Accounting and taxes for self-employed estheticians, nail techs, lash techs, and more.
Taxes and accounting can be stressful
Especially if you are in your first year of business. If this part of your business freaks you out, call a professional!
Self-employed estheticians, nail techs, and lash techs can do their own accounting and taxes.
If you are a DIYer or need to save money and have the time available to do a little digging, and learn something new, then keep reading.
Accounting and taxes for self-employed estheticians can be pretty easy once you have everything prepared.
This web page is intended solely for information purposes, and no individual or another third party may rely upon it as tax or legal advice or use it for any other purpose. The content does not provide tax advice to any taxpayer and does not take into account any specific taxpayer’s facts and circumstances. Readers are encouraged to consult with professional advisors for advice concerning specific matters before deciding or taking a position on any tax return.
Accounting and Tax Programs
Cost- 9.95 + month ( depending on the plan)( Discount)
I’ve recently been introduced to FreshBooks and am in love with it. It’s easy, inexpensive and completely online! (They even have a free trial for you to play around with.)
FreshBooks self-employed accounting software makes working for yourself painless by making your accounting a breeze. Spend less time on accounting, and you’ll have more time to follow your passion.
Cost: Free +
Waveapps is a free cloud-based software. I used it for several years when I first started my business, but as my business grew, so did my needs, and I eventually switched.
It’s free! (unless you buy some of the add-ons) They have a lot of tutorials on how to use it, and it is fairly easy once you catch on.
Cost – $20.00/month (Discount)
If you need a little more direction or maybe some phone support, another inexpensive option is Quickbooks. Quickbooks is popular among all types and sizes of businesses because it is easy to use and inexpensive. They also offer a lot of support in the form of webinars, tutorials, and chat boxes. This is a great starting point for newbies.
They have a fantastic Self-Employed option, which is super inexpensive. QuickBooks Self-Employed connects to your bank so you can easily categorize income and expenses, capture and match receipts, send invoices, and automatically track mileage so you will be ready come tax time.
You can also have the ability to connect the apps you know and love with QuickBooks Online to keep your business running smoothly.
They also have a no-obligation Free Trial, so you can try it out before you invest your money!
Cost: $44.99+ (Discount)
Pay only when you file
Once you have your year of paperwork, Get your Turbo tax ready. Click on the link below to find the best program for you. TurboTax is also known to me as “Income tax for dummies.” It just walks you through the whole process by asking you questions.
When you are home-based or self-employed, you can fill out one return for your business and personal income tax. So, have all your personal information such as medical receipts, job t4 slips, or anything else you would provide for your income tax return.
Books worth reading:
J.K. Lasser’s Small Business Taxes 2023: Your Complete Guide to a Better Bottom Line -This is easy to understand and no-nonsense book. A great investment if you do your taxes.
Accounting QuickStart Guide-Learn how to control your cash flow, audit-proof your business, and increase your profits. Accounting QuickStart Guide will teach you the key insights to boost your bottom line in an easy-to-read, informative format.
Blog posts worth reading:
Cutting costs for home-based salons and spas
How to boost holiday sales in your salon or spa
FreshBooks Blog: This Tax Season Find Your Strength in Number with FreshBooks
FreshBooks vs. QuickBooks Page