I am always humbled when an editor contacts me for assistance with an article. I was honored to have TWO articles published in last month's Nails Magazine. Please check them out~
Ready, Set, File: http://www.nailsmag.com/article/91830/ready-set-file
Financing the Dream: http://www.nailsmag.com/article/91810/financing-the-dream
Wednesday, April 6, 2011
Tuesday, April 5, 2011
WALL STREET JOURNAL SAYS MORE GOVERNMENT WORKERS THAN OTHERS -- COMBINED
OPINION: 'More Americans in gov't than in manufacturing, farming, fishing, forestry, mining and utilities -- combined' (Wall Street Journal) -- In an op-ed posted at WSJ.com, Stephen Moore writes: "Today in America there are nearly twice as many people working for the government (22.5 million) than in all of manufacturing (11.5 million). This is an almost exact reversal of the situation in 1960, when there were 15 million workers in manufacturing and 8.7 million collecting a paycheck from the government." He adds that "more Americans work for the government than work in construction, farming, fishing, forestry, manufacturing, mining and utilities combined." http://app.expressemailmarketing.com/get.link?linkid=2756351&subscriberid=143772548&campaignid=740151&linkurl=http%3a%2f%2fonline.wsj.com%2farticle%2fSB10001424052748704050204576219073867182108.html
Monday, April 4, 2011
QUESTION ON FAST DEPRECIATION
Q. I sat in on your class at ISSE Midwest in Chicago. I just opened my own salon back in November and got lucky enough to be able to start with mostly used equipment. In your class you made mention to the fact that in 2011 you can write off all equipment purchases in full. I was wondering if you would mind giving me a little more info about it and if there is a certain way I have to go about it. I was also curious about what your firm charges for your tax preparation services. Right now it's just me in the salon and I'm currently using a CPA that does know a little about the business I would love to use someone like Kopsa Otte that deals strictly with salons so that I can ensure I get the best service. Thanks in advance.
A. Good luck on your new business. Owning your own business can be very rewarding but also can be very frustrating at times. In response to your question, normally equipment is written off over 5 to 7 years based on some percentages laid out by the IRS. This is what is normally referred to as “depreciation’ or “MACRS.” MACRS is IRS terminology short for Modified Accelerated Cost Recovery System. As an alternative to deducting the cost over 5 to 7 years you can elect to chose what is called the “expensing election” or technically the Code Section 179 deduction (§179). The §179 of the law says you can expense up to $500,000 of “tangible personal property,” new or used (other than certain automobiles). You can choose the amount that you want to expense. You do not have to expense the entire amount. The equipment can be new or used and still qualify. Warning, your first-year expensing deduction for an activity can’t exceed your taxable net income from the activity. This amount can be expanded by including certain W-2 or other earned income. This gets a little technical and I would need to look at your particular circumstances to determine if you could deduct more than the income from the salon. I also want to mention that if you elect §179 that if you can’t claim all this year you can carry over the unused portion to the next year. Taking fast depreciation depends on your circumstances. It is not an automatic that we advise fast deprecation. Again I would have to look at your situation to give proper advice to you. Amanda of my office will be in touch with you about our tax and other services.
A. Good luck on your new business. Owning your own business can be very rewarding but also can be very frustrating at times. In response to your question, normally equipment is written off over 5 to 7 years based on some percentages laid out by the IRS. This is what is normally referred to as “depreciation’ or “MACRS.” MACRS is IRS terminology short for Modified Accelerated Cost Recovery System. As an alternative to deducting the cost over 5 to 7 years you can elect to chose what is called the “expensing election” or technically the Code Section 179 deduction (§179). The §179 of the law says you can expense up to $500,000 of “tangible personal property,” new or used (other than certain automobiles). You can choose the amount that you want to expense. You do not have to expense the entire amount. The equipment can be new or used and still qualify. Warning, your first-year expensing deduction for an activity can’t exceed your taxable net income from the activity. This amount can be expanded by including certain W-2 or other earned income. This gets a little technical and I would need to look at your particular circumstances to determine if you could deduct more than the income from the salon. I also want to mention that if you elect §179 that if you can’t claim all this year you can carry over the unused portion to the next year. Taking fast depreciation depends on your circumstances. It is not an automatic that we advise fast deprecation. Again I would have to look at your situation to give proper advice to you. Amanda of my office will be in touch with you about our tax and other services.
