View Full Version : Camming And Taxes
CurvyWinona
12-13-2013, 09:27 AM
thanks for the tips! :) it is really helpful.
SarahTime
12-26-2013, 03:50 PM
Nevermind, figured it out!
Snowy0Star
01-21-2014, 10:43 PM
when should we start expecting our 1099 from the cam sites to come in the mail? i havent gotten anything from anywhere yet and im starting to worry because i moved and changed my address earlier this month so im wondering if i changed them too late
Melonie
01-22-2014, 04:00 AM
Actually, businesses officially have until the first of February to send out 1099's ... by snail mail. And since there really aren't any penalties for those businesses sending out 1099's late, plus snail mail delivery times ( sometimes to a different country ), it could be around the first of March before all 1099's actually arrive.
SarahTime
01-24-2014, 12:53 PM
when should we start expecting our 1099 from the cam sites to come in the mail? i havent gotten anything from anywhere yet and im starting to worry because i moved and changed my address earlier this month so im wondering if i changed them too late
I went back in my posts from last year, and I posted on Feb 4th that I had received my SM 1099 that day. Probably arrive around the same time this year, I assume.
HollyStJohn
01-30-2014, 07:25 AM
So, I filled out my tax forms using TurboTax Online and due to the same problem we've been having forever (my husband's bday is apparently wrong in SS files and he's been too lazy to go fix it) our return was Rejected so we're gonna have to paper file. Now, TurboTax makes you pay before you can print directly from the website, but you can also just download the return in PDF form... and I'm wondering if I need to go and print out the forms from the IRS website and fill them out or if I can just print out this already filled out PDF file that has all the forms exactly as they're shown on the websites. Seems like it'd be way easier, but it makes me wonder why they make you pay to print, but not download this PDF file? o_O
Cam_Model_Jess
01-30-2014, 09:50 AM
Print the PDF files if you can. The source of the document shouldn't matter. The IRS website PDFs (the last time I checked) are read-only, meaning you can pull them up from the IRS site but you have to print them blank first, then write in your info. If Turbo Tax will allow you to print your return, print it then paper file that.
Cam_Model_Jess
01-30-2014, 10:01 AM
I received my SM 1099, so all the US ladies should be getting theirs very soon.
SarahTime
01-30-2014, 01:18 PM
I received my SM 1099, so all the US ladies should be getting theirs very soon.
Got mine today too!
Melonie
01-31-2014, 04:24 AM
So, I filled out my tax forms using TurboTax Online and due to the same problem we've been having forever (my husband's bday is apparently wrong in SS files and he's been too lazy to go fix it) our return was Rejected so we're gonna have to paper file.
I would point out that, while the IRS will still accept paper filed federal tax returns this year, many individual states now mandate that their state tax returns be filed electronically and will NOT accept paper filings. Thus if your state levees an income tax, a paper filing work-around to your IRS ID problem may NOT be similarly available.
I would also point out that, when it comes time to file next year's tax return, ACA related income verification versus health insurance premium subsidy eligibility ( or IRS penalty assessment for not buying health insurance ) is going to automatically link to data reported on this year's tax return. As such, if there is an uncorrected ID problem, that ID problem is going to create NEW and BIGGER problems in the future. I highly recommend doing whatever is necessary to fix your ID problem with the IRS first, BEFORE electronically filing this year's federal tax return.
HollyStJohn
01-31-2014, 07:24 AM
I highly recommend doing whatever is necessary to fix your ID problem with the IRS first, BEFORE electronically filing this year's federal tax return.
I'm trying to figure out what can be done, since the SS office is only open when my hubby's at work, which makes this far more difficult than it needs to be. *sigh*
Melonie
01-31-2014, 09:01 AM
^^^ did you try calling the IRS help line ? The IRS has direct access to Social Security records / files.
HollyStJohn
01-31-2014, 10:04 AM
Can I do it on my husband's behalf?
Melonie
01-31-2014, 10:26 AM
^^^ won't hurt to try ... assuming that you file a joint tax return there shouldn't be any problem on the IRS end !
