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Thread: Taxes and Dancing

  1. #1
    God/dess Taylorlila's Avatar
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    Default Taxes and Dancing

    How does paying taxes work when you are a dancer? Do you just keep a rcord of how much you make and put money away for taxes? I am totally clueless as to how paying taxes works when you are a dancer.
    Right now and until I'm 21 at the club I'm at I'm a shot girl as well as a dancer so I get waitress wage and am taxed on that, so I don't know if I have to pay additional taxes or not (I would think I would but I don't know what they keep on the books there). I just don't want to end up getting fucked because I wasnt paying taxes . That happened to my mom and she wasnt even working at the time, but I was in school...now she owes oodles to the IRS.
    So just wondering how all you ladies go about your taxes.


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  2. #2
    Member magnificentchacha's Avatar
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    Default Re: Taxes and Dancing

    Read the dollar den forum

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    Default Re: Taxes and Dancing

    basically, you are required to file and pay estimated taxes quarterly, because you are considered to be a sole proprietor business. Social Security and medicare tax (a.k.a. self-employment tax) runs a flat 15.3% of your earnings, with federal income tax and any state and local income taxes being leveed in addition to that in accordance with 'tax brackets'. Typically the combined tax rate runs somewhere between 25% for a part-time dancer in a low tax state to 40% for a full time dancer in a high tax state.

    There are tons of older threads about dancer taxes ... try using the Search function on the purple bar at the top of this page.

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    God/dess Embyr's Avatar
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    Default Re: Taxes and Dancing

    How? 1.) on time. 2.) with the help of a good cpa 3.) by saving receipts for costumes & shoes (hair/makeup don't count as deductions) 4.) Keep all bank/other financial statements 5.) as ^^^ said, use "search."

    oh, did i mention "accurately?"

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    God/dess Deogol's Avatar
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    Default Re: Taxes and Dancing

    - they have plenty of goodies on there. You would be under business/self-employed/entertainment.

    Accountants are not that expensive for quick little things - probably $100 bucks a month if you are simple, easy to work with, and keep good records.

    You want to pay your taxes because you want to prove your earnings for loans/credit cards/rent, etc. Also, paying social security (hopefully) means you will have a check coming in when your boobs reach your knees!

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    God/dess anomar's Avatar
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    Default Re: Taxes and Dancing

    I file my taxes as a dancer (having a family w/ tax history = i'm paranoid about having a clean record). I keep an excel spreadsheet and track the amount of money that I deposit into my bank account. This amount of money covers my expenses every month/money I stick in savings. I hand it all to my cpa & they tell me how much to pay and how much to pay quarterly as well. Then I send in my checks to the government. I'm filing as an entertainer, though I think I'll be able to change my occupation in the next year.

    Needless to say, my cost of living is low.

  7. #7
    AlexxaHex
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    Default Re: Taxes and Dancing

    $100 a month is a little steep, Deogol. Have you known any stripper to pay her accountant that much money? That's crazy.
    I paid $100 one time to file using Turbo Tax (get the one for independent contractors/small businesses).

    What I do is just write down how much I make every night. A computer program like Quicken is good, or even just a simple notebook is sufficient.

    Write down how much you pay in house fees (not tip outs!) and keep receipts (like Embyr said) on all your business expenses. Some deductions can consist of:

    costumes/outfits
    stage cosmetics (not MAC or Chanel)
    business cards
    website hosting
    a business phone line
    any sales training seminars, books, CDs
    etc

    You must pay quarterly estimated taxes (an estimate based on the percentages Melonie outlined above in relation to your earnings - I'd set aside 1/3 of what you make every night for this) or there will be penalties and interest.

    When you are ready to file, gather all your info and enter it into a program like Turbo Tax, or have an accountant do it for you. If it were a simple thing, I'd suggest doing it yourself but there are so many things you might miss. That's how I see it anyway. You'll probably need two different types of forms if you are dancing (independent contractor) AND waitressing (employee).

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    Default Re: Taxes and Dancing

    I got a CPA referred to me from one of the girls. He has been great taking care of me ever since for 2 years in a row now.
    you live like an ivy vine
    you can only survive by clinging onto trees
    that's your flaw
    put down some roots so you can stand on your own
    -Kenpachi



  9. #9
    God/dess Taylorlila's Avatar
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    Default Re: Taxes and Dancing

    how do you find a CPA? I'm just so used to getting my form once a year and going on turbo tax, so this is a whole new boat for me.


    Quote Originally Posted by RoseWhite View Post
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    Banned Melonie's Avatar
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    Default Re: Taxes and Dancing

    ^^^ well if you're already familiar with Turbo Tax, you can get the professional edition ( can do Schedule C 'profit or loss from a business') and still prepare your own taxes. But the kicker is that unlike "employees" where the employer totalizes your income, calculates your estimated taxes, withholds from your paycheck and sends in estimated tax payments for you, as a 'sole proprietor business' you will need to keep track of these things yourself.

  11. #11
    God/dess Taylorlila's Avatar
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    Default Re: Taxes and Dancing

    do you get notified when you have to file or do you just have to keep track of when a quarter year has passed?


    Quote Originally Posted by RoseWhite View Post
    Boner Man, Boner Man,
    Here comes Sweatpant Boner Man,
    Getting some love the only way he can -
    Boner Man.

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    God/dess Deogol's Avatar
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    Default Re: Taxes and Dancing

    Quote Originally Posted by Taylorlila View Post
    do you get notified when you have to file or do you just have to keep track of when a quarter year has passed?
    Most of this is not relevant, but a couple paragraphs are under sole proprietorships and individuals.



    If it looks confusing as hell, then you know why I have an accountant specializing in these matters.

  13. #13
    God/dess Taylorlila's Avatar
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    Default Re: Taxes and Dancing

    ^^^
    yeah...me be looking for an accountant...taxes were complicated enough when they were taken out of my paycheck and I just had to file a return once a year.


    Quote Originally Posted by RoseWhite View Post
    Boner Man, Boner Man,
    Here comes Sweatpant Boner Man,
    Getting some love the only way he can -
    Boner Man.

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    Banned Melonie's Avatar
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    Default Re: Taxes and Dancing

    Lila, it really isn't all that complicated. Depending on how often you dance and how much you earn on the average, and depending on whether you are single or married or have children as dependents, it's pretty easy to estimate a percentage of your gross dancing earnings to allocate towards estimated taxes every quarter. You just have to keep a ledger of how much you earn every night, and on the other side of the ledger keep track of how much you spend on costumes, shoes and other tax deductible items. The only real serious work comes into play when you actually have to prepare and file your tax return next spring.

    the Maine state form for estimated taxes can be found at and the federal form for estimated taxes can be found at

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