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Thread: Question about income tax

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    Member LatinaDancerNJ's Avatar
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    Default Question about income tax

    Hello all,

    I am thinking about start dancing. I have a question in regards taxes, do you know if the clubs report to the goberment how much money you make? Do we as dancers have to report all our income to the IRS? How or what most of you handle this goverment requirement (income taxes)?

    Thanks in advance,

    Love,

    Latina
    Marilu

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    God/dess Emily's Avatar
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    Default Re:Question bout income tax

    Most clubs treat you as independent contractors and don't report to the government what you make. You are responsible for reporting your income and sending in your tax payments every quarter.

    You'll find that most dancers stay under the radar and don't report anything, but who wants to live like that? I means you can never save or buy a house, and if you have nothing to show for it when you're done dancing, what's the point of earning it? Conversely, dancers on this website a little more money-savvy than the average dancer and many of us do pay our taxes. However, those that don't are quiet about it for obvious reasons....so you are not going to get a straight answer on your last question.

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    God/dess montythegeek's Avatar
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    Default Re:Question about income tax

    Emily is right.

    The enforcement of tax laws is like speed limits--not perfect but potentially disasterous if caught.

    The law says you pay or we get you. If you do not pay and get caught you are screwed for up to 30-40% of the income you did not pay taxes on PLUS having to pay taxes on ongoing income when you are not used to it. If the Feds catch you they are not going to keep it a secret from the state and vice versa.

    Odds of getting caught? If anyone gets caught for any reason they will rat out others to get penalities cut. This includes a bar owner who squeals on dancers when he gets caught for allowing extras or skimming drinks as well as the dancer who's hubby was audited for unrelated activities and lost. As Melonie loves to say the odds of getting away with not paying are going down fast--as fast as technology allows the tax man to track money flows. Ten years ago the odds were in your favor, today they are around 50-50 but the risk/reward balance is very biased to make the punishment a lot worse than pain of paying.

    Emily is also quite right about the benefits of being above ground. Wanna buy a house some day--show us your 1040 abd where did that $50 K come from?. Wanna rent a nice apartment--tax forms please. Wanna buy a car--run a credit check....oops you do not exist so we can't loan you money. Chuck the money in a bank account and pay cash? The computers catch you.

    Add to all this--they do not have to catch you today, they can catch you next year or for years if they smell fraud.

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    Default Re:Question about income tax

    The best thing about not working W2 is the write offs. i can make 150,000 a year and still write it all off.

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    God/dess Emily's Avatar
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    Default Re:Question about income tax

    what are you writing off?

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    Default Re:Question about income tax

    Quote Originally Posted by Emily link=board=27;threadid=12321;start=msg159274#msg15 9274 date=1092935210
    what are you writing off?
    Lol my question exactly!!

    heres my 2 cents.

    Get a accountant or small business acountant.The tax laws in every state are different,and those change every year.Its just to much for anyone to keep up with and get it right.
    Besides,you can write off their expense next year.

    There is alot of money out there,and its all cash and carry.The smart entertainers know how to keep above ground and start stocking up assets for the day when they retire.

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    Default Re:Question about income tax

    Quote Originally Posted by Emily link=board=27;threadid=12321;start=msg159274#msg15 9274 date=1092935210
    what are you writing off?
    i have a great accountant. I write off my cell phone, Armani suits, dinners anything i can make look work related. After all why not buy a $1200.00 Armani if its coming from the government.

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    Default Re:Question about income tax

    Quote Originally Posted by Pazzo link=board=27;threadid=12321;start=msg159320#msg15 9320 date=1092937737
    Quote Originally Posted by Emily link=board=27;threadid=12321;start=msg159274#msg15 9274 date=1092935210
    what are you writing off?
    i have a great accountant. I write off my cell phone, Armani suits, dinners anything i can make look work related. After all why not buy a $1200.00 Armani if its coming from the government.
    Ummm... because dishonesty is not the best policy?



    Because there ain't no tits on the radio

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    God/dess montythegeek's Avatar
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    Default Re:Question about income tax

    Quote Originally Posted by verfolgung link=board=27;threadid=12321;start=msg159268#msg15 9268 date=1092935009
    Gee Monty from reading your post I'd almost draw this conclusion....