HollyStJohn
01-31-2014, 10:47 AM
Omg, why do they make it so difficult to get ahold of a live representative?!?!? I've heard 'Thank you for calling the Internal Revenue Service. Goodbye.' like ten times now! @
[email protected] It's like a maze and I keep hitting all the dead ends. >_<
Nocturnelle
01-31-2014, 09:19 PM
God I feel like an idiot trying to file taxes for the first time ever. I have no idea what I'm doing but can't afford to take it somewhere. With streamate, we receive a 1099, NOT a W-2 so we file as self employed right? But it asks for the business name.. I don't know whether to put self employed or streamates name.
I'm so lost.
HollyStJohn
01-31-2014, 10:18 PM
http://www.wecamgirls.com/articles/us-tax-guide-for-cam-models/
Can I leave this here? Is that okay? I mean, if it isn't, remove it and wotnot, but I found it suuuuper useful while filing and I'm sure someone else will, too.
Melonie
02-01-2014, 01:11 AM
God I feel like an idiot trying to file taxes for the first time ever. I have no idea what I'm doing but can't afford to take it somewhere. With streamate, we receive a 1099, NOT a W-2 so we file as self employed right? But it asks for the business name.. I don't know whether to put self employed or streamates name. I'm so lost.
A very good place to start is at the link that HollyStJohn provided above. Then you might read the earlier posts made in this very thread !!! After that, cruise over to the Dollar Den section where you'll find lots of threads discussing different aspects of dancer / camgirl taxes in detail.
ashley jane
02-03-2014, 03:31 PM
found my answer.
takiaya
02-04-2014, 02:28 AM
Anyone know if cam4 sends out 1099's or do I need to print the info off of payoneers website? I think it's the only one of mine that hasn't arrived yet.
Melonie
02-04-2014, 04:06 AM
Again, with a 'soft' deadline of Feb 1st for payers to send out 1099's ... plus additional time for 'snail mail' delivery ... it's entirely possible that the last 1099's may not show up in your mailbox until March.
Attempting to list 3rd party payment information on the assumption that the amounts shown will be exactly the same as the amounts listed on 1099's involves risk. Just my personal opinion, but I always waited until March before finalizing my tax return. Filing earlier based on 3rd party financial info may force the subsequent filing of an amended tax return if a 'late' 1099 arrives which disagrees with the 3rd party amounts previously reported.
SoloDesire
02-04-2014, 10:31 AM
I have a question. This is my first year camming full time. When I file my taxes and I find out what I owe how will I go about paying the IRS all that I owe them? Will I be able to make payments over time (because I don't have the money set back anymore...had to use my savings for emergencies). Will I be fined because I can't pay it back all at once? I'm really nervous...I figure I will have about $5,000 to pay.
Melonie
02-04-2014, 11:42 AM
^^^ As of April 15th, you'll wind up owing the IRS ...
- the difference between the Social Security taxes and income taxes owed on money you earned during 2013, and the amount of total quarterly estimated tax payments you made to the IRS in April, June and Sept of 2013 plus January of 2014
- quarterly estimated taxes due on the amount of money you earned between January 1 and April 1 of 2014.
If 2013 was your first year in the camming business, then there is a 'first year of operation' exemption from under-withholding penalties and interest charges. However, 2014 is your second year of operations, thus making you subject to underwithholding penalty charges if you fail to file an estimated tax voucher and fail to pay at least 90% of the actual taxes due on your January 1st 14 through April 1st 14 camming earnings.
Also, in both the case of 2013 year end taxes due as well as 1Q 2014 estimated taxes due, if the money isn't paid by the April 15th deadline the IRS will start tacking on interest charges ... which currently run about 7%. The IRS offers an automatic filing for a monthly payment plan for 2013 end of year taxes - see - but this monthly payment plan involves both up-front setup fees, as well as embedded interest charges.
Also, be aware that the IRS can be a real 'prick' if you fail to live up to the terms of the monthly payment agreement ... including failure to make one of the 2013 tax monthly payments on time, PLUS failure to make 2014 quarterly estimated tax payment on time. If you default on a monthly payment agreement, the IRS can then void the agreement and start 'recovering' their unpaid tax money via such methods as seizing your bank account balances ( including seizing future incoming funds transfers from webcam hosts the millisecond the funds hit your bank account ), placing a lien on your car title, etc.
Usually the IRS won't bother to start seizing assets unless the amount of back taxes owed is significantly more than $10,000 ... but they could. Also, there are new regulations now in place that, for example, allow US Customs to prevent American citizens owing significant amounts of back taxes from travelling outside the USA, etc. And states are beginning to enact similar new regulations, such as refusing to renew driver's licenses for state residents who owe a significant amount of back state income taxes etc.
