Taxes as a camgirl. Worth it?
I'm 18 and still live at home with my dad. I'm taking a year off and have a LOT of free time that I'd like to spend making some extra money camming. Problem is, I have noooo idea how taxes work. I know if you make more than $600 in a year(which I was planning on) Streamate will send you a 1099 form. My dad has me claimed as a dependent so I never have to deal with my own taxes. If I start camming can I fill out the 1099 and send it in and be fine or do I need to do other stuff with the taxes my dad deals with? Basically is there anyway I can deal with taxes without ever having to tell my dad about my camming? I haven't started yet so I'm wondering if it's even worth the trouble. Thanks<3
Re: Taxes as a camgirl. Worth it?
There is a really good thread on here with almost the exact same title as this one.
https://www.stripperweb.com/forum/sh...still-worth-it
Re: Taxes as a camgirl. Worth it?
Just take 35% out of your check each month, and you will be golden.
Re: Taxes as a camgirl. Worth it?
Am I able to pay the taxes without my dad knowing though?
Re: Taxes as a camgirl. Worth it?
Well are they still claiming you? If so, no. You have to show any income. If not, your parents could get audited. I don't think it would be pleasant experience of them finding out you cam through the IRS.
Re: Taxes as a camgirl. Worth it?
Quote:
Originally Posted by
ivana674
Am I able to pay the taxes without my dad knowing though?
you can lie about what you are doing for work but you have to tell him you are having an income and that he cant claim you
Re: Taxes as a camgirl. Worth it?
What you can do, get a vanilla job, save up, move out, then cam. It'll be easier and less deceiving IMHO
Re: Taxes as a camgirl. Worth it?
Re: Taxes as a camgirl. Worth it?
the key issue here is whether or not you're in a position to 'legally' set yourself up as an independent adult for tax purposes. If you can do that, then your parent doesn't need to know anything about your business activities or income. But this is difficult if ...
- you are still living with your parents, thus they are paying for more than 50% of your 'support' ( via the parents paying rent/mortgage, utility bills, grocery bills, etc. )
- you are a college student, regardless of whether you are still living at home or living independently
If you have 'dependent' status, then your own tax return and your parents' tax return are 'linked at the hip' via your social security number needing to appear on both tax returns.
If you are a college student, your own tax return and your parents' tax return are even more closely linked, because FAFSA requires that 'total household income' be listed on FAFSA grant and loan application forms, because college bursar's offices will issue IRS documents relative to tuition payments made for tax credit eligibility reasons, and because the IRS will need to verify 'total household income' numbers to FAFSA.
Re: Taxes as a camgirl. Worth it?
I linked her earlier to the stickied thread about taxes for cam girls. Can this thread be meshed (whatever the word is...lol) into that one?