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01-18-2016, 01:37 PM
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#31
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Valued Poster
Join Date: Mar 31, 2010
Location: Fl
Posts: 154
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Hiring a CPA is expensive. I did that once, but did not feel that I got value for the money. I have been using tax software (locally, not on line) for years with no problem even though my taxes can sometimes be complicated. If you have any investment accounts (Scottrade, etc.) TurboTax will download the info for you to calculate gains and/or losses and put stuff into the correct place. I do a range of stuff and I list "consulting" on Schedule C. Yes, "Entertainer" works just fine as a profession. I know people who work lots of music gigs, or have students for private lessons. That is what they do. For the current purposes, "Entertainer" would work with business code 711510 (Independent artists, writers, and performers).
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01-26-2016, 05:16 PM
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#32
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Registered Member
Join Date: Jan 15, 2010
Location: North TX
Posts: 17
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Accountant
How can I be of service?
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02-08-2016, 09:08 AM
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#33
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Pending Age Verification
User ID: 253093
Join Date: Jul 26, 2014
Location: Paradise
Posts: 165
My ECCIE Reviews
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If you file self employment, say as an entertainer, do you need to have a business license or tax id #? Would this be considered a "sole proprietor"? Thanks for the advise already posted and any to follow.
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02-08-2016, 10:06 AM
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#34
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Valued Poster
Join Date: Feb 3, 2010
Location: Far North side
Posts: 304
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RoxyParker, if you do self-employed, you can get a separate tax ID but it is likely not going to be necessary. And, technically, you are a sole proprietor unless you do an LLC (which would need it's own separate tax ID).
I've heard people have even put 'weed dealer' and file as well as escort. Then, you deduct ordinary and necessary expenses but nothing illegal.
The self employment tax would be the tricky bit. Make sure you get mileage in your deductions.
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02-08-2016, 10:36 AM
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#35
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Pending Age Verification
User ID: 253093
Join Date: Jul 26, 2014
Location: Paradise
Posts: 165
My ECCIE Reviews
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Thank you. So, it seems that a business license is not necessary if claiming self employment. Is this correct? Thanks again!
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02-08-2016, 11:13 PM
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#36
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Account Disabled
Join Date: Jan 5, 2011
Location: Houston
Posts: 8
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There's no tax requirement to have a business license... different types of businesses are regulated differently, and require different licensing (most businesses require no licensing whatsoever), but the IRS isn't concerned with your licensure, only that you report your income.
As a professional entertainer, your income should generally be subject to self-employment tax, and should be reported on Schedule C (an attachment to Form 1040).
I would not recommend that anyone take a flippant attitude and report their job as "weed dealer" or "hooker" especially since you sign the tax return under penalties of perjury... do you really want to tell the government that you're a "weed dealer" and then swear that it is an accurate statement? Something like "entertainer," "performer" or "artist" is benign, and accurate.
PM me for further advice if you would like it... I'm usually not much for posting in the forums.
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02-09-2016, 12:37 PM
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#37
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Pending Age Verification
User ID: 253093
Join Date: Jul 26, 2014
Location: Paradise
Posts: 165
My ECCIE Reviews
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Thank you. You all have been very helpful and I greatly appreciate your taking the time to answer my questions. I hope you all have a great week!
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02-13-2016, 02:49 PM
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#38
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Photographer
Join Date: May 10, 2012
Location: Texas
Posts: 295
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Business license
Quote:
Originally Posted by FlyBoy1701
There's no tax requirement to have a business license... different types of businesses are regulated differently, and require different licensing (most businesses require no licensing whatsoever), but the IRS isn't concerned with your licensure, only that you report your income.
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I think Texas Comptroller rule 3.317, Massage Parlors, Escort Services, and Turkish Baths applies to self-employed escorts
http://texreg.sos.state.tx.us/public...=1&ch=3&rl=317
Many cities also require you to register with them and pay them taxes if you are doing business within their jurisdiction.