Sunday, April 3, 2011
I'M FREAKING OUT... APRIL 15TH IS AROUND THE CORNER AND I CAN'T PAY.
With April 15th (actually the 18th this year) bearing down on us, some people don't have the cash to pay their tax. Here is what we advise.
First and most importantly, don't let your inability to pay your tax liability in full keep you from filing your tax return properly and on time. It is also important to remember that an extension of time to file your tax return doesn't also extend the time to pay your tax bill.
Even if you can't make full payment of your liabilities, timely filing your return and making the largest partial payment you can will save you substantial amounts in interest and penalties. Additionally, there are procedures for requesting payment extensions and installment payment arrangements which will keep the IRS from instituting its collection process (liens, property seizures, etc.) against you.
Overview of the most common penalties.
The “failure to file” penalty accrues at the rate of 5% per month or part of a month (to a maximum of 25%, reached after five months) on the amount of tax your return should show you owe.
The “failure to pay” penalty is gentler, accruing at the rate of only 0.5% per month or part of a month (to a maximum of 25%, reached after fifty months) on the amount actually shown as due on the return.
If both apply, the failure to file penalty drops to 4.5% per month, so the total combined penalty remains at 5%—thus, the maximum combined penalty for the first five months is 25%. Thereafter, the failure to pay penalty can continue at 0.5% per month for 45 more months, yielding an additional 22.5%. In total, these combined penalties can reach 47.5% of your unpaid liability in less than five years.
Both of these penalties are in addition to the interest that you will be charged for your late payment. If you also missed estimated tax payments, an additional penalty is tacked on for the period running from each payment's due date until the tax return due date, normally April 15th. This penalty is computed at 3% above the fluctuating federal short-term interest rate for the period.
Borrowing money to pay taxes.
Given the rate at which the above-mentioned penalties and interest accrues, it might be a good idea to borrow money to pay the taxes. In many situations, the rate of interest that you would pay to a family member, or even to a bank, is less overall than that which you would have to pay the IRS.
Note that the interest on a loan to pay taxes is nondeductible personal interest. In contrast, if you can take out a home equity loan (if anyone still has equity left in their home) and use the proceeds to pay off your tax debts, you will probably be paying at a lower rate than with other types of loans, and the interest payments will be deductible even if the loan proceeds aren't used in connection with the house.
Credit cards.
It is relatively quick and easy to use credit cards to pay the income tax bill, whether you file your income tax return by mailing a paper copy or by computer. In addition, three companies (Official Payments Corporation at 888-872-9829, Link2Gov Corporation at 888-729-1040, and RBS WorldPay, Inc. at 888-972-9829) are authorized service providers for purposes of accepting credit card charges from both electronic and paper filers. We do not normally advise the use of credit cards because not only is it likely to be at relatively high interest rates and the interest is not deductible, the service providers typically charge an additional fee based on the amount you are paying.
Installment agreement request.
If you cannot or prefer not to take out a loan, you might be able to defer your tax payments by requesting that the IRS enter into an installment payment agreement with you. This request is made on Form 9465 or by applying for a payment agreement online. There are various options for making your monthly installment agreement payments, including the direct debit and payroll deduction methods, both of which are made automatically and thus reduce the risk of default.
If you file and request a payment agreement online, there are three available payment options: (1) payment in full within 10 days (which saves on interest and penalties); (2) short-term extension of up to 120 days (for which no fee is charged, but additional penalties and interest accrue); or (3) monthly payment plan (which carries a user fee in addition to the continued accrual of penalties and interest).
You can also request an installment agreement on Form 9465, which can be filed along with either an e-filed or paper return. If the liability is under $25,000, you will not be required to submit financial statements. Even if your request to pay in installments is granted, you will be charged interest on any tax not paid by its due date. However, the late payment penalty will be half the usual rate (0.25% instead of 0.5%) if you file your return by the due date (including extensions).
