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Blue Ocean Professional Corporation
CPA, Chartered Professional Accountants Free Consultation
INDUSTRIES · 10

Accounting for beauty & personal care businesses

Salons, barbershops, spas and studios: chair rentals, product sales, tips and payroll.

Chair rentalBooth and chair rental income recorded separately from service revenue
InventoryRetail products and back-bar supplies tracked separately
TipsTips handled correctly on payroll for employed staff
WHAT WE HANDLE

The work that comes with your industry.

Booth and chair rental

Rental income, agreements and the employee-or-renter question sorted out.

Product sales and supplies

Retail inventory and back-bar supplies tracked so margins are clear.

Payroll and tips

Stylists and staff paid with the right deductions.

GST/HST

Returns covering services, retail sales and chair rentals.

Equipment and renovations

Chairs, equipment and leasehold improvements claimed through capital cost allowance.

Year-end and tax

Financial statements, your T2 or personal return, and planning for next year.

COMMON QUESTIONS

What beauty clients ask us

Are my stylists employees or booth renters?

It depends on who sets the hours, prices and clients, and who supplies the products. We review your agreements so payroll is set up correctly.

Do I charge HST on chair rent?

If you're registered, chair and booth rent is generally taxable. We'll confirm it for your setup.

I'm a solo stylist. Can you help me?

Yes. We work with sole proprietors as well as incorporated salons, and can start with a single review of your expenses and HST position.

Ready for an accountant who knows your industry?

Mississauga, ON · St. Petersburg, FL · info@blueocean.tax

Free Consultation 416-828-7462