Being a hairdresser or barber demands a lot of time and energy. Between the long hours, liaising with clients and being on your feet all day, the last thing you want is to worry about your books. At Platinum Accounting & Taxation in Melton, we offer end-to-end accounting, taxation and bookkeeping services for hairdressers, barbers and stylists. Whether you’re a sole trader, a salon owner, or you run a home-based business, we can help you to:
- Minimise your tax
- Manage your cash flow
- Meet your compliance obligations
- Maximise your profit
- Grow your business
Avoid close shaves with the ATO
Hairdressers and barbers are part of the cash economy. Regardless of whether you’re a sole trader, a small salon or a home-based business, you likely accept cash payments from customers. While it’s perfectly legal to accept cash, it’s no secret that cash-based businesses often come under scrutiny from the ATO. Even a small reporting mistake can result in costly fees and penalties. Plus, dealing with the ATO can be time-consuming and stressful. You want to avoid that at all costs. That’s where cloud accounting comes in.
Cloud accounting allows you to access your business accounting software from a secure site on the internet. You can record transactions, issue receipts and view all your financial data with a few simple clicks from your PC, laptop, tablet or phone. That means you can cut, colour and style with confidence, knowing your books are in order. No more dealing with clunky spreadsheets or old boxes of receipts.
Here at Platinum Accounting & Taxation, we’re specialists in cloud accounting for hairdressers and barbers. We help you select the best system for your business and train you to manage daily transactions. Once you’re set up on the cloud, we can take care of all your needs. Choose from one of our affordable cloud bookkeeping packages or business accounting packages, or simply call us when you need us. Here’s what we can help you with:
- Real-time accounting
- Tax return preparation
- BAS preparation
- Business budgeting
- Cash flow forecasting
- Tax compliance
- GST set up and lodgement
- Tax planning
- Business structure and setup
- PAYG, FBT and superannuation
- Business coaching
Head and shoulders above other Accountants
You’re more than a hairdresser or barber. You’re a time manager, a problem solver, a team player and a confidante for your clients. At Platinum Accounting & Taxation, we are more than just accountants. In addition to our foundation services, like business accounting and bookkeeping, we offer a range of strategic financial services to help your business grow. These include business coaching, marketing advice and tax planning for hairdressers and barbers.
Whether you’re in need of a simple tidy up or a full financial makeover, our team has you covered. With friendly service, open communication, prompt responses and award-winning experience, you’ll love our style.
Tax deductions for hairdressers and barbers
As a hairdresser or barber, you may be entitled to claim a wide range of tax deductions. These include the cost of training courses, magazines and journals, professional insurance, compulsory uniforms, protective clothing and, of course, materials and equipment – like scissors, clippers, shampoos and colours. If you run a home-based business, you may even be eligible to claim a percentage of your running costs, including the cost of using a specific room, plus power, telephone and internet expenses.
As accountants for hairdressers and barbers, we know every deduction for your niche industry. When it comes to preparing your tax return, we examine all possibilities with a fine-tooth comb, ensuring you get the best possible outcome. Our process is fast, easy and hassle-free. Plus, the cost of our services is fully tax-deductible.
Tidy up the split ends with Platinum Accounting – Get started today
Contact us to find out more about our accounting services for hairdressers and barbers. We’re located in Melton, but we work with stylists across Melbourne and beyond, including Bacchus Marsh, Brookfield, Eynesbury, Deer Park, Gisborne and Caroline Springs.