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Thread: Phone-sex taxes??

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    Default Phone-sex taxes??

    Hi everyone, just a quick question....how on earth do I file taxes once a year when I'm a phone-sex operator? How do i get proof of income? Keep the bank statements? Ask to be sent checks? I've never filed taxes before in my life since I'm 18 so I'm totally clueless on this. Can anyone help me?

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    Default Re: Phone-sex taxes??

    Quote Originally Posted by sexysadie8 View Post
    Hi everyone, just a quick question....how on earth do I file taxes once a year when I'm a phone-sex operator? How do i get proof of income? Keep the bank statements? Ask to be sent checks? I've never filed taxes before in my life since I'm 18 so I'm totally clueless on this. Can anyone help me?
    All your questions depend on what you mean by being a PSO. Do you work for a dispatch or direct dial company? If you are a contractor with them, you should have already gotten 1099s from them. If you work on platforms, depending on the platform, you will get either a 1099-MISC or a 1099-K, etc. In the case of one particular platform, you only get a 1099-k if your gross is over $20,000 and you have over 200 transactions, but not a 1099-MISC. If you were an actual employee of a company, you should have gotten a W-2.

    No matter what forms you got (or did not get), you do need to report all income (and can take certain business expenses off, but see an accountant for deductions, do not assume). In many cases, you would use a Schedule C to report business income, but that depends on several things, such as if you are a sole proprietor or not. There are other forms you will need to file as well.

    Since you have never filed taxes before, DEFINITELY see an accountant or some one trained in doing taxes the first time. There are exceptions to everything, including what I said above, and only an accountant or some type of tax adviser can tell you how to do things in your particular case.

    Be sure to ask about quarterly estimated taxes as well whomever you see, as you might have to pay some for 2016.

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    Default Re: Phone-sex taxes??

    Quote Originally Posted by PSOcodemonkey View Post
    All your questions depend on what you mean by being a PSO. Do you work for a dispatch or direct dial company? If you are a contractor with them, you should have already gotten 1099s from them. If you work on platforms, depending on the platform, you will get either a 1099-MISC or a 1099-K, etc. In the case of one particular platform, you only get a 1099-k if your gross is over $20,000 and you have over 200 transactions, but not a 1099-MISC. If you were an actual employee of a company, you should have gotten a W-2.

    No matter what forms you got (or did not get), you do need to report all income (and can take certain business expenses off, but see an accountant for deductions, do not assume). In many cases, you would use a Schedule C to report business income, but that depends on several things, such as if you are a sole proprietor or not. There are other forms you will need to file as well.

    Since you have never filed taxes before, DEFINITELY see an accountant or some one trained in doing taxes the first time. There are exceptions to everything, including what I said above, and only an accountant or some type of tax adviser can tell you how to do things in your particular case.

    Be sure to ask about quarterly estimated taxes as well whomever you see, as you might have to pay some for 2016.
    Oh I see. Thank you. I was asking also because I want to know how to file them discreetly so when I look for a job in a few months they won't see I was a phone sex operator. If you file a 1099 do you get to file it under self employment or whatever title you choose? Or is it with the business? Because I'm going to start with NiteFlirt.

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    Default Re: Phone-sex taxes??

    Quote Originally Posted by sexysadie8 View Post
    Oh I see. Thank you. I was asking also because I want to know how to file them discreetly so when I look for a job in a few months they won't see I was a phone sex operator. If you file a 1099 do you get to file it under self employment or whatever title you choose? Or is it with the business? Because I'm going to start with NiteFlirt.
    You don't file a 1099, the place that used you as a contractor does, or that processes credit cards for you. The 1099 does not say why they paid you (your particular job). The company's legal or DBA name does show up on it though. In most general cases, you have little use for the 1099, other than knowing that the IRS has a copy of it, and thus you need to make sure you declare that income on your Schedule C (or whatever you use).

    What you choose to say your business is, kind of depends. But for NF, you are your own business as far as filing taxes go. NF specifically states you are not an employee or a contractor in their terms.

    I had to get a new apartment last year. I did not need to show them my 1099s, but I did have to show them my Schedule C and final amount off my 1040 to show the past years income. If a place asks for 1099s, ask if you can show them your schedule C instead if you do not want to show them the business names of the places that paid you.

    Where you might have issues, is buying a house that you need bank financing for. The paperwork they now require (just the last two years or so) can involve a letter from places that have paid you in the past and you are claiming you still get an income for. There was a very long post about this on a NF forum post by a PSO. The letter/form from NF does state "NiteFlirt", and the website.

    If you talk with a lawyer before beginning work as a PSO, esp as an independent/platform one, they can suggest business entities, and states to register your business in that provide a bit more discretion for everyday things. You do not have to register your business in the state you live/work in in most cases...

    There is way to much one could go into about how to provide some level of discretion, etc as anyone could get into on a forum post. Why you should do some research on your own on business/government sites, and then see an accountant or lawyer who can guide you.

    One bit of advise, DO NOT rely on any specific tax advise you get from forum posts. Well meaning people will post something that is either 100% wrong, or what might be right in their case, but wrong in yours. This goes even with anything I have said :-)

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    Default Re: Phone-sex taxes??

    ^^^ I agree. Hire an accountant that specializes in sex work.

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