As such, it is usually less expensive, and less 'risky', to use a credit card to pay taxes by the April 15th due date versus entering into an IRS settlement agreement with monthly payments.
Consider the math involved here ... assuming that you are earning, say, $500 a week on the average
- if you owe $5,000 in 2013 taxes, and haven't made any 2013 estimated tax payments, the standard 1 year settlement agreement will probably boil down to the original $5,000 plus $350 in interest charges plus $140 in setup fees = about $ 450 per month, to cover 2013 'back' taxes
- on top of this, you must also pay about $5000 / 4 = $1250 for every 2014 quarterly estimated tax payment. That translates into another $420 per month
- thus, out of the $500 per week = ~$2000 per month you will be earning in 2014, the first $450 + $420 = $870 will have to go to the IRS !!! Sometimes the IRS will allow longer repayment periods with smaller monthly payment amounts, but the amount of interest charged will increase in direct proportion to the length of the payment period.
Also, entering into an IRS settlement agreement with monthly payments is treated by financial institutions as if it were a de-facto reduction in income ... because the IRS takes priority over any other creditors in a future bankruptcy scenario. Also, needing to enter into an IRS settlement agreement is also considered to be evidence of 'financial irresponsibility' by prospective future lenders.
SoloDesire
02-04-2014, 12:27 PM
Thanks for the info....not what I wanted to hear though :(
Melonie
02-04-2014, 12:33 PM
Thanks for the info....not what I wanted to hear though
^^^ I hear that !!! I decided to move 'way south of the border' for more reasons than just the weather !!!
SarahTime
02-04-2014, 02:01 PM
Do IRS settlements/monthly payments show up on your credit report?
Aurora14
02-04-2014, 02:17 PM
I have a question. This is my first year camming full time. When I file my taxes and I find out what I owe how will I go about paying the IRS all that I owe them? Will I be able to make payments over time (because I don't have the money set back anymore...had to use my savings for emergencies). Will I be fined because I can't pay it back all at once? I'm really nervous...I figure I will have about $5,000 to pay.
from the irs website: http://www.irs.gov/Individuals/Payment-Plans,-Installment-Agreements
You can make monthly payments through an installment agreement if you're not financially able to pay your tax debt immediately. However, you will reduce or eliminate the amount of penalties and interest you pay and avoid the fee associated with setting up an installment agreement if you pay your tax bill in full. Before you apply:
File all required tax returns;
Consider other sources (loan or credit card) to pay your tax debt in full to save money;
Determine the largest monthly payment you can make; and
Know that your future refunds will be applied to your tax debt until it is paid in full.
Fees for setting up an installment agreement:
$52 for a direct debit agreement;
$120 for a standard agreement or payroll deduction agreement; or
$43 if your income is below a certain level.
Apply for an installment agreement
Apply online if you owe $50,000 or less in combined individual income tax, penalties and interest;
Call the phone number on your bill or notice;
Complete and mail Form 9465, Installment Agreement Request (PDF). If you owe more than $50,000, you will also need to complete Form 433-F, Collection Information Statement (PDF).
Understand your agreement, avoid default
To keep your account in good standing:
Pay at least your minimum monthly payment when it's due (direct debit or payroll deductions make this easy);
Include your name, address, SSN, daytime phone number, tax year and return type on your payment;
File all required tax returns on time;
Pay all taxes you owe in full and on time (contact us to change your existing agreement if you cannot);
Continue to make all scheduled payments even if we apply your refund to your account balance; and
Ensure your statement is sent to the correct address, contact us if you move or complete and mail Form 8822, Change of Address (PDF).
If you don't receive your statement, send your payment to the address listed in your agreement.
There may be a reinstatement fee if your agreement goes into default. Penalties and interest continue to accrue until your balance is paid in full. If you are in danger of defaulting on your payment agreement for any reason, contact the IRS immediately. The IRS will generally not take enforced collection actions:
When an installment agreement is being considered;
While an agreement is in effect;
For 30 days after a request is rejected, or
During the period the IRS evaluates an appeal of a rejected or terminated agreement.
