View Full Version : Camming And Taxes
I was doing some research for a client and found this site. I'm not a model (by far), but I'm a CPA and thought it was great that there is this tax discussion. Any, I figured that I'd join up to help answer US Tax related questions. Just doing it as a community service, not soliciting for clients.
^^^ at this point, it will be necessary to file both a 1040NR non-resident 2014 annual tax return with an attached Schedule C 'profit or loss from an ( unincorporated ) business' - with associated check, and separately file a 1040ES voucher for first quarter 2015 estimated taxes - with associated separate check. These actually need to be sent to two different IRS addresses.
Depending on the particular US state you resided in, you may also have to file a non-resident 2014 state tax return - with yet another associated check and yet another state tax dep't address, and another state form for first quarter 2015 estimated taxes - with yet another check. This obviously varies widely by state, so you'll have to do a bit of internet searching.
A general discussion of IRS tax filings for US citizens living abroad can be found at . The link info is a few years old at this point, but changes for 2014 are minor ( threshold amounts have been increased ).
On the 'plus' side, if you were outside of US borders for 330 days in 2014, you will qualify for some very nice 'deductions' and 'exclusions' ! Those 'deductions' and 'exclusions' are a major reason that I decided to move 'way south of the border' on a permanent basis !!!
On the 'minus' side, as a resident of the UK in 2014, via the 1040NR tax return the IRS will want to know about both your US based earnings as well as any UK based earnings ... with the US also attempting to collect additional taxes on your UK earnings unless the amount of taxes you paid to HM Revenue and Customs was greater than the amount the IRS wants !
Finally, while there hasn't been any official announcement to this effect, it is rumored that the US IRS and the UK HMRC are now capable of sharing information with each other. For other readers, it HAS been announced that the US and Canada are now sharing financial information with each other via FINTRAC.
To be clear the 1040NR is for Non-Residents. If you are a US citizen, green card holder, and certain visa holders, you don't file the NR regardless of where you live during the year. You file the regular 1040 and might be eligible for the foreign earned income exclusion or tax credit.
I think there is a lot of confusion about estimated taxes on here, so I'd like to provide a run-down:
Say you owe $10,000 in taxes when you file your return. The govt doesn't wants to get their sticky fingers on that money sooner rather than later so they implemented the estimated tax system. Theoretically, they want you to make 4 equal payments of $2,500 so that when you file your return, you won't need to pay anything. Fortunately there are some rules that you can use in determining the amount you actually pay each quarter.
The easiest rules deal with the amount of money owed: simply, if you owe less than $1,000 in tax you aren't required to make estimated payments. Now that could be a gamble because if at the end of the year you owe $1,001 in tax you'll be assessed penalties for not making those estimated payments.
The major rule is called the "Safe Harbor Rule". This rule essentially limits the amount of money that you need to pay in estimated taxes during the year. Instead of trying to forecast your current year's tax obligation, you can simply pay 100% (110% in high income cases) of the prior year's tax less credits. For example, if your 2014 tax is calculated at $1,500 and you received a $1,000 child tax credit, you would owe $500 for 2014. So your minimum estimated tax payments for 2015 are $125 each quarter. So as long as you make those 4 payments on time, it doesn't matter if you owe $1,000,000 when you file your 2015 taxes, you won't be penalized for needing to send in a check for $999,500. Please note that there is no "first year" exclusion for new businesses that report on Schedule C.
Now you might not want to make a big payment to the govt at filing time. If that's the case your best bet is to figure 30% of your profit is going to go to tax. Self employment taxes are 15.3% and if your in the 15% ordinary tax bracket, that's 30%! So if you profit $50k, you'll owe $15,150 at tax time. Take that number and divide by 4 ($3,787) and you'll have your estimated amount. Now you may be thinking "can I figure my profit each quarter and make an estimated payment of 30% of that number"? The answer is maybe. If those payments put you in the safe harbor method then you'll be ok. If not, then you'll owe a penalty for underpayment at the end of the year. This is because the IRS takes the entire amount due at the end of the year and wants it quarterly. So if a couple of those payments were under what they should have been, you'll get a letter in the mail wanting money.
