Is this really legitimate??

[tiatate]

I thought about posting this in the Providers area, but worry it wont get much traffic. Besides I'm sure some of you gents are more knowledgeable than most about taxes.
So I'm trying to get a decent head start on taxes this year. This is my first year of being a provider. But I incoperated my company much earlier this year. My goal is to get it on the books so I can start to attain real assets though my company and growing its credit. Blah Blah.
Anyway being nosey the other day, just surfing through the internets I found a "Sex & Relationship Coach / Expert Author/ Tantric Practitioner" while her website seems legit, I wonder if its a cover. A GOOD COVER??

It seems as if saying this is your career, it would allow for all kinds of write offs! Even condoms! lol

I want to post the link, but I dont know if that is violating her privacy, especially if she is provider using this as a cover.

What do you guys think? As a first year biz owner, would this be a good route to take? or would it spark even more interest and cause me to be audited?

[Crock]

I'm pretty sure I read an article about a "tantric practioner" in Arizona being busted.

In no way am I a tax expert, but my understanding is that it's not legal to deduct expenses from an illegal business. In other words, maybe you get away with it for several years, but then you get busted once. Will that little ol' misdemeanor bust result in you facing federal tax charges down the line?

You may want to pay a professional to advise you on this, instead of consulting a bunch of providers and hobbyists (although there may be tax professionals here that you can talk to).

[Guest071118]

This is more of a tax question threAd. Moving to the sandbox.

[Chung Tran]

your biography says "I am highly degreed in academia in my field", and you say you incorporated.. I assume your only earnings are not generated from pussy rental.

quite frankly your motives appear to be impure.. why do you want to mention prostitution at all? I believe you simply want to write off expenses from pussy rental, to lower your SE tax on your other business. you aren't going to insult my intelligence and say you desire to report and pay all taxes owed on all sources of income.. I know that is not true, from your line of questioning.. Crock is correct, it is illegal to deduct expenses from illegal activity..

[thebear69]

you are paying doubles taxes, first on your corporation and then personal, best to eliminate the corporation and save yourself some money

[Chung Tran]

Originally Posted by thebear69

you are paying doubles taxes, first on your corporation and then personal, best to eliminate the corporation and save yourself some money

extremely unlikely.. you are jumping to conclusions, LOL.. number one, from the way she is talking, there may be no taxes to pay, PERIOD. second, it is highly unlikely she is anything but an LLC or an S Corporation, so your statement is not true.

[Last Ride]

Talk to a professional CPA.

[DocHolyday]

Originally Posted by Chung Tran

your biography says "I am highly degreed in academia in my field", and you say you incorporated.. I assume your only earnings are not generated from pussy rental.

quite frankly your motives appear to be impure.. why do you want to mention prostitution at all? I believe you simply want to write off expenses from pussy rental, to lower your SE tax on your other business. you aren't going to insult my intelligence and say you desire to report and pay all taxes owed on all sources of income.. I know that is not true, from your line of questioning.. Crock is correct, it is illegal to deduct expenses from illegal activity..

Man, I can always count on Chung to offer some sound logic on a variety of subjects.

[jayt4567]

why even file taxes on unrecorded illegal cash income. If you want legitimate income record and build credit provide a service or product that is legal.

If you are looking for way to wash the dirty money then i suggest opening a business that offer service opposite from the illegal activity you are currently in.

[Zee Man]

Look pretty gal... you need to dismiss most of what you have read in this thread and consult with a CPA/tax attorney. One secret of success is to know what you don't know, and where to get the help that does....

[tiatate]

Originally Posted by Crock

I'm pretty sure I read an article about a "tantric practioner" in Arizona being busted.

In no way am I a tax expert, but my understanding is that it's not legal to deduct expenses from an illegal business. In other words, maybe you get away with it for several years, but then you get busted once. Will that little ol' misdemeanor bust result in you facing federal tax charges down the line?

You may want to pay a professional to advise you on this, instead of consulting a bunch of providers and hobbyists (although there may be tax professionals here that you can talk to).

Yea, that was mainly what I was questioning, the legality of it all. How legitimate is being a "tantric practitioner" or "Dating coach". The woman even claims to go on 2 dates with the guy to give them "feedback" on dating techniques, all for the small fee of $595. She also explicitly mentions that all relationships are platonic and she doesn't engage in sex on the website, a few times.
I know the IRS doesn't particularly care how the money is made, but I figure they would if an audit is ordered. right?

Originally Posted by Chung Tran

your biography says "I am highly degreed in academia in my field", and you say you incorporated.. I assume your only earnings are not generated from pussy rental.

quite frankly your motives appear to be impure.. why do you want to mention prostitution at all? I believe you simply want to write off expenses from pussy rental, to lower your SE tax on your other business. you aren't going to insult my intelligence and say you desire to report and pay all taxes owed on all sources of income.. I know that is not true, from your line of questioning.. Crock is correct, it is illegal to deduct expenses from illegal activity..

lol my motives ARE technically impure. I want to start getting my own business adventures off the ground, it would be great to have substantial credit and tax history to do that. All my earnings aren't from providing, but it definitely brings in more than the RW gig. I would like to cover my tax bases and grow the business at the same time.
That being said, good point, getting caught for illegal deductions is just as counterproductive as being caught for evasion anyway.
But that goes back to my main question, how illegal is this "tantra" stuff?

[Chung Tran]

Originally Posted by tiatate

But that goes back to my main question, how illegal is this "tantra" stuff?

depends on how much of a "cover" it is, if any.. could be a hybrid of legal/illegal, like, say, a Masseuse who rubs for 20 minutes, then fucks for 15. I hear of people who call themselves a "life coach", I always wonder what the fuck they think they offer, LOL.. but people pay them.

the more difficult it is to figure out a business purpose, the harder it will be to deduct expenses.. "ordinary and necessary" are the criteria to deduct expenses, so strange, undefinable operations find it difficult to defend strange write-offs. IRS loves low-hanging fruit, especially when it hangs low in first-year businesses.

[tiatate]

Originally Posted by Last Ride

Talk to a professional CPA.

Maybe, but I dont think I'm rolling in dough enough for that. Also they are not obligated to keep my secrets quiet I thought. if they aren't sex worker friendly, I worry I'll implicate myself.

Originally Posted by jayt4567

why even file taxes on unrecorded illegal cash income. If you want legitimate income record and build credit provide a service or product that is legal.

If you are looking for way to wash the dirty money then i suggest opening a business that offer service opposite from the illegal activity you are currently in.

aint no body got time fo that! Lol jk thats the goal, will have a few legal businesses but as I like to always produce classy content. & my biz is a reflection of me, I plan on waiting for my super legit biz.

[thebear69]

If you are an S corp or LLC you pay corporate taxes and in Texas there is a thing called the Franchise Tax. You then pay personal income tax, Tran you might be on this board a lot but there are some things you need to learn about the business world.

[Chung Tran]

Originally Posted by thebear69

If you are an S corp or LLC you pay corporate taxes and in Texas there is a thing called the Franchise Tax. You then pay personal income tax, Tran you might be on this board a lot but there are some things you need to learn about the business world.

no you don't.

an LLC pays the same as a sole proprietor, that is regular tax and SE tax.. no corporate tax.. an S Corp is a pass-through entity, that is income is passed to the shareholder(s) as regular income, no corporate tax paid. only a C Corporation pays corporate income tax as a separate entity.

you sound like you had a business course at DCCC 20 years ago, and are regurgitating what you think you remember.

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