byLink to OP: on March 30, 2010http://www.icammodel.com/beginner-cam-model-tips/camgirls-file-taxes.html
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.
And now as promised here is the list of things you can write off. Note that some things can only be partially written off depending on how much you use them for the business. For example if you work from home you can write off your electricity expenses but only about 30% depending on how much you work per day. Here is the list:
- percentage of rent
- apartment repairs
- office supplies
- computer equipment
- caming equipment
- beauty products
- internet advertising
- cam room decorations
- cosmetic surgery
- train tickets