My advice to clients: only pay enough to the govt to be in the safe harbor. Take the rest of the amount you think you might owe and put it in savings. This way at the end of the year you'll most likely have all the money you'll need to pay your taxes and not have to worry about a refund. Instead take the excess in savings and treat yourself! :)
Melonie
05-29-2015, 10:36 AM
^^^ thanks CPA.
To clarify even further, technically speaking a 'self employed' person who starts working on January 1st will owe taxes due on income earned from January 1st through April 1st by an April 15th deadline. With the exception of 'first year in business' and other 'safe harbor' exemptions, if that money isn't paid by the April 15th deadline the IRS will begin to add interest charges. Similarly, taxes owed on money earned from April 1st through June 1st are due by a June 15th deadline. If that money isn't paid by the June 15th deadline the IRS will begin to add interest charges. Similarly, if the money not paid by the April 15th deadline remains unpaid, the IRS will tack on additional interest charges. This repeats for the other two quarters, with deadlines of September 15th and January 15th of the next year. In addition to the interest charges, if no estimated tax payments are made the IRS can also assess an additional 'penalty' charge.
"Employee' estimated taxes are also due to be paid in increments ... usually monthly. However, the 'employee' never has to deal with this because their 'employer' withholds the estimated tax money from every paycheck, and the 'employer' files and pays estimated taxes to the IRS on behalf each 'employee' every month.
Natrona
08-21-2015, 02:40 PM
I've thought about this too- I'm not sure if someone has mentioned this in the thread (haven't read all the replies yet) but I just formed an LLC for tax purposes. I cam on myfreecams and in the fine print it says you can form an LLC if you are registered only as a studio. Of course, initially I registered as a model and so, unfortunately, I'm going to have to sacrifice my model account and start a new studio one...but i'm thinking if you already have a pretty good fan base then it won't matter so much when you switch over as a studio.
Anyways, from what I understand, the idea of having your own LLC (with a separate bank account of course) is that all your income from camming goes in there and then you can write off "work related expenses"....and i suppose that can be defined however you want (outfits, lighting, even business dinners perhaps) and all that money is un-taxed. then when you go to pay yourself through the business then only a percentage of what you end up paying yourself (to go into your own account) is taxed. Somebody clarify me if i'm wrong .....hehe.....my boyfriend is the one that is business savvy and has explained all this to me. Have any of you other girls formed an LLC for your camming "business"? :)
KatyBoleyn
08-23-2015, 08:45 AM
I've thought about this too- I'm not sure if someone has mentioned this in the thread (haven't read all the replies yet) but I just formed an LLC for tax purposes. I cam on myfreecams and in the fine print it says you can form an LLC if you are registered only as a studio. Of course, initially I registered as a model and so, unfortunately, I'm going to have to sacrifice my model account and start a new studio one...but i'm thinking if you already have a pretty good fan base then it won't matter so much when you switch over as a studio.
Anyways, from what I understand, the idea of having your own LLC (with a separate bank account of course) is that all your income from camming goes in there and then you can write off "work related expenses"....and i suppose that can be defined however you want (outfits, lighting, even business dinners perhaps) and all that money is un-taxed. then when you go to pay yourself through the business then only a percentage of what you end up paying yourself (to go into your own account) is taxed. Somebody clarify me if i'm wrong .....hehe.....my boyfriend is the one that is business savvy and has explained all this to me. Have any of you other girls formed an LLC for your camming "business"? :)
I highly recommend you speak with an accountant about that. There is no tax advantage between being a "sole proprietor" and a "one-man LLC". The primary advantage for a model would be an additional layer of privacy when it comes to your state records, and some additional protection for debts and liabilities that could occur as part of your business. If you can get the IRS to ALSO agree to tax you as a corporate entity, then you have some tax relief.