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02-13-2016, 04:27 PM
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#39
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Registered Member
Join Date: Jun 15, 2012
Location: Houston TX
Posts: 14
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A couple of other options to consider: the IRS, in cooperation with community organizations, offers free tax preparation through the Volunteer Income Tax Assistance and Tax Counseling for the Elderly programs. Do a Google search for [your town] VITA sites.
I speculate that the original poster is concerned about self-employment matters. Many VITA sites have some expertise with self-employment returns, but it might be a good idea to check before taking the time to drive to a VITA site.
The IRS is also working with several well-known tax preparation software companies to provide web sites where many taxpayers can file their returns for free. Go to www.irs.gov and click on the Free File button on the right side. Study the criteria for each site closely before you start to ascertain whether you qualify to file for free through that site.
I hope this information will allow future readers of this thread to save a little money which they can then spend on hobbying.
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02-16-2016, 09:27 AM
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#40
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Photographer
Join Date: May 10, 2012
Location: Texas
Posts: 295
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Quote:
Originally Posted by Don Sanchez
A couple of other options to consider: the IRS, in cooperation with community organizations, offers free tax preparation through the Volunteer Income Tax Assistance and Tax Counseling for the Elderly programs. Do a Google search for [your town] VITA sites.
I speculate that the original poster is concerned about self-employment matters. Many VITA sites have some expertise with self-employment returns, but it might be a good idea to check before taking the time to drive to a VITA site.
The IRS is also working with several well-known tax preparation software companies to provide web sites where many taxpayers can file their returns for free. Go to www.irs.gov and click on the Free File button on the right side. Study the criteria for each site closely before you start to ascertain whether you qualify to file for free through that site.
I hope this information will allow future readers of this thread to save a little money which they can then spend on hobbying.
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Don't use the VITA service, most of their preparers don't know what they are doing unless it is a Form W-2 only tax return.
Many of the free filing websites are just that, free for filing only. If you want a printout of your tax return, you will have to pay a fee, the lowest I've seen is $25.
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02-18-2016, 04:38 PM
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#41
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Lonesome Degenerate
Join Date: Nov 10, 2015
Location: Wherever the plane takes me.
Posts: 579
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Hmmm...I'm fairly versed in dealing with accountants due to my multiple businesses. Ensure you find a good accountant that is well versed in tax law and regulations. Also, ensure he knows what assets to depreciate.
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02-18-2016, 05:56 PM
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#42
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Pending Age Verification
User ID: 125175
Join Date: Mar 8, 2012
Location: Indianapolis.Indiana
Posts: 2,111
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No free lunch in the adult business
Quote:
Originally Posted by RoxyParker
Thank you. So, it seems that a business license is not necessary if claiming self employment. Is this correct? Thanks again!
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Self employment.
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02-19-2016, 08:04 AM
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#43
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Gaining Momentum
Join Date: Jan 28, 2010
Location: AL
Posts: 91
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Self-Employment/Taxes & Business License
Self-employed people generally use Schedule C as part of Form 1040 to report self-employment income. Also Schedule SE is involved, to calculate and pay the Social Security and Medicare (FICA) taxes on that income. My understanding is that there is no federal tax/IRS requirement for a business license. Business licenses are generally not a tax issue. The requirement to have a business license is generally determined at the local/municipality level. I find that often such requirements are vague and not very clear as to when they are required.
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03-04-2016, 12:11 AM
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#44
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Registered Member
Join Date: Jun 26, 2011
Location: Houston
Posts: 1
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Hello, i am a tax preparer. Have you already done your taxes? I can help if you are still looking. Let me know.
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03-17-2016, 09:02 PM
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#45
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Your Personal Vixen
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I didn't need either...
Roxy...
I did not need a business license or tax ID# when I filed as self employed-entertainer.
I did hire a CPA and just gave her the numbers and she worked her magic.
Quote:
Originally Posted by RoxyParker
If you file self employment, say as an entertainer, do you need to have a business license or tax id #? Would this be considered a "sole proprietor"? Thanks for the advise already posted and any to follow.
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![Like](/images/like.png) | 1 user liked this post
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