The IRS charges a fee for installment agreements, which will be deducted from your first payment after your request is approved. The fee for entering into an installment agreement is regularly $105, but it is reduced to $52 when the taxpayer pays by way of a direct debit from the taxpayer's bank account. Notwithstanding the method of payment, the fee is $43 if the taxpayer is an eligible low-income taxpayer. There is a $45 fee to restructure or reinstate an established installment agreement that applies regardless of income levels or method of payment.
Note that an installment agreement request can be made after the expiration of a hardship extension period (described below). Additionally, the IRS has the authority to enter into an installment agreement calling for less than full payment of the tax liability over the term of the agreement if it determines that such an agreement will facilitate partial collection of the liability.
The installment agreement may terminate, and all your taxes become due immediately, under certain circumstances (for example, if you stop making payments).
The IRS is required to enter into an installment agreement at your request (a “guaranteed installment agreement”) if the following apply:
• the tax liability is $10,000 or less (not counting interest and penalties);
• within the prior 5 years you have not (i) failed to file returns or pay taxes, or (ii) entered into a previous installment agreement;
• the IRS determines the tax liability cannot be paid in full;
• the installment agreement provides for full payment within 3 years; and
• you agree to comply with the tax laws during the agreement period.
As a matter of policy, the IRS often grants guaranteed installment agreements even if taxpayers are able to fully pay their accounts.
Undue hardship extensions.
You may also qualify for an extension of time to pay if you can show that payment would cause “undue hardship.” An undue hardship extension is applied for with Form 1127, to which you must attach a statement of assets and liabilities as well as an itemized list of receipts and disbursements for the 3 months preceding the tax due date.
If you qualify for an undue hardship extension, you will be given an extra six months to pay the tax shown as due on your tax return. You will avoid the failure to pay penalty, but you will still be charged interest. If the IRS determines a “deficiency” (i.e., that you owe taxes in excess of the amount shown on your return), the undue hardship extension can be as long as 18 months and, in exceptional cases, another 12 months can be tacked on. However, no extension will be granted if the deficiency was the result of negligence, intentional disregard of the tax rules, or fraud.
To establish undue hardship, it is not enough to show that it would just be inconvenient to pay your tax when due. For example, if you would have to sell property at a “sacrifice” price, you may qualify for an undue hardship extension. However, if a market exists, having to sell property at the current market price is not viewed as resulting in an undue hardship.
To qualify for an extension, you would have to: (i) show that you do not have enough cash and assets convertible into cash in excess of current working capital to meet your tax obligations; (ii) show you cannot borrow the amount needed except on terms that would inflict serious loss and hardship; and (iii) provide security for the tax debt. The determination of the kind of security—such as a bond, filing a notice of lien, mortgage, pledge, deed of trust, personal surety, or other form of security—will depend on the particular circumstances involved. However, no collateral is required if you have no assets.
Avoiding more serious consequences.
Many taxpayers ignore their tax liabilities when they run into financial difficulties—for example, by failing to file their tax returns. However, tax liabilities do not go away if left unaddressed, and failing to deal with the problem often exacerbates it. It is very important that you timely file a properly prepared return, even if full payment cannot be made. Include as large a partial payment as you can with the return, and start working with the IRS on one (or more) of the options discussed above as soon as possible. Otherwise, you may face escalating penalties, the risk of having liens assessed against your assets and income, or even seizure and sale of your property. In many cases, these tax nightmares can be avoided by taking advantage of the arrangements offered by the IRS.
Larry Kopsa CPA
First and most importantly, don't let your inability to pay your tax liability in full keep you from filing your tax return properly and on time. It is also important to remember that an extension of time to file your tax return doesn't also extend the time to pay your tax bill.
Even if you can't make full payment of your liabilities, timely filing your return and making the largest partial payment you can will save you substantial amounts in interest and penalties. Additionally, there are procedures for requesting payment extensions and installment payment arrangements which will keep the IRS from instituting its collection process (liens, property seizures, etc.) against you.
