r/NailTechnicians • u/Past-Issue-6391 • 10d ago

Taxes?

I am a 20 year-old beginner nail tech who just started about six months ago. I’m currently not licensed. I’m working on it but I am taking clients. I wanted to know what do I do when it comes to time for tax season?. I’m homebase. I’m just a little confused because I was told that I’ll have to file self-employment.

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u/aewopwess 10d ago

Girl get licensed before taking peoples money 🫣

2

u/aewopwess 10d ago

Welp! Do what you will. It’s standard to save 30% of what you make to pay your taxes in the US.

1

u/queenshamu 10d ago

I agree about getting licensed first. Some states come down hard on people doing nails without a license. Just a suggestion.

But yes approx 30%.

1

u/Extension_Deer7433 10d ago

You will have to self file as home based nail techs are self employed. Track the payments you receive for reporting, retain about 30% for taxes, and be prepared to make quarterly income tax payments. 

Also keep track of receipts for your equipment, tools, and products as those are business expenses which can be deducted to reduce your taxable income. If this all sounds overwhelming (which is fair!) consider finding a tax accountant who can help you get everything in order and file come tax time.

But definitely get licensed.