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Thread: Taxes.... DIY vs Accountant?

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    Veteran Member Ladycaxe's Avatar
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    Default Taxes.... DIY vs Accountant?

    Gonna do my taxes for the first time. Can I just do it myself online? I definently know where I can make some deductions...

    If I must go w/ an accountant, Can anyone recommend any in Las Vegas?

    Thank u !
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    Veteran Member Jalena's Avatar
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    Default Re: Taxes.... DIY vs Accountant?

    I have done it both ways. My experience with doing taxes online has been ... less than stellar. I don't feel comfortable giving details on a public forum, but it's been problematic enough that I would just shell out for a professional to take care of it. And that was just for regular straight-job taxes, not dancer taxes with all the deductions and whatnot.

    H&R Block did well by me. I may have gotten lucky though, because I asked when I called to make my appointment with them if they had someone experienced in adult work taxes and they did. So to that end, you may have to hunt around a bit.

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    God/dess Selina M's Avatar
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    Default Re: Taxes.... DIY vs Accountant?

    I do my own. It can be tedious but if you are organized and double check your math, it's fine. I would feel ripped off paying an accountant $300 to do something that takes me an hour.

    Another thing is that many are not versed in stripper deductions and too heavy handed with write offs. Search on here the phrase "housewife test". Writing off things like nails and outfits can be a red flag if you got audited randomly. There was even a court ruling about how large implants must be to qualify as a business expense.
    "People jack off with the left hand and point with the right."

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    Veteran Member Ladycaxe's Avatar
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    Default Re: Taxes.... DIY vs Accountant?

    Quote Originally Posted by Selina M View Post
    I do my own. It can be tedious but if you are organized and double check your math, it's fine. I would feel ripped off paying an accountant $300 to do something that takes me an hour.

    Another thing is that many are not versed in stripper deductions and too heavy handed with write offs. Search on here the phrase "housewife test". Writing off things like nails and outfits can be a red flag if you got audited randomly. There was even a court ruling about how large implants must be to qualify as a business expense.
    I would really rather do it myself haha. Do you just use the tax irs gov website?

    I cant imagine it being too difficult..... my club said they would give me a receipt or something of how much money I made during VIP.
    I would deduct tip out, house fees, uber to and from work... I dont see how outfits and and shoes aren't a reasonable deduction, but I digress...


    Shouldn't be too difficult right?
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    Veteran Member Jalena's Avatar
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    Default Re: Taxes.... DIY vs Accountant?

    Shoes you should be able to get away with, and maybe some outfits, but I would be careful on those. Makeup for the most part has been determined to not be deductible.

    Might be worth it to have your first run at dancer taxes done by a professional, just to be certain you don't miss any of the deductions you're entitled to and don't get tripped up trying to write-off something that's a no-no. That way you will definitely know what's good and what's not for future filing. When I had mine done, I didn't just send in my paperwork and let them worry about it; the accountant actually sat down with me and we went over all my stuff to find what was and wasn't deductible. I don't remember the cost but it sure as hell wasn't $300 There is also a lot of info on here about what you can and can't write off.

    This coming tax season I will have both straight job and dancer numbers to crunch, and I am very poor with numbers as it is, so I will definitely be going to a pro.

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    Default Re: Taxes.... DIY vs Accountant?

    Quote Originally Posted by Jalena View Post
    <snip> ... and I am very poor with numbers as it is, so I will definitely be going to a pro.
    TurboTax or the other popular one will do all the math for you. Shop around for a good price on it. That is also deductible. ;-)
    Originally Posted by
    I don't know what it is about me that says "wife me up." Everyone wants to choke me or date me. Or both. This job is weird.


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    Veteran Member Jalena's Avatar
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    Default Re: Taxes.... DIY vs Accountant?

    Quote Originally Posted by CFMNH44 View Post
    TurboTax or the other popular one will do all the math for you. Shop around for a good price on it. That is also deductible. ;-)
    I did TurboTax and got fucked over. Ended up having to take it to a pro anyway to fix it.

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    God/dess indiegirl's Avatar
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    Default Re: Taxes.... DIY vs Accountant?

    Quote Originally Posted by Ladycaxe View Post
    Gonna do my taxes for the first time. Can I just do it myself online? I definently know where I can make some deductions...

    If I must go w/ an accountant, Can anyone recommend any in Las Vegas?

    Thank u !
    I don't think it matters where you live. I was filing out of state before I finally moved back to Cali. I pay 1 grand a year for mine....he saved me 12 thousand dollars my first year with him compared to an escort/stripper friendly one who also did my taxes....she took MONTHS to calculate mine and I wound up never going with her again. 1000 for him vs 150 for her and he saved me 12 grand the first year.....worth the price tag for an expensive one. He's the tax guy for some shady club I worked at years ago lol.

