These are the highlights of the full episode.

Hey everyone, Donovan here, producer of the Hair Game podcast.

Salon Public has a new location in Philadelphia, opening up soon this fall, and that's in the

center city area.

So if you are around there and are looking for a new hair home, go to salonipublic.com or our

link in bio on the Hairgame podcast.

You can book a virtual tour right now, see what the place is going to look like, and get

first dibs on your new space.

All right.

On to our episode with Michelle Cook.

So the one that's getting the most chat about is the tips deduction.

So there's a provision that people who are in traditionally tipped industries,

which of course would include the beauty industry, can deduct up to $25,000 in tips.

So this is a really big deal because if you, let's say, you know, you want to get a loan

or you want to buy a house a car, whatever it is, you can present your tax return. It will show

total income and you get the deduction. So you're not paying taxes on it, but you can still

show the earnings from your tips. So you still get the benefit of saying, look at all this

money I made, but then you don't have to pay federal taxes on it. So it's pretty exciting.

That is very exciting. You said up to $25,000 to deduct off of your total taxable income, right? So let's say your

taxable income was $100,000 and you made the exact amount in tips that you're allowed to deduct.

Actually, for effect, let's say you made $24,000 in tips.

And so you can take the $100,000 in taxable income minus $24,000.

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