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Thread: Paying Taxes Questions

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    Default Paying Taxes Questions

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    Last edited by loveyonetwo; 08-15-2011 at 04:33 PM.

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    Featured Member Cassandra39's Avatar
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    Default Re: Paying Taxes Questions

    This isn't a question a lot of girls will be willing to answer on the internet like this. But it seems like you answered your question for yourself...

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    Default Re: Paying Taxes Questions

    Quote Originally Posted by loveyonetwo View Post
    Hey girls. I was wondering how taxes work. I know you file taxes as an independent contractor, but do you guys claim ALL of your income? Or half? I mean, as long as it doesn't go into a bank account & pay cash for most things, the government can never trace it right?

    It doesn't matter if they can trace it or not. If you are living beyond your means, they will determine what income level it takes to be at that level, and then give you a tax bill (with lots of penalties). It will be up to you to prove that you did not earn that level of income in a tax court.

    Also, all cash purchases over a certain amount are reported to the Treasury Dept. and the retailers have to fill out paperwork (they generally do not want the hassle).



    EDIT::whoops, forgot it was SG. I left it to the topic at hand and added no commentary. Pleeeeeze forgive me.


    EDIT:: there is a section for this topic. http://www.stripperweb.com/forum/forumdisplay.php?f=130
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    God/dess Zofia's Avatar
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    Default Re: Paying Taxes Questions

    Quote Originally Posted by loveyonetwo View Post
    Hey girls. I was wondering how taxes work. I know you file taxes as an independent contractor, but do you guys claim ALL of your income? Or half? I mean, as long as it doesn't go into a bank account & pay cash for most things, the government can never trace it right?
    You may, or may not be an independent contractor. Regardless, the United States and most states impose a taxes on income from whatever source derived. The rates vary. Also, there is a social security and medicare tax that is imposed. (If you are an independent contractor you are liable for the employer half of the tax as well as the employee half. Of course you get an offset for the employer half as it would be deductible if you were a corporation.) If you are not withheld, you do have to file quarterly estimates as well as your annual return.

    Personally, I reported honestly and paid my taxes. The first couple of years, I didn't owe much as I did not work that much and wasn't all that successful. However, with time I learned how to make the most of my time at the club and made a nice living. My last couple of years dancing I paid a lot in the way of taxes. However, I have a lot built up in social security now. I also have years of tax returns to substantiate my income. That documentation has made it possible for me to borrow money to buy houses and cars.

    As far as getting caught by the IRS or a state department of revenue, the chances are too high for my risk tolerance. When I danced in Indy, the IRS and Indiana DOR went through town assessing all the waiters and waitresses who hadn't filed taxes for the last three years. They had a "average" wage for wait staff and just assessed taxes based on the "average" and added a bunch of penalties for chuckles and grins. Then they left it up to each individual to prove they didn't make as much as the "average".

    I have heard of other towns where the IRS went through and targeted all the strippers. (Louisville is easy since they had a dancer's license. Vegas is another town where it is easy to figure out who the dancers are.) Paying taxes hurts until you go through what the wait staff in Indy did. Then reporting and paying seems like the easy way out.


    HTH
    Z

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    Default Re: Paying Taxes Questions

    Quote Originally Posted by Cassandra39 View Post
    This isn't a question a lot of girls will be willing to answer on the internet like this. But it seems like you answered your question for yourself...
    Why not? I don't see anything out of the way 'bout what she is askin'? I've wondered the same thing. I mean unless you are burying your money in mayo jars in the backyard or something you are putting big $ into the bank day after day and the IRS keeps up with the money in the bank. Strippers should support each other and it may be embarrassing to call the IRS and explain "hey, I'm wanting to be a stripper. How does the whole tax thing work?" lol

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    Default Re: Paying Taxes Questions

    there are many many threads in the Dollar Den forum on the topic of dancer taxes and potential IRS enforcement measures. Try using the search function in Dollar Den with keywords like 'estimated' and 'taxes' and 'IRS' !

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