If you are taking your web modeling business seriously
you got to pay taxes.
Otherwise sooner or later you’ll get in trouble with IRS that will
result in fines and other problems. If you are making money but haven’t
filed your taxes yet hurry up! April 15 is the deadline to file taxes
(in US) and it’s coming close.
If the word Taxes scares you, don’t worry! There are many things you can
write off
your earnings which will leave you paying taxes on significantly
smaller amount. So for example if you made $15,000 a year and spent
$7000 for your business needs you will pay taxes only on remaining
$8,000.
To file taxes you need the help of
accountant. Don’t
even bother doing it yourself. Accountants charge $50 – $200 but these
money well worth it to make sure that everything is done right. Or you
can use online services like
TurboTax that will guide you through the whole process. But it may get complicated and it costs money too.
You should file taxes as
self employed. As for the
title of your job try to come up with something that doesn’t imply that
it’s adult oriented. Many girl use “web model” and “webcam model”.
You do need to
keep track of your expenses that you
are going to write off. Those who file taxes as self-employed randomly
get audited so you should be able to back up your expenses. The best way
to keep track of your business expenses is to have separate credit card
that you only use for things relating to your business. This way all
your expenses will be in one place. Otherwise you’ll have to keep all
your receipts. If you do collect the receipts make sure that you
highlight which expenses are for business use in case there are other
items on the receipt.
