How do taxes work???

[Terrance]

I've been in the adult industry for a good time, but I've just recently been earning a lot of money. How do sponsors report your earnings, and how do you get taxed.

Thank you.

[$tandaman]

Where do you live?

[*Kimmykim*]

How do taxes work? Well in the inimitable words of Chris Rock, "it's a jack, they just take that money outta yo check before you ever see it!"
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On a serious note, get an accountant if you don't have one. You're being paid the entire amount from your sponsors, they don't take any taxes out, so you should be estimating income and paying quarterly.

Much easier to pay someone to figure it all out than to owe out the wazzoo at the end of the year http://bbs.adultwebmasterinfo.com/ubb/smile.gif

[shane94]

you will get a 1099 (= Get a CPA!! Trust me here!

[mr. mpg]

not all sponsers will send you a 1099
you need to keep track of the dough through your deposits.

[basschick]

mr. mpg speaks the truth! we have several sponsors from other countries who don't send 1099's, but guess what - your bank reports your total for the year to the irs.

get a tax man (or woman) and deduct every cent you spend on bandwidth, content, scripts - every cent you use for business.