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Thread: Taxes?

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    Default Taxes?

    How do you all go about paying your taxes? Since I am making big bucks seems like 2011 is the time to start paying my taxes. (I didn't make enough to pay in last year...) but how do you guys go about paying quarterly whatever? I'm dumb and I don't get it.

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    Member katiesgotcurves's Avatar
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    Default Re: Taxes?

    If you got a 1099, you should have taxes due. Social Security. IRS has taught me that lesson! They held up an 8000 refund i was due this year and didn't make it ez. Make sure you file, and I will let others talk about the quarterly.

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    Default Re: Taxes?

    Well with streamate I do not think I put in a 1099 neither with Adult work or mfc. Maybe I did. I really just don't remember. I just want to start paying this year well really actually claiming. That is just what I ment. I don't have any other money that would get me a refund anyways.

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    Member katiesgotcurves's Avatar
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    Default Re: Taxes?

    When you are self employed as we are, and you are a US citizen, you get a 1099 each year from the some companies that shows how much you earned and it is reported to IRS. You do not fill out the 1099. Streamate does not at this time provide 1099's. But reporting income should follow the same guidelines weather they supply a 1099 or not. We still have to report on our returns.

    1099 explained.

    If you made under 500 maybe it is now 600, they are not required to send/report to you.

    I use a tax program for my taxes like tax act. You can just do HR block - use a professional since you are new at this!! Educate yourself though. Read about deductions etc. Save receipts. etc.

    When you work for ... Starbucks, they pay part of your SS tax. (don't quote me, i am not an expert) If you are self employed and the person you did work for sends you a 1099 (sort of like your w2) you have to pay all the ss tax. If you do not get a 1099 we are still required to report our inome and pay taxes on it.


    it says stuff like:::
    If you are self-employed you must pay Self-Employment Tax
    Self-employment tax (SE tax) is a social security and Medicare tax primarily for individuals who work for themselves. It is similar to the social security and Medicare taxes withheld from the pay of most wage earners.

    If you are self-employed you must pay Estimated Taxes
    This applies even if you also have a full-time or part-time job and your employer withholds taxes from your wages. Estimated tax is the method used to pay tax on income that is not subject to withholding. If you don’t make quarterly payments you can be penalized for underpayment at the end of the tax year.
    Last edited by katiesgotcurves; 01-10-2011 at 01:03 PM. Reason: incorrect info

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    Default Re: Taxes?

    Yeah, but I really don't remember signing a 1099. I did with naked.com a few years ago...but with streamate no and adult work no.

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    Default Re: Taxes?

    I never even got my 1099 forms back last year but I made waaaaaaaaaay under 500. I just got them back for my other "real hourly wage crap jobs"

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    Default Re: Taxes?

    Quote Originally Posted by katiesgotcurves View Post
    When you are self employed as we are, and you are a us citizen, you get a 1099 each year from the company/sm that shows how much you earned and it is reported to IRS. You gave them your ss and ID YES?

    I dont think thats right, SM dont do 1099's i believe and AW 100% dont.


    In the UK you add up how much youve made, take away the costs and send it online and they send you a letter with your tax. US seems to be alot more complex

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    Default Re: Taxes?

    Thank you for backing that up Princess Jenny. Bleh I still have no clue what to do. I should move out of the US haha,.

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    Default Re: Taxes?

    Thanks Katie I did not see that full post. Thanks for the link.

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    Default Re: Taxes?

    Quote Originally Posted by PrincessJenny View Post
    I dont think thats right, SM dont do 1099's i believe and AW 100% dont.


    In the UK you add up how much youve made, take away the costs and send it online and they send you a letter with your tax. US seems to be alot more complex
    O LORD the IRS IS A FRICKING DISASTER!!!!!!!!!!!!!!!!!!!!!!!!!!!! It is seriously complicated, and bull-------

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    Default Re: Taxes?

    have any of you actually contacted a tax proffesional in your neighbourhood that can help with independent contractor forms.
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    Default Re: Taxes?

    must be real complex if pro's need to be involved.

    So glad im not in the US at the moment for taxes. Will have to do them in the future though


    Does the IRS have an online version yet?

