Ladies, do you file taxes?

[Naomi4u]

Originally Posted by gulflover

I don't think Naomi was offering tax advice merely going with what her accountant told her. He was wrong although I think it's possible his strategy would hold up in tax court though not likely (it certainly wouldn't an audit I'm sure.)

Thank you!!, Gulflover.

David: Now if I was wrong about something, my bad but don't accuse me
of giving free legal advice. Free advice is worth what you paid for it right? Just like yours is worth ???? Exactly. Anyone that takes legal advice from a hooker board should be questioned. After this wonderful conversation, I will have consult with another advisor before filing.

[Fancyinheels]

Originally Posted by Tiffany Cums

Yes, I file and pay taxes, yes I own the house with the picket fence and the kids running about....and no, this is not a business for me. Never was, and never will be.
If you ladies want a real job, then go out and get yourself a real job. This isn't it.

This has been a "real job" for me for 4 years now come the end of May. I file taxes under the IRS code for "entertainer" and take off (literally and figuratively) my costumes, lingerie, supplies, travel expenses, lodgings, advertising, etc. I also pay for private health insurance, have a savings plan - all the things "normal" folk do when independently employed.

I love what I do and have never been happier at any "job," but I fail to understand why this profession isn't considered a legitimate career by many people, including clients and other escorts. It may be monkey business, but it's still a serious endeavor on my part.

[Naomi4u]

Originally Posted by Fancyinheels

This has been a "real job" for me for 4 years now come the end of May. I file taxes under the IRS code for "entertainer" and take off (literally and figuratively) my costumes, lingerie, supplies, travel expenses, lodgings, advertising, etc. I also pay for private health insurance, have a savings plan - all the things "normal" folk do when independently employed.

I love what I do and have never been happier at any "job," but I fail to understand why this profession isn't considered a legitimate career by many people, including clients and other escorts. It may be monkey business, but it's still a serious endeavor on my part.

So you're not one of the ones that do this just to do it. lol
Glad I'm not the only one that writes off my lingerie/clothes.

[Chevalier]

Originally Posted by charlestudor2005

I'm sure that there were deductions he took, that if audited, might have been disallowed. But as ds01123 says, all you do is pay the difference and move on. Dad was willing to do that as a tax strategy to limit his tax liability as much as possible.

There is, of course, a huge difference between: (a) knowingly claiming invalid deductions and (b) claiming deductions in a gray area, where even with full knowledge of all the facts it's not completely clear whether the deduction is valid. There's nothing wrong with (b), which is what it sounds like your father did.

But it may have other consequences. When dealing in gray areas, recognize that there are different shades of gray. Some items, even if disallowed, might only result in your having to pay the additional tax plus interest. Others might result in a penalty on top of the additional tax. The Code and Regulations establish a variety of different standards of how likely (based on existing law, IRS pronouncements, etc.) it was that the tax position was correct: nonfrivolous, reasonable basis, realistic possibility of success, substantial authority, more likely than not, etc. Depending on how strong/justified your position was, combined with other factors such as whether it was adequately disclosed and whether it meets the definition of a tax shelter, either the taxpayer or the tax return preparer may face various penalties or sanctions. (In some instances, the taxpayer may be able to satisfy the standard by showing that he/she relied on the tax return preparer or another tax advisor. But the IRS and courts are getting much tougher on whether the taxpayer should be able to rely on that tax advice. And when they're considering a penalty, they've already decided that the tax position was invalid and they're looking at penalties with hindsight.)

Some of the items mentioned above would almost certainly result in penalties if audited, even though a CPA told you it was OK.

[Ed Highlight]

Originally Posted by Naomi4u

So I'm not the only one that writes off my lingerie/clothes.

Sure!!!..It's just like a uniform or any other business attire that is only used specifically for "business".....but don't let the IRS catch you in those crotchless panties and leather bustier in your personal life or you can't claim the entire expense...or maybe like a company car that you use for personal use...you have to keep an accurate log of the "mileage" for business and personal use.....

[Naomi4u]

Originally Posted by Chevalier

Some of the items mentioned above would almost certainly result in penalties if audited, even though a CPA told you it was OK.

.... and what "items" are you referring to and why? That would help better that what you just posted above.
I'm asking David the same thing. You guys are telling me that I'm wrong but what am I wrong about? You're talking all this and not telling them "items" that you are referring to. So tell me what items they are and why they aren't a valid write off. Can you do that? That will help instead of the "YOU'RE WRONG" posts. Sorry If I skipped it but I tend to scan through a lot of these post. I promise I will read the next one.Thanks in advance. You have the stage...

(Let's not forget the title of this thread: Ladies, Do you file taxes? I did NOT give Tax advice not once)
Now if you tell me the items you are talking about, I bet I can challenge it. So bring it on.

