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Both HSAs and FSAs offer valuable tax advantages and can significantly reduce the financial burden that comes with healthcare costs. Find out the difference between the two and how they may benefit both you and your employees.
Washington has been full of talk about eliminating taxes on tips. What does that mean? Kopsa Otte's Jaimee Ortegren walks us through the proposed legislation and what it could mean if passed.
If you're self employed, the IRS expects you to make estimated tax payments throughout the year. Tax Attorney Tina Azarvand answers your questions on tax payments and offers advice on how to make it easier.
On Friday, February 12, 2021, the IRS will begin accepting and processing 2020 tax year returns. Get a jump on things with these tips for making the process easier and more efficient.
Beauty experts took a deep dive into compliance for owners. The event was sold-out.
Eric Tyson, the author of Small Business Taxes for Dummies offers small business owners nine strategies for saving money on their taxes, which increases revenue.
As the salon industry finds new champions with Representatives Darin LaHood and Suzan DelBene, a new bill promises credits on the FICA taxes owners pay on tips.
April McDaniel, a CPA with Kopsa Otte, a leading tax and accounting firm working with salons across the U. S., explains why you should report your tips.
The Small Business Tax Fairness and Compliance Simplification Act (H.R. 6736) would modernize existing laws to provide relief to small businesses in the hair care and beauty service industry.
In December, Congress passed and Trump signed the biggest tax bill into law since 1986. Is this a blessing or a curse for salon owners? Find out as CPA Larry Kopsa reviews the changes with Salon Today.
ShearShare, a global marketplace that allows salon and barbershop owners to rent their excess suites and booths to licensed cosmetologists and barbers on demand, has partnered with Track and First American Payment Systems to provide financial resources to self-employed beauty and grooming professionals who use the ShearShare platform.
Salon industry tax advisor Larry Kopsa examines a salon's different charitable options and the tax ramifications of each.
An avid Hunger Games fan, Larry Kopsa applies lessons learned from the popular series to help salon owners play the tax game and defeat the IRS.
As we worked on this story, Larry Kopsa was working hard on tax returns for this year’s April 17 filing date, but he took a quick break to give us some eye-opening tips for owners.
Ka-ching, ka-ching...the end of the year is the time to make some serious money in salon business. Not only can you boost revenues with the additional business that comes through your door during the holiday season, but you can also make money by doing some effective year-end tax planning, says Larry Kopsa, CPA or Kopsa Otte CPAs and Advisors.
