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Thread: how much do you report?

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    God/dess Emily's Avatar
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    Default how much do you report?

    also, has anyone personally or do you know of anyone who got in trouble for tax evasion?

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    Veteran Member Sara's Avatar
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    Default Re: how much do you report?

    I have a friend who got busted twice by the IRS. Once you get in trouble once they really watch you from then on. The IRS knew all the information that she put on her car loan application, how much she was charging and paying on her credit cards, how much her monthly utilities and rent costs were, and had been watching all of her bank account activity.

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    Default Re: how much do you report?

    sara, what did the irs do to her ? as far as punishment, probably not too much if she turned around and got caught a second time ?

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    Default Re: how much do you report?

    I've been told that I should only declare what I need to declare based upon my living expenses, loans I need to pay off, etc etc.

    For me.. I only need to earn $270 each of 3 shifts per week to make what I need to comfortably live.... so I declare my income as such unless it can be traced. If so.. then I declare all income that can be traced.



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    Default Re: how much do you report?

    I declare all of it and keep journals of tip out to all personel, and house - dance fees, keep receipts for costumes, shoes, hair extensions and the like. I file quarterly ( I live in the United States) then have my tax person put all my other profits and expenses on Schedule C. Yes, I have had to pay out the butt( I would owe about $2000), but it is the only way to show a paper trail that enabled me to buy a house with a tipped income. Now that I have a house, spouse and child, I actually get good sized refunds.
    **Live Long And Prosper**

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    Veteran Member Sara's Avatar
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    Default Re: how much do you report?

    sara, what did the irs do to her ? as far as punishment, probably not too much if she turned around and got caught a second time ?
    She got a VERY hefty fine. Out of all the dancers I know, she always made the most. She was making well over $100k/year at the time and was single without children.

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    Default Re: how much do you report?

    When I first started dancing, I was dumb enough to report all of my earnings, I found out shortly therafter that the more you report, the more THEY want back. So now I keep cpoies of all of my tip sheets, and I report only what can be followed back to me.(Utility bills, bank account...)

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    Default Re: how much do you report?

    I report all of it- I am living outside of my home state and want to start school soon and have to show my tax slip as proof of VA residency.
    The Texas Pin-up Stripteuse!

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    Default Re: how much do you report?

    I report most. I never bother to report what I pay in to the house or in tipouts - I know no one reports what I pay them, and if I don't carry it out of the club it was never mine in the first place. I report most of what I take out of the club, because I have to have something to show for proof of income and because I don't want to risk getting hit up for huge fines and penalties if I'm caught. Better to pay. Anyway just think what shape this country would be in if no one ever paid their taxes!

    Quote Originally Posted by pheno View Post
    When you lead a nontraditional life don't try to measure it with traditional milestones.

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    God/dess Emily's Avatar
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    Default Re: how much do you report?

    Anyway just think what shape this country would be in if no one ever paid their taxes!
    Or if everyone paid what they truly owed!

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    Default Re: how much do you report?

    A dancer at my club says if you live with your parents (or anywhere else where your name isn't on the lease), you can get away with not paying taxes...? It sounds weird but now that I'm thinking about it... before I ever worked at all, I didn't have to pay taxes... if they don't think I'm working... I don't have to pay taxes right? Sorry, probably a dumb question but I don't know about any of this stuff.
    If you think school is hard, try being stupid.

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    Senior Member Tonya's Avatar
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    Default Re: how much do you report?

    A dancer at my club says if you live with your parents (or anywhere else where your name isn't on the lease), you can get away with not paying taxes...? It sounds weird but now that I'm thinking about it... before I ever worked at all, I didn't have to pay taxes... if they don't think I'm working... I don't have to pay taxes right? Sorry, probably a dumb question but I don't know about any of this stuff.
    Do you have a bank account? Car Payment? Credit Cards? Any bills in your name, how about a cell phone? The money to pay for these things came from somewhere. Did the club copy your SS card when they hired you? If you are paying off high credit card bills, saving to buy a house, car, or anything of significant value you need to report enough income so it's on record that you can legitimately afford these things. How do you account for the missing years of unreported income if you get caught? Unless you have a rich sugar daddy paying all your bills , it's safer to report something than not filing at all.

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    Default Re: how much do you report?

    It sounds weird but now that I'm thinking about it... before I ever worked at all, I didn't have to pay taxes... if they don't think I'm working... I don't have to pay taxes right? Sorry, probably a dumb question but I don't know about any of this stuff.
    When you didn't work, you owed no taxes. Taxes are imposed on two things, income and property. Ignoring property taxes for the moment, when you have income, over a certain amount, you owe taxes. Flying under the radar, tax protesting, or just being a non-filer is illegal. It's also getting tougher and tougher to do. Finally, it really hurts you in the long run as it makes it very difficult for you to invest or save for the future. Do your future a favor and start paying your taxes.

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    Default Re: how much do you report?

    for those of you who do not pay tax on ALL your money, where do you put the money that you are not putting in the bank?
    THE MEN ARE ALL THE SAME YOU DON`T LOOK AT THEIR FACES AND YOU DON`T ASK THEIR NAMES YOU DON`T THINK OF THEM AS HUMAN YOU DON`T THINK OF THEM AT ALL YOU keep ur mind on the money and eyes on the wall

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    Default Re: how much do you report?

    For starters, let me say that I personally report my income , and I file a federal tax return plus tax returns in several states. Of course the law requires this, but also since 9/11 the changes in government information sharing now make it virtually impossible to earn significant amounts of money, to not report this income or pay taxes on it, but then to still be able to spend this money someday without getting caught. This situation is even more true this year as 40 states are now directly co-operating with the IRS, sharing financial records and investigative functions.

    Today every bank savings and checking account, every retirement and investment account, every credit card transaction etc. creates records which are immediately available to the IRS and state tax agencies. Also every loan company, every motor vehicle registration, every property deed automatically creates a report to the IRS and state tax agencies. Even major utility bills like electric, gas and phone are available to the IRS and state tax departments. In addition to this, the Patriot Act has even instituted automatic cash transaction reporting requirements, where for example if you purchase more than $1000 worth of money orders on the same day it will be reported to the IRS and state tax agencies.

    IRS and state tax agency computers then automatically put all of this information together, creating a picture of how much money you are spending. The computers then look at how much money you reported as earnings on your tax return. The computers also subtract out some typical amount of money it costs in your area for food, rent, gasoline etc. If the amount of money you are saving and spending does not jive with the amount of money you reported as earnings and paid taxes on, less the typical amount of money someone in your area spends on everyday costs of living, a huge red flag goes up and you can expect to be audited.

    So if you are thinking of stashing your cash earnings in coffee cans and not reporting or paying taxes, this can only work if you never spend more than $1000 at a time, if you never buy a car, if you never buy a house, if you never open a savings or checking account, and if you never make investments or start a retirement fund etc. Once you do any of these things, the IRS and state tax departments will get automatic reports and will start asking where you got the money to allow you to pay for it.

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    Default Re: how much do you report?

    Damn, there goes my plan!
    If you think school is hard, try being stupid.

  17. #17
    Ravin
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    Default Re: how much do you report?

    I was just recently wondering the same thing as I am getting ready to start dancing for the first time. I always figured better safe then sorry but I never realized it was so easy for the govt. to track you.

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