Good for you! That's awesome!
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I agree plus with Sm taking 60% and taxes around 20-30% (I always just calculate 30% in my mind), that means about 90% of your money off SM is gone! Add in the fact that you have to pay for your upkeep (hair , outfits, toys, expensive technology, etc). I just don’t see how it’s worth it otherwise. Now on indie, sure I’ll charge $3-5 per min but I take home more of that.
Its not even just about the money/take home income I dont think. In my experience, having higher rates adds to the experience as a whole.
The higher my rates have been, the nicer customers and better quality shows I get. I even notice a difference between my pvt customers over my excl customers tbh. I do have some amazing customers who only do private, but overall my nicest and best quality guys are my excl guys. If ever I get someone who’s pushy/demanding/in a rush, it’ll nearly always be someone who took me pvt. I barely ever get that in excl now.
Ya, SM takes a large cut but I don't really view it like that. All I care about is that my 9.99/min pvt rate gives me $3.49/minute my cut and my 12.99/min excl rate gives me $4.54/min my cut.
Taxes are really in our favor for being self-employed as we have access to deductions that the normal W2 workers don't have. On top of business deductions, investing and putting away money into tax-advantaged accounts (solo 401k, IRA, HSA, etc.) can reduce your tax burden significantly.
True, Exactly my point , cam shouldn’t be below $3/ min (our cut).
just raised my rate from 5.99/6.99 to 7.99/8.99 and I am getting shows with great customers. I will probably raise it another dollar in the next few weeks when I have picked up some toys and costumes.
I raised mine to 6.99/7.99 I’m not going back if they want cheap pussy they can go somewhere else. My cut is another .30. Seeming how they don’t tip its totally okay to charge a higher rate
I raised mine up to 7.99 excl & right away had an awesome 2 nights back to back only excl shows. However, I took off 4 days came back to nothing. Ya I'm risking it & raising that shit up to at least 8.99 excl & 7.99 for pvt.
So I raised my $1.99/3.99 to $4.99/6.99 and now I'm so mad at myself that I didn't do this sooner!!
mini bagel have you applied for a tax id number ? i was thinking about getting one so i can unlock business credit cards to put my tax deductable spending on 1 card so its easier and get more bonuses for spending.
when you put money in the IRA and those things can you pulll it out 1 x per year ? or are the penalties high in order to pay less taxes?
i didnt get enough deductions this year i think ( i am not a big spender) i couldnt gather more than $13k in spending so i think i have to do standard deduction :-(
^I have an EIN (employer identification number for small business/self employed) that I used to open a solo 401k. I didn't need one for my IRA, pretty sure at least.
But ya cam girls generally have pretty low overhead/expenses compared to other small businesses like a restaurant for example, so the best way to reduce our tax burden is to put away money into these types of accounts!! The solo 401k in particular has massive contribution space, approx. $57k compared to $19,500 for the regular W2 employee.
If you open a Roth IRA you can pull out only the contributions (not growth) without consequence because it is after tax money. If you have a traditional IRA there will be penalties. I believe for Roth the only catch is that you only have a 60 day period to put it back in without it messing up your contribution limit. For example, the current limit I believe is 6k/year so let's say you only put in $2000 so far this year, but then you need to withdraw $2000 for an emergency you'd only have 60 days to put it back so that the $2k still counts toward your contributions. If you don't return it in time, then you can only contribute $4000 and your remaining contribution space for year will be $4000 (not $6000).
With all that in mind, the Roth IRA is not tax deductible because it is after tax money. Only the traditional IRA is deductible, but there is also an income limit for it to be eligible for deductions-- around $75k MAGI. If you put away enough into a solo 401k, you could lower your MAGI to still qualify for the traditional account.
ok so i said fuck it and raised my prices to 9.99/9.99 and got a private with a chill dude within the first hour! only bad thing is my sound wasnt working too well UGH :/ good ting is I made SO MUCH in 1 minute.
I am keeping my prices until SM raises my limit to 11.99 cause currently I am at the maxed out price. :)
I want to get an IEN to open business credit cards. Have you done that yet? It’s really helpful. I mainly want it for that reason. But I don’t want to have to complicate my taxes. This year I am doing just the standard deduction. As you knew I didn’t hit enough spending to deduct that much . About 13k so far only total. Which isn’t much .
Have you looked into the business credit cards?
I certainly have better clients now! Either total fetish or total vanilla and just want to see me naked. I think men like to spend money on expensive hoes, especially if they just have to spare and get to nut lol.
Anyways, I am here to say if I can raise my prices, you can too. I decided to stay at 8.99/9.99 and I am getting A LOT more exclusive shows compared to when I was at 5.99/6.99.
I did all this in a span of a month.
This thread honestly motivated me to give it a try so thanks to all the ladies who posted, camming is fun again! :)
Recently got approved for $19.99/min for max rate and experimented with 15.99 last night and I don't think any of the customers noticed }:D
Does anyone know what the max rate is? Is it $24.99?
Anyone raising their rates on their OnlyFans subscription?
My rates everywhere else are higher (cam, phone, customs) but I keep pre-made videos on clip sites around $1/min and my OnlyFans is $5 monthly which makes it the cheapest thing I offer. I post 1 minute nude videos (non explicit) every single day though so I'm thinking of raising it to $10 or $15 per month, but I'm worried about losing subs :P
EDIT Like at $5 a month, lots of subs come and go. I'm thinking if I raise it, the guys who sub will probably stick around longer if they're willing to pay more to see ME specifically in the first place, rather than the guys who think 'eh it's just $5, let's see what she offers' and only stick around for 1 month.
I am 6.99 with 7.99 on Streamate and I live in the UK. Not sure how much to increase... But I feel like I should be more expensive, don't think if I am cheaper I will get more pvts. Hard to know...
I've just upped my private rate from 7.99 to 8.99 today. I'd built this thought into my head that I need to keep my private lower cause I don't do gold shows. But I've just invested a few £££ in the brio and a big ring light though and my stream looks wayyyyyy better. Plus according to my rate analysis tool though, only 25-30% of my shows are private's anyway so I'll see how it goes! I'm now at 8.99/10.99.
Don't price based on your equipment or experience, do it on what you WANT to earn! I've upgraded as I've gone along but only because it makes my life easier and makes me happier. The guy themselves don't notice a damn. Start high and go higher.
And yay MiniBagel that's the fucking way!!!! :)