Getting your taxes done is easy as mixing color!

taxaesWith a busy day booked with appointments and keeping on top of hair trends, the last thing on your mind is how to claim your expenses and taxes. This year, we teamed up with Canada Revenue Agency to make this tax season as flawless for you as possible. Here are a few tips:

Expensing Supplies and Tools
a). Whether you’re a salon/spa owner, part time worker or paid via salary or commission, you’re considered an employee on a payroll. You can deduct the cost of supplies you purchased for work. Hairspray, shampoo, waxing strips, cotton balls…the list goes on.

For more info, visit: www.cra.gc.ca/employmentexpenses.

b). You could also deduct the cost (up to $500) of eligible tools, such as: curling irons, blow dryers and UV lamps for gel nails. What’s considered an eligible tool? Click here to find out: http://bit.ly/17fbY0l

For this expense, you’ll need your employer to authorize that the tools were purchased by you and used for your work.

For more info, visit: www.cra.gc.ca/trades.

Tips and Gratuities
As a Hairstylist or Esthetician, the majority of your income comes from tips and gratuities. Talk to your employer if any or all of the tips you earn will be included on your T4 slip. If it doesn’t, it’s your responsibility to keep track of it and report them on line 104 of your income tax and benefit return.

Business Expenses
Whether you’re renting a chair, working from home or own a salon/spa, you can deduct any applicable business expenses. This includes: chair rental fees or supplies such as hair colour, shears, microdermabrasion tips, nail polish and much more!

  • Is your salon or spa based out of your home? If so, you can deduct household expenses such as insurance and heating. Who knew!!? For more info, visit: http://bit.ly/1AP8cH

Apprenticeship Job Creation and Tax credit
Are you a salon owner who recently hired a Red Seal apprentice Hairstylist? If so, you can claim the apprenticeship job creation tax credit. This tax credit is equal to the lesser of $2,000 or 10% of the eligible apprentices’ salaries or wages. You can carry the whole credit amount three years back or carry it forward for up to 20 years!

For more info, visit: http://bit.ly/1DnjwvX

Where do you file your taxes?
You can file your taxes with various income tax software, such as: Netfile or Turbo Tax. Don’t want to do it yourself because ‘ain’t no body got time for that’?! Visit your local H&R block and they’ll help you out!

Owning a salon or spa is more than just cutting hair, doing chemical peels, marketing or hiring employees. As a salon or spa owner, you have to ensure that employee contributions, premiums and tax amounts are properly deducted and sent to the Canada Revenue Agency.

For more info, visit: http://bit.ly/1ABN5JA 

The deadline to file your personal income tax and benefit return is April 30, 2015. If you, your spouse, or common-law partner is self-employed, the deadline to file is June 15, 2015. BUT, if you’re self-employed and have a balance owing for 2014, you still have to pay it on or before April 30, 2015.

Beauty Career Fair


With resume and portfolio in hand, Edmonton MC College students got the chance to meet and network with salon/spa owners and managers at our Beauty Career Fair on June 10th. The event ran from 9am -3pm in the Artego Creative Lounge at the Edmonton Campus. Throughout the event, the room was constantly buzzing with excitement and chatter as 9 salons and spas did mini interviews, hair demos and handed out swag bags.

111

“It’s a great chance to meet with prospective employers and learn which salons and spas are a good fit for the students” said Edmonton MC College Director, Analia Rubie.

Prior to the event, each student created a list of questions they wanted to ask their future employers. The questions ranged from: “what is your salon/spa culture like?” to “do you provide advanced classes for your employees” and “what are your starting wages?”

As a result of this successful event, 2 MC College students were given job offers on the spot!

10314617_580477588716637_5497275088820165801_n

Thank you to the following salons and spas that made it to our Career Fair:
• Biondi Hair
• Chrome Salon
• Fresh and Co
• Headlines
• Kinetic
• Ponytails and Horseshoes
• Rain Salon and Spa
• Ricci Hair
• The Beauty Lounge

Our next Career Fair is October 2014. Stay tuned for more information on the date, time and how your salon/spa can RSVP to this event!

10376069_580477745383288_1308992113328127506_n

 

“Survival of the Fittest” Hair, Make-up and Style Competition at Calgary MC College

trical

Last week, Calgary MC College students from the Esthetics and Hairstyling department went head-to-head in a hair, make-up and style competition. With a strict deadline of 3 hours to execute and complete their creative concept, 6 teams ‘rose up to the challenge of their rivals’ (brownie points if you know the song!) to create looks that showcased the “Survival of the Fittest” theme. From looks that were inspired by the runways of New York Fashion Week to popular television series (Survivor and Walking Dead), students were judged based on the following criteria: creativity, originality, teamwork and the quality of make-up, hair and wardrobe styling, by the tribal council (the Calgary MC College administration team). With elements such as leopard print, camouflage, feathers and sparkling East Indian Sari’s, the 6 teams got the chance to capture their creativity in a professional photo shoot!

yyc style

Congratulations to the winning team!