Overview of the most common penalties.
The “failure to file” penalty accrues at the rate of 5% per month or part of a month (to a maximum of 25%, reached after five months) on the amount of tax your return should show you owe.
The “failure to pay” penalty is gentler, accruing at the rate of only 0.5% per month or part of a month (to a maximum of 25%, reached after fifty months) on the amount actually shown as due on the return.
If both apply, the failure to file penalty drops to 4.5% per month, so the total combined penalty remains at 5%—thus, the maximum combined penalty for the first five months is 25%. Thereafter, the failure to pay penalty can continue at 0.5% per month for 45 more months, yielding an additional 22.5%. In total, these combined penalties can reach 47.5% of your unpaid liability in less than five years.
Both of these penalties are in addition to the interest that you will be charged for your late payment. If you also missed estimated tax payments, an additional penalty is tacked on for the period running from each payment's due date until the tax return due date, normally April 15th. This penalty is computed at 3% above the fluctuating federal short-term interest rate for the period.
Borrowing money to pay taxes.
Given the rate at which the above-mentioned penalties and interest accrues, it might be a good idea to borrow money to pay the taxes. In many situations, the rate of interest that you would pay to a family member, or even to a bank, is less overall than that which you would have to pay the IRS.
Note that the interest on a loan to pay taxes is nondeductible personal interest. In contrast, if you can take out a home equity loan (if anyone still has equity left in their home) and use the proceeds to pay off your tax debts, you will probably be paying at a lower rate than with other types of loans, and the interest payments will be deductible even if the loan proceeds aren't used in connection with the house.
Credit cards.
It is relatively quick and easy to use credit cards to pay the income tax bill, whether you file your income tax return by mailing a paper copy or by computer. In addition, three companies (Official Payments Corporation at 888-872-9829, Link2Gov Corporation at 888-729-1040, and RBS WorldPay, Inc. at 888-972-9829) are authorized service providers for purposes of accepting credit card charges from both electronic and paper filers. We do not normally advise the use of credit cards because not only is it likely to be at relatively high interest rates and the interest is not deductible, the service providers typically charge an additional fee based on the amount you are paying.
Installment agreement request.
If you cannot or prefer not to take out a loan, you might be able to defer your tax payments by requesting that the IRS enter into an installment payment agreement with you. This request is made on Form 9465 or by applying for a payment agreement online. There are various options for making your monthly installment agreement payments, including the direct debit and payroll deduction methods, both of which are made automatically and thus reduce the risk of default.
If you file and request a payment agreement online, there are three available payment options: (1) payment in full within 10 days (which saves on interest and penalties); (2) short-term extension of up to 120 days (for which no fee is charged, but additional penalties and interest accrue); or (3) monthly payment plan (which carries a user fee in addition to the continued accrual of penalties and interest).
You can also request an installment agreement on Form 9465, which can be filed along with either an e-filed or paper return. If the liability is under $25,000, you will not be required to submit financial statements. Even if your request to pay in installments is granted, you will be charged interest on any tax not paid by its due date. However, the late payment penalty will be half the usual rate (0.25% instead of 0.5%) if you file your return by the due date (including extensions).
The IRS charges a fee for installment agreements, which will be deducted from your first payment after your request is approved. The fee for entering into an installment agreement is regularly $105, but it is reduced to $52 when the taxpayer pays by way of a direct debit from the taxpayer's bank account. Notwithstanding the method of payment, the fee is $43 if the taxpayer is an eligible low-income taxpayer. There is a $45 fee to restructure or reinstate an established installment agreement that applies regardless of income levels or method of payment.
Note that an installment agreement request can be made after the expiration of a hardship extension period (described below). Additionally, the IRS has the authority to enter into an installment agreement calling for less than full payment of the tax liability over the term of the agreement if it determines that such an agreement will facilitate partial collection of the liability.
The installment agreement may terminate, and all your taxes become due immediately, under certain circumstances (for example, if you stop making payments).