    Cheat on your taxes for as long as you can, then if YOU get caught rat out all the other dancers, bartenders, club owners etc. to minimize YOUR penalty. It almost sounds like if you know enough other tax cheaters, then you have a built in cushion to fall on if you happen to fall into that % of those who get caught.

    BTW - I am in no way advocating this. Of course if you play the game like this, you better hope to be the first person in your group to get caught or else all the people you planned to offer up in a deal might be already named.
    I never said you got off scott free, you just escape penalties. To the best of my knowledge you still owe the original taxes plus interest so the theory only mitigates the damages a bit. There are damn few people who would start out to join the mob just so they could end up in Iowa in the witness protection service. At this point people will grasp at straws to throw themselves on the mercy of the IRS.

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    Banned BigGreenMnM's Avatar
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    Default Re:Question about income tax

    It was my understanding that you could NOT do that.Any suit had to be considered a uniform,something generally not worn anywhere else.So unless Armani added a rhinestone line to its double breasted suits,i find it hard to belive that you can write it off.
    I call your bluff.

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    Default Re:Question about income tax

    Quote Originally Posted by BigGreenMnM link=board=27;threadid=12321;start=msg159330#msg15 9330 date=1092938161
    It was my understanding that you could NOT do that.Any suit had to be considered a uniform,something generally not worn anywhere else.So unless Armani added a rhinestone line to its double breasted suits,i find it hard to belive that you can write it off.
    I call your bluff.
    i'm required to wear a suit to work. the IRS doesn't look at each recipt i have. I give them to my accountant , he does the work, i don't ask questions.

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    God/dess montythegeek's Avatar
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    Default Re:Question about income tax

    Quote Originally Posted by BigGreenMnM link=board=27;threadid=12321;start=msg159330#msg15 9330 date=1092938161
    It was my understanding that you could NOT do that.Any suit had to be considered a uniform,something generally not worn anywhere else.So unless Armani added a rhinestone line to its double breasted suits,i find it hard to belive that you can write it off.
    I call your bluff.
    First GMM is right if he gets caught (see speeding analogy).

    Second, you worget that even "writting it off" you are paying at minimum 61% of that 1200 (max tax rate is 39% so even if you suceeded you are paying (1-.39)*1200)
    Add
    Required to wear a suit and a VALID deduction are not the same thing. It is valid only if the suit is different than the "usual and customary" standard epitomized by the houswife-rule.

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    Default Re:Question about income tax

    Ummm... I'm required to wear clothes outside of my home... so can I right them off? Oh and it's a university policy to wear shoes to school...... so free Blahniks for me?!?! Who wants to come shopping?



    Because there ain't no tits on the radio

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    Member LatinaDancerNJ's Avatar
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    Default Re:Question about income tax

    Girls,

    Thank you very much to all for your advice and in-sight on this topic. To be on the safe side I will get a lawyer who specializes on self contractors and I will pay my taxes, I will make sure to send payments quarterly, I guess the question now is what % should I put aside for taxes? What is the average % I should pust aside for tax payments?
    Marilu

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    Banned BigGreenMnM's Avatar
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    Default Re:Question about income tax

    Quote Originally Posted by Pazzo link=board=27;threadid=12321;start=msg159333#msg15 9333 date=1092938376
    Quote Originally Posted by BigGreenMnM link=board=27;threadid=12321;start=msg159330#msg15 9330 date=1092938161
    It was my understanding that you could NOT do that.Any suit had to be considered a uniform,something generally not worn anywhere else.So unless Armani added a rhinestone line to its double breasted suits,i find it hard to belive that you can write it off.
    I call your bluff.
    i'm required to wear a suit to work. the IRS doesn't look at each recipt i have. I give them to my accountant , he does the work, i don't ask questions.
    Yea,i gotta wear a monkey suit also,only i have most of mine hand made for half the cost of a suit with someones name on it.I got stubby legs so its hard to buy off the rack,even if its Armani.They fit better,better material,and they last longer.

    why dont you post a pic of your Armani(with you in it)

    either way,do you think anyone would ever pay Armani price for a suit if they could write it off???Everyone who is required to wear a suit and tie would be wearing Armani.

