You are getting better at doing these videos. I like the fact that you were able to pack this video with a lot more detail and reference several court cases. Keep up the good work
@564df6g5h4d6f5g4h6d58 күн бұрын
She is the best. Exceptional interesting and well explained content. Absolutely ❤ this woman!
@GotGracexxxxx8 күн бұрын
“The social media influencers are using their brains, which is dangerous…” 🤣🤣
@BrianFullerton5 күн бұрын
it may be one of the first times they were accused of that...
@timothynewton52312 күн бұрын
Really liked your "going to a party" analogy! I will be using it in the future
@jvb559015 сағат бұрын
More case law analysis!! I enjoy the stories in case law and how case law places the related statutes in context!
@reddiamond3066 күн бұрын
I need an Australian version of you! so I can confidently utilise all your advice. I love watching your thorough work in debunking tax law claims 🤩
@jose_f.n.p6 күн бұрын
Great video, I love the fact that you backed up the statement with examples of tax law.
@Lsjiwhayjjjaahhgsyy927266 күн бұрын
This is helping me study for the EA tests, thank you!!
@lonjohnson51617 күн бұрын
I saw where this was going based on ABBA. The Swedish band ABBA wanted to deduct their clothes, but were told that they couldn't if the clothes wouldn't look out of place if they wore them on the street. In order to preserve the deduction and stand out as musicians, they opted for clothes that were a bit flamboyant. I don't know details or how much is true, but that is what I heard.
@joetenise7 күн бұрын
IRS gives my paycheck a very handsome haircut 💇♂️
@PrashantJaiswalbhaiji15 сағат бұрын
This 😂😂
@TonySoprano20017 күн бұрын
Just want to say you are amazing I am 30 graduating with dual major in Finance/Economics Degree and preparing for LSAT to go to law school and your videos have made me love law even more since it’s all about presenting evidence and it’s annoying since I hear so many people in my life recite these influencer “tax” and “finance” advice as if it’s the Bible.
@DailyHabits-k7o3 күн бұрын
Love the quick deep dives! 🔥
@billyboy9698 сағат бұрын
If people in mass started trying to run their businesses unkept / uncut and thier businesses started to falter ( lower revenue ) the IRS would come to an understanding!
@lseh47208 күн бұрын
Smart!! You’re just kicking butt!! Thanks.
@aaronpetry7158 күн бұрын
Cool you just saved me $4 a year in taxes.
@MichaelWander8 күн бұрын
😂 More importantly, the headache of failing an audit 😮. But for some, they can spend a cool $1,000/ year on getting hair done.
@a.s.24264 күн бұрын
@@MichaelWander Audit isn't pass/fail and the expense to do it will be there regardless.
@MichaelWander4 күн бұрын
@ If in the course of an audit, the IRS finds you took an inappropriate deduction, the suspicion of other such errors increases. As such so will the time spent on the audit. I do not believe the taxpayer pays anything but time during an IRS audit. Perhaps a “Tax Audit” by a private company.
@funnlivinit7 күн бұрын
So, here's a question for you. I'm a municipal bus driver. I'm supplied with a winter coat with the company logo on the front and back. The coat remains company property, as we must return them at the end of our employment and the company will replace it if it gets torn or damaged. It gets very dirty during the course of my duties. For instance, installing and removing tire snow chains. My supervisor insists that it's my responsibility to keep it clean. Yet, they refuse to compensate me for that expense. Can I deduct the expense, including the value of my time, from my federal taxes? And on what form?
@Samstechtipsplsgivemeajoblinus7 күн бұрын
My general understanding is that you can't make deductions for a W2 job. If you get a 1099 that's a different story.
@justindlee305 күн бұрын
Fun video, i hope you make more long form content!
@GAFB11227 күн бұрын
Great video! I like how you summarized several case law results at the end. I expect you will still get a lot of "what if" scenarios in the comment section, but that it to be expected. Everyone believes they were the first person to come up with a way around the rules, lol.
@therealjacobb14932 күн бұрын
So all of these examples are for employees and gov contracts but what about if you have a 1099 or an LLC
@downingj82888 күн бұрын
I had to cut my hair every two weeks for 20 years. What a trip it would have been to write off my hair cuts 😂. 😊
@juniorgonzalez19687 күн бұрын
Nice vid! Love the context
@celaph71187 күн бұрын
I'd be interested in watching a video about students opening 529 plans for themselves. I've heard of working students funneling rent money through a 529 to avoid state income taxes on it and wanted to know the legality of such an operation.
