02/27/2015
Tax Write Offs for Barbers
by Faizah Imani,
As a barber, you qualify for certain tax breaks.
The Internal Revenue Services, or IRS, allows self-employed barbers to claim deductions, also known as "write-offs." These write-offs decrease the amount of taxable income a barber earns each year. To qualify for the deduction, the expense must be common in the barber industry and necessary for your own business to operate.
Education & Licensing
A barber can only write off barber school expenses if he is single and earns less than $80,000 annually -- $160,000 if married filing a joint return. Barber school write-offs include tuition only, not textbook expenses. The barber can also write off licensing fees and continuing education expenses. This includes the cost for the courses, as well as any other expenses incurred while taking the courses, such as transportation, meals and lodging.
Operating Expenses
A barber can write off all expenses required to operate his business. This includes money spent towards advertising, purchasing equipment, liability insurance, cleaning supplies, business cards, booth space and uniforms. If the uniform requires dry cleaning, he also can write off the dry cleaning expenses.
Related Reading: What Does a Tax Write-Off Mean?
Miscellaneous Expenses
If the barber is a member of a professional organization that requires membership dues, the amount paid is tax-deductible. If he subscribes to a trade magazine, the subscription fee is also deductible. The barber can deduct other miscellaneous expenses, such as money spent towards customer gifts, refreshments, attending conferences and hairshows.
Write Off Forms
To write off your barber expenses, you must complete IRS Form 1040. Enter your business expenses in the 1040's "Deductions" section. You can take a standard deduction if your total expenses do not exceed the set dollar amount allowed. If your expenses are more than the standard deduction dollar amount, you need to select itemized deductions. By doing so, you are able to list your expenses item by item. To do itemized deductions, attach IRS Form 1040 Schedule C to your regular 1040.