    You might want to check your accountants credentials again before tax season.You Cant write off a suit,unless its something that isnt worn in general situations.IE rhinestones,company logo,clown suit,etc.

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    Featured Member The_Kid's Avatar
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    Default Re:Question about income tax

    LATINA- I don't know what the income tax rate in
    N.J. is. I pay Fed, state & city. Together they add
    up to about 50% on my distributions; my salary is
    subject to with-holding. If you're a single taxpayer,
    no dependents ( kids) you pay the highest rate.
    You have to pay on or before Jan. 15; April 15; June 15
    and Sept. 15. I'd sock away 40% each quarter just
    to play it safe. Get a couple quarters under your belt
    and you might be able to put away a smaller %.

    Try to get an acct. experienced in working with dancers.
    He's the best one to tell you what you can get
    away with.

  17. #17
    God/dess threlayer's Avatar
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    Default Re:Question about income tax

    If you get a W-2 from your employer, they are treating you as an employee, whether or not you are in actuality. This is the default status of a worker.
    You are required to file a return whether or not you owe any tax; and if you owe none, it is the only way to get your refund, AFAIK.

    If you get a 1099 from your "employer," that means the company is treating you as an independent contractor. This is the default INVESTIGATE status of a worker. The Fed and State knows about your income and eventually they will come demanding a return. It is your responsibility to pay state and federal estimated income taxes. If you don't pay estimated tax, and file a return owing tax, you will be hit with the tax, interest and penalties. Plus you may be audited.

    Generally if the company asks your Social Security Number, they do so in order to report your income to the governments. They will want to deduct any such payments made to you that they have to record for their own records, so they can reduce their income tax.

    I'll bet there are plenty of strip-clubs that try not to report anything for themselves. If you report income from them, they could be investigated by the tax people. Too bad; protect yourself.

    Strippers and Clubs, PLEASE pay your taxes. Don't stay underground and hide from a real life and your responsibilities. The rest of us have to make up for what you don't pay. And you will sleep a lot better. Just remember to be aggressive about your costs of doing business.

    Also, the more you know about taxes, the LESS you will have to pay. However, if you don't, just watch yourself and keep hiding.

    I loved going to strip clubs; I actually made some friends there. Now things are different for the clubs and for me. As a result I am not as happy.

    Customers are not entitled to grope, disrespect, or rob strippers. This is their job, not their hobby, and they all need income. Clubs are not just some erotic show for guys to view while drinking.

    NOTE: anything I post here, outside of a direct quote, is my opinion only, which I am entitled to. Take it for what you estimate it is worth.

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    Default Re:Question about income tax

    Quote Originally Posted by BigGreenMnM link=board=27;threadid=12321;start=msg159378#msg15 9378 date=1092940689
    Quote Originally Posted by Pazzo link=board=27;threadid=12321;start=msg159333#msg15 9333 date=1092938376
    Quote Originally Posted by BigGreenMnM link=board=27;threadid=12321;start=msg159330#msg15 9330 date=1092938161
    It was my understanding that you could NOT do that.Any suit had to be considered a uniform,something generally not worn anywhere else.So unless Armani added a rhinestone line to its double breasted suits,i find it hard to belive that you can write it off.
    I call your bluff.
    i'm required to wear a suit to work. the IRS doesn't look at each recipt i have. I give them to my accountant , he does the work, i don't ask questions.
    Yea,i gotta wear a monkey suit also,only i have most of mine hand made for half the cost of a suit with someones name on it.I got stubby legs so its hard to buy off the rack,even if its Armani.They fit better,better material,and they last longer.

    why dont you post a pic of your Armani(with you in it)

    either way,do you think anyone would ever pay Armani price for a suit if they could write it off???Everyone who is required to wear a suit and tie would be wearing Armani.