<< Make a Payment
Get Help
Online Payment Agreement (instructional video)
Understand Your IRS Notice
Understand IRS Collection (videos)
Download a Form
Icon of cover of printed Publication 594 Pub. 594: IRS Collection Process
Explains the actions IRS may take to recover taxes owed. Download Pub. 594 (PDF)
Page Last Reviewed or Updated: 14-Jan-2014
Aurora14
02-04-2014, 02:33 PM
Do IRS settlements/monthly payments show up on your credit report?
Settlements: http://www.uwsa.com/will-irs-tax-settlements-affect-my-credit.html
If you are negotiating an Internal Revenue Service (IRS) tax settlement, you may be concerned about the affect on your credit rating. As with any debt settlement, tax settlements do not reflect well in your credit report but are far better than having unpaid, past due debt, in this case back taxes.
As part of its collection process, the IRS might place a federal tax lien on your personal property which could appear in your credit report and damage your credit rating. A tax lien is a claim against your home, business, income, automobiles or any other property you own that gives the IRS priority over all other creditors.
Act Quickly
The faster you can reach an IRS tax settlement, the less damage your credit report may suffer. It's far better to be paying down back taxes in a payment plan than to have the IRS announce a tax lien or impose a levy and start selling off what your assets.
When you receive correspondence from the IRS about back taxes, reply promptly either yourself or working with a tax adviser. If you delay or don't respond, the IRS may believe you are trying to avoid paying and be less inclined to give you a better settlement or any settlement down the road.
If you know you can't pay your bill, you don't have to wait for the IRS to contact you, you can write to the IRS. Again, the fast correspondence can work in your favor when it comes to deciding the terms of any tax settlement.
Using a Loan
While care must be taken whenever you take on new debt, you and your tax adviser may find that you can get a loan and use the proceeds to pay off your taxes. This option can work if the loan's monthly payments and interest are less than what you would pay (or are currently paying) in penalties and interest to the IRS.
Every individual's tax and financial situation is different. You should consult with a qualified, professional tax adviser and financial adviser before making any decisions
Will my unpaid taxes appear on my credit report? http://www.freescore.com/upaid-taxes-and-credit-report.aspx
Will your unpaid taxes appear on your credit report? Yes, but let's look at the big picture first.
Unpaid taxes and the tax gap
Every year approximately $385 billion dollars, or 15% of the total amount due in federal taxes, remains unpaid. Given the current economic climate, the government is making renewed efforts to close this "tax gap." With these efforts comes an increased chance that your taxes may be audited.
The majority of unpaid taxes results from underreported income. If you find yourself being audited, chances are you'll be faced with a tax bill higher than you expected.
The increased likelihood of being audited, combined with the increasing pressures on household finances is leaving many middle class Americans in a position they have never been in before - being unable to pay their taxes. Falling behind on your taxes remains a taboo subject, but it can happen for a number of reasons, including:
Losing your job
Your employer going out of business
Changes in family circumstances
Sticking your head in the sand may be appealing, but it is better to let the IRS know of your situation sooner rather than later. There may even be some IRS programs available to help.
Even without an audit, if you suspect your tax bill to be higher than you can afford, it is still important to file your taxes on time. Filing your taxes late can result in interest charges. Failure to pay your taxes can result in expensive penalties which could progress to tax liens for amounts that remain unpaid. Failure to file at all could be construed as tax evasion and result in a judicial sentence.
Showing unpaid taxes on your credit report
Unpaid taxes appear on your credit report in two ways:
As a repayment agreement with the IRS
As a tax lien
In the first scenario let's assume you can meet some of you tax obligation, but not all in one payment. In this situation you could enter in to a repayment agreement with the IRS. This will show on your credit report in the same way as any other loan and will include the total outstanding, the monthly repayments and the payment terms. This will change your debt-credit ratio which in turn could impact your credit score.
Your credit score affects your ability to access financing, as well as the rates at which credit is available to you. Regardless of your tax situation, it is a good idea to obtain a copy of your credit score at least once a year and check the accuracy of the data held on you.
Tax liens and your credit report
Being behind with the tax man can have serious consequences. If your taxes remain unpaid you may find yourself the subject of a tax lien - where the federal or state government asserts its right to your home or car to secure payment of the tax debt owed.