@amosherron8 күн бұрын
thank you for these videos.
@ikiruyamamoto10505 күн бұрын
Another great video. But, what if (famous last words) the barber was hired full time (which of course is absurd for ordinary folks), or the services were provided only at the place of business (to make it less personal)? For instance, I'm fairly sure makeup and hair providers are employed (and the costs deducted) at movie and TV production companies, for their "on the air talent". After all, isn't that also just some employer mandated appearance requirement? Does it matter if it's a C Corp doing this (rather than an S Corp)? Same goes for uniforms and clothes provided employees and talent (although I guess if they don't get personal use out of the uniforms, and/or the employer keeps custody...and so the employee only gets access when they show up for work). Similarly, I believe there are special rules for employer provided meals, which aren't considered taxable income (which you've already covered).
@c0d3_m0nk3y7 күн бұрын
Love how you talk with your hand gestures. Do you have Italian ancestry by any chance? :)
@Officialalmate7 күн бұрын
I wish there was an exception for military members, especially because men have to maintain a certain look according to the reghlations. On the other hand, I can see a bunch of military members taking advantage of a hypothetical exception. It just makes more sense to have clippers at home to save money that way.
@taxleverage6 күн бұрын
The main court case - Drake - was for a person in the military. Not only is there not an exception, but the rule was established by the court because of a person in the military trying to deduct haircuts.
@seanohara57546 күн бұрын
Well I can personally attest that those high and tights WERE DETRIMENTAL for personal purposes. Way worse than the clown example you gave!
@garywidom7 күн бұрын
0:21 love the content but… Unkempt An adjective that means "not well-combed" or "not neat". It's commonly used to describe a person's appearance, such as messy hair, wrinkled clothing, or being unshaven. It can also be used to describe objects, such as unkempt hotel rooms or unkempt prose. Unkept An adjective that means "not kept" or "neglected". It's more often used to describe places, such as an overgrown garden. It can also be used to describe promises that have not been kept, such as "The governor has been criticized for numerous unkept promises made as part of the election campaign".
@gearanalyzer5 күн бұрын
What about for video production though? Surely a movie studio is deducting the cost of haircuts for an actor. If I have my own social media channels, how would that be different?
@davidmilhouscarter81987 күн бұрын
I’m a guy. I do HVAC for a living. I don’t get haircuts. My hair is as long, maybe a little longer, as Jasmine’s hair.
@phatgringo2.08 күн бұрын
I'm bald, problem solved!
@MichaelWander8 күн бұрын
🤣
@JW-eq3vj7 күн бұрын
You could get a tattoo of your business logo, or any business that is willing to pay you, then you could write off that tattoo! 😀
@mack-uv6gn7 күн бұрын
😂
@hf..72716 күн бұрын
🤣🤣The End!
@a.s.24264 күн бұрын
Great news. Scalp exfoliation is tax deductible. Karlton Dennis told me so.
@BEATSONFILM3 күн бұрын
As an entertainment company if I have to pay a stylist to cut clients hair for filming that is ordinary for the continuity of a film or show. So what if the person is an employee of their own business can they then do this too?
@sailingbrewer7 күн бұрын
I wrote haircuts and razors off when I was in the military. They had a written requirement to have a haircut and facial hair. I guess I got away with it for 20 years
@dustinasche3 күн бұрын
The spiky pink hair example is obviously an extreme for illustrative purposes, but I wonder how this would work if somebody was a professional model or actor. Since clothes are generally not deductible unless they are uniforms or costumes (and even then subject to limitations), if somebody paid for a haircut for a specific acting or modeling gig, would that be deductible and how unusual or extreme would that haircut have to be in order to qualify? Basically, where's the line drawn?
@thelobb7 күн бұрын
Could you explain the tax act commercial that talks about deducting wigs
@josejimenez61362 сағат бұрын
Great smile excellent information
@kevind40614 күн бұрын
Ty
@BrigitteBrodski7 күн бұрын
you're my hero!
@smalltv4593 күн бұрын
When I went to hair school, 10% of my overall grade was due to me dressing up and doing my makeup everyday for school.