The IRS is required to enter into an installment agreement at your request (a “guaranteed installment agreement”) if the following apply:
• the tax liability is $10,000 or less (not counting interest and penalties);
• within the prior 5 years you have not (i) failed to file returns or pay taxes, or (ii) entered into a previous installment agreement;
• the IRS determines the tax liability cannot be paid in full;
• the installment agreement provides for full payment within 3 years; and
• you agree to comply with the tax laws during the agreement period.
As a matter of policy, the IRS often grants guaranteed installment agreements even if taxpayers are able to fully pay their accounts.
Undue hardship extensions.
You may also qualify for an extension of time to pay if you can show that payment would cause “undue hardship.” An undue hardship extension is applied for with Form 1127, to which you must attach a statement of assets and liabilities as well as an itemized list of receipts and disbursements for the 3 months preceding the tax due date.
If you qualify for an undue hardship extension, you will be given an extra six months to pay the tax shown as due on your tax return. You will avoid the failure to pay penalty, but you will still be charged interest. If the IRS determines a “deficiency” (i.e., that you owe taxes in excess of the amount shown on your return), the undue hardship extension can be as long as 18 months and, in exceptional cases, another 12 months can be tacked on. However, no extension will be granted if the deficiency was the result of negligence, intentional disregard of the tax rules, or fraud.
To establish undue hardship, it is not enough to show that it would just be inconvenient to pay your tax when due. For example, if you would have to sell property at a “sacrifice” price, you may qualify for an undue hardship extension. However, if a market exists, having to sell property at the current market price is not viewed as resulting in an undue hardship.
To qualify for an extension, you would have to: (i) show that you do not have enough cash and assets convertible into cash in excess of current working capital to meet your tax obligations; (ii) show you cannot borrow the amount needed except on terms that would inflict serious loss and hardship; and (iii) provide security for the tax debt. The determination of the kind of security—such as a bond, filing a notice of lien, mortgage, pledge, deed of trust, personal surety, or other form of security—will depend on the particular circumstances involved. However, no collateral is required if you have no assets.
Avoiding more serious consequences.
Many taxpayers ignore their tax liabilities when they run into financial difficulties—for example, by failing to file their tax returns. However, tax liabilities do not go away if left unaddressed, and failing to deal with the problem often exacerbates it. It is very important that you timely file a properly prepared return, even if full payment cannot be made. Include as large a partial payment as you can with the return, and start working with the IRS on one (or more) of the options discussed above as soon as possible. Otherwise, you may face escalating penalties, the risk of having liens assessed against your assets and income, or even seizure and sale of your property. In many cases, these tax nightmares can be avoided by taking advantage of the arrangements offered by the IRS.
Larry Kopsa CPA
Saturday, April 2, 2011
WHERE IS MY REFUND?
I have had a serval people email me asking how to check the status of their tax refund. In case you are wondering, here is information from the IRS website. Take note, "the IRS has an ap for that."
Larry Kopsa CPA
Checking the Status of Your Refund
If you already filed your federal tax return and are due a refund, you have several options to check on your refund. Here are eight things the IRS wants you to know about checking the status of your refund:
1. Online Access to Refund Information Where’s My Refund? are interactive tools on http://www.irs.gov and are the fastest, easiest way to get information about your federal income tax refund. Where’s My Refund? give you online access to your refund information, 24 hours a day, 7 days a week. It’s quick, easy and secure.
2. When to Check Refund Status. If you e-file, you can get refund information 72 hours after the IRS acknowledges receipt of your return. If you file a paper return, refund information will generally be available three to four weeks after mailing your return.
3. What You Need to Check Refund Status. When checking the status of your refund, have your federal tax return handy. To get your personalized refund information you must enter:
• Your Social Security Number or Individual Taxpayer Identification Number
• Your filing status which will be Single, Married Filing Joint Return, Married.
• Filing Separate Return, Head of Household, or Qualifying Widow(er).
• Exact whole dollar refund amount shown on your tax return.
4. What the Online Tool Will Tell You. Once you enter your personal information, you could get several responses, including:
• Acknowledgement that your return was received and is in processing.
• The mailing date or direct deposit date of your refund.