I highly recommend you speak with an accountant about that. There is no tax advantage between being a "sole proprietor" and a "one-man LLC". The primary advantage for a model would be an additional layer of privacy when it comes to your state records, and some additional protection for debts and liabilities that could occur as part of your business. If you can get the IRS to ALSO agree to tax you as a corporate entity, then you have some tax relief.
The IRS doesn't have to agree to tax you as a corp entity if you're a single member LLC, you just tell them to treat you that way. They'll automatically treat you as a sole proprietor otherwise. Also, you want corp treatment you could always just make your business a corp. There can be some hang ups here though so you'd need to talk with your CPA.
JennyCouture
08-30-2015, 03:35 AM
Well honestly your gonna pay taxes on any job and camming "normally" pays better per hour then most jobs.
so, do you want to work 40hrs a week whenever someone else tells you to for shit money and pay the same amount in taxes..
or do you wanna cam make more per hr , work less and pay the same % in taxes....
And honestly if your paying big taxes your making big money to so WIN WIN!
CummingCouple
09-16-2015, 01:02 PM
Considering moving to puerto rico for 183 days to become a technical citizen & pay a 4% tax for services performed out of PR to customers not in PR, but the only place from my understanding that has great internet is Luquillo... It's beautiful but kind of scary with bars on all the windows. Any suggestions for places to live with great internet and low taxes? We don't make that much, but for future reference if we someday do.
diamonrosex
09-20-2015, 04:37 AM
Hey , i am new in this forum:D I am a videochat model working since 5 years ago. I have reached high payouts in this time. I saw this forum and i felt nostalgy:) 5 years ago i was helped to start my bussines and now i am very thankfully. So i tought to help others if i can:) As i am an experienced model,i can give you all the tips and tricks to start your bussines.My skype is diamondrosex ,so feel free to contact me and i will help you as much i can:D please tell meif you find it helpfull.Have a nice day just add me and we keep in touch.Kisses
bbcakezxo
09-23-2015, 01:39 AM
can you write coffee off as a business expense?? LOL
pinklemonade0
09-24-2015, 02:55 AM
Ha ha! I want to write off baby wipes (don't know if you call them that, they're fragrance free little cloths that you can use to wipe things). I buy a lot of them.
Glamourmilf
09-24-2015, 11:45 AM
Ha ha! I want to write off baby wipes (don't know if you call them that, they're fragrance free little cloths that you can use to wipe things). I buy a lot of them.
I've written them off for 5 years, and counting.
thekhaleesi
11-02-2015, 08:53 AM
I never have filed taxes on my cam money. It's "contributions" so basically gifts of money. When I did port however I was sent a tax form. Bang bros is super strict (Doral inc)
Vlodina
11-03-2015, 04:45 AM
I never have filed taxes on my cam money. It's "contributions" so basically gifts of money. When I did port however I was sent a tax form. Bang bros is super strict (Doral inc)
Just like a customer contributes money and gets a Kindle Fire. You can get it a lot lot of trouble and I would always advise paying taxes so that you are doing the right thing and also don't get fined/go to jail. I gather you are on MGF and up to 90%. That's a LOT of unpaid taxes right there...
MissValentinex3
11-04-2015, 11:20 PM
I'm a new model on skyprivate. I understand that I need to pay taxes from a certain amount of income.& YES, I've searched 10000 times on google but I can't seem to find the right answers. My grandpa is an accountant so he does all the paperwork for my taxes. Skyprivate doesnt issue a 1099 form so how is he even getting the taxes I owe? Also, *big question* How would I be able to change the name of skyprivate on the taxes so he doesn't see that I'm camming online? I don't mind he does the taxes, I just dont wan't him seeing that. (I have no access to the taxes at all...only he does.) & lastly, if I'm making money and spending it (on makeup, clothes, rent)...Do I have to keep track of the all the things I buy? I heard that you do...why is that? Does that take any part of taxes?