@michaelgovas51088 күн бұрын
Hi Jasmine, I subscribed to your newsletter early December. How often are these sent? Also wondering when the next workshop will be? Thank you as always!
@Da_Crow8 күн бұрын
Can you do a video on having a business and writing off the office space at home and other write offs allowed like car use and meals
@andrewhealey31636 күн бұрын
I was curious about the performance aspect! The clown example is a good one, although I still wouldn’t be surprised if the IRS pushed back on the idea. I’m curious about a companies ability to write off grooming expense for their employees or contractors though, particularly in the context of movies or theatrical productions. If the hair and makeup would still be considered normal grooming, I.e. character specific but not out of place in normal society, can the business write off that expense? It seems like those expenses may be viewed as more ordinary and necessary to a business, than an individual. Or do they view them similarly?
@richgetz4 күн бұрын
What about if he grooming is for brand identity? You have a particular style, or clothing that is brand related to your social media?
@Bamidele-ee8ch7 күн бұрын
@taxleverage please can you do a video on where to find the 75000 pages of tax code?
@threepointonefour6077 күн бұрын
irs.gov
@allenkostner70567 күн бұрын
What about Reserve Soldiers that have to get a cut at least once a month and 2 weeks a year?
@porkch0mp5387 күн бұрын
The doors aren't that wide open. You need an expensive subscription to Lexis Nexis or Thompson Reuters to read tax law cases.
@stevengreidinger33046 күн бұрын
Go to a law library to get ‘em free
@benhackley50694 күн бұрын
Under social media influencer logic: “My clients prefer to work with a living human being; therefore, it is required that I eat and exercise in order to stay alive to serve my clients, therefore. All food, gym memberships, and the time I spend walking around the block… IS ALL TAX DEDUCTIBLE!” Geez!!!
@johnskrb5 күн бұрын
When a corporation hires a contract hair stylist to do the hair of the corporation's employees / contractors, is it deductible by the corporation? If so, does it make any difference if it's an S-Corp, C-Corp, or which individuals are serviced by the hair stylist?
@1611KJV4 күн бұрын
Real question. Do you offer training? If not, will you soon?
@MichaelHagberg7 күн бұрын
In Illinois we want to know if haircuts are a valid campaign expense. Just asking for a friend (cough) Mayor of Chicago.
@jjman5337 күн бұрын
IRS needs to audit those social media clowns promoting the writing off of hair cuts. Instant audits!
@michaelschwartz54177 күн бұрын
Wild that someone went to tax court to deduct haircuts. How much time and money did they spend to fight these in court?
@robinschade85446 сағат бұрын
So what are some instances where a haircut could be a deduction?
@lightningdemolition19647 күн бұрын
What happens if it is the business trying to write off haircut expenses for an employee. For example an actor or news anchor is required to sit in a chair and have their hair and makeup done before working. How about if they work for a company who wants a certain haircut every two weeks and their barber does it. Where is the line?
@taxleverage7 күн бұрын
Income to the employee if deducted/paid for by the business
@bigdog20847 күн бұрын
Wow. She's good!! How about some Intel for transportation? Stuff that trucking accountant may get wrong. Thank you! 🤘😵💫👊
@jaythemachine3845Күн бұрын
Quick fashion question 🙋🏻♂️. I just got accepted into a welders apprenticeship program and will be a certified welder in 3-5 years. I’ll be buying a welders truck here in a couple of years because I’ll be needing it for work. So my question is “will my truck and welding machine be tax deductible?”.
@TxgenMeyer3 сағат бұрын
Likely yes
@JoseAlba877 күн бұрын
2 example. "I got a haircut because it makes me look beautiful at the office. "I got a haircut at the Studio for a scene in a movie" One is for cosmetic pleasure, the other is a work expense.
@smbcpagroup6 күн бұрын
False. “Inherently personal” means just that. It’s inherently personal.
@southpole3806 күн бұрын
Now here’s a different question….is there a situation where you can use hair restoration/hair transplant as write off?
@MD_Wisdom6 күн бұрын
Skip to 8:15 if you want to know how you can legally deduct haircuts.
@concernedcitizen36494 күн бұрын
What microphone do you use?
@Minivet5 күн бұрын
This is a very Italian video with all the hand gestures
@eyv7 күн бұрын
Uh did she say boob jobs at 8:02? I'm dying to know what the case law says on boobs jobs that can't be used personally
@taxleverage7 күн бұрын
For another video haha
@joeb15225 сағат бұрын
REGINALD R. HESS AND CYNTHIA S. HESS, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE Respondent.
