Hello everyone. I have been reading through the dollar den for hours now and the more I read, the more frustrated and confused I get. You all seem very very educated about these tax issues so maybe you can shed some light on my confusion...lol.
I'm in Utah now and haven't started dancing yet because I don't see much of a market for it here...lol. Not to mention pasties aren't that appealing to me...Instead, I plan to move back to Dallas, TX and try it there. I've seen a bunch of info about NY and taxes but not much on Texas.
Where can I get more information on the tax laws for Texas?
Are most clubs' "estimated earnings" more or less than you actually make? I was a cocktail waitress in two SC's in TX and they always assumed I made a bit more than I actually did. Maybe other waitstaff made more but a majority of our nights as a whole weren't very lucrative (overstaffing, slow nights).
Say the club I work at considers me a indepenent contractor. Lets also assume I did this as straight as possible and reported everything I made as best I could. Taking into consideration TX laws, what all would I need to come up with at the end of the year? SSI? Medicare? What else? Is it all supposed to be paid in a lump sum? If so, is it more than what I'd be paying at a regular job where it's taken out of each paycheck over the course of the year?
After coming up with ALL that extra lump sum stuff, is dancing even worth it? Do I really come out farther ahead than if I had a regular, everyday, Average-Joe job?
All this tax crap, paperwork and receipt-keeping sure worries me. I'm so afraid that I'll get audited if I make a mistake and with my luck, I probably would! Please help! I'm still deciding if dancing is for me or not and this is certainly something I'd need to get clarified before I take the plunge!![]()
-K-


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id love to only pay 20%!!

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