KatyBoleyn
11-05-2015, 09:34 AM
Income from foreign sources is reported to the IRS by the various payment services. Provisions in the ACA now force every foreign entity that does financial transactions with US citizens (such as banks, e-wallets like PayPal and Google Wallet, Amazon, Payoneer, and Paxum) to report your transactions to them. It takes a while, but their computer will find discrepancies between what you file and what money flowed to you and what money you saved or spent. Note they have 7 years to figure it out, so you may get away with it for 6 years, and on year 7 they can hit you with fines and penalties for the last 7 years. Note that even if you are innocent and file your taxes well, they can still audit you and go fishing...and if your records aren't well-kept you can still get fined.
For SkyPrivate, they have a parent company name that's fairly generic...most companies do. If you cam through us, we do issue a blanket 1099 for SkyPrivate earnings that is our generic company name for internet marketing.
Business expenses are another minefield entirely, and you will need qualified help to navigate that. We do it for our own models, but we're conservative and follow IRS guidelines to the letter. If you go to a CPA, he/she may feel they can get away with a little more and may be willing to sign off on looser interpretations of the housewife test. The key there is to KEEP YOUR RECEIPTS and properly label them. Do not mix non-business purchases on the same receipts to keep them easier to handle. If you don't have a receipt, it didn't happen when it comes to expenses.
So, according to the IRS- the tips are not charitable contributions over a specific amount or just in general?
koryncutie
11-25-2015, 08:02 AM
So I have a question...
Say I made about $17-20k this year from camming and I had been saving %25 from every paycheck. But then a huge life event happened where I had to use every last cent of those taxes savings to not end up homeless and keep the lights on. It's about to be December now and I have nothing to pay my taxes with and I won't for a while. What do I do? I don't even have enough money to pay for a tax person. There is absolutely no way I can cam anymore and the job I just got this week only pays $9 an hour! What would happen if I didn't pay my taxes? I am very anxious and worried that they're going to send me to jail or something for tax evasion. Can I file my taxes with no money to pay them?
pippapippa
11-25-2015, 10:09 AM
So I have a question...
Say I made about $17-20k this year from camming and I had been saving %25 from every paycheck. But then a huge life event happened where I had to use every last cent of those taxes savings to not end up homeless and keep the lights on. It's about to be December now and I have nothing to pay my taxes with and I won't for a while. What do I do? I don't even have enough money to pay for a tax person. There is absolutely no way I can cam anymore and the job I just got this week only pays $9 an hour! What would happen if I didn't pay my taxes? I am very anxious and worried that they're going to send me to jail or something for tax evasion. Can I file my taxes with no money to pay them?
You can set up a payment plan where you pay a portion each month. Yes, you can file taxes without money to pay them.
addytoi
12-03-2015, 08:06 PM
You can set up a payment plan where you pay a portion each month. Yes, you can file taxes without money to pay them.
This is true and it is very important that you file even if you can't pay what you owe in taxes. The failure to file penalty is 5% per month until you max out at 25% while the failure to pay penalty is only .50% per month until you max out at 25%. Would you rather have a 5% or .50% penalty adding up every month?
Also if you set up a payment arrangement that .50% penalty per month drops to .25% per month.
Cam_Model_Jess
12-07-2015, 04:57 PM
So, according to the IRS- the tips are not charitable contributions over a specific amount or just in general?
Usually when people talk about taxes & charitable contributions they're talking about taking a deduction for contributing to a charity. You can only do that if you're itemizing your deductions. Unless you contribute a lot of money & have a lot of deductible personal expenses, go with the standard deduction. To answer your question, if you solicit tips or get them in the course of doing your job they are income not gifts. They must be claimed as income.
I never have filed taxes on my cam money. It's "contributions" so basically gifts of money. When I did port however I was sent a tax form. Bang bros is super strict (Doral inc)
Here we're talking about working for a living then saying the money you earn is from donations. Customers aren't donating money to you, they are paying you for a service. We all need money. Needing the money doesn't mean you're a charity... at least not one recognized by the IRS.