@D__Cain7 күн бұрын
How does this work with celebrities and the entertainment industry? When celebs have whole teams of beauty, stylists, etc : do they count? I feel like they would but idk.
@thescorpion3603 күн бұрын
I love your videos. Btw you're the "tax lady" others mention on some youtube gurus videos .
@aaronho19148 күн бұрын
Followup clarification question. What if they make use a specific hairstylist or hair product that you would not use normally?
@michaelgovas51088 күн бұрын
I believe she mentioned that towards the end of the video with the having pink hair to be a clown
@DuncanL79797 күн бұрын
Or even a specific hair style that someone normally wouldn't have, like Flock of Seagulls hair.
@КириллАникеев-н3г8 күн бұрын
didnt notice a difference between before and after
@antoniobrasse71573 күн бұрын
Hey you should cover this guy "markjkohler" that's on KZbin. I've seen a few of his videos, and it seems like he says some questionable stuff. Also can you speak to fica taxes and why an S Corp might be better than an LLC? A lot of these gurus seem to over simplify it.
@trabadass2 күн бұрын
What if the haircut is done for a partner of a film production company that is acting in a movie so the haircut is necessary to the creation of the product the company produces
@THEtaxstrategists5 күн бұрын
But WAIT, WAIT Jasmine - Karlton D (America's #1 Tax Strategists, Tax Alchemist that owns a Ferrari, Lambo, and lifts weights) says it IS deductible! Doesn't that make it so - LOL. PaceM also said on his "maximillan dier live stream" that Karlton is "the best" and Pace writes off his haircuts and underwear since he has an A&E show!
@mswarmie2 сағат бұрын
So Lady Gaga’s sculptured hair styling is tax deductible, but Taylor Swift’s flat ironed straight hair cut is not. Am I correct on this?
@taliavelazquez3585 күн бұрын
Does this still count for content creators or celebrities? It is necessary for them for them.
@a.s.24264 күн бұрын
Damn, Karlton. Guess there's your answer.
@happymcslappy36405 күн бұрын
Ok so, as long as it doesnt reach court, its deductible.
@saintino510618 сағат бұрын
If I have $0 taxable income and only make money off of capital gains. Is it 0% up to 50k or all the way up until 500k?
@seanohara57546 күн бұрын
What about when a studio pays for an actors hair and makeup? Is that tax deductible? The haircut may not be detrimental to personal purposes, but the actor may not wear their hair that way typically.
@TxgenMeyer3 сағат бұрын
Counts as a fringe benefit, not sure it would be taxable though
@seanohara57543 сағат бұрын
@TxgenMeyer but the studio gets to write it off? What if an actor also owns the studio?
@TxgenMeyer2 сағат бұрын
@@seanohara5754 the studio does not “write off” things. It has natural expenses as a result of being put toward whatever stated business activity it accomplishes. The individual employee or actor receiving the haircut would certainly be receiving a fringe benefit which /could/ be considered personal income at the end of the year but likely won’t be. If the actor owns the studio, then as the owner it would automatically count as profit being expensed as a portion of the owners income (ie an owner’s draw) and thus taxable on their personal taxes.
@seanohara57542 сағат бұрын
@@TxgenMeyer I literally can't tell if you're a CPA or never saw a schedule C. I guess I'll just let this one go because I don't understand what you're saying.
@IntelligentNative7 күн бұрын
More than a boatload of us are making a boatload of money in sportsbetting, would love your thoughts beyond publication 529. Aloha from Maui
@aR0ttenBANANA6 күн бұрын
As someone who spends like 200 on a cut I kinda would’ve liked this to be real 😢
@andyc89808 күн бұрын
What if I make a video about
@jogmas125 күн бұрын
Can a new car be written off for a 1099 worker?
@martinlutherkingjr.55826 күн бұрын
Can you talk about the crypto safe harbor and any relief announcements the IRS has made? It’s a complete mess.
@normanjr48 күн бұрын
What if you hire a part time hairdresser to cut your hair and do some admin work?
@fzigunov7 күн бұрын
This is hilarious! I'd love to hear her take on that!
