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Thread: Start paying your taxes!

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    Veteran Member bluexxxtasy's Avatar
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    Default Start paying your taxes!

    now maybe its because of the epassporte thing or maybe its just time..

    some cam companies if they did not before or stated that no 1099s would be sent out are now asking for irs form w-9 be filled out! not that its a problem for me because i pay taxes on all of my income but some people do not.. Some people view dancing and camming as a way to just have free money and will soon get fucked in the ass. some already are about to get fucked in the ass if in fact epassporte is on some fraudulent shit y? if there is any investigation the irs will be all over it and your ass will be in trouble if a- you made over that limit they have for foreign accounts(epassporte is considered a foreign bank) and b-you never reported your taxes in the first place.

    epassporte has locked us out of the virtual accounts any investigation and every amount of money you have earned is just sitting there... so if you are not even half way on the up and up...you need to get there now...im just saying..
    still here.... just in another chapter..

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    Featured Member BustyAmeera's Avatar
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    Default Re: Start paying your taxes!

    So true! I don't need to worry because I pay my taxes, but I know a lot of people don't take this serious. The irs WILL be looking at those epass accounts. It's only a matter of time..

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    Default Re: Start paying your taxes!

    I don't even know when I'm supposed to file and how that all works. This is my first time being an independent contractor. Some places I haven't made over $600 so they're not going to send me a 1099 so that I don't have to report, right? This is all very confusing and stressful. Grrr.

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    Default Re: Start paying your taxes!

    Quote Originally Posted by Raven69Skye View Post
    I don't even know when I'm supposed to file and how that all works. This is my first time being an independent contractor. Some places I haven't made over $600 so they're not going to send me a 1099 so that I don't have to report, right? This is all very confusing and stressful. Grrr.
    St. Kitts is an offshore domain and the IRS has no jurisdiction to look at ANYTHING in their accounts. The IRS is a United States Government entity, and the bank is in a foreign country (known for not co-operating with US requests, because they are a tax haven) called St. Kitts. Which is one of the most beautiful and wonderful places Bambalina has EVER been. Great waterfalls for sitting in and snorkling that makes your eyes fall out it's so spectacular. But what eclipses the tourism money in St. Kitts is that it is an international banking haven for taxes and such from HUNDREDS of high tax countries all over the world. Sooooo...point is...No IRS interference THERE.

    However, the way the IRS messes with folks is when the money becomes "re-patriated" (when is comes HOME to the US) it leaves a trail.

    Now, one thing here that needs to be said is that one might think a little island like St. Kitts might have some pretty fly-by-night banking...Not SO! Serious banking regulations exist in International tax havens and they are REALLY strict, since 3/4ths of ALL the money on the island comes from the banks....So they take their banks being safe REALLY seriously.

    This tells me that those who are pretty darn sure they are losing their money, can sit back, take a deep breath and get a small measure f a smile on their face, because it is VERY unlikely that our money will disappear...it is just in regulatory hell....Might be tomorrow and might be a year, but we'll probably get it...

    B.

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    Default Re: Start paying your taxes!

    From Here:

    St Kitts and Nevis maintains a high level of confidentiality for offshore entities under the Confidential Relationships Act of 1985. The Confidentiality Act safeguards investors by prohibiting disclosure of any information obtained in the course of business. The law is considered to provide the most rigid secrecy in the Caribbean region as it applies to banks and professionals as well as Government officials.

    Cool eh?

    B.

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    Default Re: Start paying your taxes!

    Quote Originally Posted by Raven69Skye View Post
    I don't even know when I'm supposed to file and how that all works. This is my first time being an independent contractor. Some places I haven't made over $600 so they're not going to send me a 1099 so that I don't have to report, right? This is all very confusing and stressful. Grrr.
    not receiving a 1099 isnt a valid reason to the irs for not filing...and its not 600 per company, its 600 total income. Aslong as you make the mininium total, regardless of how many companies or different jobs you work, legally you have to file

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    Default Re: Start paying your taxes!

    but how do they know I made the money if certain companies don't report it? I'm scared. I don't want to get in trouble. But I don't get how they will know?

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    Default Re: Start paying your taxes!

    Good question, Raven. I say when in doubt contact a professional. They can sit with you and let you know everything you need to know. That way you feel more at ease. I don't know a whole lot about taxes, but I go get my Turbo Tax disk, and download it to my computer, and it's a big help. It will take you through each step you need in order to make sure you have covered all companies pay, and expenses. We get a lot of different little tax breaks too such as utilities, rent, gas, even when eating out, and paying for your own dr bills.

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    Default Re: Start paying your taxes!

    Raven: I have a CPA that takes care of all this for me. I suggest you get one or take a tax course.

