Ep. 415 • How Big & Beautiful Is the New Bill for Hairdressers? w/ Michelle Cook
The Hair Game
Salon Republic
4.6 • 570 Ratings
🗓️ 15 September 2025
⏱️ 59 minutes
🧾️ Download transcript
Summary
Michelle Cook @smallbusinessCPA, an accountant specializing in the beauty industry, discusses the implications of the recently passed Big Beautiful Bill. The conversation covers new tax law changes that will significantly impact hairstylists and salon owners.
This Weeks Topics:
- Tips Deduction: A Game Changer for Beauty Professionals
- Who Benefits from the Tips Deduction?
- Cash Tips and Reporting Challenges
- Organizing Finances: The Importance of a Good System
- Best Platforms for Beauty Professionals
- Payroll Tax Credits for Salon Owners
- FICA Tip Credit: A Permanent Change for the Beauty Industry
- Bonus Depreciation: A Game Changer for Business Owners
- Qualified Business Income Deduction Explained
- Changes to 1099 Reporting Requirements
- Personal Tax Provisions for Beauty Professionals
- New Tax Deductions and Credits for 2025
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Transcript
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| 0:00.0 | So this is a really big deal. |
| 0:02.0 | People who are in traditionally tipped industries, which of course would include the beauty industry, can deduct up to $25,000 in tips. |
| 0:12.0 | Hi, everyone. |
| 0:13.1 | My name is Kirill Hairfucker. |
| 0:14.5 | It's Duchess of the Dolls. |
| 0:15.7 | This is your boy Wesley Palmer. |
| 0:17.2 | My name is Caitlin Ford. |
| 0:18.4 | Hi, it's You Ney Damtu, and you are listening to The Hair Game Podcast. |
| 0:26.1 | Hey everyone, Donovan here, producer of the Hair Game Podcast. Salon Republic has a new location |
| 0:31.4 | in Philadelphia opening up soon this fall and that's in the center city area. So if you are |
| 0:37.2 | around there and are looking for a new |
| 0:38.6 | hair home, go to salonipublic.com or our link in bio on the Hairgame podcast. You can book a |
| 0:44.2 | virtual tour right now, see what the place is going to look like, and get first dibs on your new space. |
| 0:50.5 | All right, on to our episode with Michelle Cook. Hey, Michelle, how are you doing? |
| 0:55.5 | Doing great. Glad to be here. |
| 0:57.6 | Happy to have you here. |
| 0:59.0 | So you've been on the Hair Game podcast before. |
| 1:01.8 | Those dutiful listeners who've been listening for a long time will remember you. |
| 1:07.3 | You are Small Business CPA on Instagram, which is a really cool Instagram handle. |
| 1:13.4 | You probably got that very early. And you're Carter Cookcpa's.com on the worldwide interweb. |
| 1:21.9 | So you specialize in helping small businesses with their taxes, and you focus on the beauty industry, |
| 1:31.1 | which is why we like to have you on. |
... |
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