Since you're soliciting the money, it's taxable. It doesn't matter if you got a tax form. Eventually the IRS will figure it out. If your reported income is less than your searchable expenses (rent, mortgage, health insurance, car payment, car insurance, student loans, etc) there's a paper trail of you claiming to receive less money than you're paying out.
moneygoddess
12-11-2015, 09:09 AM
Are amazon gifts just gifts or are they taxable items?
KatyBoleyn
12-11-2015, 11:58 AM
According to the IRS whitepapers, Amazon gift cards are income if received as compensation for your business. Basically anything that has cash value counts. The label "gift" does not make it legally so. Any cards or gifts purchased on your behalf over $25 total by clients must be added up and reported.
pinklemonade0
12-12-2015, 12:29 PM
What happens if people give you Christmas presents or birthday presents? As actual presents?
BambiCutie
12-12-2015, 12:35 PM
I don't believe anything happens..
KatyBoleyn
12-13-2015, 09:52 AM
What happens if people give you Christmas presents or birthday presents? As actual presents?
If its from a business client, and its translatable cash value is over $25, its taxable. If its from bonafide family members (spouse, parents, Cousin Mo that just won the lottery), then the limit jumps to $10,000 (may be higher now) before it becomes a taxable gift.
addytoi
12-13-2015, 10:39 AM
If its from a business client, and its translatable cash value is over $25, its taxable. If its from bonafide family members (spouse, parents, Cousin Mo that just won the lottery), then the limit jumps to $10,000 (may be higher now) before it becomes a taxable gift.
The annual gift tax exclusion right now is $14,000. 1 thing to note: if the gift is over $14,000 it would not be taxable to the person that receives the gift. It would be taxable to the person giving the gift.
Addie_Anderson
01-12-2016, 04:42 PM
$1000 a week is a realistic goal for a newbie... someone who has been in the industry a while should be averaging at least $1500 a week but definitely more! Yes taxes are high but when you think about the fact that everything you purchase to do camming is tax deductable! so that will help a lot in the end, plus depending on your platform you can use a thong as a deduction then turn around and sell it to a guy you just cammed with (normally for 3x's more then you paid for the thong)
Like the platform I'm on I will buy panties, have a photo shoot in them, wear them to cam, autograph them, & sell them to a loyal regular! I let me tax deduction make me money even when I'm not camming (members buy my galleries, video, panties, and pay to cam... there are ways to earn money from camming that doesn't include actually being on cam!)
If you have any other questions about my platform get a hold of me... I know they are always looking for fresh faces to add!
Aurora14
01-18-2016, 08:16 AM
I know that once you make over a certain amount per year ($600 in most cases I believe) you have to report the income. Is this per source or total?
EX
Site 1 you earn $495
Site 2 you earn $1,000
Is this $1,000 of income you report or the full $1,495?
pinkpink
01-18-2016, 08:32 AM
OK, so I am stuck between a rock and a hard place. Basically, I didn't make a lot of money in 2015. A sad amount of money. And one of the sites I work for, doesn't even send tax documents and other girls I've talked to, don't even claim this sites income. And I barely made close to $600 on various other sites. Basically, on paper, to me. It looks like I actually didn't make enough money to even file! It's something like, less than $10K and you don't file, correct? But, the kicker is....I WANT to file because in order to secure my health insurance I have to file and prove and I made X amount of money.
Anyway. So now you know, I made a sad amount of money AND I know nothing about taxes. I'm here because I just made my tax appointment for next week. $150 flat rate, which seems fair to me. Hopefully, they'll be able to swing it so I don't owe much (because I didn't pay any taxes in 2015 either) since I made so little. But, the person I was referred to isn't taking new clients so now I am seeing a man. And for some reason, I am so afraid that he is going to be able to see through my "Oh I'm a writer...." front....and if he sees the companies on my 1099's (NF Services for example) I feel like any idiot tax person would be able to put 2 and 2 together. I'm afraid I'm going to get outed by seeing a tax person. Can anyone offer any advice....Thank you.
