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Thread: First time doing taxes. HELP!!!

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    Default First time doing taxes. HELP!!!

    I told my parents I was doing my taxes and they flipped out.

    The clubs where I work don't have any type of information on me. They don't keep any kind of records of what the girls make. They don't even keep records of which girl worked which night. I didn't start depositing any money in the bank until 2004, so I don't have any bank account statements proving my income. I do not have receipts from any of the costumes or shoes I bought for work. The only thing I have to prove my income is the record of my earnings I've kept over the past year.

    I didn't know that a dancer could file taxes. So I never kept receipts.

    I don't work a lot. I earned just enough money to pay my bills so I can concentrate on what I'm really interested in (which is music).

    I received about 20 grand from my Grandfather as a gift a few years back. I didn't know I had to report it on my taxes and I was audited. My parents think that this, along with the fact that I don't have a paper trail, is a good reason that I shouldn't report my income.

    Their main argument is that I can't prove that I made the money that I claim to have made and that I can't prove that I made it the way I said I made it. They told me if it was that easy to file taxes, every "dealer" would be doing taxes instead of getting locked down.

    The questions that I have are:
    1) Given my current situation, would the IRS believe I actually made the money dancing?
    2) Will they really believe that I'm a dancer since I only made $30 grand and most dancers make more?
    3) If I file, do I have to file as an exotic dancer, or could I use a more general term like, "entertainer"? I do music videos, modeling, and musical performances, in addition to dancing, although I earn little money from them?
    4) Do you have to have a paper trail to file taxes?

    PLEASE HELP!!!

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    God/dess Emily's Avatar
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    Default Re:First time doing taxes. HELP!!!

    With all due respect, your parents are not tax experts and are giving you bad advice.

    While you may not have put money in the bank, you may have put money towards credit cards, a car, rent, etc. Basically, there is probably a paper trail of you having SPENT money, so there is evidence that you had money. If you didn't earn it, where did it come from?

    I don't understand what the $20,000 gift has to do with 2003. And just because you can't prove how you made it, it doesn't make it non-taxable.

    Of course the IRS would believe you made it dancing (why would they not?)
    If they way you spend money indicated you made about 30,000, then yes, they will believe it.
    You can put entertainer, model, dancer, whatever.
    And heck no, you don't need a paper trail. Your parents are dead wrong about that. How do you think self-employed people pay taxes?

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    God/dess montythegeek's Avatar
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    Default Re:First time doing taxes. HELP!!!

    You work in industry
    711510 Dancers, independent
    defined as
    This industry comprises independent (i.e., freelance) individuals primarily engaged in performing in artistic productions, in creating artistic and cultural works or productions, or in providing technical expertise necessary for these productions. This industry also includes athletes and other celebrities exclusively engaged in endorsing products and making speeches or public appearances for which they receive a fee.
    According to the Census Bureau
    To see the other fine folks in this category go to
    http://www.census.gov/epcd/naics02/def/ND711510.HTM
    Since this category include freelance DJs, cartoonists and composers as well as celebrity spokespeople, making $30K would not set off any bells. Plus you worked part time and a less than "normal" income for a part time person is not surprising.

    If absolutely nothing else you can pay taxes on 2004 income.
    You do know you need to file q1 estimated taxes by April 15th.

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    Default Re:First time doing taxes. HELP!!!

    It sounds to me like your parents are upset that they will not be able to claim you as a dependent on their own tax return !

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    Default Re:First time doing taxes. HELP!!!

    I'd like to thank all of you for responding. I feel so much better about filing now, knowing that I've talked to other people in a similiar position!

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    Default Re:First time doing taxes. HELP!!!

    Your parents are giving you bad advice, you are earning money (over $7,000) and under the law you are required to file your taxes. I highly recommend doing so as it will help establish a credit history for you. This will help tons when you want to go buy a new car or house down the road.

    If you do file at $30,000 be prepared to pay some taxes because you will owe some.

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