Originally Posted by gulflover

The medical checkup I'm iffy on. Certainly as a personal medical expense, but why do you need regular medical checkups when all you're doing is going on dates? Of course as long as it's not an unreasonable amount, and you show a profit overall, you're not likely to get audited on it.

This makes a lot of sense!! Good thing I did not file them yet (Read the original post). You stopped me from making a big mistake. A free BJ is in order .

Originally Posted by Ed Highlight

Sure!!!..It's just like a uniform or any other business attire that is only used specifically for "business".....but don't let the IRS catch you in those crotchless panties and leather bustier in your personal life or you can't claim the entire expense...or maybe like a company car that you use for personal use...you have to keep an accurate log of the "mileage" for business and personal use.....

LOL!

And I will continue to write off my clothes/lingerie.
With my other business, I HAVE to have lingerie for work so
it's an expense no matter what others say. The more lingerie I have, the more
money I make. The more toys I hAVE, the more money I make. Cool eh? I will keep doing
things the way I have been doing until I can confirm what they're saying is correct.

[Dragon7769]

What I was told about deducting clothing of any type on my taxes that it had to pretty much clothing that would ONLY be used for the buisness. If it is something that was likely to be used in your personal life then it coudnt be used as a deduction

[Ed Highlight]

Originally Posted by Naomi4u

....
And I will continue to write off my clothes/lingerie.
With my other business, I HAVE to have lingerie for work so
it's an expense no matter what others say. The more lingerie I have, the more
money I make. The more toys I hAVE, the more money I make. Cool eh? I will keep doing
things the way I have been doing until I can confirm what they're saying is correct.

And I will continue to write off all of my "donations"....I'm a very charitable man as my accountant says....

[Ed Highlight]

Originally Posted by Dragon7769

... If it is something that was likely to be used in your personal life then it coudnt be used as a deduction

Dragon, Have you seen some of these outfits?? C'mon...they are not wearing them to the grocery store!!

[Naomi4u]

Originally Posted by Ed Highlight

Dragon, Have you seen some of these outfits?? C'mon...they are not wearing them to the grocery store!!

Exactly! When I cammed full time, I never wore regular clothes online. It was all lingerie... those babydolls and crotchless panties! Wait there was one time I wore a t-shirt and a g-string but I spend $50 on that g-string a day before just for that damn cam session. We had to and still have to wear lingerie. Most definitely weren't wearing those to church or Whole Foods.

Please keep in mind that I have two occupations going here and not just one. I'm 100% sure that some of you have masturbated to my solo vids .

[Eccie Addict]

Originally Posted by MsElena

Yes, I file and pay taxes every year. I have to in order to own the house, have a nice car and go to school.

Contrary to what some say.....this is a business or else you wouldn't be receiving cash for your services. You'd do it for free if the money didn't matter to a point. Some run it like a business and some don't. The ladies who are successful in this line of work are the ones who run it like a business.

I'll be out for good once my PhD program is over. I have to start it first though. LOL Next year is the start date.

Why is it that some people are hell bent on telling others why they do this and what it is? Ya know she could very easily be receiving the money simply to reimburse herself for what she has spent. It could very well be a hobby to her....

[Eccie Addict]

One thing about taking advice from anyone regarding taxes.... Remember that your name is the only name the IRS will be looking at. No CPA, lawyer or friend will be signing any papers when it comes to the IRS. First hand knowledge and research is much more reliable

[MsElena]

Originally Posted by Eccie Addict

Why is it that some people are hell bent on telling others why they do this and what it is? Ya know she could very easily be receiving the money simply to reimburse herself for what she has spent. It could very well be a hobby to her....

I'm not hell bent on telling anyone a thing. It is what it is. You can dress up a cat in different clothes and teach it to bark, but at the end of the day its still a cat.


Naomi,

Your CPA is telling you what you can deduct for your business of webcaming. That's totally different than escorting. What works for your taxes may not work for escorts filing their taxes.

I didn't mean to make it sound like your accountant didn't know what he/she was talking about.

[Naomi4u]

Originally Posted by MsElena

Naomi,

Your CPA is telling you what you can deduct for your business of webcaming. That's totally different than escorting. What works for your taxes may not work for escorts filing their taxes.

I didn't mean to make it sound like your accountant didn't know what he/she was talking about.

No problem. That's why I brought webcamming up. I do both. Thanks love!

[Dragon7769]

What i was told was - if it was something that could reasonably be used outside of work (in the case of lingerie, my argument would be you could also be wearing it for you SO).

Basically it is very hard to claim any form of clothing on your taxes, since very very few things would pass that test.

This is just what I have been told by my CPA. if you have claimed it in the past and it worked out for you then great, I wouldn't stop.