Results 1 to 7 of 7

Thread: First time filing, need reportable income!

  1. #1
    Newbie
    Joined
    Dec 2013
    Location
    nawlins
    Posts
    5
    Thanks
    0
    Thanked 5 Times in 3 Posts
    My Mood
    Daring

    Default First time filing, need reportable income!

    First of all hey ya'll and thanks for reading. Basically, I am just now getting out of a situation of extreme poverty, have terrible credit, and need reportable income. Dancing is the only job I can hold down due to multiple disabilities, but I can't get disability yet and honestly dont want to. I can only report from the last month as of now but neeeeed proof of income. How do you go about filing taxes when you have only worked shortly but need that income proof immediately? I trust ya'll more than google and wanted to ask here. Thanks so much for listening!

  2. The Following User Says Thank You to cinnamonbuns For This Useful Post:


  3. #2
    God/dess SnuffleUffleGrass's Avatar
    Joined
    Mar 2009
    Location
    HearstCastle, Rosebud
    Posts
    5,381
    Thanks
    10,955
    Thanked 9,808 Times in 3,880 Posts

    Default Re: First time filing, need reportable income!

    AFAIK the IRS allows you to just file one document if you only make $10K in reportable income annually.

    Beyond that you have to file a 1040 EZ.

    Most gov/ agencies will accept check stubs. A social worker should have better answers.

    I do know getting SSDI approval takes a bit longer than it used to....structure your finances so you have some emergency cash available.
    He who controls the spice controls the universe, chingada madre

    LA Woman, You're My Woman- The Doors













  4. The Following User Says Thank You to SnuffleUffleGrass For This Useful Post:


  5. #3
    Moderator
    Joined
    Jun 2013
    Posts
    831
    Thanks
    603
    Thanked 1,367 Times in 537 Posts

    Default Re: First time filing, need reportable income!

    The IRS does not need proof of income, they are happy to accept the taxes you are paying.

    I guess you could use your IRS forms as proof of income for another purpose, since most people assume you would not be silly enough to pay taxes on money you do not have

    Right now you would be paying quarterly estimates for Q3

  6. The Following User Says Thank You to oldster For This Useful Post:


  7. #4
    Featured Member
    Joined
    Sep 2010
    Posts
    1,092
    Thanks
    3,490
    Thanked 2,469 Times in 828 Posts
    My Mood
    Lonely
    Blog Entries
    9

    Default Re: First time filing, need reportable income!

    I want to help, not sure I have good advice. I can share some of the ways I’ve gotten on paper. Take what you, and leave the rest.

    What about web camming or niteflirts as a side hustle? Then you could show a check going into your bank account. Work as a cashier or waitress at the club on some days to get a pay stub? I found out Niteflirts doesn’t report to the irs if it’s under like 10 k, but it could possibly leave a paper trail for future employement.

    I’ve gone into H and R block (they are expensive though) and just told them to file taxes .i just print out a calendar and guess my income write it out on the calendar. The first year I didn’t pay quarterlys, but the next year I had to. I found a cheap accountant for $40 in the low income part of town and she was cool and helped me out. Im bad at keeping records. She didn’t ask any questions and kind of was more understanding.

    Maybe your social worker has better answers if she’s safe to be honest with?
    Last edited by Ifyouseekamy; 09-13-2018 at 02:41 PM.

  8. #5
    Newbie
    Joined
    Dec 2013
    Location
    nawlins
    Posts
    5
    Thanks
    0
    Thanked 5 Times in 3 Posts
    My Mood
    Daring

    Default Re: First time filing, need reportable income!

    Quote Originally Posted by Ifyouseekamy View Post
    I want to help, not sure I have good advice. I can share some of the ways Iíve gotten on paper. Take what you, and leave the rest.

    What about web camming or niteflirts as a side hustle? Then you could show a check going into your bank account. Work as a cashier or waitress at the club on some days to get a pay stub? I found out Niteflirts doesnít report to the irs if itís under like 10 k, but it could possibly leave a paper trail for future employement.

    Iíve gone into H and R block (they are expensive though) and just told them to file taxes .i just print out a calendar and guess my income write it out on the calendar. The first year I didnít pay quarterlys, but the next year I had to. I found a cheap accountant for $40 in the low income part of town and she was cool and helped me out. Im bad at keeping records. She didnít ask any questions and kind of was more understanding.

