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Thread: Gifts, taxes and findom!

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    Default Gifts, taxes and findom!

    Lately I have been receiving many tributes from my 'paypiggies.' I am very curious on whether or not I have to claim this on my taxes since they are technically gifts. So how does a findom go about reporting her tributes?

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    Default Re: Gifts, taxes and findom!

    It really depends if your tax laws allow gifts or not. otherwise its all income.
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    Default Re: Gifts, taxes and findom!

    If you're in the U.S then yes, you're allowed a certain amount of gifts before you're required to pay taxes, but if you get audited I'm not terribly sure you could float them as legitimate gifts. If you do camming etc. it may be hard to prove that they were just presents and not in return for any service, and in reality you do offer a service for that money as much as any vanilla customer.

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    Default Re: Gifts, taxes and findom!

    ^^^ indeed the IRS is on record taking a position that any 'gifts' received by a female sex industry worker coming from a male non family member are in fact 'payment for services rendered' ... thus reportable as ordinary income and subject to full taxation.

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    Default Re: Gifts, taxes and findom!

    report it as income and pay taxes on it like you do all other income.

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    Default Re: Gifts, taxes and findom!

    http://www.irs.gov/Businesses/Small-...-on-Gift-Taxes

    The gift tax is very confusing. There are many ways around it and I would suggest talking to a CPA around tax time and figure out what you should or should not claim. The general rule that I follow is that if I get gold or tokens that are equivalent to cash (and MFC and SM report these on your 1099) that I pay taxes on it. If I get gifts in the mail or receive amazon giftcards I do not report that income.

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    Default Re: Gifts, taxes and findom!

    Woooaaahhh...you stumbled upon a heard of unicorns. High fuckin' five!
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