If I listened to my taxes, I'd be looking for another job! No. I don't cheat on my taxes-- I don't have to. I just end up spending the vast majority of my discretionary income on things that just happen to also be tax deductible. Some women buy shoes, I buy glitter.
I keep a list of mandatory expenses-- things like my salon rent, insurance, licensing and taxes, and a realistic supply and advertising budget: things that I absolutley MUST pay for in order to remain in business. I pay attention to that cost of business and seperate it in my brain from all the glitters, gel polishes, tradeshows, competitions, trade magazines, (non mandatory) continuing education classes, etc, that I also pour money into every year. This gives me a better perspective on how much my business is ACTUALLY costing me. So I still know that I'm realistically making a viable wage at the end of the day. But since so much of my personal money gets spent on all those extras, of course I deduct what's deductible on my taxes! Which makes me look downright impoverished on paper. But I know that if my personal overhead increases, I actually DO make the money to accomadate those expenses-- it just means I won't be able to grab every glitter I see, or run out and buy every color of Gelaze that Sally's had in stock. I'll have to stick to the operating budget-- skip a few tradeshows, miss out on a networking event, etc. Chloe mentioned: "Also I was so bad at this if it's a client that's been coming for a while I wouldn't charge them regular price I would discount them that has to stop..." I'm also really bad about this. I do so many services that include add ons like extra glitter colors, rhinestones, add some nail art, etc. When they ask me what they owe me at the end, I didn't bother actually adding each thing up and doing the math, I'd come up with a rounded-off estimate of what I did. I use Square Up now for my credit card transactions, so I set up my Square up as a POS system; entering each service and add on into the system so instead of just typing in the amount they owe me and running their card, now I actually add "acrylic fill, plus regular nail art, plus glitter, plus glitter...." so the "register" adds up the service for me. This way I'll generate more detailed reports and I don't short myself as often, or inadvertently play favorites with clients. :-) I highly recommened Styleseat for those nifty reports. HOWEVER, beware that SS does NOT take into account "overtime--" any appointments that are done outside your normal work hours are not included in the reports. At least, not in the % of hours worked. SS still doesn't quite meet my needs from scheduling software, so that's why I was pretty happy that I could do this with Square. Maggie Franklin: Owner & Artist, The Art of Nailz, Visalia CA "Visionary rebel dreamer; obviously way ahead of my time." Maggie Rants [and Raves]@Nails Magazine Facebook >________________________________ > From: Lauren Dodson <april392...@yahoo.com> >To: nailtech@googlegroups.com >Sent: >Subject: NailTech:: Getting burned out! Help > > > >After doing taxes, I realized I make about $11 an hour. I own a salon and have >three booth renters. I need ideas on attracting new business and also on >cutting corners on expenses. I think I spent too much on things for the >salon, ie: polish, gel polish and such. The booth rent covers everything else >but I'm still out of pocket for about 1200$. Need my own book busier too! >Thanks -- >You received this message because you are subscribed to the Google Groups >"NailTech" group. >To unsubscribe from this group and stop receiving emails from it, send an >email to nailtech+unsubscr...@googlegroups.com. >To post to this group, send email to nailtech@googlegroups.com. >Visit this group at http://groups.google.com/group/nailtech. >For more options, visit https://groups.google.com/d/optout. > > > -- You received this message because you are subscribed to the Google Groups "NailTech" group. To unsubscribe from this group and stop receiving emails from it, send an email to nailtech+unsubscr...@googlegroups.com. To post to this group, send email to nailtech@googlegroups.com. Visit this group at http://groups.google.com/group/nailtech. For more options, visit https://groups.google.com/d/optout.
