Results 1 to 9 of 9

Thread: Is there a way to file my own taxes from working at MFC as a dependent?

  1. #1
    Member CamBabe's Avatar
    Joined
    Aug 2013
    Posts
    34
    Thanks
    16
    Thanked 20 Times in 11 Posts

    Crossfingers Is there a way to file my own taxes from working at MFC as a dependent?

    Im 19 and I still live at home. I recently decided to start camming to set aside extra money for when I move out. I work full time as a custodial worker supervisor at a hotel, and from my understanding my employer takes out taxes from my paycheck so I dont have to file anything...EXCEPT when I want a tax return, correct?So when I want to file my self employed taxes and take it to H&R Block, my parents dont have to know I work as a camgirl...right?Sorry I just need to make sure..thanks..

  2. #2
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: Is there a way to file my own taxes from working at MFC as a dependent?

    there are lots of threads on this particular topic in Dollar Den. In your particular case, working as both an 'employee' and operating an independent contractor webcam 'business', you won't have any IRS filing issues as long as you have your straight job 'employer' increase your paycheck tax holding enough to cover the additional taxes due on your camming income. Of course if you wind up earning $300 a week from camming, that will mean having your straight job 'employer' take an extra $100 a week out of your straight job paycheck for estimated tax withholding on your camming income.

    Keep in mind that, as a 'dependent' of your parents, you can't claim yourself as a 'dependent' when you file your taxes. This means you will have to pay additional taxes. Also keep in mind that tax brackets are set up progressively, such that the combined income from two sources will be taxed at a higher rate than either income source is taxed by itself.

  3. #3
    Member CamBabe's Avatar
    Joined
    Aug 2013
    Posts
    34
    Thanks
    16
    Thanked 20 Times in 11 Posts

    Default Re: Is there a way to file my own taxes from working at MFC as a dependent?

    Okay, that makes sense. I'm still kind of new to this whole taxes thing and I probably dont understand everything but for now, I'm good. Thank you. ♥

  4. #4
    Senior Member ThatBitch's Avatar
    Joined
    Dec 2012
    Location
    Las Vegas
    Posts
    184
    Thanks
    81
    Thanked 560 Times in 132 Posts
    My Mood
    Cheeky

    Default Re: Is there a way to file my own taxes from working at MFC as a dependent?

    If you make over the minimum limit for filing requirement, you have to file a tax return whether you've paid in all year or not. If you're working a full time job, then you will definitely make more than the minimum to be required to file a return.

    Also, Melonie is right in saying you can't claim yourself as a dependent if your parents are claiming you as their dependent. BUT, considering your full time job, I'm thinking your parents might have trouble justifying claiming you as their dependent. They have to be able to prove that they paid for more than half of your support for the year, and your income from a full-time job plus camming will make that a bit shaky.

    Your parents do not have to know you work as a camgirl. But I would take my taxes to almost anyone BUT H&R Block. Look up a local accountant who can help you get all the business deductions possible, and who can advise you on record-keeping and such. H&R Block does NOT do the best job of that, as they're just a churn and burn setup mainly good for people who don't have their own businesses or special circumstances like you - they're mostly good for people with simple tax returns getting big rapid refund checks from earned income credit. This will not be you. Ask around for a good accountant in your area.
    ---- ----


  5. The Following 2 Users Say Thank You to ThatBitch For This Useful Post:


  6. #5
    Member CamBabe's Avatar
    Joined
    Aug 2013
    Posts
    34
    Thanks
    16
    Thanked 20 Times in 11 Posts

    Default Re: Is there a way to file my own taxes from working at MFC as a dependent?

    I've research for probably about close to two hours and I'm still in a way confused. I'm not the smartest girl around at all, BUT the fact that my parents do NOT have to know I cam is all I need to know, so thanks. Also, I decided to rent out a PO Box that'll send my 1077 tax form so it doesnt come in the mail..just in case my parents get to it first!! Thanks for the help guys.


  7. #6
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: Is there a way to file my own taxes from working at MFC as a dependent?

    The only worry here is that, if your own income from your straight job plus camming adds up to more than say 1/4th the amount of money that your parents earn, even if you don't attempt to claim yourself on your own tax return the IRS may raise a fuss over who actually provided 51% of your support. This could result in both you and your parents being audited by the IRS, with the question looming large as to where all of your reported earnings came from in the first place. However, if your parents earn $100k a year and you earn $10k then no worries.

  8. #7
    Member CamBabe's Avatar
    Joined
    Aug 2013
    Posts
    34
    Thanks
    16
    Thanked 20 Times in 11 Posts

    Default Re: Is there a way to file my own taxes from working at MFC as a dependent?

    Quote Originally Posted by Melonie View Post
    The only worry here is that, if your own income from your straight job plus camming adds up to more than say 1/4th the amount of money that your parents earn, even if you don't attempt to claim yourself on your own tax return the IRS may raise a fuss over who actually provided 51% of your support. This could result in both you and your parents being audited by the IRS, with the question looming large as to where all of your reported earnings came from in the first place.
    Okay, now I'm kind of nervous. Because I only have one parent that works and they don't make alot. We're...poor. I think. A little below middle class, so I MIGHT make more than my parents. o m g.
    The thing is though, I have dual citizenship. When I sign up with MFC, should I sign up as a non-american?? That way I won't have to pay file the 1077 file, right? I don't live in the states, by the way. I live in another country but it is US territory. I have both an "american" address (US territory) and my home country address. Will that do anything?


  9. #8
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: Is there a way to file my own taxes from working at MFC as a dependent?

    ^^^ with you residing in a US territory, with the IP address you will be camming from belonging to a US territory, and with MFC being a US based company, I don't think that you can dodge the issuance of a 1099 by MFC. Now if the IP address you were camming from belonged to a different country, signing up as a citizen of that different country would probably work.

  10. #9
    Member CamBabe's Avatar
    Joined
    Aug 2013
    Posts
    34
    Thanks
    16
    Thanked 20 Times in 11 Posts

    Default Re: Is there a way to file my own taxes from working at MFC as a dependent?

    My IP address is of my home country. Cool. Thanks, Melonie!


Similar Threads

  1. Taxes as a student/independent contractor/dependent
    By dianadixon in forum Dollar Den
    Replies: 5
    Last Post: 01-15-2012, 12:27 PM
  2. so do you have to file for taxes if you? ....
    By xxxGothBarbie in forum Dollar Den
    Replies: 7
    Last Post: 12-28-2011, 08:05 AM
  3. marriage + taxes + dependent?
    By Corgan in forum Dollar Den
    Replies: 5
    Last Post: 11-22-2008, 11:19 PM
  4. How do u file dj taxes???
    By GentGoldClubDjTito in forum Dollar Den
    Replies: 1
    Last Post: 12-01-2004, 04:18 AM
  5. How do you file taxes for dj's
    By GentGoldClubDjTito in forum Music Mix
    Replies: 6
    Last Post: 11-30-2004, 10:22 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •