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Thread: do you pay tax? on adultwork or sm ?

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    Member jellybabby's Avatar
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    Default do you pay tax? on adultwork or sm ?

    ??????
    Last edited by jellybabby; 05-20-2012 at 10:00 AM.

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    Default Re: do you pay tax? on adultwork or sm ?

    Yes, it is. Unless you want a hefty fine..?

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    Default Re: do you pay tax? on adultwork or sm ?

    I'm confused.

    Are you asking us if you should evade tax payments (as in, break the law)? Or if the site withholds taxes?

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    Default Re: do you pay tax? on adultwork or sm ?

    Ok let's not jump all over her. She does have two stars by her name.

    First of all, some sites, don't ask for you SSN and just your Photo ID. That can mislead some girls, especially the new ones whether you should pay taxes or not.

    For example, MyGirlFund. They take their cut and you take yours. There is no form sent out at the end of the year. MyFreeCams for example, they will send you a form at the end of the year. Although this year they were a month fucking late doing it.

    In all honesty, it is a personal choice whether you want to file the taxes for camming. I know a lot of girls who don't. I know a lot do. It just depends on which way you want to do it. There are a few girls that I know, that will only work on sites, that they don't give out their SSN to and just their ID and stay under the radar that way. One girl I know has been doing it for years. However, in that respect, as long as you aren't drawing attention to yourself, to each their own.

    In any event, if they aren't asking for the SSN, they aren't sending you a form and it's up to you to figure out if that's what you wanna do in regards to taxes. But the company will have the 2257 records, I believe, but don't hold me to that. I don't like sites that ask for my SSN, but I will work on them anyways - I just have that Computer Forensics degree to know where my information is going and I don't want anyone to get ahold of that. Another example - I have been getting phone calls for loan extortion scams, where they "think" they have my information, telling me I am in criminal trouble and trying to get money from me when they verify it.. Just information alone you have to be careful, so make sure the site is verified. Always look here for a reference on how a site works before you sign up. Lots of shady business as well.

    But if you are going to file taxes under some sites that do ask for that information, you are self-employed. If you don't file, you are looking at seriously deep poo poo. It's that simple. Many girls, no matter what, file the taxes. Whereas some girls, stick to keeping under the radar with the other thing. Most girls may not agree with how I put this, but that's the trend that I personally see happening and have witnessed.

    None of the sites, withhold the taxes, you have to do it yourself. There are threads here that explain that if you look for them.
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    Default Re: do you pay tax? on adultwork or sm ?

    I think what these ladies are saying is, you have to pay the tax yourself lol, the camsites don't do it, they just take percentages for themselves.. Not for tax purposes x


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    Default Re: do you pay tax? on adultwork or sm ?

    I wasn't jumping all over her.

    I was asking for clarification AND answering one of the possible questions, at the same time.

    I didn't want to waste time writing a long-ass answer to a question she's not asking.

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    Default Re: do you pay tax? on adultwork or sm ?

    The original question was 'is it a good idea to pay tax?'. I was simply saying that it is.

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    Default

    Search for 'uk tax' and simillar, as there's a few threads. It's a different tax system in the us.

    Pay your taxes, otherwise they will eventually find out and get the money then, plus numerous fines on top of that. You can even go to court for tax evasion. Xx

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    Default Re: do you pay tax? on adultwork or sm ?

    With regard to NOT filing (if that's what you're asking), keep in mind that that SM never issued 1099 statements... until right after lots of people filed taxes this year. Then they decided to issue for 2011. A couple months later, they issued for 2010. (For US camgirls only.)

    So... anyone who decided to NOT report income in 2010 and/or 2011 and made enough to be legally required to report it will now be on the IRS's radar. Just an fyi.

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    Default Re: do you pay tax? on adultwork or sm ?

    Quote Originally Posted by Cam_Model_Jess View Post
    I wasn't jumping all over her.

    I was asking for clarification AND answering one of the possible questions, at the same time.

    I didn't want to waste time writing a long-ass answer to a question she's not asking.
    I know - but it is so hard to sit here and judge how anyone types, with the emotional texting anymore. I was the new girl once, I just know how it feels to ask those stupid questions and get the snarky answers at times.

