#2209 - Q&A: “Can I deduct clothes and haircuts on my taxes?”
Side Hustle School
Chris Guillebeau
4.7 • 3.3K Ratings
🗓️ 18 January 2023
⏱️ 5 minutes
🧾️ Download transcript
Summary
If you have a side hustle or even if you’re starting one and it doesn’t have revenue yet, you might be able to save a lot of money on your tax deductions. Listen to this caller’s question!
Side Hustle School features a new episode EVERY DAY, featuring detailed case studies of people who earn extra money without quitting their job. This year, the show includes free guided lessons and listener Q&A several days each week.
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Side Hustle School features a new episode EVERY DAY, featuring detailed case studies of people who earn extra money without quitting their job. This year, the show includes free guided lessons and listener Q&A several days each week.
Show notes: SideHustleSchool.com
Email: team@sidehustleschool.com
Be on the show: SideHustleSchool.com/questions
Connect on Instagram: @193countries
Visit Chris's main site: ChrisGuillebeau.com
Read A Year of Mental Health: yearofmentalhealth.com
If you're enjoying the show, please pass it along! It's free and has been published every single day since January 1, 2017. We're also very grateful for your five-star ratings—it shows that people are listening and looking forward to new episodes. 😎 🙏🏼
Hosted on Acast. See acast.com/privacy for more information.
Transcript
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| 0:00.0 | Have you ever been caught out by payments you've forgotten about? |
| 0:03.2 | Join over 2.5 million customers who are already using the Lloyd's Bank Upcoming Payments tool on our app. |
| 0:09.8 | It gives you early sight of regular payments that are due to leave your account in the next 31 days |
| 0:15.8 | to avoid any surprises. |
| 0:17.8 | It's just one of our many useful tools that can help you stay on top of your money. |
| 0:22.4 | To find out more, go to Lloyd'sbank.com forward slash cost of living. |
| 0:27.0 | Lloyd's Bank by your side. |
| 0:41.0 | Hey friends, welcome to Side Hustle School. It's Chris Gellabo. |
| 0:44.0 | Hot on the heels of a question and answer episode a few days ago about suing telemarketers. |
| 0:49.0 | Got another interesting idea for you. |
| 0:51.0 | This one may be a little bit more commonly known, but nevertheless quite important |
| 0:55.0 | if you're planning to run a side hustle or a small business this year. |
| 0:58.0 | The caller wants to know, can you deduct clothing costs and haircuts from your taxes? |
| 1:03.0 | All those fancy clothes you buy or maybe you don't buy any fancy clothes, |
| 1:07.0 | but all those clothes you buy, you buy clothes at some point, right? |
| 1:10.0 | Well listen, I'm no tax advisor. We'll be clear about that. |
| 1:12.0 | But it's also absolutely true that there are some creative and perfectly legal deductions for small business owners. |
| 1:18.0 | So if you have a side hustle or even if you're starting one and it doesn't have revenue yet, |
| 1:22.0 | you might be able to save a lot of money on some of those deductions. |
| 1:25.0 | So let's listen to this caller's question. Can I deduct clothes and haircuts from my taxes? |
| 1:30.0 | Who wouldn't want to do that? All right, stay tuned. |
| 1:42.0 | Hey, this is Shelby. I've found you on a friend's recommendation and have it enjoying the show. |
... |
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