Book Keeping and Taxes for Camgirls
In light of tax season I thought I'd start a thread to help with book keeping and taxes. I was planning on using Excel this year to log my hours and income so come tax time next year I have a good layout of how the year went, where all my income came from (different sites) and how much I anticipate to owe in taxes. I was wondering if any of you ladies would like to share some of your book keeping methods or any nifty tips that may come in handy. Thanks in advanced ladies!:)
P.S. I know there are many threads on taxes, I was hoping to have this one focus on book keeping methods
Re: Book Keeping and Taxes for Camgirls
actually, there is already a huge amount of material directly relating to exotic dancers and camgirls in the Dollar Den forum. Not wanting to discourage you from posting about 'sole proprietor' business book-keeping and taxes in the Camming forum, but ...
Re: Book Keeping and Taxes for Camgirls
Quote:
Originally Posted by
DiamondCupcakes
I was planning on using Excel this year to log my hours and income so come tax time next year I have a good layout of how the year went, where all my income came from (different sites) and how much I anticipate to owe in taxes.
See now i'm confused, I thought we had to file our taxes quarterly and not once a year >.<
Re: Book Keeping and Taxes for Camgirls
We have to FILE taxes once a year and pay estimated quarterly.
Re: Book Keeping and Taxes for Camgirls
^^^ yes, filing an estimated tax voucher ( 1040-ES ) four times a year, and sending in a check to the IRS for estimated taxes due on the previous 3 months earnings, essentially takes the place of a 'straight job' employer withholding estimated taxes from every employee paycheck. Then, just like an employee, you file an annual tax return ( 1040 plus Schedule C ) at the beginning of the following year. That tax return calculates the actual amount of taxes you owe, credits the estimated tax payments that you have already made, and you receive any positive difference as a refund or must pay in any negative difference.
Re: Book Keeping and Taxes for Camgirls
Thank you Melonie =) How do I close my thread? lol. Do I wait for a mod to do it? Sorry for re-asking ladies =/ *slap on the hand*