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    Default Re: Taxes?

    Quote Originally Posted by minniesoporno View Post
    have any of you actually contacted a tax proffesional in your neighbourhood that can help with independent contractor forms.
    I've done my own taxes for years. My 1st best friend's dad was a CPA & a court judge, so I would pay him to check them for me before I turned them in. He got really sick with lung cancer though, so I've been on the look-out for a new CPA. A lot of times though girls will use the CPA used by the club they work out, because they tend to be more familiar with the tax laws related to our industry. Also, www.StripAndGrowRich.com was working on getting together a referral list of CPAs, but I'm not sure if that has been completed.

    Quote Originally Posted by PrincessJenny View Post
    must be real complex if pro's need to be involved.
    ...
    Does the IRS have an online version yet?
    Pros don't HAVE to be involved, but most entertainers miss things they could be taking as write-offs, so it could depend on how detailed you want to be.

    You can file taxes online, & if you don't make much there are tons of places that you can file your state & IRS taxes for free.
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    Default Re: Taxes?

    You have to pay a quarterly federal income tax on a deadline which is usually an estimate % from what you had made. Also have to make sure you take out your Medi and SS and do that when everyone else files for their income. The percentages are on the IRS website under self-employed/independent contractor I believe. It actually seems pretty easy, except I wouldn't know what to write off.

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    Default Re: Taxes?

    Quote Originally Posted by misselise07 View Post
    I never even got my 1099 forms back last year but I made waaaaaaaaaay under 500. I just got them back for my other "real hourly wage crap jobs"
    ive only gotten one site (flirt4free)send me a 1099. jenny was right about sm not sending one bc i made way more than 500 last year and didnt recieve one.

    By the irs standard though, just bc we dont receieve a 1099 doesnt get us out of not filing every year. It's our own responsibility to keep records of our income to file

    Personally i just hire a cpa. If you had a regular job i could see you doing ityourself, but being self employed i like to get the max deduction possible, bc they like to stick it to us in the usa

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    Default Re: Taxes?

    Anything you use for your cam shows is deductible...toys, lube, outfits, stockings, shoes, make up, hair dye, wigs, computers, printer paper, office space (if you do it full time and can prove the space is used for the sole purpose of your business) internet service (again, if you are full time and can prove that is what you use your internet for), web cams, etc.

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    Default Re: Taxes?

    What about Canada? My parents always just take all my paperwork and "send it to their guy" but I'm pretty sure I always get screwed over, so this year I'm NOT going to "their guy" - plus, he'd totally tell my parents I cam. But I don't know how to even give the appropriate info...


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    Default Re: Taxes?

    I filed my taxes all the time in Canada using HR block.

    I have posted many times on here about isng taxdomme.com or sexquire.com
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    Default Re: Taxes?

    Doing a search now, thanks in advance haha


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    Default Re: Taxes?

    Question

    If you get yourself a tax preparer, do you have to tell them that you're a webcam model and also does this applies to IRS? I would prefer another term to use as being self employee when it comes to file taxes just any term other than webcam model or anything to easy reveal being in the xxx business.

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    Default Re: Taxes?

    You can say its comission on sales, your an affiliate for a hosting company and you sell web space.

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    Default Re: Taxes?

    Quote Originally Posted by missginger View Post
    ive only gotten one site (flirt4free)send me a 1099. jenny was right about sm not sending one bc i made way more than 500 last year and didnt recieve one.

    By the irs standard though, just bc we dont receieve a 1099 doesnt get us out of not filing every year. It's our own responsibility to keep records of our income to file

    Personally i just hire a cpa. If you had a regular job i could see you doing ityourself, but being self employed i like to get the max deduction possible, bc they like to stick it to us in the usa

    you are so right, i must have read the 1099 thing crosseyed , sorry!!!

    Here is what streamate says for anyone that wants it...

    Are my services being taxed?
    As a Streamate Limited performer, you are considered to be an independent contractor. All related taxes are your responsibility. Streamate Limited is a NON-US company, based in Cyprus. We do NOT send 1099s each year to performers. Please consult the tax requirements in your area for any special requirements.

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