Ultimately the asset attached to the lien can be seized and, if this happens to your home, you will be left with the mortgage debt, even though you no longer own the property. A tax lien will show on your credit report for seven years, the same length of time as bankruptcy. So not only are the consequences severe, but they can be long lasting also.
On a more positive note, tax lien guidelines have recently changed. If you are able to pay off the outstanding tax debt, you can ask the IRS for a Certificate of Withdrawal. When this certificate is presented to the three credit bureaus (TransUnion, Experian and Equifax) they are legally required to remove details of the tax lien from your credit report. Checking your credit score allows you to confirm that the tax liens have indeed been removed.
Melonie
02-04-2014, 02:34 PM
Do IRS settlements/monthly payments show up on your credit report?
Absolutely ! I'll try to put this in simpler terms than the 'official' answer above.
From a 'cash flow' standpoint, owing an ( example ) $450 per month payment to the IRS against $5,000 worth of unpaid 2013 taxes is no different than having taken out a $5,000 unsecured loan. The person's 'debt to income' ratio will be negatively affected, thus their credit rating will be lowered.
From a 'lender risk' standpoint, having an IRS settlement agreement with monthly payments in effect is viewed as a 'toxic' situation that is even worse than an outstanding loan from a bank. The reason of course is that, in the event of a default on a home mortgage, car loan, consumer loan etc., the IRS is in a position to seize or place liens on said home, car, consumer goods etc. ... thus preventing the lender from recovering their 'secured property' via foreclosure or repo. Along the same lines, the IRS has absolute priority versus banks and other lenders where bankruptcy is involved ... since the IRS does not require the 'formality' of a bankruptcy / foreclosure / repo proceeding to take 'recovery' actions unilaterally ... thus leaving banks and other lenders 'out in the cold' on ( partially ) recovering money owed them until the IRS has first recovered 100% of the back tax money owed.
As such, if an IRS settlement agreement with monthly payments is in effect, there is near zero chance that a bank or other lender will approve a new mortgage, car loan, consumer loan etc. regardless of the person's income level, debt to income ratio etc. because the bank or other lender has no assurance that they can actually recover their 'secured property' in the event of a borrower default. And even for unsecured loans ( apartment lease, credit card ) ... the bank or other lender has no assurance that the borrower's income needed to make monthly payments on THEIR 'loans' won't first be seized / garnished by the IRS, etc.
Also, banks and other lenders tend to view a person having no choice but to enter into an IRS settlement agreement with monthly payments as exhibiting the worst kind of evidence of 'financial irresponsibility'. If that person won't / can't pay their taxes ( when facing the most 'draconian' recovery efforts for non-payment ), what are the odds that they CAN / WILL pay their mortgage / lease, auto loan, consumer loan, credit card, etc. where the recovery efforts are far more limited ?
The 'official' advice given above to try and use a credit card, sell off assets, or do ANYTHING to try and avoid entering into an IRS settlement agreement with monthly payments was NOT based solely on dollar savings versus IRS penalty and interest charges !!!
ZafinaX
02-05-2014, 03:54 AM
I'm so sorry if my question has been answered already but I feel like I have somewhat of a unique situation. I've tried to read every page word for word butit strated getting way too time consuming.
So, I live with my parents, I'm 19, with no kids, I cam at home, but I've read that if I file taxes that my parents will find out because I'm still dependent on them. I want to try to learn to do taxes on my own and pay everything without my parents knowing what it is I actually do. I have an appointment with my tax lady tomorrow because I am extremely tax illiterate. But I'm afraid if I tell her what I need help with, she might just end up telling my parents what I do, since she's been helping my parents for years. If I have to tell my parents what I do for a living in order to get my taxes done, what should I tell them? Or if there is a way I can pay my taxes without them knowing what I do? If this has already been answered, I am so sorry.
Melonie
02-05-2014, 04:19 AM
^^^ the key question where a 'dependent' daughter is concerned is that the IRS imposes a '51% support' test whether or not the daughter can be legitimately claimed as a dependent by the parents. This determination obviously requires that both the parents and the daughter's tax returns are consistent, and it essentially requires that the parents know how much money the daughter actually earned. And this is doubly the case when the daughter is college student, since the parents filing of a FAFSA student loan / grant application requires that 'total household income' ... i.e. the parents' income plus the daughter's income ... be reported.
