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Thread: Confused on percentage for taxes..?

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    Veteran Member Neonsugar's Avatar
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    Default Confused on percentage for taxes..?

    There are a couple threads on this already but I'm confused. I'm sure it varies per state I am from Connecticut. I used to do porn videos (with legit companies, reality kings, team skeet etc) and paid taxes as an independent contractor (filled out w-9's) and had to pay I think 15.6% on that. (With a few right offs) but that was the percentage. Now I'm a dancer and people in other forums say it's around 30%...I'm sure it varies on states but wouldn't I be an independent contractor as well for dancing?? So wouldn't it be the same 15.6% I paid before? Ugh I'm confused help please! And yes I have an accountant I just don't understand why the percentage would be doubled with dancing when porn was 15.6% when I was an independent contractor in that circumstance as well. Thank you!

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    Banned Aniela's Avatar
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    Default Re: Confused on percentage for taxes..?

    I would guess that part of the difference is bc as a dancer you handle all of your expenses yourself, whereas w/ a company such as a porn studio, do they not take care of any of the expenses (SS, medical, etc)? Again, this is just my guess since I know nothing abt porn taxes, don't remember a whole lot abt how vanilla-job taxes(those fine ppl of course do all the work for you) & can barely head-butt my way thru dancer taxes.

    There is the matter of whether the state(s) you were working in then collect a state income tax, as well as where you currently live. More accurately, I believe it depends on what state you declare residency in. My tax-filing process has been the same for all three areas I lived in while dancing, bc altho my home mailing address obviously changed, I maintained a FL drivers licence (kinda illegally didn't bother to change it), maintained FL voter registration, etc.

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    God/dess Zofia's Avatar
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    Default Re: Confused on percentage for taxes..?

    30% is a safe number. Most years, you'll get a little refund, or you can apply your over payment to the quarterly payment, thus reducing that quarter's payment. The effective self-employment tax rate is 13.1%, add on to that your federal and state taxes. Pretty soon you're at 30% of your take out of the club. I always deducted some expenses, like travel to out of town clubs, hotels while I was out of town and some theatrical makeup and costumes.

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    Veteran Member Neonsugar's Avatar
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    Default Re: Confused on percentage for taxes..?

    I just don't understand how it's around 30% if last year as an independant contractor I paid like 16% ugh I'm so confused lol maybe I'll go to h&r block and talk to someone

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    Featured Member Aurora14's Avatar
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    Default Re: Confused on percentage for taxes..?

    There are several factors that determine your tax rate. The state you live in (some states tax, some don't), how much you earned, your deductions, credits, etc. If you made about the same as you did doing porn and your life hasn't had any major changes (kids, marriage), it's a safe assume that you will owe a similar amount. 30% is just a safe number to assume for taxes. It is always better to put aside too much than to not have enough and be screwed.

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    God/dess Mare's Avatar
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    Default Re: Confused on percentage for taxes..?

    15.9 + 15.9 or 32%. It's The 15.9 percent you'd have to pay if you were employed by someone who took care of the other half and since you are self employed you also get to pay for the other 15.9%. So you get butt fucked 32% for the privilege of being your own boss.

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    Default Re: Confused on percentage for taxes..?

    SS +Medicare amounts to IIRC 15.3%, with a W2 job the employer pays half. If you have state income tax of say 5 percent there is that. We have yet to get into actually US income tax. After Exemptions etc the total gets up to that 30% number

    It really is the SS that kills the self employed relatively moderate income person.

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