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Thread: 1099 question

  1. #1
    God/dess Jay12's Avatar
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    Default 1099 question

    Does MFC issue 1099 to their models? I know SM does and that's one of the main reasons I'm reluctance towards going back to SM.





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    Veteran Member Decalyn's Avatar
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    Default Re: 1099 question

    What's wrong with a 1099? If you're trying to avoid taxes, you'll get caught on it eventually, so you may as well get a little piece of paper that makes record keeping easier.
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    God/dess Jay12's Avatar
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    Default Re: 1099 question

    I much rather use excel to keep track of everything (like I've done since 2010), than having like five different 1099 from several websites and 1099 made by myself to show club earnings. Plus, I get two w-2 as well.





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    Default Re: 1099 question

    Yes they do. All US cam sites do, and soon enough EVERY cam site will. What's funny is that several girls (even ones who knew better) worked on Streamate solely because they didn't issue 1099s so they could underreport their income and then earlier this year Streamate was like SURPRISE!!! WE ARE NOW ISSUING 1099S FOR EVERYONE FOR THE LAST FEW PREVIOUS YEARS!!! And a lot of girls got screwed I'm sure with being audited. So go into camming knowing YOU WILL be outed, THERE IS a paper trail (its online so of course), and you will get a 1099 from every site eventually.


    Quote Originally Posted by Jay12 View Post
    I much rather use excel to keep track of everything (like I've done since 2010), than having like five different 1099 from several websites and 1099 made by myself to show club earnings. Plus, I get two w-2 as well.
    If you are already tracking everything, then it should be no different from the 1099 they generate. You could always file without 1099s and then ammend them later anyway. Or not even include them. I think you're supposed to, but as long as you file that you made more than the 1099s combined claim, then you're technically fine.

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    Featured Member Charlotteslut's Avatar
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    Default Re: 1099 question

    Does anyone know if SM will be mailing tax info to those outside of the states? Like Canada?

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    Veteran Member AngeXx's Avatar
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    Default Re: 1099 question

    Maybe I'm just an "odd" one here....but I'd prefer TO GET a 1099. While I do keep track of everything on my own, it gives me comfort knowing I'm getting a 1099. Perhaps with all the illegal things out there, it makes me feel a tiny bit better knowing that I can prove I got it from something that is not illegal. Just saying....

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    Senior Member KillKeely's Avatar
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    Default Re: 1099 question

    Quote Originally Posted by Charlotteslut View Post
    Does anyone know if SM will be mailing tax info to those outside of the states? Like Canada?
    from what i gather, it is our responsibility to report/pay taxes on our camming income as an 'independant business'.
    I'm not 100% on this though, and have been trying to dig around to figure this out myself >.<
    My one friend who cams doesnt report anything, but I don't want that to bite me in the butt later on in life

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    Default Re: 1099 question

    All I can comment is this ...

    In 2010 essentially no foreign webcam host sites issued official reports of independent contractor income to the US IRS. As a result of laws passed in 2011 that are binding on foreign banks that do business in the US, foreign webcam hosts ( actually the foreign banks making money transfers on behalf of foreign webcam hosts ) were required to issue independent contractor income reports to the US IRS for 2011 as well as for previous years. While not all foreign webcam hosts / banks have fully complied with these new IRS rules, for a fact US camgirls who worked for foreign webcam hosts in 2010 and 2011 and who chose not to file tax returns / report their income to the IRS in 2010 and 2011, are likely to experience an 'unpleasant surprise' as IRS computers attempt to automatically locate non-existant camgirl tax returns corresponding to the 1099 income reports from foreign webcam hosts that the IRS is now receiving.

    The point of course is that just because foreign webcam hosts aren't reporting camgirl incomes to Revenue Canada or the UK or Aus or whatever gov't tax agency today does not mean that they won't be required to retroactively report camgirl income tomorrow.

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    Featured Member Charlotteslut's Avatar
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    Default Re: 1099 question

    Quote Originally Posted by KillKeely View Post
    from what i gather, it is our responsibility to report/pay taxes on our camming income as an 'independant business'.
    I'm not 100% on this though, and have been trying to dig around to figure this out myself >.<
    My one friend who cams doesnt report anything, but I don't want that to bite me in the butt later on in life
    For sure I will be reporting my taxes from camming this year. But I'm just wondering if they will be sending a paper outline of earnings, etc.

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    Default Re: 1099 question

    I think if they are based in the USA and you make more than $600 a year, you will have a 1099 issued.
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