    We all can be pretty intimidating to a new girl or potential new girl is what I was just saying.
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    Default Re: do you pay tax? on adultwork or sm ?

    So... anyone who decided to NOT report income in 2010 and/or 2011 and made enough to be legally required to report it will now be on the IRS's radar. Just an fyi.
    Indeed, for US camgirls, even though it's only a month after the filing deadline for 2011 tax returns, the IRS computers are undoubtedly already compiling a list of 'missing' tax returns to go along with the 1099 automatic reports by webcam hosts to the IRS of money paid to those US camgirls. And indeed once a camgirl winds up on the IRS 's#!t list', i.e. for 'willful failure' to file and pay income taxes, it's extremely likely that the IRS will continue to pay very close attention to her future year income reporting / tax return filings.

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    Default Re: do you pay tax? on adultwork or sm ?

    Since I wasn't being snarky, I don't see the problem. If it's hard to judge how people type, then I suggest not doing it. I understand that this is an issue in this forum, and pretty much everywhere on the internet these days, and thus ask for clarification before answering questions.

    Peace out.

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    Default Re: do you pay tax? on adultwork or sm ?

    Take a chill pill girlies! Back on topic..

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    Default Re: do you pay tax? on adultwork or sm ?

    Quote Originally Posted by Vlodina View Post
    Search for 'uk tax' and simillar, as there's a few threads. It's a different tax system in the us.

    Pay your taxes, otherwise they will eventually find out and get the money then, plus numerous fines on top of that. You can even go to court for tax evasion. Xx
    There's also a stickied thread at the top of the forum about paying taxes.


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    Default Re: do you pay tax? on adultwork or sm ?

    what cam sites send you out a form??

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    Default Re: do you pay tax? on adultwork or sm ?

    If you want to have a life with your money (ie buy things like houses, cars, investments) its a good idea to be down with the tax man.



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    Default Re: do you pay tax? on adultwork or sm ?

    what cam sites send you out a form??
    That's really impossible to answer at this point. Under new IRS / US banking laws, EVERY webcam host is arguably required by US law to generate and automatically send 1099 forms to the IRS and state tax dept's for all moneys paid to US camgirls. While there are still a few foreign based webcam hosts who did not do that for 2011 earnings, there's absolutely no guarantee that they won't send 1099 forms for 2012 ( i.e. current ) earnings.


    If you want to have a life with your money (ie buy things like houses, cars, investments) its a good idea to be down with the tax man.
    Indeed. With exponential growth of computing power and instant communications, every gov't that is strapped for tax money is trying to 'close the loop' between the amount of money spent by a particular citizen versus the amount of income they reported as having earned in the first place. This has led to automatic reporting requirements in the USA for everything from buying a house to buying a car to paying college tuition to bank / investment / retirement accounts to > $3000 'cash' transactions to > $1000 money order purchases. Thus even if a dancer or camgirl accumulates many thousands of dollars worth of unreported ( and untaxed ) cash earnings, if she attempts to spend that money on anything that costs more than a couple of thousand dollars, anything that requires a license or registration etc. it won't take long for the IRS to come knocking on the door wondering how it's possible that this person spent more money than she officially 'earned' !!!

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    Default Re: do you pay tax? on adultwork or sm ?

    I don't look good in orange jumpsuits!

    i report and pay it all even on sites that don't issue a 1099. It's still income and they will eventually catch it. I also deduct every single thing possibly allowed.


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    Default Re: do you pay tax? on adultwork or sm ?

    Quote Originally Posted by xbellex View Post
    what cam sites send you out a form??


    I remember getting one before from MyFreeCams and (Streamate studio that I'm not with anymore).
    My referral link for models to join the Boleyn Models daily pay program
    https://cammodelpay.com/ref?page=&campaign=&affToken=NDcx

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    Default Re: do you pay tax? on adultwork or sm ?

    Streamate sends them out. As far as I know, they're only reporting for US models. However, it's arguable that they will start reporting for all countries (likely Canada first). The US requires that foreign companies report income paid to US citizens, and it's reasonable to expect that other countries will follow suit.

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