Congress Passes Long-Awaited Tax Relief for Salons
After decades of being left behind, salons, spas and barbershops will now benefit from long-awaited tax relief. Congress has officially passed the 45B FICA Tip Tax Credit, finally providing tax fairness for salon, spa and barbershop owners by allowing employers a dollar-for-dollar tax credit on the employer portion of FICA taxes on employee tips.
The Professional Beauty Association (PBA) celebrates this moment as a generational victory for the more than 1.3 million professionals who power the beauty industry across the United States. For the first time ever, beauty business employers…
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