However, there is no specific requirement that the parents know what TYPE of work the daughter is involved in, just the total amount of money she earned. So if the parents and the daughter use the same tax preparer, and the tax preparer can be trusted to remain 100% confidential ...
I would also add that being able to claim a dependent typically means a $3,000-$5,000 'savings' in taxes due. If the daughter cannot claim herself as a dependent on her own tax return, her tax liability increases by $3-5,000 while the parents' tax bill goes down by $3-5,000. If the daughter can ( or must ... due to the 51% support test ) claim herself as a dependent, then her tax liability decreases by $3-5,000 while the parents' tax bill goes up by $3-5,000. The latter situation often comes as a huge unwelcome surprise to the parents, who instead of receiving a tax refund must pony up $2-3-4,000 to PAY additional taxes.
Obviously, if the parents' income is $100k+ per year, and the daughter's income is <$10k per year, there will be no question about dependent status. However, if the parents' income is $50k per year, while the daughter's income is $25k+ per year, dependent status could definitely fall into question because the 'numbers' indicate that the parents didn't have sufficient income available to have provided 51% of the daughter's total 'support' while also 'supporting' themselves. This latter situation often comes as a huge unwelcome surprise to the camgirl daughter, who finds that instead of owing 20-30% of her camming earnings to taxes, actually owes 25-35% because her parents can claim the $3-5,000 'cash value' of her exemption.
ZafinaX
02-05-2014, 04:36 AM
Thanks sooooo much Melonie! :) If they still ask what I do I can just say online sales or something right? Because if streamate shows up on my payment history, they'll find out what kind of site it is...
Melonie
02-05-2014, 04:41 AM
^^^ Streamates will definitely show up since they filed a 1099 reporting your camming income which links their company name to your name and social security number. And your name and social security number will be included on both your own, and your parents', tax returns. It's up to your tax preparer to keep the 'specifics' of your tax return confidential from your parents.
PS while you're meeting with the tax preparer, be sure to ask about not only filing your 2013 annual tax return, but also filing your first quarter 2014 estimated tax voucher. Both are due by April 15th !!!
ZafinaX
02-05-2014, 05:34 AM
So there's no possible way to hide streamates from my parents period? I guess I'll need to prepare a speech or something lol...Thanks a ton! :)
jess1
02-05-2014, 08:14 AM
Melonie, you are so helpful! I feel like you have an answer for everything :)
Since this thread is about taxes, I have a question for whoever knows the answer. This is my first year ever filing taxes on my own, especially being an independent contractor. How easy is it to pay quarterly taxes? Do I just go to the store, buy TurboTax Home and Business, and let it do the rest? Is it that easy?! Or is it difficult? I'm very intimidated by taxes because I've never done them myself and do not want to get any type of penalty or anything!
I should say I know about the first year exemption with taxes, but I just want to do it right the first time.
Melonie
02-05-2014, 10:23 AM
^^^ if you've got enough cerebral capacity to understand this thread upon first read, you'll have little or no problems with Turbo Tax for Home & Business.
In a nutshell, filing quarterly estimated taxes just boils down to filing a ( less than ) one page IRS estimated tax voucher form ( see ), taking a 'guesstimate' at your quarterly tax liability, and writing the actual check to the IRS. That 'guesstimate' is based on your effective tax rate from the previous year being applied to your actual quarter's total income.
jess1
02-05-2014, 10:49 AM
Alright, thank you Melonie. I think I will get the hang of it once I do it. I just worry a lot thinking that I'm going to mess something up!
anonymous camgirl
02-05-2014, 02:34 PM
I have been using TurboTAx home and business since 2003 .. since i became a camgirl.. and all you do is print out the vouchers to pay the IRS as they suggest.. i have yet to pay.. quarterly taxes cuz i always had tons of deductions with the kids and all so this will be my first year.
Melonie, you are so helpful! I feel like you have an answer for everything :)
Since this thread is about taxes, I have a question for whoever knows the answer. This is my first year ever filing taxes on my own, especially being an independent contractor. How easy is it to pay quarterly taxes? Do I just go to the store, buy TurboTax Home and Business, and let it do the rest? Is it that easy?! Or is it difficult? I'm very intimidated by taxes because I've never done them myself and do not want to get any type of penalty or anything!
