Industry Expertise

Salon Accounting & Tax Advisors

Your salon’s growth, our expertise

Smart accounting and advisory services for growing salons.

Running a salon is more than providing great services, it’s managing cash flow, paying yourself correctly, staying compliant, and making smart decisions as your business grows.  Salon owners also face unique financial challenges, from tip reporting and payroll compliance to tax planning, expansion decisions, and understanding true profitability.  Our salon accounting and advisory services focus on helping salon owners make sense of their numbers and use them to run stronger, more profitable businesses year round, not just at tax time.

Who We Work With

We work with salon and beauty business owners who want more than basic tax filing, including:

• Employee based salons
• Hybrid models
• Multi-location and growing salon groups
• Salon franchise owners
• Owners planning for expansion, restructuring, or exit

If you’re looking for a CPA who understands how salons operate and provides ongoing guidance, not just a once a year tax return, we’re a strong fit.

Why We Do This

We love empowering salon owners so they can understand their business and thrive on their own terms.

How We Help Salon Owners

Rather than offering one off services, we take an advisory led approach designed around the realities of salon ownership.

Tax Planning Built for Salons

We go beyond compliance to help you:

• Reduce tax liability through proactive planning
• Navigate industry specific tax issues like tip reporting and tip credits
• Make informed decisions before year end, not after it’s too late

Financial Clarity and Owner Pay Strategy

Salon owners often struggle to answer basic questions:

• How much should I pay myself?
• Which services or locations are profitable?
• Can I afford to hire, expand, or invest right now?

We help you understand your financials and use them to guide decisions with confidence.

Ongoing Advisory Support

As your salon grows, questions don’t wait for tax season. Our advisory approach gives you access to guidance throughout the year, whether you’re adding a location, changing compensation structures, or evaluating new opportunities.

Our Advisory First Approach

Many salon owners choose to work with us through an ongoing advisory relationship, rather than disconnected, transactional services. This approach allows us to:

• Stay involved throughout the year
• Anticipate issues before they become problems
• Provide advice aligned with your goals, not just compliance deadlines

Think of us as an extension of your leadership team who is focused on helping you run your salon more effectively.

Why Salon Owners Choose Boyum Barenscheer

• Industry experience working specifically with salons and beauty businesses
• Advisory led mindset, not just tax preparation
• Clear communication without accounting jargon
• Long term partnership as your business evolves

Are we the right fit?

Our salon services are best suited for owners who:

• Want proactive guidance, in addition to tax filing
• Are focused on growth, improvement, or long term planning
• Value understanding their numbers and using them strategically

If you’re simply looking for the lowest cost tax return, we may not be the best fit, and that’s okay.

Talk with a salon advisor

If you would like to explore whether our salon accounting and advisory services are right for your business, we’d love to start a conversation.  Contact us to schedule a call.

Salon Advisory Tier Information

See our service tiers for salon tax and financial planning.

View Details

Service Rates Pricing Calculator

Use our salon pricing calculator to estimate your service rates. One of our advisors will discuss and help finalize pricing with you.

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Salon Advisory Specialists

Frequently Asked Questions

The IRS guidelines require you to collect information about tips and include those in the W-2s for employees. Both cash and credit card tips should be collected regularly and paid out to the employees but also reported as part of their wages.  The salon owner bears the responsibility to ask employees to report their tips and then properly record those as part of the payroll system each pay period.

For the salon industry there are two common models, the employee model and the booth renter model.  The employees receive W-2 wages and the service providers will typically be paid through commissions while the front desk workers would be paid hourly.  A booth renter is an independent contractor who rents a space from the salon owner.  The booth renter and salon owner have a relationship just like a landlord where rent is collected each month and the booth renter is free to operate how they desire.

Gift cards are recorded as a liability on the balance sheet when they are sold.  It is wise to set this money aside so that you can service the gift cards when they are redeemed.  Gift cards do not have an expiration date, but for tax purposes the gift cards become income to the salon after 1 year so keeping track of the gift card liability is very important.

Having a strategy for owner compensation is a key to a thriving salon company.  Whether the owner works behind the chair or not, paying the owner or multiple owners effectively can generate huge tax savings.  Every situation is different, but being strategic and intentional about owner compensation is a great way to maximize the return on investment for a salon owner.

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We are a full-service Twin Cities CPA and advisory firm providing proactive tax, audit, and outsourced accounting services to help individuals, nonprofits and businesses achieve long-term success.

Contact Us
Info@myboyum.com

Home Office:
3050 Metro Drive, Suite 200
Bloomington, MN 55425

952-854-4244