    You might want to check your accountants credentials again before tax season.You Cant write off a suit,unless its something that isnt worn in general situations.IE rhinestones,company logo,clown suit,etc.
    Do you hvae an obsession with my suits ? LOL

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    Banned BigGreenMnM's Avatar
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    Default Re:Question about income tax

    Quote Originally Posted by Pazzo link=board=27;threadid=12321;start=msg159406#msg15 9406 date=1092943432
    Quote Originally Posted by BigGreenMnM link=board=27;threadid=12321;start=msg159378#msg15 9378 date=1092940689
    Quote Originally Posted by Pazzo link=board=27;threadid=12321;start=msg159333#msg15 9333 date=1092938376
    Quote Originally Posted by BigGreenMnM link=board=27;threadid=12321;start=msg159330#msg15 9330 date=1092938161
    It was my understanding that you could NOT do that.Any suit had to be considered a uniform,something generally not worn anywhere else.So unless Armani added a rhinestone line to its double breasted suits,i find it hard to belive that you can write it off.
    I call your bluff.
    i'm required to wear a suit to work. the IRS doesn't look at each recipt i have. I give them to my accountant , he does the work, i don't ask questions.
    Yea,i gotta wear a monkey suit also,only i have most of mine hand made for half the cost of a suit with someones name on it.I got stubby legs so its hard to buy off the rack,even if its Armani.They fit better,better material,and they last longer.

    why dont you post a pic of your Armani(with you in it)

    either way,do you think anyone would ever pay Armani price for a suit if they could write it off???Everyone who is required to wear a suit and tie would be wearing Armani.

    You might want to check your accountants credentials again before tax season.You Cant write off a suit,unless its something that isnt worn in general situations.IE rhinestones,company logo,clown suit,etc.
    Do you hvae an obsession with my suits ? LOL
    ummm yea,im a stoner with a boner just thinking about you in a suit.
    Please post a pic of you in an Armani suit so i can blow it up poster sized and spank my monkey to it in the pale moonlight.

    It might also prove to the forum that your not just talking trash.

  20. #20
    God/dess VenusGoddess's Avatar
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    Default Re:Question about income tax

    I keep all of my receipts for everything related to my dancing...make-up, clothing, lingerie, shoes, etc. The things I do not write off are the things that I can wear in my everyday life. Regular make-up (not MAC), regular clothing (jeans, etc), regular lingerie, non-stripper shoes, etc. Those are a no-no to write off. I guess I COULD write those off...but I would hate to get audited and have to explain that.

    If you are 1099, then you can write off a lot more than being an employee...but, it's better to let an accountant handle the numbers.

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    God/dess Emily's Avatar
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    Default Re:Question about income tax

    I'm afraid to write off questionable things like make-up and clothing even if they are legitimate write-offs only because I know they are red flags, and the less attention, the better.

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    Default Re:Question about income tax

    I'm very honest on my taxes. I only write off what I have receipts for and what is a legitimate business expense. Nothing more, nothing less. It may raise a red flag, but if you have the proof...then what is there to be afraid of?

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    Veteran Member playboycntrfold's Avatar
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    Default Re:Question about income tax

    hmmm *scratches head* sounds like I need to hire a personal accountant. My head hurts from all the thinking! LOL

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    Default Re:Question about income tax

    Does anyone write off their CDs as an expense? If you are independent, you can write mileage (car mileage, that is) to work and back, to pick up suppies, etc. There some advantageous ways to depreciate your auto for the percentage you drive as business mileage. Get a book and read about all those things; think of them as providing additional sources of income. You can probably think of more things than your tax man, but you should work together on these ideas.
    I loved going to strip clubs; I actually made some friends there. Now things are different for the clubs and for me. As a result I am not as happy.

    Customers are not entitled to grope, disrespect, or rob strippers. This is their job, not their hobby, and they all need income. Clubs are not just some erotic show for guys to view while drinking.

    NOTE: anything I post here, outside of a direct quote, is my opinion only, which I am entitled to. Take it for what you estimate it is worth.

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    Default Re:Question about income tax

    All this and more can and probably has been answered in the DOLLAR DEN folder. Shouldn't this thread be moved ? I'm just making an observation. I would post a more 'on topic' reply but I know this has all been said in that folder over many threads.


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