Jason Friedman

Every spring, four longtime groomer friends—Harper, Zoey, Finn and Layla—meet for an annual dinner where talk inevitably shifts from poodles to profits and taxes. Each groomer makes about $100,000 a year in net profit, but each has structured their business differently.

Tax season is here once again, and as a self-employed pet groomer or salon owner, knowing how to protect your income from Uncle Sam is essential to maximizing your profits. Understanding how to properly report your business activity, leverage deductions and take advantage of tax…