KatyBoleyn
01-18-2016, 09:28 AM
If you are self-employed and made more than $600 (was $400) total from all sources, you must file with the IRS. Even if you made nothing you should still file a blank return so the IRS doesn't come looking later and figure you were making money all this time. At that point you are a business and any amount of income must be reported, you can't cut out individual receipts because you feel like it.
The $10k number is for W-2 employees that are already paid for tax-wise, they say you don't have to file so they don't have to give your money back.
Your CPA or tax prep professional is bound by professional ethics. If anything you'll be "interesting" enough to pay closer attention. Blabbing about your clients, even if its a good story, will get you a rep and you will lose business (and possibly your license if your client formally complains). Don't be afraid to tell him what you really do, as this effects which business deductions the IRS cares about when they take a closer look at your return. There is a business code for "Internet Broadcasting" which basically covers Youtubers, game streamers, online consultants, and cammodels.
pinkpink
01-18-2016, 10:12 AM
If you are self-employed and made more than $600 (was $400) total from all sources, you must file with the IRS. Even if you made nothing you should still file a blank return so the IRS doesn't come looking later and figure you were making money all this time. At that point you are a business and any amount of income must be reported, you can't cut out individual receipts because you feel like it.
The $10k number is for W-2 employees that are already paid for tax-wise, they say you don't have to file so they don't have to give your money back.
Your CPA or tax prep professional is bound by professional ethics. If anything you'll be "interesting" enough to pay closer attention. Blabbing about your clients, even if its a good story, will get you a rep and you will lose business (and possibly your license if your client formally complains). Don't be afraid to tell him what you really do, as this effects which business deductions the IRS cares about when they take a closer look at your return. There is a business code for "Internet Broadcasting" which basically covers Youtubers, game streamers, online consultants, and cammodels.
Thank you so much! Internet Broadcasting sounds much better. I appreciate your response. I feel more confident about it now.
DonaDiabla
01-22-2016, 04:48 AM
Two questions:
Should I include my sugar baby income and gifts in my taxes?
And are sex toys deductible expenses?
KatyBoleyn
01-22-2016, 08:50 AM
Income and gifts as a sugar baby, absolutely yes. Everything is income.
http://julianblocktaxexpert.com/articles/man-woman-money-taxes/
Sugar-babying is not prostitution, but the same principles apply to their income. Even if you received "gifts" for NOT having sex, that's still a contractual exchange.
Sex toys can go either way -
Generally NO deduction for those, as these are something a "normal housewife would use and purchase"
However, if you're buying them in bulk, or they're something so crazy you could pass them off as a stage prop - maybe. The burden of proof in the audit would be for you to prove you never had fun with them, and they were only used for work.
The same basic rules apply for lingerie and cosmetic expenses. If its something normal people would buy from a department store, then no. If its a stage costume (think vegas show girl) or you bought your makeup from a theatrical supply store, then yes.
DonaDiabla
01-22-2016, 06:47 PM
Thank you, Katy :)
Income and gifts as a sugar baby, absolutely yes. Everything is income.
http://julianblocktaxexpert.com/articles/man-woman-money-taxes/
Sugar-babying is not prostitution, but the same principles apply to their income. Even if you received "gifts" for NOT having sex, that's still a contractual exchange.
Sex toys can go either way -
Generally NO deduction for those, as these are something a "normal housewife would use and purchase"
However, if you're buying them in bulk, or they're something so crazy you could pass them off as a stage prop - maybe. The burden of proof in the audit would be for you to prove you never had fun with them, and they were only used for work.
The same basic rules apply for lingerie and cosmetic expenses. If its something normal people would buy from a department store, then no. If its a stage costume (think vegas show girl) or you bought your makeup from a theatrical supply store, then yes.
koryncutie
01-27-2016, 07:39 AM
Should I have received my 1099 from streamate yet? I haven't received anything and I'm starting to worry...