I should say I know about the first year exemption with taxes, but I just want to do it right the first time.
jess1
02-05-2014, 02:46 PM
Good to know you've been using TurboTax for so long! Must be a great program to use. Printing out vouchers to pay the IRS seems easy enough. Thanks!
Glamourmilf
02-08-2014, 06:55 PM
Can anyone recommend a tax acct? Mine has gone MIA, probably due to the fact that he's a coward who is hiding from me, due to some unresolved tax payment issues from last year. Thanks.
Snowy0Star
02-10-2014, 05:12 AM
http://www.taxdomme.com/ the tax domme
RaeRae
02-11-2014, 09:52 AM
Oh my god, I love Turbo Tax. Either I sucked at math when I did my mock taxes before i had the exact dollar information, or it found me something I had missed. I had to pay in 800 dollars less than what i thought I would. My dollar estimates were only off by 50 dollars (didn't have the exact amount for a horrible job I only worked for a terrible week until now). Damn this made my day.
i can also recommend the taxdomme. i used here last year for my taxes and plan to use her for every year after.
redridinghood
02-13-2014, 04:57 PM
I know that cam sites don't send out a form to us in the mail unless we made at least $600 through them in a year. I haven't receive any forms from the websites I worked last year because I'm sure I didn't make that much anywhere for the short amount of time I actually cammed. My question is do I need to still get the information about this income for my taxes? And how would I do so since they didn't send me anything, how would I go about getting that? Thanks ladies!
Cam_Model_Jess
02-13-2014, 05:00 PM
YES you need that info from every site. Sign into your account, print out your earnings. If you can't do that, print out bank statements. If you made more than $400 total from all self-employment income, you must claim it... unless you meet the other requirements listed on the IRS website. But... you would need to gather all that info first to know what you made.
redridinghood
02-13-2014, 05:09 PM
But...I don't have a 1099 so how can I properly enter the info I need via turbotax? I'm so confused :(
ETA: My totals from the three sites I did last year are $356.70, $567.37, and $12.80
On turbotax it asks if I received a 1099MISC form...and because I didn't receive any I don't know how/what information to enter. Or where to find the relevant info about the websites..
Cam_Model_Jess
02-13-2014, 05:14 PM
I don't use TurboTax so I couldn't tell you. Have you gotten to that part yet?
The sites are not required to issue a 1099 so there must be a way around that. The only information you need (if you're required to use 1099s) is the company name, EIN, and amount paid. Which camsites do you need an EIN for?
When I file my taxes, I don't file 1099s or give company information.
redridinghood
02-13-2014, 05:17 PM
I need Myfreecams, Mongocams, and Cam4's info. I'm on the part where it asks if I have any of those forms, when I click no it moves on like there's no information i need to enter, but since i know i need to report it I went back and clicked yes and then it wants me to enter the information from the form which looks like this:
"Who Paid You?
Payer's Employer ID No.
(Format 00-0000000) Or Payer's Soc. Sec. No.
(Format 000-00-0000)
Boxes 1-15b
1 - Rents
2 - Royalties
3 - Other Income 4 - Federal Tax Withheld
5 - Fishing Boat Proceeds 6 - Medical Payments
7 - Nonemployee Comp 8 - Substitute Payments
9 - N/A 10 - Crop Insurance
11 - N/A Why N/A? 12 - N/A Why N/A?
13 - Golden Parachute Pmts 14 - Gross Attorney's Fees
15a - Section 409A Deferrals 15b - Section 409A Income "
Cam_Model_Jess
02-13-2014, 05:24 PM
https://ttlc.intuit.com/questions/1928046-where-do-i-enter-my-self-employment-income
https://ttlc.intuit.com/questions/1930353-i-didn-t-get-a-1099-misc
https://ttlc.intuit.com/questions/1919851-do-i-report-1099-misc-under-600
https://ttlc.intuit.com/questions/1920872-how-do-i-report-miscellaneous-income-without-a-1099-misc-or-w-2
Make sure to read the comment too.
Hopefully one of those will work?
redridinghood
02-13-2014, 05:33 PM
From what I can tell...somehow I need to find out the EIN and other information from these companies AND pay to use the business version of the tax preparation which costs nearly $70. I made less than $3000 total last year period so this is really frustrating to figure out. I'm poor as hell and I can't even imagine paying $70 right now to file taxes. :( Thanks for your help though lady!