TAKE ACTION NOW!
Salons across the country are struggling financially and many will not make it through this crisis. Extending the 45B FICA Tax Tip Credit can provide a lifeline to our small businesses. Salons have been the hardest hit by this pandemic and need funds now to ensure they will remain in business. The beauty industry needs your voice!
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Support the FICA Tax Tip Credit
COVID-19 Update
Due to the enormous impact COVID-19 has had on salon businesses and the inability of many salons to adequately receive or use the Paycheck Protection Program in
a way that would benefit their business, we are proposing Congress provide a lifeline to salons by temporarily extending the Section 45B FICA tax tip credit in H.R. 821.
The Small Business Tax Fairness and Compliance Simplification Act, known commonly in the beauty industry as the FICA Tax Tip Credit, would extend the current 45(b) FICA tax tip credit to salon and spa owners - a credit granted to restaurant owners in
1993 - while providing equality and increased compliance for America's small businesses in the salon and spa industry.
Like the restaurant industry, salon and spa professionals receive a significant amount of their income through tips, which by law must be reported as income. Beauty industry employers are responsible for paying the 7.65% FICA (Social Security and Medicare) taxes on all employee income, including customer-paid tips. Salon and spa owners do NOT receive any of this tip income yet are required to pay taxes on it.
Take Action Now!
Salons across the country are struggling financially and many will not make it through this crisis. Sign on to the letter below to ask Congress to include a retroactive FICA tax tip credit for salons in the next stimulus package. Salons have been the hardest hit by this pandemic and need funds now to ensure they will remain in business. The beauty industry needs your voice!
FICA DONORS
Bill Sponsors
Darin LaHood (R-IL)
Suzan DelBene (D-WA)
Ben Cardin (D-MD)
Rob Portman (R-OH)
Take Action Now!
Salons across the country are struggling financially and many will not make it through this crisis. Sign on to the letter below to ask Congress to include a retroactive FICA tax tip credit for salons in the next stimulus package. Salons have been the hardest hit by this pandemic and need funds now to ensure they will remain in business. The beauty industry needs your voice!