BambiCutie
01-27-2016, 08:13 AM
Two questions:
Should I include my sugar baby income and gifts in my taxes?
And are sex toys deductible expenses?
OK, so I am stuck between a rock and a hard place. Basically, I didn't make a lot of money in 2015. A sad amount of money. And one of the sites I work for, doesn't even send tax documents and other girls I've talked to, don't even claim this sites income. And I barely made close to $600 on various other sites. Basically, on paper, to me. It looks like I actually didn't make enough money to even file! It's something like, less than $10K and you don't file, correct? But, the kicker is....I WANT to file because in order to secure my health insurance I have to file and prove and I made X amount of money.
Anyway. So now you know, I made a sad amount of money AND I know nothing about taxes. I'm here because I just made my tax appointment for next week. $150 flat rate, which seems fair to me. Hopefully, they'll be able to swing it so I don't owe much (because I didn't pay any taxes in 2015 either) since I made so little. But, the person I was referred to isn't taking new clients so now I am seeing a man. And for some reason, I am so afraid that he is going to be able to see through my "Oh I'm a writer...." front....and if he sees the companies on my 1099's (NF Services for example) I feel like any idiot tax person would be able to put 2 and 2 together. I'm afraid I'm going to get outed by seeing a tax person. Can anyone offer any advice....Thank you.
I think you would include all the earnings together..
That sucks, I made a lot less than charted and ended up having to ask for help. It sucks to admit that this month could had turned out better had I just "Stayed the fuck on.."
KatyBoleyn
01-27-2016, 09:20 AM
Once you derive more than $600/year total income from any non-W2 source (even combined with non-camming), you are self-employed in the eyes of the IRS. You need to file your tax return. However, if you made less than a certain amount (~$10,000 - $30,000+ depending on your situation), you still won't actually owe taxes. In fact, if you have EIC (for having kids) or healthcare credits, you may actually make money back.
There are certain exceptions for "hobby" profits, but this wouldn't come close to qualifying.
Decent tax preparers and CPAs are bound by professional ethics backed up by licensing, so its a big issue if they out you. Very few would risk their careers for the sake of blabbing a cool story.
CharleyQuinn
01-29-2016, 10:45 PM
Should I have received my 1099 from streamate yet? I haven't received anything and I'm starting to worry...
I haven't gotten anything yet either
KatyBoleyn
01-30-2016, 10:04 AM
For most major websites they should have gone out Friday or will go out Monday in the mail. We set our mailing deadline on the 20th and everything that could go wrong did go wrong and barely managed to get them all out the 26th.
SuperPookie
02-02-2016, 03:21 PM
^^^ thanks I've been getting worried because it wasn't here yet
LolaInParadise
02-10-2016, 09:17 AM
Has anyone with ImLive received their 1099's yet? Their dumbass customer service told me they don't issue them.... gee then how did I get one for 2014?! LOL
KatyBoleyn
02-10-2016, 10:42 AM
They might have "off-shored" since then. I don't think we got one either, but we did last year. If anything you should be able to pull up your earnings record from last year and just add it up.
The Cams.com/Steamray one is worrying...they're delaying issue until Feb 28th (illegal and carrying stiff fines actually), so if there's any inaccuracies then it will take an act of God to get them corrected as that's also the corporate final submission date to the IRS. I think this may be the point. If they're willing to eat a half million $$$ in guaranteed fines, then what are they hoping to get by with.
breadandbutter
02-16-2016, 10:26 AM
So I finally got my 1099 from Cams.com, but the amount they said I earned is off by about 1200 dollars. How can I fix this? Not really sure how to go about this.
KatyBoleyn
02-16-2016, 12:38 PM
Contact them immediately by email and ask for a re-issue. We're about to go through ours as well. Was it 1200 more or less than you actually made?
If the 1099 is less than what you made, then you should be fine. It means their cutoffs for accounting were after a certain date and that income will catch up next year.