    Maybe your social worker has better answers if sheís safe to be honest with?
    Thank you, your answer helped me the most and seemed to get my question the best! I was figuring I'd walk into a tax place and just go for it. I have been on Niteflirt and hated it. Also, my club is already decided about who gets to waitress or not. It's small, and on top of that I need the flexibility of being an independent contractor. I really am only concerned about filing taxes to be able to rent an home and all of that good stuff. With my credit and due to a terrible ex my rental history is destroyed, and I need some amount of govt assistance for health insurance, and as an independent contractor they will only accept proof of income by filing taxes. Basically I need to file taxes to move forward and to keep insurance. Thanks for the info! I also dont have a social worker anymore and being in tn wouldnt be very open to one. Im putting disability on the back burner, taxes will also help me with that in the future. They like to see that you tried lol.

  9. The Following User Says Thank You to cinnamonbuns For This Useful Post:


  10. #6
    Featured Member Zofia's Avatar
    Joined
    Apr 2002
    Location
    Durham, North Carolina
    Posts
    1,984
    Thanks
    1,061
    Thanked 1,306 Times in 599 Posts

    Default Re: First time filing, need reportable income!

    First, Cinnanmonbuns, welcome.

    Second, open a business checking account at a bank or credit union with lots of local ATMs.

    Third, deposit all the money you make each shift in your checking account after each shift.

    Fourth, out of that account pay any of your stripping related expenses. Keep receipts for your stripping related expenses. After your expenses, reserve at least 30% for your tax bill. Over and above that, you can take the remaining funds as your draw.

    Fifth, deposit your draw in your personal checking account.

    Sixth, go to a real accountant, not H&R Block, or worse Liberty. Only use a CPA or Enrolled Agent. They will set you up with how to file income taxes, state and federal. You might want to do quarterlies this year rather than wait. Explain to your accountant why. She or he will help.

    This will set you up with a record of income (your nightly deposits), expenses (your payments of stripping related expenses from the business account) and taxes from your CPA and your holding 30% in your business checking account to pay the taxes.

    Good luck! Girlfriend.

    XOXO
    Z

  11. #7
    Veteran Member
    Joined
    Dec 2014
    Posts
    446
    Thanks
    2
    Thanked 497 Times in 248 Posts

    Default Re: First time filing, need reportable income!

    If you've worked shortly, you wouldn't be able to use a tax return just yet because you simply don't have it and wont until at least this year is over. I would open a business account as advised above and start depositing your money and deducting your expenses. Stripping/Modeling/Dancing/Adult Entertaining/Consulting (some adult industry folks advised me to use consulting as your job/business title) is your business. You might want to incorporate into an llc at some point bc with the Trump tax reform, I believe it makes a lot of expenses for sole proprietors no longer subject to a deduction unless they are incorporated and if incorporated, more so than previously. With the cash in your bank account, you can say your job title is any of the above things or as a lot of ppl have said on here, tell ppl you are a waitress. You make 2.50hr but thats withheld for taxes and your money is all tips. As noted above, yes, about 30 percent of your $$$ after expenses will need to go to taxes. Down the line, you might wanna open a self-employed ira or 401k to put money into to lower your taxes more. I used a sex-work specific tax preparer my first year but have been using turbo tax and doing it all myself since then. If you like challenges and headaches, you can try and do taxes yourself via turbotax or you can hire a cpa or enrolled agent as noted above. I moved to a less competitive, less judgemental area as of late, so have no issue with financing a car or getting a decent apt with several years of tax returns. In LA esp and some in NYC, I've experienced a lot of discrimination and harassment even with good credit and liquid assets (even much more so than the San Francisco Bay area!), so how you disclose your source of income and how ppl react will depend on what region of the country you live. Bad credit and no money might be more an issue. Good luck and hope you make mad money!
    Last edited by ZeroSugarMonster; 09-16-2018 at 04:52 PM.

  12. The Following User Says Thank You to ZeroSugarMonster For This Useful Post:


Similar Threads

  1. Replies: 8
    Last Post: 05-18-2017, 06:40 PM
  2. Filing late taxes for 2011 (PSO income) advice needed
    By funkymamagia in forum Other Work
    Replies: 6
    Last Post: 10-15-2012, 12:50 PM
  3. Replies: 1
    Last Post: 02-07-2012, 11:58 PM
  4. Correlation between Income and Time on SW?
    By Bird of Paradise in forum Camming Connection
    Replies: 14
    Last Post: 12-08-2011, 08:24 AM
  5. Ahhhhhhh!!!! First Time EVER Filing Taxes.
    By RicanAsianMa in forum Dollar Den
    Replies: 15
    Last Post: 02-17-2009, 12:19 PM

Tags for this Thread

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
  •