@g300velasco6 күн бұрын
in spanish please i need to understand both sides of this lecture. happy new year🎉
@JB12JB7 күн бұрын
Can a bald person deduct their trip to Turkey and hair plant procedure? Let's say he is a content creator and the face of the business.
@07trapp7 күн бұрын
I certainly don't want to look like an unkept zoo animal or a hairy person that hasn't had a trim in a long time ! Jasmine 😮
@julianmemento12 сағат бұрын
It’s honestly not even a valid take that grooming isn’t deductible when it IS. Keeping ourselves up kept for clients is so important.
@SpitefulAZ4 күн бұрын
how is it possible to get the wrong answer from a professional? 😮
@HerestheT6 күн бұрын
So if I usually look like a hippy with long hair that’s not colored or cut but my employer tells me to cut it short and bleach it blond like a Hillary Clinton cit so I look more corporate would that suffice to meet the “pink spikes clown” example?
@MoetheCPA7 күн бұрын
The entire topic of haircut deductions is just social media spam because even if you can say it's deductible. How much can you really save in taxes with all your 12-25 yearly cuts? So your spending so much time trying to get a 500-1000 deduction to save what ? 370 bucks? It's just content for influencers because those who troll media don't really get excited about Defined Benefit plans or don't make enough money to ever do real legit strategy 😂
@danielfeenberg80948 күн бұрын
I think Jasmine is missing the actual point of "influencers" statements. It isn't that the deduction would survive an audit, but that audits are rare, and this silly claim is probably sufficient to keep the taxpayer out of jail for making an otherwise fivolous claim. That is characteristic of most tax advice, even from professionals.
@GAFB11227 күн бұрын
It may keep them out of jail BUT if they were audited the nonsense claims will NOT keep them from owing tax, interest and penalties. Furthermore, influencers on social media should NOT be putting out blatantly false information. At the very least, they should have the cajónes to say that what you did and that the claims are nonsense, and the goal / hope is to not get audited. That is basically what you said, lol.
@GAFB11227 күн бұрын
My two cents / my opinion. I am glad a business owner(s) or the self-employed CANNOT write off haircuts and personal grooming. Look people, there are millions of W-2 employees who go to work every day and are subject to dress code and grooming standards and they don't get to write those expenses off against their ordinary income. I've said it before and I'll say it again, being a business owner or self-employed is NOT a license or a free pass to write off everything including the kitchen sink. Business owners and those who are self-employed abuse write offs. If I had the power to re-word the tax code, I would make what is and is not allowed simpler and clearer and I would tighten up business expenses making it far more difficult to abuse write offs. Furthermore, this is why I am happy there are tax audits and tax enforcement, and I would increase both!
@ashadon118 күн бұрын
Al Capone got sent to jail for tax evasion even though he was doing illegal stuff. How can someone doing illegal stuff legally pay taxes?
@KJ-od8wq7 күн бұрын
By recording the income. Al Capone did not record his income.
@petergatto9517 күн бұрын
You’ve never watched Better Call Saul 😃 They would “launder” the money through a “front” - cash intensive businesses like car washes, laundromats, convenience stores, liquor stores, etc. Some (usually not all) of the ill-gotten gains are reported as income by the business which then pays taxes.
@wpockl7 күн бұрын
I would stand outside the party with you😊
@butterfligirl875 күн бұрын
So... Can keep playing this game... What about black people specifically (women) who for decades were told to relax and perm their hair because their natural texture out their head was "not appropriate". I mean now we have the "crown act" but before that those salon visits are not a simple haircut nor are cheap plus they are permentantly changing someone hair type for work. Would it count then?
@texasowl53568 күн бұрын
I’m bald… so I write off the razors…
@gregnikolopoulos31753 күн бұрын
You are amazing...!!!!
@ceuser35555 күн бұрын
Write off my tax prep fees
@billyboy9698 сағат бұрын
Those judges are acting a if they are part of a RICO - not impartial.
@magdyelsayed97258 күн бұрын
👍👌
@billyboy9697 сағат бұрын
Grooming is personal when it IS personal , not when it's not!
@ASAPRocky6193 күн бұрын
Wear a belt it’ll bring your look together.
@daniel-ruiz8 күн бұрын
"because you're in the business of being a clown," hmmmm... nice example
@RRW35916 сағат бұрын
So they could have told employers to be less anal about appearance since they admitted it doesn't effect their job performance but instead they just said it's fine since everyone requires it?