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    Default Re: Taxes.... DIY vs Accountant?

    Why is turbo tax bad? I've used it for years and pay A LOT for the program bc you get charged for each return you do. I usually do federal, then at least a couple of state returns as well as purchase audit protection. This year, I'll be filing corporate on top of all that. Is turbo tax really that bad?

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    God/dess indiegirl's Avatar
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    Default Re: Taxes.... DIY vs Accountant?

    Quote Originally Posted by ZeroSugarMonster View Post
    Why is turbo tax bad? I've used it for years and pay A LOT for the program bc you get charged for each return you do. I usually do federal, then at least a couple of state returns as well as purchase audit protection. This year, I'll be filing corporate on top of all that. Is turbo tax really that bad?
    I tried them as well as a company in San Francisco when I was first starting out dancing and thought they were BS. I save more money owing taxes being self employed going through the one I have now...he's a former irs agent as well.

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    God/dess arielbriel's Avatar
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    Default Re: Taxes.... DIY vs Accountant?

    I would go to a pro. Ask your friends in the industry who they go to. Also, the cost of your accountant is also deductible.

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    God/dess Selina M's Avatar
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    Default Re: Taxes.... DIY vs Accountant?

    Quote Originally Posted by Ladycaxe View Post
    I would really rather do it myself haha. Do you just use the tax irs gov website?

    I cant imagine it being too difficult..... my club said they would give me a receipt or something of how much money I made during VIP.
    I would deduct tip out, house fees, uber to and from work... I dont see how outfits and and shoes aren't a reasonable deduction, but I digress...


    Shouldn't be too difficult right?
    I actually do paper forms like an old lady, haha. I find it easier than flipping between documents.

    They're not deductible per the 'housewife test' because you have no way to prove they were explicitly for work. I would MAYBE do the shoes but definitely not outfits. Every Jill and Jane these days takes pole classes and dresses up for their husband, so that's the thought process. It's up to you ultimately but I found it to be such a negligible tax break that it wasn't worth the potential trouble should anyone scrutinize it.
    "People jack off with the left hand and point with the right."

    "You can check out any time you like, but you can never leave."

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    Default Re: Taxes.... DIY vs Accountant?

    The first year, go with a CPA or enrolled agent. Pay close attention to how they set up your books and how they set up your returns. Make sure, you get quarterlies and you annual return done. In subsequent years, it's just really repeat with the new numbers. I do my own personal taxes, but I'm a CPA by training. That said, in subsequent years you should be able to do just what your first CPA did without any trouble. The down side is, you won't have someone to go with you in the event of an audit.

    Deductions. Well, if you file a Schedule C you can take all ordinary and necessary business expenses as deductions. In our line of work, that's really not that much. Forget about gym memberships. Forget about commuting expenses to and from work. You only get mileage if you travel out of town on a dancing trip, or are a travelling dancer. Same for hotel rooms and meals. In fact, meals are just difficult to deduct and not really worth the effort. Costumes, make sure you get a receipt that says costumes, are generally deductible. Dancing shoes, not so deductible. Panties, probably not. Beauty treatments are generally not deductible. Pole classes are not deductible in the first year you dance, or in years before you become a dancer. But, in subsequent years, an argument can be made for pole classes. Airfare for an out of town gig is usually deductible as is parking at the airport. Same for train fare and Uber or Lyft out of town. I can make a good argument for Uber or Lyft to and from the airport for a business trip. No way can you deduct Uber or Lyft going to and from in town clubs. Makeup, maybe theatrical makeup is deductible. Makeup you buy at the mall is definitely not.

    Open a business checking account. Open a business credit card. Pay all your business expenses through the business checking account and/or the business credit card. Pay off the business credit card from the business checking account. The IRS calls that a "culture of compliance." Try to avoid paying business expenses from your personal bank accounts, credit or debit cards. The IRS says those look like personal expenses. Forget about deducting medical care, including boob jobs, and health insurance unless you have really high medical expenses. (I mean really really high.) Boob jobs are deductible if the implants are over 3000cc.

    HTH,
    Z

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    Default Re: Taxes.... DIY vs Accountant?

    As a travel dancer when I lived in LA, I had substantial traveling costs.

    When I worked as an escort in LA, some in SF, I had substantial ad costs that could add up to as much as 2k/month.

    I still deduct my hair and nails because it is in accordance with the look that is required at the club, not something I require staying at home all day when I'm not at work.

    If you are incorporated, I'm pretty sure you can deduct mileage going to your independent contract assignments.

    Otherwise, I'm completely screwed.

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