curious as to how many of you have this set up.....and which one? PO boxes for gifts, sure.....but is it even SAFE to use paypal, alertpay or any of these with your REAL name? What are the options?
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curious as to how many of you have this set up.....and which one? PO boxes for gifts, sure.....but is it even SAFE to use paypal, alertpay or any of these with your REAL name? What are the options?
Paypal is not legal for adult.
Who uses their real name to cam?
As a camgirl, you are a sole proprietor not an llc or a corporation.
It can be worth setting up a corp. I'm an LLC - it's a pretty straightforward process and makes it much easier to work anonymously since you take payment in the name of your company. So you set up the corp, open a bank account in your business' name, and then take payment through your business account (and pay taxes on that business). I think on the whole an LLC is all you need, but it's really up to you. There are pros and cons to both LLC and S-corps.
That said, an LLC alone isn't a rock solid wall in terms of privacy since corp info can be searched, depending on where and how you incorporate, but it does add a layer of protection. There are services that will set you up anonymously, though they cost a bit, but if privacy is a real concern, it's worth it.
Individuals are sole proprietors. As a sole proprietor, Your business ID is your social security number. Being a sole proprietor does not mean you use your own name or work name to do business. Sole proprietors have the option of obtaining a DBA.
Any CPA worth his salt will tell you that, OP.
I think she's asking about running her business as an LLC or S-corp instead of as a sole proprietorship. Individuals can be LLC's as well.
I have an LLC that is taxed as an S corporation for tax purposes. My former cpa set it up, so I don't recall the specifics at the moment. I'll fill in more details when I look back over the paperwork.
I can use all the help I can get here guys.....I have only worked as a dancer and for years friends have suggested I set something up. just overwhelmed and probably making tons of stupid mistakes.....HAVE 2 find alternatives to traveling as I have kids 2 care for and working from home is really the best option.....for a single mom getting support and earning under 50 a year what is the best route to take for tax purpose.....for some reason in the past my cpa had advised me NOT to set myself up as an scorp......but I was just dancing at the time.....uggggg so confused
I was advised not to set up as an S-corp, though I can't remember why (it was a while ago), but then once I'd set up as an LLC, someone else told me that either would have been fine. You definitely want someone who can give you advice, so a good CPA or attorney. Generally speaking, setting up a corp is a good idea if you're self-employed (photographers, actors, freelance writers, etc., all set up corporations), for tax reasons and legal reasons, let alone privacy reasons. It's not absolutely necessary - it was just recommended to me aggressively years and years ago, when I was doing a very different form of sex work. So if you're doing it for tax reasons, you want a good CPA to give you advice that's based on your circumstances.
Yes, my company is still an LLC. There was simply an additional form to file to have it be taxed a bit differently and further avoid double taxation. I'll find the exact citation for it and post it here in my next post. This was a few years back when I formed my corporation and haven't thought about the particulars in quite some time......be back soon...
In the meantime, I can PM the name of the adult-friendly CPA from San Fernando Valley if anyone wanted a direct source.