#366 - IRS tax announcement and how it could impact stylists and salon owners

Thriving Stylist Podcast

Britt Seva

Stylist, Business, Hair, Hairstylist, Marketing, Salon, Careers, Businessbuilding

4.7 • 2K Ratings

🗓️ 16 December 2024

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

The IRS is now using AI to search tax records and open audits, but what exactly does this mean for stylists and salon owners? Today, I want to talk about how this latest news from the IRS could significantly impact your business, and I break down the key areas where the IRS’s AI is likely to focus, while sharing strategies to help mitigate risks and ensure your tax filings are accurate.

Whether you're a solo stylist or own a thriving salon, it's important to stay informed about the latest tax developments. While this all might sound alarming, understanding the implications can help you stay compliant and protect your hard-earned money, and I hope this episode helps you avoid any potential tax troubles that may trip you up!

Do you have a question for me that you’d like answered in a future episode like this one? A great way to do that is to head over to Apple Podcasts and leave a rating and review with your question. I'm looking forward to answering your question on a future episode on the podcast!

If you’re not already following us, @thethrivingstylist, what are you waiting for? This is where I share pro tips every single week, along with winning strategies, testimonials, and amazing breakthroughs from my audience. You’re not going to want to miss out on this.

Learn more at: https://thrivingstylist.com/podcast/

Transcript

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0:00.0	Do you feel like you were meant to have a kick-ass career as a hairstylist?
0:05.8	Like you got into this industry to make big things happen?
0:09.1	Maybe you're struggling to build a solid base and want some stability.
0:12.5	Maybe you know social media is important, but it feels like a waste of time because you
0:16.1	weren't seeing any results.
0:17.9	Maybe you've already had some amazing success, but are craving more. Maybe you're
0:21.9	ready to truly enjoy the freedom and flexibility this industry has to offer. Cutting and
0:26.9	coloring skills will only get you so far, but to build a lifelong career as a wealthy
0:31.5	stylist, it takes business skills and a serious marketing strategy. When you're ready to quit
0:36.6	just working in your business and start working on it,
0:39.0	join us here where we share real success stories from real stylists.
0:42.7	I'm Britt Siva, social media and marketing strategist just for hairstylists,
0:46.3	and this is The Thriving Stilist Podcast.
0:51.1	What is up and welcome back to the Thriving Stilist podcast.
1:11.2	I'm your host, Britt Siva. And today we're talking about the IRS and taxes and audits and just all kind of fun stuff. I actually, I know that this stuff can be a little bit hard to talk about. Sometimes it's hard to even listen to because it's so technical and it's not really fun to talk about taxes in the IRS. But I think these things are important because the other
1:15.5	things that's not fun is an audit or paying back taxes or worse. And so I think it's really
1:21.8	important that we have these conversations from time to time, especially we just recently talked
1:26.7	about financial changes that we could see
1:28.9	coming through with the new administration. And so I think this announcement that recently
1:32.8	came from the IRS is very worthy of us talking about on the podcast episode. I also want to talk
1:37.7	about ERC credits and a few other tax-related things as we close out 2024 and look to 2025.
1:44.0	So let me explain where
	...

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