• Notice that the IRS could not deliver your refund due to an incorrect address. In this instance, you may be able to change or correct your address online using Where’s My Refund?
5. Customized Information Where’s My Refund? also includes links to customized information based on your specific situation. The links guide you through the steps to resolve any issues affecting your refund. For example, if you do not get the refund within 28 days from the original IRS mailing date shown on Where’s My Refund?, you may be able to start a refund trace.
6. Toll-free Number. If you do not have internet access, you can check the status of your refund in English or Spanish by calling the IRS Refund Hotline at 800-829-1954 or the IRS TeleTax System at 800-829-4477. When calling, you must provide your or your spouse’s Social Security number, filing status and the exact whole dollar refund amount shown on your return.
7 IRS2Go. This is the IRS’ first smartphone application that lets taxpayers check on the status of their tax refund. Apple users can download the free IRS2Go application by visiting the Apple App Store. Android users can visit the Android Marketplace to download the free IRS2Go app.
Larry Kopsa CPA
Checking the Status of Your Refund
If you already filed your federal tax return and are due a refund, you have several options to check on your refund. Here are eight things the IRS wants you to know about checking the status of your refund:
1. Online Access to Refund Information Where’s My Refund? are interactive tools on http://www.irs.gov and are the fastest, easiest way to get information about your federal income tax refund. Where’s My Refund? give you online access to your refund information, 24 hours a day, 7 days a week. It’s quick, easy and secure.
2. When to Check Refund Status. If you e-file, you can get refund information 72 hours after the IRS acknowledges receipt of your return. If you file a paper return, refund information will generally be available three to four weeks after mailing your return.
3. What You Need to Check Refund Status. When checking the status of your refund, have your federal tax return handy. To get your personalized refund information you must enter:
• Your Social Security Number or Individual Taxpayer Identification Number
• Your filing status which will be Single, Married Filing Joint Return, Married.
• Filing Separate Return, Head of Household, or Qualifying Widow(er).
• Exact whole dollar refund amount shown on your tax return.
4. What the Online Tool Will Tell You. Once you enter your personal information, you could get several responses, including:
• Acknowledgement that your return was received and is in processing.
• The mailing date or direct deposit date of your refund.
• Notice that the IRS could not deliver your refund due to an incorrect address. In this instance, you may be able to change or correct your address online using Where’s My Refund?
5. Customized Information Where’s My Refund? also includes links to customized information based on your specific situation. The links guide you through the steps to resolve any issues affecting your refund. For example, if you do not get the refund within 28 days from the original IRS mailing date shown on Where’s My Refund?, you may be able to start a refund trace.
6. Toll-free Number. If you do not have internet access, you can check the status of your refund in English or Spanish by calling the IRS Refund Hotline at 800-829-1954 or the IRS TeleTax System at 800-829-4477. When calling, you must provide your or your spouse’s Social Security number, filing status and the exact whole dollar refund amount shown on your return.
7 IRS2Go. This is the IRS’ first smartphone application that lets taxpayers check on the status of their tax refund. Apple users can download the free IRS2Go application by visiting the Apple App Store. Android users can visit the Android Marketplace to download the free IRS2Go app.
ENERGY CREDIT ON NEW HOME
Q. My wife and I built a new home in 2010. We moved in on March 24 so we lived in the house for over a year, if that makes any difference. Can we take the residential energy credit for insulation, windows, & doors on our 2010 tax return?
A. I am afraid that we do not have good news. The nonbusiness energy credit is normally claimed on form 5695 however, the type of costs described are restricted to existing homes only. The credit is designed to help offset the cost of retrofitting an existing home with energy saving devices.
However, you put in any of the following devices these devices qualify for a credit for both new and existing houses:
• Qualified solar electric
• Qualified solar water heating
• Qualified small wind power
• Qualified geothermal heat pump
• Qualified fuel cells
Enjoy your new home.
Larry Kopsa CPA
A. I am afraid that we do not have good news. The nonbusiness energy credit is normally claimed on form 5695 however, the type of costs described are restricted to existing homes only. The credit is designed to help offset the cost of retrofitting an existing home with energy saving devices.
