Who Makes More Money? Commission stylists or booth renters?

Who Makes More Money? Commission stylists or booth renters? 
conversation with Certified Public Accountant, Desarie Anderson of www.accountants4hairstylists.com

On Tuesday, January 8, 2019 ANHC Pro members will have an opportunity to chat with Certified Public Accountant, Desarie Anderson about commission vs. booth rental.  Desarie created the video below to answer the following question received she from a hair stylist working in Georgia (U.S. State).

I currently work as a booth renter, but I am thinking about going to work at a commission salon. My concern is that I don’t know if I feel comfortable giving up half of my money to the shop owner. I was wondering if it makes financial sense to make the move? I will go over a side-by-side net income comparison between a booth renter and a commission stylist and see what the numbers tell us.

During our chat we will discuss how to make the best decision for yourself, should you be receiving a 1099 or W2, and what goes into keeping good records.  We will not only discuss this from the employee or booth renter point of view we will also discuss salon owners responsibilities for commission stylists as laid out in the video.  After the chat we encourage you to come back and leave a comment below.  Let's keep this conversation going.

CLICK HERE to enter the Do-it-yourself Bookkeeping Package Giveaway Contest For Booth Renters, & Salon Suite Owners 

CLICK HERE to download a copy of Anderson Accounting's The Top 11 Tax Deductions For Beauty Industry Professionals

CLICK HERE to determine which of the 4 Quickbooks Online solutions you should be using in your business

 


Do you need help with building your recruiting system, creating your online recruiting tools, or developing your employee program?  Contact us at [email protected] or 678-459-5212 about our consulting and management Pro Services.
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Comments on "Who Makes More Money? Commission stylists or booth renters?"

Comments 0-5 of 2

Elaine Truesdale - Thursday, January 10, 2019
1000679939

My top tip from the chat is make sure you are keeping good records. Without good records an accountant may not be able to help you and you have no defense against a tax audit. Quickbooks has tools that can help. If you want to learn about their tools or need help getting set up visit https://www.accountants4hairstylists.com/

Elaine Truesdale - Thursday, January 10, 2019
1000679939

Thank you to Desarie for informing us about what is necessary to avoid having to pay back taxes and possibly losing your business. Also, thank you to members like Yonni Red, who asked questions specific to today's stylist who is likely managing multiple streams of income (salon work, retail, mobile work, or even teaching online classes).

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