If the 1099 is showing more than you made, then that's passing tax liability to you and you need to have a paper trail. Again, contact them immediately by email and if you don't get a response in a few days you'll need to send them a written letter. After Feb 28th its locked in and you need to defend it to the IRS instead and its much harder to work through. $1200 in extra tax liability could cost you about $300+ depending on your tax situation. If they're made aware and can fix it before the 28th, then no harm done at all - mistakes do happen.
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Our 1099 from them was only about 0.08% off, so well within the margin of error. Always check your numbers though from anywhere...more than 2% off and it is usually worth your time to dispute it.
breadandbutter
02-16-2016, 12:53 PM
Thank you for the reply! It shows 1200 less than what I made. I'll be emailing them to see if it was a mistake or if, like you said, the cutoff was at a certain date last year. That is all really great information.
Glamourmilf
02-17-2016, 11:11 AM
***Headsup To those that are planning on using an accountant. I Went to see an accountant In the new town that I now live in. I was honest with him And told him that I am a cam girl And do phone sex work. ( I only told him, because I've been using 'customer support' as my profession, and thought i was missing out on deductions i could claim).
Right away, He treated me Like a prostitute/Madame.. He told me That he wanted me To contact any girls I know, back in the big city i moved from, and to get him a lady that he could pay, for sex! WHAT???
I couldn't believe what i was hearing! I told him no, im not going to do that.
*Important~ Prior to him saying this, he told me that he waives the fee for preparing taxes, and just makes sure I will get lots of money back from the govt., to which he will keep ALL of it!
Sooo WRONG! A scam which could land me in jail! Not to mention the pimping part he wanted me to do.
I spoke to friends of mine, and they said the all have fallen for this scam by their, now prior accountants.
I wish to God their was some way i could report this guy, but i really don't want any repercussions.
It's back to doing my taxes online with TuboTax. Honest company. Very user friendly.
KatyBoleyn
02-17-2016, 12:15 PM
***Headsup To those that are planning on using an accountant. I Went to see an accountant In the new town that I now live in. I was honest with him And told him that I am a cam girl And do phone sex work. ( I only told him, because I've been using 'customer support' as my profession, and thought i was missing out on deductions i could claim).
Right away, He treated me Like a prostitute/Madame.. He told me That he wanted me To contact any girls I know, back in the big city i moved from, and to get him a lady that he could pay, for sex! WHAT???
I couldn't believe what i was hearing! I told him no, im not going to do that.
*Important~ Prior to him saying this, he told me that he waives the fee for preparing taxes, and just makes sure I will get lots of money back from the govt., to which he will keep ALL of it!
Sooo WRONG! A scam which could land me in jail! Not to mention the pimping part he wanted me to do.
I spoke to friends of mine, and they said the all have fallen for this scam by their, now prior accountants.
I wish to God their was some way i could report this guy, but i really don't want any repercussions.
It's back to doing my taxes online with TuboTax. Honest company. Very user friendly.
That's actually grounds for getting his CPA license suspended if true. My own tips for getting one...don't get a man for your first pick. Yes, there are a few good ones, but you're much better off with a female CPA/accountant if you can find one. Judgy (but competent) vs. too pervy for the job. If your deductions from work are under $1000, they really aren't necessary regardless and turbotax can take care of most things.
Glamourmilf
02-17-2016, 01:10 PM
^^ Now I know why the friend (used loosely),who told me about this douche bag accountant said he's never had to pay out any money in over 20 yrs.
I did think it was odd that acct. Didn't know how to use a computer. He obviously doesn't get what a cam girl is, and probably thought it meant pimp. Don't know what he thought. Dont really care.
As far as using a woman, i wouldn't, for fear of being judged. (It was also a woman acct. That a stripper friend of mine used to run that scam i mentioned( the one where they make sure u get money back, and then take it as their payment). * Not implying women accts are bad.
Turbo Tax is awesome.