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    Default Re: Start paying your taxes!

    The information is also on the HR block website as well. I file my taxes every year and I get a refund. I don't see what the big fuss is about just file your taxes if your making money and using it to support your life then pay your taxes.
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    Veteran Member Starxx's Avatar
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    Default Re: Start paying your taxes!

    Quote Originally Posted by Raven69Skye View Post
    but how do they know I made the money if certain companies don't report it? I'm scared. I don't want to get in trouble. But I don't get how they will know?
    If the money went into your bank account then they will know. Thats why dancers can get away without paying taxes way easier than a cam girl. Dancers get cash, cam girls have money put into the bank. I pay taxes on everything that goes into the bank because all of that is trackable.

    And I would also definitely suggest getting some sort of small business accountant. Last year I did taxes for the first time and went to H&R block and I payed sooo much money in taxes. You should definitely find someone who knows a lot more so you can take full advantage of your deductions and not have to pay as much in taxes as I did (I'm making sure I get a better tax person this year too!)

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    Default Re: Start paying your taxes!

    Quote Originally Posted by Starxx View Post
    If the money went into your bank account then they will know. Thats why dancers can get away without paying taxes way easier than a cam girl. Dancers get cash, cam girls have money put into the bank. I pay taxes on everything that goes into the bank because all of that is trackable.

    And I would also definitely suggest getting some sort of small business accountant. Last year I did taxes for the first time and went to H&R block and I payed sooo much money in taxes. You should definitely find someone who knows a lot more so you can take full advantage of your deductions and not have to pay as much in taxes as I did (I'm making sure I get a better tax person this year too!)
    So a business account can help to save how much we pay? I think I might need to contact a tax preparer as well. The more money I save the better!

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    Default Re: Start paying your taxes!

    Stripperweb is closing! Join me over at WeCamgirls

    A part of all you earn is yours to keep. It should be not less than a tenth no matter how little you earn. It can be as much more as you can afford. - Richest Man in Babylon

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    Veteran Member Starxx's Avatar
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    Default Re: Start paying your taxes!

    Quote Originally Posted by BustyAmeera View Post
    So a business account can help to save how much we pay? I think I might need to contact a tax preparer as well. The more money I save the better!
    Sorry, I shouldn't have said accountant, I meant people who do taxes for small businesses. A good tax preparer yeah. No H&R block!

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    Default Re: Start paying your taxes!

    When this epassporte scandal began, I had a feeling alot more of these sites would require 1099, ID, SS, etc to comply with govt regulations......and it is about time! If a site is located in the USA (we all know there are loopholes around this) then the site (if totally legitimate) should 1099. All of the independent webcam sites I know of do not 1099.....and that is NOT GOOD! A USA based site that is completely LEGIT and complies with all regulations will 1099 their independent contractors...it is the law! This speaks volumes about independent webcam sites, and many others that are based in the USA. I am not pointing fingers or saying one should not work for sites that do not 1099, but I have a feeling that these new regulations will make it more difficult for such sites both independent webcam sites and larger sites to exist as we know them.

    I do not know how this will effect sites that are not located in the USA.

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    Default Re: Start paying your taxes!

    Quote Originally Posted by minniesoporno View Post
    The information is also on the HR block website as well. I file my taxes every year and I get a refund. I don't see what the big fuss is about just file your taxes if your making money and using it to support your life then pay your taxes.

    I don't know what Canadas laws are like, but indy contractors have always owed no matter what kind of write off's/deductions they have. The write off's and deductions have just lessened what they do owe!

    How on earth are you getting refunds?

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    Default Re: Start paying your taxes!

    I have an occassional client that is a CPA with a little firm and I posed the question on the forum to him via email and this is what he has to say:

    Save receipts! This is the core of business deductions (among a few other "tricks").

    And yes, get a small business account. Accountants want to take your receipts for business deductible items (internet expenses, makeup for shows, advertising expenses, etc., etc., etc.) and match it up against your account. Well, GOOD accountants will do this. If you know WHERE to look as far as expenses/income then you can lower your tax bill substantially. Plus, contractors technically need to be making quarterly payments (estimated) in order to NOT be penalized but in some situations you probably won't make enough money to make these payments. And generally, you have to make A LOT of money in order for there to be a big penalty for lack of estimated payments so it's usually NOT a big deal. Ultimately, you need to save receipts! Don't know which receipts to save? SAVE 'EM ANYWAYS! Again, a good accountant will do some quick bookkeeping and then maximize your deductions. Computers can be 179'd (expensed as an asset, with depreciation) with lots of other tricks like getting credits for energy efficient appliances at home, retirement savings credits, etc. Hope this helps hottie

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