuickBooks, you can use a simple spreadsheet to track your income and expenses until you are ready to purchase software. This lesson is an instructional video demonstrating how to use a spreadsheet I created to help you track your income and expenses.
Managing your business finances using a simple spreadsheet

Who should receive and give a W9 and a 1099-NEC, and why?

Although it is required by law that ALL independent contractors and business owners who pay a business $600 or more should provide the business with a 1099-NEC (formally 1099-MISC before 2020), it is well known that most beauty industry professionals do not abide by this law. So before you claim that you've never heard of this requirement, therefore, it must not be true, let me say that not having heard of it doesn't mean it isn't a legal requirement; it is, and if the IRS ever catches up with you, you will be severely fined.
Who should receive and give a W9 and a 1099-NEC, and why?

Who is responsible for reporting tips?

This lesson explains how tips are handled and who is responsible for reporting tips to the IRS.
Who is responsible for reporting tips?

How to set track and achieve your business financial goals

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How to set track and achieve your business financial goals

11 Home office deductions for Beauty Industry Professionals

This lesson goes over the types of deductions beauty industry professionals can take on their tax returns as business owners.
11 Home office deductions for beauty industry professionals

Creating a personal and business financial safety net

It’s expected that we are likely to feel overwhelmed when dealing with financial matters. It’s even easier to get caught up in the endless cycle of paying bills. A good number of us are just trying to make ends meet, and therefore, it can be a little challenging trying to save for the future or saving for an emergency (think COVID19). The fact is that financial emergencies are sure to occur irrespective of how carefully we plan. That’s why it’s vital to develop a financial security net so you are well equipped for unforeseen events (think COVID19).
Creating a personal and business financial safety net