Carter Cook, CPAs

Carter Cook, CPAs Team of beauty accountants serving beauty professionals all over the US.

Married filing separately sounds more simple when you're a salon owner. But it's almost always a financial penalty.You'l...
09/02/2026

Married filing separately sounds more simple when you're a salon owner. But it's almost always a financial penalty.

You'll usually pay more tax on the same income. You'll pay for two returns instead of one. And if your spouse itemizes, you lose your standard deduction. Even if it costs you thousands.

Filing separately also wipes out credits you'd otherwise get: earned income, education, student loan interest. Roth IRA contributions phase out at just $10,000 of income.

The No Tax on Tips Deduction? Say goodbye if you file separately from your spouse.

So who should file this way? Couples who prefer to keep their finances completely separate, or anyone protecting a spouse from their tax mess. It's a shield, not a savings option.

Not sure which way to file? Comment CALL and we'll send you our services page.

If you have kids, it's important to know what tax incentives are available for their future. The answer will depend on h...
09/02/2026

If you have kids, it's important to know what tax incentives are available for their future. The answer will depend on how much disposable income you have to contribute to your child's future. There's some overlap, but the strategies are different.

A 529 is built for school. Money grows tax-free, comes out tax-free for education expenses. That's its whole job and it's great at it. The funds can be used for K-12 tuition as well as college. Plus, the laws were recently expanded to allow 529s to cover additional costs and roll up to $35k of unused funds into a Roth IRA for the beneficiary.

A Trump Account locks the money until your kid turns 18, then it transfers to them. From there it follows traditional IRA rules. Every dollar gets taxed as ordinary income when they pull it out. Pull it out early? Income tax PLUS a 10% penalty, with a few exceptions like college and a first home.

Think of the Trump Account as a retirement head start for your kid or a down payment on their first home. The main difference is that a Trump account contribution does not require earned income like a Traditional IRA does.

If your kid is born 2025–2028, claim the free $1,000. Keep your education savings in the 529 and if you have extra money beyond the 529 contributions, Trump accounts are a nice way to give your kid a head start on retirement or first home down payment saving.

What's your plan? One, both, or still deciding?

Your 2023 baby can have a Trump Account. She just won't get the $1,000.Any child under 18 with a Social Security number ...
08/31/2026

Your 2023 baby can have a Trump Account. She just won't get the $1,000.

Any child under 18 with a Social Security number qualifies for the account. The seed money is narrower. It goes to kids born between January 1, 2025 and December 31, 2028. Millions of eligible kids still don't have an account, and the $1,000 is sitting there waiting on a form.

Neither one happens automatically. A parent or guardian has to file IRS Form 4547. Do it online at trumpaccounts.gov, in the Trump Accounts app, or with your tax return. Once the account is open and verified, Treasury sends the $1,000 for kids born 2025 through 2028.

Is the Trump Account what you thought it would be? Plan to take advantage of it? Comment your thoughts.

Owners sit on cash in the business account because they're afraid a draw will trigger a tax bill. It won't.If your salon...
08/28/2026

Owners sit on cash in the business account because they're afraid a draw will trigger a tax bill. It won't.

If your salon is an LLC or an S corp, you're taxed on profit. That happens on your return whether the money stays in the business account or is pulled to your checking. A draw is a transfer between two accounts you already own.

What that money is actually for is a different question. Payroll, rent, product, your tax reserve, and a real cushion all come first. But knowing you already paid the tax should make you plan better, not empty the account.

One note for S corp owners. Your salary runs through payroll and gets taxed separately. Distributions on top of it follow the rule above, as long as you have enough invested in the business to cover them. Your CPA can confirm that number.

Want to work with tax advisors who know the beauty industry? Comment CALL for our services page.

What's the best schedule to pay your employees?Weekly? Too much admin time. Bi-weekly? Better, but gives you 26 paydays ...
08/27/2026

What's the best schedule to pay your employees?

Weekly? Too much admin time.

Bi-weekly? Better, but gives you 26 paydays a year and 2 months a year that have 3 payrolls.

Bi-monthly? Twice a month gives you 24. The annual cost comes out the same. What changes is whether two months a year wreck your numbers and cash flow.

Move to Bi-monthly:

Close the 15th and the last day of the month.
Pay on the 7th and the 22nd.

That one week gap between the pay period closing and paying gives you a few days to run payroll and lets direct deposit clear before your team starts refreshing their banking app.

You get months that look like each other. You also get to stop bracing for the one that doesn't.

Simplify your business life. Comment CALL for our services page.

Uncle Greg was great when you were renting a booth and doing $40k a year. Uncle Greg still asks if you've tried writing ...
08/26/2026

Uncle Greg was great when you were renting a booth and doing $40k a year. Uncle Greg still asks if you've tried writing off your dog.

You have staff now. Payroll, tips, product inventory, maybe a second location. That's not a Greg-sized problem anymore.

Love you, Greg. We'll take it from here.

Comment CALL and we'll send you our services page.

Some people find receipt categorization soothing. We employ several of that breed.If that's not you, September is the be...
08/25/2026

Some people find receipt categorization soothing. We employ several of that breed.

If that's not you, September is the best month all year to hand it off. March is not.

Comment "CALL" for our services page. Let us do the boring stuff.

Deductions are the lever salon owners often think of first with their CPA. They're also one of the smallest ones on the ...
08/24/2026

Deductions are the lever salon owners often think of first with their CPA. They're also one of the smallest ones on the list.

A weekend of receipt hunting saves you a couple hundred bucks. A price update takes less time and pays for a year of weekends.

Pull your biggest lever first.

Comment CALL and we'll send you our services page.

Your gut says one thing. Your books say another.Some owners panic through a slow month when their margins are fine. Othe...
08/23/2026

Your gut says one thing. Your books say another.

Some owners panic through a slow month when their margins are fine. Others feel great right up until the tax bill lands.

Accurate numbers tell you which one you are.

Comment CALL and we'll send you our services page.

Tax season was rough. You promised yourself never again.Now is the window. Kids are back in school and the holidays have...
08/22/2026

Tax season was rough. You promised yourself never again.

Now is the window. Kids are back in school and the holidays haven't hit yet. You have time to get your books cleaned up before December gets loud.

We do bookkeeping and tax planning for salons and medspas, so next April looks different.

Comment "CALL" for our services page.

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