However, you put in any of the following devices these devices qualify for a credit for both new and existing houses:
• Qualified solar electric
• Qualified solar water heating
• Qualified small wind power
• Qualified geothermal heat pump
• Qualified fuel cells
Enjoy your new home.
Larry Kopsa CPA
Friday, April 1, 2011
Nanotechnology could provide future for hair coloring, study
I am somewhat of a futurist. I have following nanotechnology for several years. The concept of what can be done with this science to help us not only medically but in every facet of our lives is amazing. Now nanotechnology is coming to the hair industry.
Scientists are looking into hair-coloring techniques of the future, including nano-sized colorants and substances that stimulate the genes to produce melanin pigment that colors hair, according to a study published in the American Chemical Society Journal.
The two scientists, Robert Christie and Olivier Morel, note that hair dye already is a multibillion dollar international industry, poised for even greater expansion in the future due to the graying of a global population yearning to cling to a youthful appearance.
And the scientists say the progress towards this could possibly lie with nano-sized colorants as they are composed of pigments that are 1/5000th the width of human hair, allowing easier penetration, thus remaining trapped for longer, and producing a longer-lasting hair color effect.
Explosion of growth
“The explosive growth in nanotechnologies is certain to continue to attract the interest of hair color chemists, for example, to exploit the potential of photonics to make use of materials that manipulate light to create bright colors without using traditional coloring materials, as one way of addressing potential environmental and toxicological concerns,” notes the study.
The scientists are also developing substances that stimulate the genes to produce the melanin pigment that colors hair. It states these substances promise to produce a wider range of more natural-looking colors, from blond to dark brown and black.
The scientists also say other new technologies may stop graying of the hair or prevent its formation altogether.
Outdated approach to hair dye
The reason for the study is said to be that most permanent hair coloring technology, is based on a 150-year-old approach that uses p-phenylenediamine (PPD), a chemical that produces darker, browner shades when exposed to air.
Concern over the safety of PPD and other hair dye ingredients, and demand for more convenient hair dyeing methods, has fostered an upswing in research on new dyes and alternative hair coloring technologies.
The study is the conclusion of an analysis of almost 500 articles and patents on the chemistry of permanent hair dyeing, which foresees much more innovation in the years ahead, including longer lasting, more-natural-looking dyes and gene therapy to reverse the gray.
Scientists are looking into hair-coloring techniques of the future, including nano-sized colorants and substances that stimulate the genes to produce melanin pigment that colors hair, according to a study published in the American Chemical Society Journal.
The two scientists, Robert Christie and Olivier Morel, note that hair dye already is a multibillion dollar international industry, poised for even greater expansion in the future due to the graying of a global population yearning to cling to a youthful appearance.
And the scientists say the progress towards this could possibly lie with nano-sized colorants as they are composed of pigments that are 1/5000th the width of human hair, allowing easier penetration, thus remaining trapped for longer, and producing a longer-lasting hair color effect.
Explosion of growth
“The explosive growth in nanotechnologies is certain to continue to attract the interest of hair color chemists, for example, to exploit the potential of photonics to make use of materials that manipulate light to create bright colors without using traditional coloring materials, as one way of addressing potential environmental and toxicological concerns,” notes the study.
The scientists are also developing substances that stimulate the genes to produce the melanin pigment that colors hair. It states these substances promise to produce a wider range of more natural-looking colors, from blond to dark brown and black.
The scientists also say other new technologies may stop graying of the hair or prevent its formation altogether.
Outdated approach to hair dye
The reason for the study is said to be that most permanent hair coloring technology, is based on a 150-year-old approach that uses p-phenylenediamine (PPD), a chemical that produces darker, browner shades when exposed to air.
Concern over the safety of PPD and other hair dye ingredients, and demand for more convenient hair dyeing methods, has fostered an upswing in research on new dyes and alternative hair coloring technologies.
The study is the conclusion of an analysis of almost 500 articles and patents on the chemistry of permanent hair dyeing, which foresees much more innovation in the years ahead, including longer lasting, more-natural-looking dyes and gene therapy to reverse the gray.
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